The National Association of Realtors to announce last week that home values are on track to experience their first annual decline since the Great Depression of the 1930s; new home prices have already fallen 6.5 percent over the past six months.
By helping homeowners appeal their property taxes that were based on prior "expensive" high assessments, you will be rewarded for your effort. You’ll be a hero to the homeowner and will have helped by seeing that they only pay their fair share of property taxes, NOT beyond.
The drop in U.S. real estate markets is likely just the first stage of a global liquidity problem. Foreclosures and lower home values are not going away soon.
Foreclosures almost doubled during July, rising to 179,599 from 92,845 in the same period a year ago. RealtyTrac is expecting 2 million foreclosures to be filed for the full year in 2007.