Home prices decline in Northern Kentucky
www.Cincinnati.com is also reporting that the median home price has declined 25% in the Northern Kentucky area from March, 2008. That marks a decline in the Northern Kentucky market for 28 consecutive months.
If anyone doubts that we are in a market correction and that home values were over inflated, I invite you to comment on a 28 consecutive month decline in prices.
The market shows signs of thawing though, FINALLY!
There was an increase of 21% from the market in February to March, 2009.
Why is this encouraging for the foreclosure investors? A robust market helps everyone involved. But most importantly, according to www.Cincinnati.com, the increase in home sales was fueled by first time buyers and the selling of “distressed” (i.e. foreclosed property) by banks and other lending institutions.
In other words, BANKS ARE WILLING TO DEAL.
If you ever thought you should be buying foreclosed property, there is no better time.
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