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Local Housing Update

Written By: The ECJ Staff  |  Posted: Monday, October 10th, 2011

            All across the country homes prices have been gradually falling with no end in sight.  What is true for the country is also true for Eau Claire.  One investor has observed that houses in Eau Claire have been selling for approximately 10% lower than assessed value.  Further, it should be noted that assessments have been lowered in the city of Eau Claire.  The ability to determine what a house is worth is, for the first time in many years, uncertain.  

            It is a buyer's market without question.  For those buying, especially if they have the financial ability, the ability to negotiate is fully to their advantage.  They can buy now at a good price which at times will be as low as houses were five or more years ago.  The buyer also can know that if they buy today, and prices continue to go down, they do not lose necessarily.  A house is a commodity (although one that costs) and if maintained, will still be a house, no matter what happens to prices. 

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