House prices continue to fall in certain areas. If you are thinking of buying, March is looking like it may be the best time. And, of course, there is that little bonus by buying before April 30th, of $8,0000! Make a move already. I’m here to help. Let’s get started!
Here is the article:
Report: Home Prices Likely to Hit Bottom in March
Home prices in 45 of the largest housing markets are expected to fall another 4.2 percent before they hit bottom in March, according to First American CoreLogic’s LoanPerformance Home Price Index.
By October 2010, prices are expected to be heading upward again by about 1 percent compared to 2009.
The report warned that this progress could be jeopardized by an increasingly large “shadow inventory” of homes owned by banks but not yet on the market. The problem is particularly acute in Michigan and Ohio cities, the report said. It projected a 12.7 percent further decline in values in Detroit, an 11.4 percent decline in most of the rest of southeast Michigan, and a 6.3 percent fall in Cleveland.
The report expects the strongest recoveries next year in California cities. These include:
- San Francisco, up 5.7 percent
- Los Angeles, 5 percent
- San Diego, 4.7 percent
- Sacramento, 4.6 percent
Source: Inman News (12/21/2009)