Read the Shiller report ... Boston down 5% in the last year. Had it in my head the drop was closer to 10% (probably true in my neighborhood(s)).
Had a vacancy materialize this month, soooo spoke to a realtor last week who said the bulk of the foreclosures are yet to hit the market (this I certianly believe). Need to get this thing cleaned up and on the market. Things do not look pretty down the road.
On the plus side (per my realtor) the buyers who are looking are well qualified (thanks to the subprime implosion) AND mortgage rates are still VERY good.
We'll see ....