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Bottom Dwellers Waiting to Pounce

August 7, 2012 by Marco Santarelli

The Wall Street Journal and The New York Times both published articles in the past six weeks stating that the housing market has reached a bottom.  But hold on for just a minute… It seems that not everyone believes it.

Even Yale professor Robert Shiller, co-founder of the S&P/Case-Shiller Home Price Index, admits to being a little bit skeptical.  In fact, he even told Fox Business last week that he's not entirely convinced that a bottom has been reached yet.

“It’s possible, but I’m not confident. This is partly seasonal,” Shiller said regarding the recent rise in home prices that have been documented over the past few months.

Only one thing is certain when it comes to economics: there is no certainty as to when an economic cycle has bottomed out until it’s already past.  This is especially true in real estate — one of the biggest driving forces behind our national economy.

[Read more…]

Filed Under: Foreclosures, Housing Market, Real Estate Investing Tagged With: Case-Shiller Home Price Index, Housing Market, Market Bottom, Real Estate Investing, Robert Shiller, Turnkey Investment Property

Further Home Price Declines Forecast Despite Recent Gains

October 27, 2009 by Marco Santarelli

Contrary to popular opinion, home prices have not bottomed out, according to the financial information and analysis firm Fiserv.

The firm projects median home prices will drop 11.3 percent by June 30 of next year. It predicts declines in 342 of 381 markets over the next year. Only then will prices stabilize, and rise 3.6 percent in 2011, the firm predicts.

The S&P/Case-Shiller Home Price Index had seemed to indicate prices had already stabilized. The composite index of 20 cities rose in May, June, and July, and home prices gained 3.6 percent nationwide.

But it now looks like that may have been a blip due to the impact of the tax credit for first-time homebuyers, analysts said. By the end of November, when it expires, the credit will have been used by 1.8 million homebuyers, at least 355,000 of whom would not have bought a house without the tax break.

In Fiserv’s latest forecast, the markets that will have the steepest declines are those with the greatest number of foreclosures.  [Are these new opportunities for real estate investors?]

[Read more…]

Filed Under: Housing Market Tagged With: Case-Shiller Home Price Index, home prices, Housing Market, Housing Prices, Real Estate Markets

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