| 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. |
HOUSING PRICES FREEFALL
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Cal Haupt
, Southeast Mortgage
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