[The Fixer]

Paul, I've seen the housing prices drop pretty dramatically in our area - for people that need to sell. For example - my sister-in-law and her husband just bought a house in Cliffside. Last year the owner was asking around 450K, they wound up getting it for almost 100K less because the house sat for a year on the market. If the seller isn't in a bind, they usually keep the price jacked up, hoping for that one person that will pay what they want, even in this crappy economy.

And, the taxes haven't come down - the only way they will is if you appeal, and you show them proof that the house you bought isn't worth what it's assessed at any more (using comparable recent home sales prices).