New York City's Barclays Capital is reading the signs: home prices are stabilizing (with huge regional differences), loan modification efforts have increased, banks are more aggressively trying to dump their foreclosure portfolio. Could these mean the market is nearing bottom?
Barclays analyzes earnings from 20 banks, regional and national, to determine expectations of the housing market. While the 2010 outlook is mixed, many lenders agree home prices appear to have stabilized in several regions of the country. Certain markets - Arizona, Nevada, and parts of Florida predominantly - continue to exhibit softness in property values.
Our market in Florida is a good example of one of the conclusions of the analysts: the plethora of foreclosures already in the pipeline will likely weigh on the housing market for the foreseeable future.
Still, conclusions of the Barclays report indicate "The prices of real estate and the write-downs have been so significant that people are now starting to say maybe the bottom has been reached or maybe we're on the upside of that depending on the market. "
Our Ormond Beach home sales have significantly increased, but prices have not. Supply and demand will eventually exert some pressure, as inventory decreases. Contact me for ideas on how to take advantage of the Ormond Beach real estate market as it nears bottom. Search Ormond Beach homes for sale and let me discuss the best bargains you can find.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com
www.daytonabeachscene.com
www.ormondbeachscene.com
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