... or maybe it's already too late !!!!
(snip)"In June 2003, the average sales price on Merced County's Multiple Listing Service was $177,056, said Oliver. The Multiple Listing Service includes agent-listed sales of existing homes, and usually does not record figures related to new houses.
By June 2006, the average price had climbed to $362,398. Last month, it was down to $314,908.
But the large gap between what sellers are asking and buyers are offering means owners will likely continue to lower prices, said Oliver. When will prices stop coming down? "We're almost at the bottom," said Oliver. "We still have the winter to go through. I think in 2008 it will stop. Everyone will have gotten the message and the prices will stop dropping. I think 2009 is probably going to be a very good year for us."
"Home prices now are back to about what they were in 2003," said Ernie Ochoa, who manages the Century 21 M&M and Associates office in Merced.
Even those rolled-back prices are too high for most families.
"The median-income family earns about $47,000 a year in Merced County," Ochoa said. "So it only can afford to buy a home priced about $175,000."
Ochoa said Realtors listed 1,437 used homes for sale last month in Merced County, but they sold only 53 of them"(snip)






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