At least for the area I live in (Franklin county Ohio, which is normally one of the strongest , large metro counties in Ohio). Realist (a real estate service I subscribe to) finally posted up the total sales in this particular county for September.

Sep 2010	465	$143,000
Sep 2009	1,031	$150,000

So that's a resale decline of almost 55% and a value loss of 4.6%



Sad times ahead :(

That's funny, I live in a New Construction community with about 45 houses left to build.  August and September were their best selling months...sold 9 houses in August and 7 in September.  

I understand how averages work...I just wanted to point out that some areas are actually doing quite well these days.

Didn't you hear, the recession ended a year and a half ago.  At least according to the Democrat dominated government.

I hate to say thing but that value loss is trailing reality significantly. Granted, here in Clearwater FL we still have some delusional folks trying to play the flipping game (seriously, a granite counter-top does not turn a 2 bedrom closet in to a 200k McMansion, get over it) but some areas a little further out from Tampa are starting to see their prices just disintegrate. Sadly, many of said-same areas are also seeing big spikes in crime as well.

I know Franklin county as a whole passed the # high of murders in the latter part of August or earlier part of September.



 

Our valley is littered with subdivisions ranging from plats with roads and lights to half-full subdivisions with 50% vacant lots sitting with 2 years weed growth between $350k upper middle class homes. The property tax situation is such that since most of these plats began as farmland the owners have thrown up panel corrals on them (right over pavement and scraped home sites) to regain/retain the agricultural tax exemption. Developers are drowning in land right now. Some are so deep in a project that they have no choice but to finish even though it is painfully obvious that there will be few if any buyers.

I took a photographer flying yesterday who used to do a dozen flights a month with me snapping residential real estate shots. He has not had a single call .........this year.

Our firm was looking into residential shots from the air...........we scrapped that pretty quick.



 

But on the bright side, unemployment dropped suddenly.  

Scared to get my home appraised......................

Considering how badly the market is saturated in some areas, values still haven't bottomed out.

It is el volcado de grandes

They are lovely when the home is in an established neighborhood with good surroundings. Doesn't work so well when you are trying to sell that one model home in a vacant 80 acre subdivision and the bankrupt developer hasn't watered the landscaping or done weed control in a year.

Why buy now? Wait 'till next year when all those 3 and 5 year balloons go up.