April Figures Show Continuing Decline In Median Home Sales Prices

Good article with good insight into the buyers' minds. The Warren Group is on their game

With people flooding out of New England in droves, trust me they are all here in Florida :(, Prices could not hold up in that part of the country. Nothing but poor minorities and rich old hags. No middle class left, that's for damn sure!

workers compensation, unemployment tax, medical insurance costs, a costly regulatory structure, high living cost for the worker, cold winters and people with bad attitudes - what's not to love about CT?

I dont se where things are so bad,smaller homes that were selling for 149,000 to 189,000 3 to 4 years ago are still going for 220,000 to 279,000 on averageThe surge in home prices was only made possible by creative no money down and interest only loans.(just to name a few)Many of these homes on the market should have never sold at such high prices but many of the morgages were made possible by the companies dodd would like to save by a bail out to the people hold some of these now not so fantastic mortgages.

Here's a thought.... people complain about home prices dropping but guess what they are still over priced. Conecticut has few middle class families left and the ones left can't, or worked to hard for their money to blow $225,000 on a house that is crazy. So now the wealthy that went on a greed filled buying spree trying to flip houses are upset because their net worth dropped below 10 million for the first time. Well I am happy, I am more happy when they go bankrupt for being greedy but a loss of net worth is just as well, I hope all the people who drove up prices due to greed and flipping houses go bankrupt and end up just getting buy in a 900 sf 2 bed room apartment driving a 10 year old car and being laughed at...that is what connecticut needs.

FHA and VA loans are still available in CT, with all the old down payment options, including 0% and 3% (which require mortgage insurance as part of the package). Chase is still offering these funded by Bank of America, to cite one example. This doesn't mean it's as easy to qualify, but let's not leave the misimpression that nobody can buy a house any more without 10 or 20 percent down...

Leave it to the Beaver wrote:

With people flooding out of New England in droves, trust me they are all here in Florida :(, Prices could not hold up in that part of the country. Nothing but poor minorities and rich old hags. No middle class left, that's for damn sure!

I have read that Florida is one of the hardest hit areas, up there with Phoenix.

Brandon wrote:

Here's a thought.... people complain about home prices dropping but guess what they are still over priced. Conecticut has few middle class families left and the ones left can't, or worked to hard for their money to blow $225,000 on a house that is crazy. So now the wealthy that went on a greed filled buying spree trying to flip houses are upset because their net worth dropped below 10 million for the first time. Well I am happy, I am more happy when they go bankrupt for being greedy but a loss of net worth is just as well, I hope all the people who drove up prices due to greed and flipping houses go bankrupt and end up just getting buy in a 900 sf 2 bed room apartment driving a 10 year old car and being laughed at...that is what connecticut needs.

Not just CT.

If you can't save up 20% for a down payment you have no business buying a home, much less 10% or less.

5% and all that kind of stupid happy talk is what got us into this mess. More of the same certainly will not get us out of it.

The Florida median price is not down by 50%. Even the worst hit areas are not down by 50%. The Courant would do well to require some fact checking before permitting these comments to be printed unchallenged.

the stores are empty and the property taxes are stupid - watch the car dealers= they cannot fit all the cars on their lots - unemployment is up and that is not counting those whose benefits are up - it is all over in ct you better believe it

BUYERS BEWARE
Here's something I've noticed...when a house sells, the days on the market and original asking price is not correct half the time.
If a seller lowers the price (which many have been doing in West Hartford where I have been looking for over a year) the date they lower the price seems to be used for days on the market. It is also used as the asking price.
This means the realtors are manipulating the numbers to make thing look better. It makes it look like things are selling faster and closer to asking prices.
Why would they do this? Well they control the MLS, all the data, and no one fact checks that. So why not?
Just makes buyers into poor(er) fools.
Some class action law firm aught to sue the publishers of this false data on behalf of buyers. Hello-- anyone know a lawyer looking for some work in the downturn?
If you want my data captures of this data fixing-- email csjwest7@yahoo.com

It's a problem when your leaders must corrupt the American ideal of "equality of opportunity" into "equality of outcome" to avoid being lynched in the streets. The companies who were chased out, due to strangling costs, cannot be replaced. The attempted solution has been to replace a once thriving private sector with a bloated state bureaucracy. Not sustainable over the long haul. Fact is, anybody who CAN get out has already LEFT. For those of you who are stuck -- products of the sclerotic school system, worsened each year by a teachers' union pandering to its illiterate members -- learn how to do something useful for your fellows. Plumbing or old fashioned appliance repair comes to mind. After this coming winter, the highest priority for the ones left behind will be making that dole check stretch.