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Pensacola Home Values Down 6.5%

Pensacola Home Values Down 6.5%

Pensacola Home Values Down Less than the national average

Nationwide Home Values Down 7.5% For The First Quarter Of 2008.

According to a recent article in Zillow, home values in the Pensacola area fell 6.5% for the first quarter of 2008 compared to the same period in 2007.  In addition, the median home price nationwide has had the most significant year over year decrease in value in 12 years pushing home prices back to levels seen in 2005.

See the complete Zillow article here along with some really cool national real estate data tools.

For those who are not familiar with zillow, it can be a good resource to see general information about your home value, and the values and recent sales in your area.  This is a free service, and as such, you get what you pay for.  It is packed with good information, and some cool resources and tools, but actual values reported are not to be taken literally.  They are typically off by about 10%, and in some areas it could be as much as 20%.  For location based property (such as waterfront), don’t even bother.

That being said, it is a fun site to surf around in.

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