In an email question posted on the website, do you think we will see our properties appreciate the year? If you are to believe some of the reports and forecasts, property appreciation is expected in about 40 percent of the major metropolitan areas in the country.
Places like Texas, Louisiana, Arkansas, Oklahoma, South Dakota, North Dakota, and Iowa, and few others in the Midwest, you will probably have happy days ahead in terms of appreciation. However, places like Florida and Nevada will still continue to see the greatest depreciation. But, as I tell people all the time; “Florida lead the nation in increases between 04 & 06. That is why we are now having the biggest decreases”. It’s a leveling off. In 04 – 06 people were paying Artificially Inflated prices for property In Florida; we are now down to 1999 prices.
No one has a crystal ball of what will really happen in real estate in 2011. However, I’m seeing a lot more reports and predictions that there will be flat growth in real estate values. A few have even boldly said depreciation could continue by as much as 5 percent before bottoming out. And some say we are to expect as much as 15% here in Florida.
Don’t freak out by this potentially bad news. You could ask this question to 5 different encomiasts and get 3 different answers. Add in the point that our market is changing every day and you really need to do your homework and watch the trends and really see what is happening at any given point in the year.
Paul Antonelli
http://www.thatshortsaleguy.com/
http://www.centralfloridarealestateshow.com/
http://www.ownahomeincentralfl.com/
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