Real Estate Forecast for January, 2010

By
Real Estate Agent with McCall Realty

CNNMoney.com3 reasons why some say home prices are heading lower.

(Lake Tahoe Real Estate Blog, January 15,2010, Richard Bolen)

This comes from a CNNMoney.com article published earlier this month. Not that any opinion is ever gospel, we thought it interesting, and it certainly seems to be the opinion of some "industry insiders.".

Here’s some bullet points in the article:

  • After four months of gains, home prices flattened in October.
  • Most forecasts predict price declines in 2010, with possible losses ranging from 3% up.
  • Fiserv Lending Solutions, a financial analytics firm, forecasts prices will fall in all but 39 of the 381 markets it covers, with an average drop of 11.3%. (South Lake Tahoe is not on the Fiserv list.)

There are three main reasons some economists are predicting fjurther declines:

  • more foreclosures coming
  • interest rates will rise (see different opinion here)
  • end of homebuyer tax credits

(full article here)

See the original Article, "One Oh-Ten Real Estate Forecast" in our main blog.

 


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Rainmaker
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Teral McDowell
Keller Williams Central - Plano, TX

Reading in NAR's forecast for remainder of 2010 I do believe it also said that home values would drop some through the end of the year. I did not get the impression they were talking about a significant decline either.

Jun 15, 2010 11:22 PM #1
Rainmaker
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Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

I would not be surprised if we saw some price regression here in my area either.

Jun 16, 2010 07:46 AM #2
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Rainmaker
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Gary Bolen

CRS - Lake Tahoe Real Estate Information
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