Hat tip to Richard for sending in this article:
http://realestate.msn.com/blogs/post–report-20-percent-of-homes-to-lose-value#scpshrjmd
The housing market has bounced back dramatically since the 2008 recession, but conditions have started to slow, a new survey says.
Veros reports 20 percent of homes are expected to lose value, while 80 percent are set to gain value.
Still, the housing market is yearning for a boost, instead of simply pent up demand from an unusually cold winter, which hampered economic growth and caused slightly stronger housing numbers toward the end of first quarter and the beginning of second quarter.
A slowdown in the pace of buying isn’t necessarily something to worry about when it comes to the health of the housing market, as this could bring price stabilization.
“We’ve been seeing major price swings over the last seven years and stabilization will be positive and will provide predictability to the market,” says Dani Babb, Broker/President of The Babb Group Real Estate Inc. “Some appraisers can’t even figure out how to value homes because of the swings.”
Unpredictable prices make conditions difficult for sellers who are trying to score the best price and buyers who may delay purchases if the market is telling them a significant price drop is on the horizon.
Strangely I was in pokipsie yesterday. It lacks any modern urban value. But then it lost its reason when the Hudson faded with the coming of railroads.