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Archive for January, 2011

Charlotte real estate prices fell 7.2% in Dec. from a year earlier.

They fell 2.5% in Dec. from Nov.

The 7.2%  price decline was among the smallest of the 20+ markets tracked by the national Home Price Index.

Denver Colorado was the healthiest of the 20 cities, with a 4% drop in home prices when compared with Dec 2007.

The overall national index of the 20 cities saw an 18.5% decline. Phoenix Arizona was the weakest market with a decline of 34%, followed by Las Vegas Nevada, down 33% and San Francisco California, down over 30%.

The national index says as of Dec 2008, average home prices across the U. S. A. are at similar levels to what they were in the 3rd quarter of 2003. From the peak in the second quarter of 2006, average home prices are down over 25%.

there are some strong signs that we just might be at the real estate turnaround point.

The first sign is the massive stimulus bill signed into law by President Obama is certain to pull new homebuyers into the real estate market who would have otherwise have stayed on the sidelines and kept renting.

The new federal tax credit goes up to $8,000 and does not have to be paid pack, unlike last year’s ineffective credit program. It’s mainly intended for first time homebuyers, but under the program definition, you’re a first time homebuyer as long as you haven’t owned or co-owned a house during the last three years.

You might have sold your long-time home in 2005 or early 2006, and haven’t owned a house since, but you still qualify as a first timer for the $8,000 credit this year. Hopefully there will be more incentives and buyers coming out. Personally, I’m expecting a great spring and summer.