New York States historic Hudson Valley region housing numbers continue to be a shell game not unlike the guys with the fold up tables outside Port Authority’s 42^nd Street bus terminal in NYC.

The only ‘real’ movement has been with the now expired income tax credit which is now cause for concern as it only prolonged the inevitable further erosion of housing prices, noted as correction by some industry, financial and government analysts.

Homeowners reluctant to take the loss on their investments are refusing to move their prices to sell.  For example we viewed a single family residence in Cornwall-on-Hudson, New York with a list price of $600,000.00 with an assessment of $300,000, what does this mean for the buyer?  DON’T BUY! 

You are hedging a bet of $300,000   that the housing market devaluation has bottomed out and will attain your purchase level…not so quick cowboy.