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Home Prices Stabilizing in Key Markets

October 5, 2010

Ziprealty is saying in it’s 3rd quarter report that homes in some key markets across the country appear to be stabilizing.  Hmm are you seeing that in your area?  What they measure is where homes are actually selling for above list price…this just seems crazy to me.  The only things that we are seeing go for over list price are foreclosures which generally are priced artificially low to generate interest/offers, and a lot of times this does work and the banks get multiple offers.  Out of the 10 hottest zip codes where homes are selling for higher than list, 2 are in Chicago, 6 are in California, 1 in Las Vegas and 1 in Washington state.  These are all large metro areas.

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