| Ouch! | | Home prices in the nations 10 biggest metro areas are projected to keep falling in 2009, with Miami and Los Angeles suffering most. | | Metro area | 2009 median home price | 2009 change | | Dallas | $155,645 | -1.0% | | Houston | 147,549 | -1.8 | | Atlanta | 50,092 | -2.5 | | Chicago | 239,359 | -5.3 | | Philadelphia | 201,151 | -9.8 | | Boston | 295,918 | -12.5 | | New York | 393,210 | -13.7 | | Washington | 261,411 | -17.1 | | Los Angeles | 269,614 | -17.2 | | Miami | 214,551 | -18.8 | | Notes: Prices are projections for the end of 2009. Change is from the end of 2008. |
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Source: Moody's Economy.com |
Lawrence Yun, chief economist of the perpetually optimistic National Association of Realtors, says he expects prices to rise 2.8% in 2009.
Go to Zillow.com to see how much nearby homes fetched recently. Once you've figured out what a buyer might pay, price your house 5% below that.
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