Quick Look at Real Estate 2006 vs. Today

Let’s look at a Bellagio house that would have cost $900,000 in 2006. For the sake of this example, the same house today is valued at $800,000 (12.5% less).

A home that was purchased in 2006 for $900,000 is purchased for $800,000 today. The mortgage rate that was at 6.5% in 2006 is at 3.5% today, resulting in a SIGNIFICANT drop in monthly payments.