A hundred economists were surveyed and it is between 2012 and 2015 we are going to start seeing green again! We are going to start seeing appreciation, not depreciation, but it is going to be very limited.
Now, what we can see is they’ve really broken it down year by year. In 2012, we’re going to have about 0.2 percent depreciation. Most of that’s going to come in the first half of the year. Prices are going to drop pretty substantially in the first half of the year and then pick up again. But overall, if you bought a house now, and at the end of 2012 you’d be about break‐even.
So anyone questioning whether now is the time to buy a house and looking back over the last five years and being worried about that because people who bought five years ago might have lost money ‐ many did ‐ the house is worth less than what they paid for it, well, that’s not going to happen over the next five years.
In Virginia Beach, Chesapeake, and the surrounding areas we saw about a 3% appreciation yearly, before the housing bubble. For buyer representation, contact firstname.lastname@example.org. We can have you looking at homes in 3-12 hours.