According to CNN, in the 12 months that ended June 30 of this year, nearly 25 percent of homes sold across the country sold for less than the sellers originally paid for the house. This, of course, is a disastrous transaction for sellers, probably only made under duress. The sellers had to sell now, and had no other options.
For years, the size of the average U.S. house has grown. But a story by Stephen Gandel on CNNMoney.com, which you can read here, says that a combination of rising fuel costs, an aging population and a growing environmental movement may result in the opposite: Our average homes may soon be getting smaller.
Has your home lost value in the past year? If national reports about the slumping residential real estate market are true, then your home’s value probably has dropped. But the odds are good that you don’t think it has.
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Written by Dan Rafter [email] for b5media.
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