News
HOUSING PRICES FREEFALL
June 16, 2011
 |
| We caught up with Southeast Mortgage's Cal Haupt, whose firm just acquired another branch, buying First Mutual Mortgage in Columbus. Cal tells us housing values fell off a cliff in Q1, with loan values dropping from an average of $178k in 2010 to $142k, ?which is unheard of.? Those values have since recovered most of the losses, hovering in the $170's now. He credits the pricing drop partly to a deluge of short sales and foreclosures that hit the residential market around that time, hurting appraisal values metro-wide. |
