As home prices and mortgage rates continue to fall, acquiring the home of your dreams may be possible. Homes that were unaffordable for many during the real estate bubble are now within reach for those fortunate to be in the position to snatch them up. Of the 705 counties tracked by eppraisal.com nationwide, more than 140 have experienced a drop of 30 percent or more in median sales price since their peak.

In San Diego County, California, which consists of cities such as San Diego, Carlsbad, and Encinitas, the median sales price has dropped by almost half, from $660,000 at its peak to $350,000. Those seeking the good life on the West Coast of Florida should turn to Collier County, home of sought-after Naples and Marco Island. Median prices have dropped almost 45 percent from $454,000 to $250,000.

If coastal living is not ideal, it’s not surprising that the Denver area is our next pick. Median prices are down to $162,000 (but don’t be fooled, ski lift tickets are still $90+).

This entry was posted on Wednesday, January 7th, 2009 at 12:22 pm and is filed under Home Buying, Owning a Home, Real Estate Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.