Sonoma County Real Estate Values - Santa Rosa Prices to Rise 6% in 2010?
I'm backlogged on blogs right now but this story about Sonoma County real estate is something that I've got to share. It's a report on a nationwide forecast that shows Santa Rosa's home prices will see a greater increase this year than will homes anywhere else in the country. Check out the story in the Santa Rosa Press Democrat and please leave a comment. Can this be true? Would love to hear from you!
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I'd love if it were true. That being said I don't see how. There are so many homeowners seriously underwater and with more and more short sales coming on the market everyday, I don't see a rise in prices anytime soon. In the entry level price point we've seen a stabilization, but in the $500k plus we're still seeing drops, get up to $800k and it's still in a free fall. With the tax credit coming to and end soon, FHA raising the upfront premium on April 5th, and the Fed backing away from the MBS market moving interest rates up...It'd be a miracle this year! But keep smiling....if we can get through this...we'll get through anything!
Michael: I agree that there don't seem to be any obvious indicators to support a 6% increase in prices in Santa Rosa this year but I guess miracles do happen. I will keep smiling...and we will come out of this...to smile another day.
Well that's good news isn't it! 6% - not bad :-)
I hope this is true, and things are looking up for you!
Debi