Home Prices and the Double-Dip

Home Prices and the Double-Dip

Turn on the news in the morning in the Puget Sound area, and hear the anchorwoman tease a story coming up next, “Next we will find out from our expert whether we will be in a double-dip recession for housing”, as if were an inevitable answer. If all you heard was the tease, one would think the story is about sad news around home prices. The story comes on, and surprise --the discussion turns to the signs of home price stability going into the summer. In a recent post titled “Five Reasons to Buy a Home, I commented that no one truly knows when prices will be at absolute bottom, but one sure thing --once house prices begin to inch back up, the market is past the bottom According to Clear Capital “Home Prices Have Officially Double-Dipped”. New information released in June indicates that the median price paid for distressed properties has started to rise. What this means is the potential for stabilization of prices in the bank-owned or REO properties. Clear Capital goes on to state that the uptick in distressed sale prices combined with summer buying could lead to stabilized home prices. This June commentary follows the Clear Capital May report that commented on the much publicized “double dip” in most of the main media sources. More importantly…they noted that regular house sale prices are merging with the trend as well. So what exactly does this mean for the buyer? The markets are on the move and are changing. There are certainly some great homes & super bargains for WA home buyers in Olympia, Lacey, Tumwater, and Thurston County. RE/MAX brokers are listing and selling homes, including those that are bank-owned or short sales. For those sitting on the sidelines, it is ultimately up to you. If you are a person who is considering listing your home –it may be time to talk to a trusted source, a RE/MAX broker –we would be happy to discuss options and the market for your specific property. http://vicki.servingwateam.com/ Vicki

Vicki McLellan Headshot
Phone: 425-301-2595
Dated: July 2nd 2011
Views: 1,821
About Vicki: I'm a full-time licensed professional and love what I do. I use that enthusiasm to make the process ...

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