Broker Asks - How Much Are Values Going UP In Your Area?

That's a question that I get posed frequently when I answer "Comp Check" calls from out-of-town loan brokers that are working from a borrower's old appraisal.   I hear the question and wonder: "Do you even READ the newspapers or watch TV?!"

According RealEstateABC: Nationally, the median average sales price dropped 2.22% from the same period last year. The smallest drop occurred in the South with prices down 1.6%. Prices were down 2.31% in the Midwest, down 4.32% in the West, and down 5.13% in the Northeast.

The median price is that price where half the homes sold for a higher price and half sold for a lower price.  Data Source: National Association of Realtors

And if the "numbers" don't tell the story, maybe the graphs will? . . . .