Just when you thought it was safe to go back into the water.
Realtor Coaching students……important housing data that you must know. Housing depreciation is picking up momentum. In other words, look for faster and steeper depreciation in home values over the next few quarters…..
The real estate downturn is picking up speed again. Continued negative economic news combined with the seemingly never ending credit crunch is forcing a new wave of home value depreciation.
After months of slowed-down price drops that hopeful commenter’s pegged as signs of a bottom, the third quarter saw record year-over-year price decreases of 16.6%, according to the S&P/Case-Shiller Home Price Index.
The number of bank owned homes (REOs) will unprecedented. Clearly, one of the best opportunities in this market in this real estate market is being a REO Listing Agent. Learn the exact how-tos now. Download the free Agent REO Secrets Guide Book NOW.
Case-Shiller calculated that third quarter prices fell -3.5% against the second quarter; the second quarter had fallen -2.2% versus the first quarter. Month-to-month figures do not auger well for those hoping for firmer home markets going forward. Between August and September home prices fell -1.85%, the fastest clip of the past six months. Prices only fell -0.49% between April and May, giving some real estate watchers hope that the declines were declining.
The sheer number of homeowners with negative equity in their homes..the ‘Underwater Homeowners’ is staggering. Its predicted that by this time next year nearly 50% of all real estate transactions will be either foreclosures or short sales. Realtors, learn how to easily list and close short sales now. Download the free Agent Short Sale Secrets crash course now.
John Osbon, founder of Osbon Capital Management, notes that the amount of debt load versus the value of housing stock has soared over the past 10 years, from 31% to 53%. “Debt load, or more like a giant margin call,” he says.
Tags: 2009 depression, home values, house value, property depreciation, realtor coaching, realtor coaching reo, realtor coaching short sale
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