Home Prices Continue to Fall

The Detroit Free Press had a recent article about the current prices of homes nationwide. On average, the price for homes fell 1.5% in September. In Metro Detroit home prices were down 3% for the year ending September 30, 2010 and 1.3% between August and September 2010. It is important to remember that these values should be reflected during the upcoming assessment period. Keep your local government honest by carefully reviewing the assessment that you will be getting in a month or so to make sure that the depressed prices are reflected in the market value they record for your home.