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I don't care what they say: Home Prices are Stabilizing!!

By
Services for Real Estate Pros with Self Employed

I just heard an interview on Fox Business where a representative of Corelogic offered statistics on home prices.  Apparently their statistics were in line with other sources so I tend to believe them.  The good news is nationwide housing prices declined by only 5% in 3rd qtr 2010.  Decline is not good but 5% compared to as much as 24% earlier in the year is great.

Even better, the rate of decline for non-distressed properties nationwide was only 2%; good news for homeowners who have been able to keep the mortgages currrent and aren't upside down.  That would mean price declines for distressed properties must be between 5-10% which I think is also good news.   In our Springfield and Branson market I'm accustomed to seeing distressed properties being prices as much as 25% lower than non-distressed.

In general non- distressed homes for sale in Springfield Mo and homes for Sale in Branson Mo are selling for 96% of asking price which is a bit of a shock for out of state buyers.  Our economy is strong, we're putting in new infrastructure, new business, new homes and some employers are hiring hundreds at a time.  That's great for those of us who are already here but means we Realtors have to play counselor for our out of state buyers.    

I know there are many other local economies like ours around the country and wish we'd hear more about them as a counterpoint to broadcast media hype.   Their glass is not only 1/2 empty it's about to shatter and chards of glass will explode in their face.

Everyone, write about your good news.  Here and everywhere else you write.

Comments (3)

Nancy Fraser
Exit Realty Premier - Massapequa Park, NY
Realtor, Massapequa Homes for Sale 516-729-0278

Great news Bob, send some this way

Apr 13, 2011 01:53 PM
John Saari
Worcester, MA
"The Mortgage Buddy"

I like the positive attitude Bob. They are bouncing along the bottom I just hope they bounce up.

Apr 13, 2011 02:25 PM
Donald Reich
Madison Specs - New Rochelle, NY
Cost Segregation Specialist

There is no question that prices have stabilized. Even if prices do go down a little more, we are a lot closer to the bottom than we are to the top. My advice? BUY BUY BUY!

Apr 13, 2011 02:26 PM