Are More Stable Housing Prices in Our Future?
Are More Stable Housing Prices in Our Future?
Are More Stable Housing Prices in Our Future?
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February 8, 2011 (Shirley Allen)
mortgage-ball-and-chain-image
The average price of a single-family home declined 1.5% in the third quarter from a year earlier but home prices have already stabilized in about a quarter of all housing markets. Expect home prices to decline 5.5% this year, with three-fourths of the housing markets seeing prices stabilize by the end of the year with all markets stabilizing by the end of 2012.

According to a new analysis by information technology firm Fiserv, areas such as San Francisco, San Diego and Washington, DC have already stabilized, while areas like Phoenix, Miami and Los Vegas, and others with large inventories of foreclosed properties and high levels of unemployment are predicted to have significant price declines well into next year.

“Large supplies of foreclosed properties will continue to be the biggest downside risk for home prices and metro area housing markets,” said David Stiff, Fiserv chief economist. He said that in markets that were particularly affected by the housing bubble and subsequent crash, an irregular supply of foreclosed properties will cause prices to bounce around their lows for years to come.

The study found that reduced home prices and low mortgage rates have reduced the price of home ownership to pre-bubble levels, luring many potential buyers into the market. At the same time, the fact that many households can no longer qualify for a mortgage is keeping a lid on demand.

The company said housing prices should stabilize in two of the worse hit states, California and Florida, with most areas expected to show price declines through the third quarter of 2011, followed by gains the following year. Fiserv also said steep decreases are possible “in markets that have been hurt most by the housing crisis.”

In Florida, 10 percent gains in 2012 are foreseen for Ocala, Palm Bay/Titusville and Panama City, following small declines, while prices in the Miami, Ft. Lauderdale and Orlando areas are expected to continue to show significant declines.

In California, most markets are expected to show declines in double or high single digits through the third quarter of 2011, followed by moderate growth over the following 12 months. The nation’s biggest rebound is expected to take place in the Napa Valley region, with a 15.8 percent price appreciation predicted next year, following a 4.7 percent decline in the current one.

Tags: stable home prices, housing markets, unemployment, price declines, foreclosed properties, low mortgage rates, housing prices

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Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

February 8, 2011 (Shirley Allen)
mortgage-ball-and-chain-image
The average price of a single-family home declined 1.5% in the third quarter from a year earlier but home prices have already stabilized in about a quarter of all housing markets. Expect home prices to decline 5.5% this year, with three-fourths of the housing markets seeing prices stabilize by the end of the year with all markets stabilizing by the end of 2012.

According to a new analysis by information technology firm Fiserv, areas such as San Francisco, San Diego and Washington, DC have already stabilized, while areas like Phoenix, Miami and Los Vegas, and others with large inventories of foreclosed properties and high levels of unemployment are predicted to have significant price declines well into next year.

“Large supplies of foreclosed properties will continue to be the biggest downside risk for home prices and metro area housing markets,” said David Stiff, Fiserv chief economist. He said that in markets that were particularly affected by the housing bubble and subsequent crash, an irregular supply of foreclosed properties will cause prices to bounce around their lows for years to come.

The study found that reduced home prices and low mortgage rates have reduced the price of home ownership to pre-bubble levels, luring many potential buyers into the market. At the same time, the fact that many households can no longer qualify for a mortgage is keeping a lid on demand.

The company said housing prices should stabilize in two of the worse hit states, California and Florida, with most areas expected to show price declines through the third quarter of 2011, followed by gains the following year. Fiserv also said steep decreases are possible “in markets that have been hurt most by the housing crisis.”

In Florida, 10 percent gains in 2012 are foreseen for Ocala, Palm Bay/Titusville and Panama City, following small declines, while prices in the Miami, Ft. Lauderdale and Orlando areas are expected to continue to show significant declines.

In California, most markets are expected to show declines in double or high single digits through the third quarter of 2011, followed by moderate growth over the following 12 months. The nation’s biggest rebound is expected to take place in the Napa Valley region, with a 15.8 percent price appreciation predicted next year, following a 4.7 percent decline in the current one.

Tags: stable home prices, housing markets, unemployment, price declines, foreclosed properties, low mortgage rates, housing prices

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

February 8, 2011 (Shirley Allen)
mortgage-ball-and-chain-image
The average price of a single-family home declined 1.5% in the third quarter from a year earlier but home prices have already stabilized in about a quarter of all housing markets. Expect home prices to decline 5.5% this year, with three-fourths of the housing markets seeing prices stabilize by the end of the year with all markets stabilizing by the end of 2012.

According to a new analysis by information technology firm Fiserv, areas such as San Francisco, San Diego and Washington, DC have already stabilized, while areas like Phoenix, Miami and Los Vegas, and others with large inventories of foreclosed properties and high levels of unemployment are predicted to have significant price declines well into next year.

“Large supplies of foreclosed properties will continue to be the biggest downside risk for home prices and metro area housing markets,” said David Stiff, Fiserv chief economist. He said that in markets that were particularly affected by the housing bubble and subsequent crash, an irregular supply of foreclosed properties will cause prices to bounce around their lows for years to come.

The study found that reduced home prices and low mortgage rates have reduced the price of home ownership to pre-bubble levels, luring many potential buyers into the market. At the same time, the fact that many households can no longer qualify for a mortgage is keeping a lid on demand.

The company said housing prices should stabilize in two of the worse hit states, California and Florida, with most areas expected to show price declines through the third quarter of 2011, followed by gains the following year. Fiserv also said steep decreases are possible “in markets that have been hurt most by the housing crisis.”

In Florida, 10 percent gains in 2012 are foreseen for Ocala, Palm Bay/Titusville and Panama City, following small declines, while prices in the Miami, Ft. Lauderdale and Orlando areas are expected to continue to show significant declines.

In California, most markets are expected to show declines in double or high single digits through the third quarter of 2011, followed by moderate growth over the following 12 months. The nation’s biggest rebound is expected to take place in the Napa Valley region, with a 15.8 percent price appreciation predicted next year, following a 4.7 percent decline in the current one.

Tags: stable home prices, housing markets, unemployment, price declines, foreclosed properties, low mortgage rates, housing prices

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.