patrick.net

In the midwest, the lower end of the market seems to be heating up after years of decline. This place missed the CA/Phoenix/FL/Las vegas boom- but prices are starting to firm and inventory is being absorbed.

I even heard of one property that got-gasp-multiple bids and an offer at list price.

Call it Crazy says

We are #1 in Foreclosures!!

We're #1, We're #1...

And likely to stay that way for some time. Revel and ShowBoat are closing! I am going to miss ShowBoat.

Call it Crazy says

NJ housing market basically flatlining... Price increases have stopped and prices have turned downward... A lot of foreclosures coming on the market recently..

We are #1 in Foreclosures!!

We're #1, We're #1...

And your'e proud? You'll be living in a boat at this rate.

hrhjuliet says

Oregon, Washington and Utah seem to be going down, down, down. I was wondering if anyone felt this was the end of the readjustment there, or do you think there will be even lower prices next year? The Bay Area doesn't seem to be going up, but prices are still insane. I was thinking of selling my home in the Bay Area and buying there. Prices are cheap enough in the north that my whole family could move there with money in the bank from selling their Bay Area homes. I don't know anything about the northern area's markets, so I couldn't tell if they have also started to just flat line and what we are seeing is their bottom. I don't want to buy now and have it go down a lot more by next summer. I don't see much change happening in the Bay Area market, so selling now or latter doesn't matter here, but I'm afraid of buying now in the north while it's on its way down.

This will answer your questions:

http://www.cnbc.com/id/100424686

hrhjuliet says

I was thinking of selling my home in the Bay Area and buying there.

Sounds like people oh, about 10 years ago. A lot did it then, and I don't know that many regretted it. They aren't rich now...they would've made more "money" staying in the BA, but most seemed to be happy to get out of the BA, finances be damned. History repeats itself often...

hrhjuliet says

Oregon, Washington and Utah seem to be going down, down, down. I was wondering if anyone felt this was the end of the readjustment there, or do you think there will be even lower prices next year?

In Houston, prices have been going up - granted, that is (obviously) a relative term. I believe many houses have been getting multiple offers and usually sell for asking price or above. Still see a lot of sales that fall through, not sure if it's because the property isn't appraising high enough or what. I think listings have increased a bit, up-and-coming areas reflect that in the prices asked for homes (even homes that basically suck). Will it continue? We're growing down here, so I expect to continue to see a slow increase in prices, but I think/hope it will be slow.

a href="http://patrick.net/?p=1245128&c=1100447#comment-1100447">hrhjuliet says

Oregon, Washington and Utah

I would also add that it depends a LOT on where you go there. Just like Bakersfield vs. San Jose. Southern Utah is beautiful. But it is open, spacious, and massively built up over the past 10 years. So homes are plenty and cheap...and big! However, a city like Seattle is tight, old, and expensive...sounds familiar, right?