Beyond the Media - National Home Values

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Mortgage and Lending

The headline story is that values for the country as a whole have continued to decline. However, looking at the market on a state by state basis reveals a different story as there are many exceptions. Following are a few points to keep in mind when you listen to the news.

1. For the first quarter of 2009, there are 30 states that show an increase in home prices. This evidences that many states that had declined over the last year are beginning to stabilize (Q1 2009 Column).

2. Double digit drops in value over the last 12 months are limited to just 4 states. 17 states are showing increases and the remainder have predominantly small declines (Last Year Column).

3. Despite recent volatility, all but one state has grown in value over the last 5 years with 14 averaging over 7% per year (Last 5 Years Column). Over time, all states have risen at average annual appreciation rates of between approximately 4% and 8% (US Map).

If you find this information interesting, please feel free to forward this along to your family and friends.



 

Karl Peidl

Senior Mortgage Consultant
Superior Mortgage Corp
(800) 706-6671
Augusta Professional Center, 854 S White Horse Pike, Hammonton, NJ 08037
www.karlpeidlsmc.com

 

 
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Rainmaker
519,175
Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

Karl ... Thanks for this interesting post about real estate sold prices and comparison of states for first quarter 2009. Where did you get the map of states graph?  IOs that from OFHEO? 

Jun 08, 2009 10:59 AM #1
Rainer
108,048
Karl Peidl
Moorestown, NJ
Accredited Loan Consultant

Hi Harrison - Thank you for stopping by.  I got the map through a mortgage marketing group that I work with. 

Jun 10, 2009 08:08 AM #2
Rainmaker
525,302
Regina P. Brown
MBA Broker Consultants - Carlsbad, CA
M.B.A., Broker, Instructor

Karl, we're in CA and we are leaders in many ways -- including real estate market volatility!  Thanks for posting.

Jun 12, 2009 04:16 AM #3
Rainer
108,048
Karl Peidl
Moorestown, NJ
Accredited Loan Consultant

CA was also a pioneer in new mortgage programs such as the 50 year mortgage.  I can't say I'm a fan of that one.

Jun 12, 2009 04:23 AM #4
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Rainer
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Karl Peidl

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