As these markets cool down, we'll begin to see mortgage defaults increase in 2006.
We're seeing reduced price appreciation in the Pacific Northwest, and Alaska although population growth and job growth there remain strong.
We're seeing shrinking builder profit margins, and more and more incentives being offered to attract buyers. That's an indication of a shift to a buyers' market.
A great many risky loans were issued in California as home prices reached the stratosphere. Interest only and option ARMs were used by many buyers to qualify for homes they could not otherwise afford. That means trouble in the near and intermediate future.
We're beginning to see price declines in most eastern markets in the fourth quarter of 2005.
Other Florida cities are showing similar price profiles, with the biggest inventory buildup on the state's West Coast. That buildup will lead to increased time on market and put more downward pressure on prices.
Our mission has always been to help investors create win-win scenarios that benefit both the troubled homeowner and the investor. The owner in distress saves some equity for a new start, and the investor realizes a profit on the resale of the home. That's far better than having the owner lose everything in an auction on the courthouse steps.
The median home price in Boston fell 4.5% over the last three months. In Washington D.C. prices were flat over the last 30 days, but down 5.4% over the last 90 days. Realtors outside Manhattan in New York City report a shift to a buyer's market.
Copyright © 2024 Electric Goat Media. All Rights Reserved.