Case Shiller January 25, 2011 Portland, OR

25 01 2011

News is not a surprise, but the headline instills fear into the marketplace…”With these numbers more analysts will be calling for a double-dip in home prices.”

What?  Yes.  It is partly true.  Eight cities out of the 20 city composite in the Case-Shiller index have confirmed that their current prices (November 2010) are below their April 2009 lows.  The folks at Standard & Poor’s are breathing a prediction that many other cities will follow suit in the coming months.

What got missed?  San Diego posted yet another gain, though small, of .1%!

The fear is temporary.  Like a shot from the doctor, it will keep us healthy in the long term.  If you must or want to sell now, do it and take whatever price you can get.  If you want to buy, do it, the further drops are not considered losses if loan rates go up 1% in the next year, you lose 10% in home purchase value and gain 10% in monthly payment amount as well.

It is worth it if you can, but please consult others in the process.  Right now the wealthy and near-weathy AND smart are purchasing second homes and high-end real estate in many markets across the country.  That is a message worth listening to at the moment.

Here is the report!

January 25, 2011 CS Chart

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