Charlottesville - Albemarle Area Real Estate: Beware of "Comps" in a Market Where Prices Are Still Declining

Home prices are dropping nationwide.

Locally, home values have already declined 15-30%, depending on neighborhood. Because this area has been slower than many to deflate, and because the run-up has been so high, especially in the past five years, the area still has a ways to go down, ioho.

According to a survey by real estate site Zillow.com about three-quarters of U.S. homes lost value in