Do you believe that falling home prices in Gilroy have hit
bottom?
THIS WEEK’S WEB POLL:
Do you believe that falling home prices in Gilroy have hit bottom?
Yes: 1 No: 11
■ NO, because the U.S. economy has not yet hit bottom.
■ No. But as credit loosens and mortgage rates drop to 4 to 5% for refinancing and purchasing, home prices will stabilize and begin to rebound.
■ No. Not until there is a sustained economic upward trend nationwide will anything get better in Gilroy and its real estate market.
■ No. Not until the next round of adjustable montages resets and until much of the standing inventory is sold off.
■ No. Sadly.
■ Nope! But our 401(k) has.
■ No. But I feel once the banks start lending the end is near.
■ Probably not. It’s still a great time to buy with the lower prices and decent loan interest rates.
■ I think we are still in for more downturn in prices. I don’t see signs coming down … The house next door to me is on the market for about 50% of what it sold for two years ago and is still empty.
■ No. I think the foreclosures will continue and the prices will fall, maybe until the end of summer.
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