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Zip realty report card shows 20% home price increase


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2012 Sep 6, 2:33am   9,889 views  22 comments

by dhmartens   ➕follow (0)   💰tip   ignore  

http://www.ziprealty.com/blog/summer-report-card-home-prices-all-over-usa

Any truth to this?

We hope you’re all enjoying the fervor of the summer games in London! We’re so proud to watch our athletes winning medals at the Olympics and anticipate each day’s results – but today, gold medals aren’t the only good news going for the USA. You may have missed it watching the Men’s 100m Freestyle race, but we’ve got some new numbers in this week that support the recovery of the housing market.

#housing

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1   LarryPatrickMaloney   2012 Sep 6, 3:20pm  

Another way to look at this is:

"What is the average winning bid at foreclosure auctions?"

As the prime mortgages, and prime markets than have had their collapse stalled by govt. intervention, the median price my seem to go up.

Make sense?

2   37108605   2012 Sep 6, 9:06pm  

My response to this crap, LOL ROFL LMAO

3   bubblesitter   2012 Sep 7, 1:25am  

Darrell In Phoenix says

Truth to a realtor chart?

BHWHAHAHAHAHAHA!

Look at the positive side. I always know the correct news,chart etc. by reversing the data from any pro realtor site. It is that simple!

4   curious2   2012 Sep 7, 1:57am  

The OP's chart numbers are much higher than the Case Shiller numbers:

http://www.multpl.com/case-shiller-home-price-index-inflation-adjusted/

I tend to trust Case Shiller more than a realtor site.

LarryPatrickMaloney says

"What is the average winning bid at foreclosure auctions?"

That points to the right question for any aggregate statistic about housing prices, because they tend to track median or mean sale prices, which vary depending on which sector has the most sales. The subprime foreclosure wave skewed median sale prices downwards partly by flooding the market with low quality inventory.

For several years I have maintained a housing price spreadsheet based on Zillow estimates of homes that interested me. It shows prices down 20% from their peak around 2006, but up 20% from their valley last year. The OP's "20% home price increase" is either true or false depending on the starting point, i.e. increase compared to what year.

I am not a realtor and I make no prediction as to where housing prices will go in future. The federal government is doing everything it can to prop up housing prices. Officials call that "helping homeowners" but in reality it is about helping lenders at the expense of everyone else, especially renters. In my opinion, if we had a genuinely free market, housing prices would be much lower, but neither major party advocates that.

5   pkennedy   2012 Sep 7, 4:03am  

Having watched housing prices now for awhile now, I would say 10-20% in many areas would be around correct, at least on the low-mid level homes. I'm having a very hard time purchasing good deals now, because people are starting to realize they can buy and rent out properties for large profits.

Housing won't go down from here, because now that people know this, they're going to keep buying until they break even. The last couple of years were great, now it's getting hard to find those fantastic deals. Of course I'm looking for 20% cash on cash returns. Those are almost impossible to find now...

6   Eman   2012 Sep 7, 3:14pm  

pkennedy says

Having watched housing prices now for awhile now, I would say 10-20% in many areas would be around correct, at least on the low-mid level homes. I'm having a very hard time purchasing good deals now, because people are starting to realize they can buy and rent out properties for large profits.

Housing won't go down from here, because now that people know this, they're going to keep buying until they break even. The last couple of years were great, now it's getting hard to find those fantastic deals. Of course I'm looking for 20% cash on cash returns. Those are almost impossible to find now...

LOL! What are you smoking? Can I have some? I like it.

You have been watching housing prices for awhile now? Housing won't go down from here? LOL!

Last couple of years have been great? 20% cash on cash returns? Man, you're killing me. Since when did you become a housing cheerleader?

I couldn't stop laughing reading your post. Too funny. LOL!

7   Eman   2012 Sep 8, 5:22pm  

Darrell In Phoenix says

Prices are still falling and in fact the declines are accelerating once again.

On the other thread, you said prices increased 0.5% YoY, and on this thread you claim that prices are still falling? How do you expect people to take you serious when you're making contradicting statements?

Care to wager on that?

8   37108605   2012 Sep 8, 7:37pm  

I suggest in CA especially say Southern California and most especially Malibu area, and check into both property histories, and look at the tax records of the same over bloated greed pricing sought today. Let's say all those over 10M but especially anything around 50M plus and less than 10 years old or since remodelled, and outrageously overhyped and not sold. Look at the tax records.

You may be astonished how many of these places are paying a fraction of what one may think in property tax under the current laws.

9   37108605   2012 Sep 8, 7:40pm  

curious2 says

The subprime foreclosure wave skewed median sale prices downwards partly by flooding the market with low quality inventory.

Subprime? Jesus, are we are on that kick again?! Is that the excuse for everything for some people? It's the "subprime" market that is "to blame" for the real estate nightmare? Come on! Are you on planet Earth?

Take a look at the unsold property around the county please and get the loopy liberal glasses off, it is just not subprime foreclosures ...it is GREED!!! that has flooded the market. The high end market has defaulted just like the rest.

