Looking at houses that have recently sold, and I am using December 1, 2008 to the current date, I find that 25 houses have sold at an average price of $68,176. Of these 25 homes sold 12 were foreclosures which dramatically lower the average sales price. I believe our Allen Park real estate market will bottom out when the government passes legislation to give homeowners relief from the effects of foreclosure. If you are thinking putting up your home for sale and holding off because of the depressed prices it is a great opportunity to buy up. You will probably lose some on your current house, but have a great chance of making it up on your step-up house and take advantage of historically low interest rates at the same time. Please call if you would like an equity analysis done on your house.