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According to the National Association of Realtors, existing home sales dropped sharply lower in July 2010 following the expiration of the homebuyer tax credit.
The real estate market nationally as well as locally, in my opinion, is still on a roller coaster ride. Many homeowners hoping to sell are realizing that they may have to take less for their home if they want to sell it. When this happens several times in a given area over a period of a few months, it drives neighborhood values down.
