Home Prices Ready To Rebound - Barron's Article

Jim - I read that article (in Barron's) as well.  Of course all Real Estate is local, but it makes some good points.  Certain areas have and/or will rebound faster than others, but I'm hoping/guessing that the worst is over.

Hope the article works as well:)

Jim we have hit the bottom in Phoenix and we're seeing prices going up with strong demand. Mulitple offers on just about anything in good conditions and locations under the 350K mark. We are in a sellers market in the lower to mid range homes.  The high end is still struggling along.  Our losses have been anywhere from 30 to over 60%  - which is nuts.

Good stuff, Jim. We are seeing more postiive news and encouragement, and positive changes in a number of areas. There is certainly a lot more activity. I do think we have some changes ahead now that the Mortgage Settlement Act has been settled in terms of more foreclosures especialyl in those state where there is a large backlog. Time will tell.

Jeff

Inventory is down and demand is up in Palos Verdes.  Can recovery be far behind?

Jim,

While we are fortunate in Canada not to have had this same down market, over this same 6 year period Toronto prices are up about 42%.

Brian

We are seeing a lower inventory and a steady influx of buyers.  Our mid level inventory is very low making it difficult for some first time home buyers.

Thanks for sharing. I think prices are already starting to rebound here. What we need is for buyers to have more confidence in the rebound and get off the fence and buy already. As they do, prices will rebound even more and so on.

Gretchen

Jim -- I hope that we are on the rebound here in NH.  It seems for every positive story there is one that casts some doubt... I'll stick with the postiive outlook... keeping my fingers crossed.

I guess since real estate is local it looks like some areas have already begun to rebound.

Thank you for the link. I will check out the post. I will share this information with others.

Jim, it's never good to try to catch a falling piano.  The folks who keep waiting for the bottom won't see it, and then they'll be chasing the market up.  It's really is the best time I've seen in a long time.  So, jump in folks!

Jim, I agree. As the market turns so will interest rates. The time to buy is before the market turns and we are starting to see the buy now signals.

Jim ~ We, too, are seeing a higher demand for low to mid-range homes. $250K seems to be the break-point though. Many of the upper range homes are still in the Buyers market classification.

Hi Jim - It's been going on here in Nashville for a long time, but part of it is our local economy has been doing better than average, and people still need a place to live.

While I deal in optimism with restraint, I am always cognizant of the in-between. You have Highs, you have lows of which you post about and then you have stability....Lets hit stability and highs follow quickly after that...good post thank you

I would agree with Pete above that some areas seem to be experiencing a rebound already. It will take the mortgage industry awhile to catch up, but the situation is improving.

Hi Jim,..... only 34%, it feels like more. It fluctuates here, like 2 steps forward and 1 step back. So maybe soon we will get just the forward steps. Will be sweet!

Hi Jim,  Thanks for bringing this article to us.  Plenty of signs that most markets are recovering nicely and every one helps restore consumer confidence.

Jim - there's some great signs of current market improvement in our area.  And, while our crystal ball isn't working, one thing we do know - interest rates are at an all time low NOW - making buying a home more affordable than ever.  And, we do know that home values are at a 7 year low - a win-win for any homebuyer NOW.