I just read an article in Money Magazine, they have listed the top ten 10 cities in the USA where they are predicting that home prices will rise in the next year---that's the good news......They have also listed the 10 cities that they believe will show the steepest declines.

Prediction UPWARD:                                                               

· Santa Rosa, Calif., 6.0 percent                            

· Cheyenne, Wyo., 4.7 percent

· Kennewick, Wash., 4.6 percent

· Merced, Calif., 4.4 percent

· Bremerton, Wash., 4.2 percent

· Fairbanks, Alaska, 4.2 percent

· Corvallis, Ore., 4.1 percent

· Tacoma, Wash., 3.9 percent

· Anchorage, Alaska, 3.8 percent

· Bend, Ore., 3.3 percent

 Prediction DOWNWARD:  

· Miami, -22.5 percent

· Fort Lauderdale, Fla., -21.3 percent

· West Palm Beach, Fla., -18.5 percent

· Phoenix, -18.5 percent

· Las Vegas, -15.4 percent

· Tampa, -13.8 percent

· Pensacola, Fla., -13.6 percent

· Gainesville, Fla., -13.4 percent

· Suffolk, N.Y., -13.4 percent

· New York City, -12.9 percent

Any upswing is great news, unfortunately my area is not on the upward list,.......but I am thanking my lucky stars, we are not listed on the declining list either!

Neighborhood specific stats upon request, Just give me a call and I will gladly send them to you.

Heidi Engel REMAX BROKER/Realtor ADPR/SRES/FSSR    HeidiRemax@aol.com      www.HeidiEngel.com

Listing + Selling the Northwest Suburbs for OVER 20 YEARS!!!

 

9 Comments on Good News....Bad News

MAR
29
2010
1,066,994 Points 68 Featured Posts Outside Blog Called Shot Master

My heart goes out to every agent in Florida....and hoping that times change and they are able to survive and surpass all the dire predictions for their markets.
6:48am • #1
1 Featured Post

In 2008, Bloomington IL was predicted to make sharp declines. We never saw that. The "experts" said it was because State Farm (headquartered in Bloomigton) was in trouble. I have not heard of 1 State Farm layoff.
6:49am • #2
1 Featured Post Hit Router

Sally + David, I think the country started declines, in different cities across the US at all different times--which if I remember correctly, CA showed the 1st signs of this 'insane' market, so they should be, by all accounts, the 1st to start the upward swing. All I know is any signs of stability is welcomed by me with OPEN ARMS!

John, Bloomington didn't decline at all? WOW, lucky Bloomington residents!---I wish I could say the same here.
7:13am • #3
536,729 Points 5 Featured Posts Outside Blog Attended Rain Camp

This list surprises me a little bit.  The hardest hit areas, like Vegas, south Florida and Phoenix, look like they have not hit bottom yet.  Cherise
7:25am • #4
104,711 Points Localism Sponsor

Heidi, interesting list.  It looks like the areas that have been hit hard will continue to suffer.  Surprised the Metro-D.C. area wasn't on the upward list.  The market has really changed here in the last month.  Multiple contracts and escalation clauses are now a norm, particularly for the entry-level price points.
7:39am • #5
1 Featured Post Hit Router

Craig---at least Metro DC is not on the downward list :)   Remember though, this is just what they are predicting-----may be that DC will be in the next list as upwardly moving----Anyway---that's great news----any good news, no matter where in the country, is a PLEASANT change!
7:47am • #6
275,229 Points 3 Featured Posts Attended Rain Camp Called Shot Master

Interesting list, Heidi.  I think it is good to be on neither list.  I remember several of the cities that were on the "hottest" real estate market list are now on the declining market list.

Our city of West Lafayette has a steady growth curve in home sales prices and the average and median sales prices since 1999 have appreciated between 26 and 27 percent(total) over the last 11 years.  No boom or bust-just steady appreciation in home value.
7:58am • #7
1 Featured Post Hit Router

Bruce, those are great numbers!!! I really wish I could say the same for here. Our height was basically the very end of 2005, 2006 started a steady straight line from 2005, and then started showing  a slow decrease-- 2007 decreasing---but not steeply..........then 2008 was a 'freefall' I will be happy never to see that again. Our hot market appreciation gains (2000-2005) are gone---overall, my areas basically are pricing out at 1998-1999 pricing.
8:11am • #8
275,229 Points 3 Featured Posts Attended Rain Camp Called Shot Master

Heidi, we have seen the exact same thing with our twin city in Lafayette.  Prices peaked in 2005 and 2006 as a new tract builder came in from Indianapolis and put up hundreds upon hundreds of homes with lots of square footage for a very low price.  It caused a vast oversupply of homes in the lower to mid price ranges and home values fell in those price ranges in Lafayette.  The foreclosures are being snapped up by investors very rapidly and fixed up for rentals or resold at a much higher price.  I really think things are now on the upswing in Lafayette!
8:43am • #9


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Heidi Engel BROKER/Realtor, ADPR, SRES, FSSR

Mount Prospect, IL

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Address: 330 E Northwest Highway, Mount Prospect, IL, 60056

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