Zillow’s 4th Quarter Real Estate Market Report
by Tom on February 4, 2009
in banks, house prices
is out. Download a copy of it at Zillow.
A couple of thoughts about it:
- This report illustrates very well that real estate is local. The variations between different regions in property values and their year over year change is quite dramatic.
- There were very few places that actually registered a positive change in property values, but there were some.
How does this relate to what you are seeing in your market?
Also, while real estate is local, lending isn’t and what does something like this mean for mortgage lending?
- The likelihood that downpayment requirements aren’t going to loosen up any time soon.
- That as the job market deteriorates and more people are struggling to keep their homes due to job losses, property values are going to continue to be under stress and losses at banks and at Fannie and Freddie are going to be ongoing…..
What do you think?
