Taking it a step further, I've heard stories about the banks asking for completely different loan requirements and terms for these 'markets' or 'areas'.  I've read that certain people are considering this activity red-lining.  Red-lining is illegal; so it will be interesting to see where this goes over the next few years.  Note: I don't have an opinion one way or the other as I'm not qualified to make that kind of judgement - just repeating what I've read and heard.

Tina, excellent point. I agree I'm not in a position to be an expert on this either, but it does seem there could be some legal ramifications that may arise.

Now that is very interesting!  Thanks

Richard

Comments in this blog posting are the intellectual property of Richard Acree, President, HABITEC Home and Building Inspections, LLC, and contributing members of the Active Rain Real Estate network, and are intended to educate and otherwise assist home owners, sellers and buyers, building owners, sellers and buyers, realtors, real estate investors, property managers, and lenders in the process of owning, buying or selling homes or commercial buildings.  HABITEC is a residential (home) and commercial building inspection company serving Middle Tennessee including Nashville, Brentwood, Franklin, Murfreesboro, Smyrna, Mt. Juliet, Hendersonville, Dickson, Belle Meade, Columbia, Spring Hill and more!  In addition to building inspections HABITEC offers Environmental Services for mold assessments, radon testing and water quality analysis.  Additional information about HABITEC can be found on our website at www.habitecinspections.com, or call 615-376-2753. 

Richard, at first I found it hard to believe, but then I thought hey why not, what else could possibly be thrown at the housing fiasco.

Duane, Pretty much all of California has been labeled Declining market and now they are rating them by category with 5 being the worst.

Cameron,hhmmm, rating the states like a tornado or hurricane, sad,  but at least with those two there's the Red Cross there to help instead of a Red X on the area.