Do you foresee a drop in the value of property in the years to come as a result of home owners opting to sell their homes rather than continuing to service their mortgages? I think the property boom signifies a bright future for real estate companies. I’m just wondering if the same can be said about home owners?
I don’t see a drop, and I don’t see the correlation between a lot of sales and the lowering of property values because of those sales. Value goes down when ownership changes to rental status and when properties stay on the market for years on end.
It seems to me that a lot depends on the present economy and the location of the home and property. We’ve had quite a few foreclosures in the area but real estate buying seems to have stayed pretty much the same.