Real Estate

Crunching the year-end numbers

By From page C3 | January 04, 2013

The most unsettling aspects of living through a declining real estate market is the uncertainty as to when the bottom will be reached. If we all knew that property values would bottom out on a certain date, more folks would have held on to their homes and fewer would have walked away from their mortgages. Many homeowners just lost faith in the market’s recovery and they tired of making mortgage payments on an underwater property. Most of the foreclosures and short sales during 2012 were not so much from the loss of a job, but from loss of confidence in the future. Folks just gave up and surrendered their keys.

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Ken Calhoon

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