Have U.S. Prices Hit Bottom?

Well, there’s a great question to start the new year. Have U.S. real estate prices bottomed out? And the answer really depends on how carefully you read the data. Many Wall Street firms are already on record as saying that the bottom is in sight. Many real estate companies and investment groups are saying the same thing. However, in a really interesting article in Forbes today, the case is made that the data leading to ‘we’ve finally hit bottom’ is somewhat skewed.

I agree!

Yes, if you look at the national home price data, it would appear that the bottom is here. But the Forbes article makes the very valid point that the data is somewhat misleading due to the fact that many urban areas have shown or will show extremely high growth in 2012, leaving most of the other areas of the country still tumbling. Perhaps the best answer is that the bottom has been reached in some very selective markets, but overall it still looks like the decline continues.

So, what to do?

Well, if you’ve been following us and reading the information on our website, you know that one of the areas where we’ve been buying properties is Orlando.  If you’ve been following that advice, here’s the great news from Forbes:

…expects Orlando, Fla. home prices to rise 11.7%, hard-hit Bakersfield, Calif. 11.1%, government jobs-driven Washington, D.C. 9.3%, foreclosure-riddled Phoenix, Ariz. 8.9%, and sales-heavy Miami, Fla. 8.8%.

It’s still a great time to buy U.S. real estate, but you need to be educated first. You need to know what you’re doing and that’s why we’re here to help. If you’re interested in purchasing or investing in U.S. real estate, contact us today.

The opportunity is still huge!

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