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Mortgage Insurance Company Lifts Declining Markets Status in some MSAs
Evidence that real estate values are starting to stabilize in some markets can be found in Genworth Mortgage Insurance company's latest bulletin and became effective effective July 20th.  Genworth removed 136 Metropolitan Statistical Areas (MSAs) from the declining markets / distressed markets list.  
Genworth is a mortgage insurance (MI) company providing mortgage insurance on conventional loans over 80% Loan to value.  Over the past two years, MI companies have been struggling with losses along with other mortgage  servicers and have reduced credit risk by limiting availability of mortgage insurance in high risk areas.  In this bulletin , the insurer added 41 MSAs to the declining markets / distressed markets list, and removed 136 MSAs.
It should be noted that the appraiser is the final authority on the value trends of the neighborhood.   Regardless of the location of the property with respect to location inside of a MSA identified by MI companies as distressed/declining.  If the appraiser notates on the report that the value trends for the neighborhood as declining, then declining markets policies will be applied to the loan for mortgage insurance purposes.
Arizona, California, Florida, and Nevada will most likely remain on everyone's declining markets list for some time yet, ... more

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