I'm not a mathematician but

It is simple math. OK everybody is asking the question of how long will it take to come back to the highs of 2004. Now this depends on what area you are in and how far back home prices have fallen.

In Michigan the newer home prices have gone back to about 1994 prices. In some cities it is 1980's or 1970's prices. So here is my math on the 1994 priced home. If your house is worth what is was in 1994 it took a total of ten years before it reached 2004. 2004 -1994 = 10 years right...

So in just 10 short years your Metro Detroit house rose in value to 2004 prices and that was a booming economy.

So how long do you think it will take for the Metro Detroit's economyto get rolling. Let's be optimistic and say in 2 years.

So here is my math.

2 years for economy to turn

10 years for prices to get back to top price.

So I say it will be 12 years at the minimum to get back to the high home prices. That is if the economy is humming like it was in the late 1990's and early 2000. If not then add another 4 years on at least.

So my educated guess is that it will be at least 12 years before home prices come back to the past highs of 2004 (AT THE ABSOLUTE MINIMUM!!!!). I will be retired by the time home prices come back. I honestly think it will a few more years than that but..... I'm staying positive.

So if you are waiting for it to come back to sell you will be waiting a long time. If you have the time wait. If not make your move when it best fits your situation because everything hinges on Detroit area economy.