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CA and FL have the "most" Price Declines in 2007.

California real estate and Florida real estate had the most price declines in 2007, according to an 88 page report from the Office of Federal Housing Enterprise Oversight (OFHEO).  This report is titled "Widespread House Declines in Fourth Quarter," but in reading the report, theres good news for some areas of the country.  On pages 32 through 49 of this report,  the full list of the city appreciation and depreciation rates can be found.

Of course the title of the report isn't as positive as most of the data indicates.

Each set of statistics this report uses, show different aspects of the housing market.  Statistics can be used to make any point you want.  Choosing the best place to invest in US real estate has become easier with the information available in the Internet.  You still have to interpret statistics and read full reports to get the full picture.  US real estate still provides one of the best available forms of investment for people looking to grow wealth over the long run. 

The report can be found at:  http://www.ofheo.gov/media/pdf/4q07hpi.pdf 

Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613  Licensed in MA
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@CapeGroup  Skype: heath.coker

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Comment balloon 6 comments • Associate Broker Falmouth MA Cape Cod Heath Coker • May 26 2008 07:28AM

Comments

Being from Florida I can believe that.  It is shocking what some of the properties are going for now.

Posted by Gary McAdams (GMAC Schwartz Property Sales) almost 12 years ago

Heath,  I'm in Orlando and I've got to tell ya. homes are a dime a dozen. I just saw a home sell for $350k that was over $600k 3 years ago. WOW.

Posted by Jerry LaRose - Orlando Fl Real Estate Expert, Orlando Fl Real Estate Expert, Short Sale Expert (Orlando Realty Partners, Orlando Short Sale Specialists) almost 12 years ago

It took 88 pages to tell us this? A 100-word email message could have done it. No big surprise.

Posted by Steve Hoffacker, Certified Aging In Place Specialist-Instructor (Steve Hoffacker LLC) almost 12 years ago

To add to the report; CA & FL also had the highest rate of appreciation and increase in property values between 2003-2006. So, it is only natural that the adjustments be profound as well.

Posted by Mott Marvin Kornicki, Waterway Realtors, Notary Public 786-229-7999 (Waterway Realtors® • South East Florida • Real Estate Brokers) almost 12 years ago

Heath, wow, what a detailed report. I was surprised that Michigan wasn't the leaded in depreciation. Thanks for sharing. Duane

Posted by * Rate A Home (Rate A Home) almost 12 years ago

I thought the title of this report was deceiving.  There is so much more good news in there.  Like 40 of the 50 states are still positive!  Makes you wonder who is making the media cool-aid?

Posted by Associate Broker Falmouth MA Cape Cod Heath Coker, Heath Coker Robert Paul Properties Falmouth MA (http://www.CapeGroup.com & http://www.REindex.com) almost 12 years ago

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