However it does appears that $ 550,000 is the baseline. In other words the lows of the market have been set, basing is now occurring and within the next 4-6 months prices should be on the upside.
Why do I think the base has been set? Simply because the list to actual sales price variance in 1999, the days on the market and actual average sales prices are similar to the price variances, days on the market and actual average sales prices that we are experiencing today.
To read the full article go to: www.venturacountyretalk.com
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Associated with Rushing Real Estate.
http://www.venturacountyretalk.com/2008/07/17/id-thieves-are-targeting-medical-information/
http://www.venturacountyretalk.com/2008/07/17/are-you-a-real-estate-professional-maybe-not-says-irs/
http://www.venturacountyretalk.com/2008/07/15/one-of-a-few/
http://www.venturacountyretalk.com/2008/07/15/one-of-a-few/
http://www.venturacountyretalk.com/2008/07/04/beach-fun-and-beach-perils/
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WOW....."basing" is a term that we do not use in my market.
John: I guess we use different terms in different markets, but, I am unfamiliar with baseline. I have a license in five states and I've never heard of baseline. Are you saying that the market is correcting or leveling out?