10   Bigsby   2012 Sep 8, 10:47pm  

Darrell In Phoenix says

Inflation adjusted prices are down, non-adjusted are up 0.5%.

You liars will do anything to discredit the truth and those that speak the truth.

Why do you do that? Because you have a stake in the direction of prices.

You're liars and untrustworthy and we will inform the public of that fact.

You can't even tell the truth about where you live.

11   Bigsby   2012 Sep 8, 11:04pm  

Darrell In Phoenix says

And prices are falling where you live too.

Isn't increasingly lower housing prices great?!

How about in Phoenix? Oh, sorry, you wouldn't know.

12   Bigsby   2012 Sep 8, 11:15pm  

You mean prices aren't 65% lower? My, oh, my.

13   Bigsby   2012 Sep 8, 11:28pm  

Darrell In Phoenix says

It's going to take time Robert. Most areas of the country are just entering their price decline phase.

Arf. Just entering their price decline phase? Sure they are. Have you been asleep for the last 5 years in your parent's basement?

14   Eman   2012 Sep 8, 11:59pm  

Darrell In Phoenix says

And prices are falling where you live too.

Isn't increasingly lower housing prices great?!

How much did you lose during this last housing bubble Darrell? Was the realtor for your purchases your ex-girlfriend? I know it's hard to admit it, but you'd have to get over this hump so you can thrive again. Maybe, just maybe, I have a little more faith in you than your ex-girlfriend.

15   Bigsby   2012 Sep 9, 12:00am  

Darrell In Phoenix says

Robert,

NYC, Boston, Philly, SF, Dallas, DD are all entering their price decline phase. And worse yet, prices are falling irrespective of location.

Have you been lying all your life?

I'm sorry, but I'm not Robert. Try again. Rather like you should with all your 'data.' If you think house prices in the US are just entering their price decline phase, then you are a simpleton. RaL, you really need to try and up your game because your broken record routine isn't really going anywhere. I suggest a bit more variation in your trolling.

16   Bigsby   2012 Sep 9, 12:01am  

E-man says

Maybe, just maybe, I have a little more faith in you than your ex-girlfriend.

That makes one of us.

17   Bigsby   2012 Sep 9, 1:01am  

Darrell In Phoenix says

This isn't about me kids. It's all about you and your misrepresentations of housing. And we'll be here exposing them every single time.

And if you think housing prices have bottomed, you're going to be stunned over the coming years and decades.

Who said they've bottomed? I've no idea if they have or haven't. What I do know is that prices won't 'crater a further 65%.' Not even close.

18   Eman   2012 Sep 9, 1:41am  

Darrell In Phoenix says

This isn't about me kids.

And if you think housing prices have bottomed, you're going to be stunned over the coming years and decades.

First of all, I'm pretty old. I don't know how many more decades I can live so I will likely not get a chance to see a 65% decline in house prices. I might dropped dead by the time the decline got to 62%.

Declining house prices is good for the buyers and investors, but bad for the sellers, speculators and Uncle Sam due to lower property tax revenue.

You should understand that there are always two sides to a coin kid. One man's misery is another man's blessing.

Now it's time to go get some coffee and go play tennis. See ya later kiddo. I hope you've grown up a little and be a little wiser by the time I come back.

Peace!!!

19   Bigsby   2012 Sep 9, 9:58am  

Darrell In Phoenix says

Bigsby says

Who said they've bottomed? I've no idea if they have or haven't. What I do know is that prices won't 'crater a further 65%.' Not even close.

You're probably right. To get to pre-bubble prices, prices need to fall another 80-85%.

Which particular pre-bubble prices would those be? The ones 40 years ago?

20   Bigsby   2012 Sep 9, 10:14am  

Darrell In Phoenix says

Why buy a house now?

Especially when you're living rent free in your parent's basement.

21   Ignatius Pugg   2012 Sep 11, 2:24am  

Darrell In Phoenix says

Especially when prices are cratering. ;)

Prices are definitely not cratering in New York or Boston. Things slowly pop on the market and people grab them up. I know this because I am keeping my eyes open for opportunities, and there aren't many. Of course there is lots of shadow inventory out there, but if you hold your breath waiting for banks to let their dogs out in a panic then I'm quite certain you will asphyxiate. In the long term these booming cities have to keep growing, and real estate isn't going down.

So my suggestion is to let what happens in Phoenix stay in Phoenix. I'm sure it's a great place to buy properties to rent out, because not many people there can afford to gas up their SUV every time they need to cross their 6-lane street to buy donuts. Plus, prices will probaby fall in there in the long term as the heat index keeps rising and the waer supply finally gives out.

22   37108605   2012 Sep 11, 3:11am  

repo4sale says

If you cannot accept these numbers, then your probably worth under $1 million net. I think these numbers are correct, based on too much CASH in the market. Add in the super cheap mortgage money & I feel we are in a time period like 2001-2002.

IRR/MATH GENIUS!

What? If we "cannot" accept?

DING DONG we chose NOT TO accept and that boils down to brains.

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