Will 2012 finally offer the real estate market some stabilazation in home values?

Answer 1

I think so.  I wrote a blog entry about it earlier in the year:

http://santacruzhomebroker.com/santa-cruz-real-estate-blog/2012/01/12/santa-cruz-real-estate-forecast-2012/

Now I am writing about my local market, and every market is different, but generally speaking I think that we are or have reached a point of stability.  Of course some markets are now strongly rebounding and others continuue to sink lower, so your mileage may vary.  :)

Answer 2

All real estate is local. My local marketing is stabilizing. Some areas are not. Some are going to get worse when new REO homes hit the market. When you watch the news, those are national numbers and information you are hearing about. Always consult with a local realtor in your area.

Answer 3

We are currently seeing a rebound in the Arizona home market with very low inventory and some area's prices starting to rise. We currently have a good market of Short Sales that we need to get through.

Answer 4

Our market in Silicon Valley is stable at the moment. But there will be more foreclosures on the horizon. The hint that this is happening is the approach the banks take when discussing clients situations with them. I have experienced this roller coaster ride for the last few years. The first indicators of a shift is the banks response time and level of negotiation. They are being less flexible. This is due to the DOJ settlement is behind them. The 2nds are gone, and the servicing has been sold. So they are back in a position of strength. The Media has exhausted the negative impact. So they will now be agressive to foreclose in order to liquidate. There are still options and stopping a foreclosure is very easy as long as you understand what the bank must do to proceed.

 

blessings,

mario