Wall Street Journal says - Sellers Dry your eyes and lower the price!
I found this website recently which quotes some leading financial companies in the know about our 2010 real Estate Market... www.KeepingCurrentMatters.com February, 2010. The quotes are below in this post.
There are some good blog posts as well pertinent to our current market. This is a particularly good one based on a New York Times Article about seller's drying their eyes and lowering the price. I've used it personally. http://kcmblog.com/2010/02/25/dry-your-eyes-and-lower-the-price/
I think the blog post is on the money and looking at the statistics which reveal there are more home sales in our area than last year at this time it is clear that sellers are getting the message. Of course those who were "hanging on" are no longer able to which makes a difference. BUT our sales are up and in some of the zip codes locally that I monitor our Bank owned and shortsales (REO's and short sales) are about 40% of the most recent sales. That number was much higher last year.
David M. Blitzer, Chair of Index Committee and Standard and Poors says "Coming after a series of solid gains, these data are likely to spark worries that home prices are about to take a second dip."
Patrick Newport, HIS Global Insight says "We believe that prices have further to fall-about another 5-10%".
Deutsche Bank reports "home prices will drop a further 10 - 12% from current levels".
Moodys "We expect another 11% national decline likely before the worst is over".
Morgan Stanley "Home prices should continue to decline 10-15% through 2010".
Keeping Current Matters is a website of Steve Harney, real estate
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Terrylynn has been a Realtor in Contra Costa County for over 30 years. She works with the Dudum Real Estate Group. Terrylynn is a local expert, who believes in specializing for better service to her clients. She gives talks on Foreclosure Alternatives, Make Home Affordable Programs, Home Staging Consults before you Sell, and is a Senior Real Estate Specialist, Real Estate Collaborative Specialist-Divorce, Certified Residential Professional, EcoBroker and any more. There is no silly question, call now for advice and counsel about your real estate investment. Click here for a question about the area. Visit www.BuyStageSell.com to learn more about Terrylynn and her team of Real Estate Professionals and Staging Professionals. We even stage our short sales! Why? Because it works. 925 8760966 www.BuyStageSell.com
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no surprise here, Tampa just lost 8% in January so these forecasts sound pretty good. Its all int eh perspective I guess LOL