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Formulas for a real estate recovery

Real Estate Question of the Day

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Editor's note: The following is a collection of real estate professionals' views on an industry-related topic. QUESTION: What is the key to the housing market recovery in your market area? Dominic Labriola Associate broker Selman & Associates Lake Havasu City, Ariz. While home prices in Lake Havasu City have seen about a 10-20 percent decline since the peak of the market in 2005-06, we are starting to see some stabilization. Foreclosures on distressed properties entering the market have brought the values of homes down. Judging from the high number of Canadian prospects I am receiving through my Web sites, I believe that we will have a very strong winter selling period because most of them plan to make a purchase during the coming winter months. There is a brief window of opportunity for the buyers who have been sitting on the fence waiting for prices to drop further. I believe that the winter buying period will stop the price drop in its tracks -- so if buyers ha...