outlook for worst housing markets for 09

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nootrac22

nootrac22

Well-Known Member
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1. Los Angeles
2008 median house price: $375,340
2009 projected change: -24.9%
2010 projected change: -5.1%
The median home price in the L.A.-Long Beach-Glendale metro area is projected to fall nearly 25% in 2009 - the biggest drop in the country.
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Courtesy: Stockton CVE 2. Stockton, Calif.
2008 median house price: $248,050
2009 projected change: -24.7%
2010 projected change: -4.0%

3. Riverside, Calif.
2008 median house price: $256,540
2009 projected change: -23.3%
2010 projected change: -4.8%

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AP Photo 4. Miami-Miami Beach
2008 median house price: $293,590
2009 projected change: -22.8%
2010 projected change: -6.4%
Miami will be nursing the hangover from its epic building boom for years to come. After falling 22% in 2008, prices are predicted to plunge another 23% next year.

5. Sacramento
2008 median house price: $225,140
2009 projected change: -22.2%
2010 projected change: 2.3%

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AP Photo/Joan C. Fahrenthold 6. Santa Ana-Anaheim
2008 median house price: $532,810
2009 projected change: -22.0%
2010 projected change: -3.5%

7. Fresno
2008 median house price: $257,170
2009 projected change: -21.6%
2010 projected change: -3.3%

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BusinessFacilities.com 8. San Diego
2008 median house price: $412,490
2009 projected change: -21.1%
2010 projected change: -2.9%

9. Bakersfield, Calif.
2008 median house price: $227,270
2009 projected change: -20.9%
2010 projected change: -2.5%

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AP Photo/J. Scott Applewhite 10. Washington, D.C.
2008 median house price: $343,160
2009 projected change: -19.9%
2010 projected change: -5.7%
 
A friend of mine was looking to move to California. From Westport CT (If anyone knows Westport, it's a NICE fucking town - richer incomes than the Rodeo area of Beverly Hills) . He was out there, and said that people drive to work with valid checks for $100,000 and will stop and buy a house on the way. In the morning when a sign went up, it was sold before 9am. The bidding wars there drove the prices up frequently to twice what people were asking.

he and his wife sold their home in Westport so she could move to California. The market there pushed them around quite a bit, while they were now renting their house to pay the people that bought their house. They were driven up a pole by a barking doberman. She killed herself 4 months into it.

Yeah, committed suicide. he was crushed, and still isn't doing too well.
 
Celerity said:
A friend of mine was looking to move to California. From Westport CT (If anyone knows Westport, it's a NICE fucking town - richer incomes than the Rodeo area of Beverly Hills) . He was out there, and said that people drive to work with valid checks for $100,000 and will stop and buy a house on the way. In the morning when a sign went up, it was sold before 9am. The bidding wars there drove the prices up frequently to twice what people were asking.

he and his wife sold their home in Westport so she could move to California. The market there pushed them around quite a bit, while they were now renting their house to pay the people that bought their house. They were driven up a pole by a barking doberman. She killed herself 4 months into it.

Yeah, committed suicide. he was crushed, and still isn't doing too well.
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That happened in most major cities.

I doubt we'll see a pull back of another 20-25% in the DC area this coming year, in fact where I bought the houses prices haven't really dropped much since the start of the year.

Tons of Gov workers = stable prices. Even more so when this area is getting more and more military workers sent here.

Too bad I can't say the same for other areas where a lot of people are losing jobs or seeing a cut in hours.
 
nootrac, hope you're right on DC. where did you get the data?
jeffie, how do you think the DC market will go?
i'll actually lose my cheap housing rental in may, was looking at purchasing something in No VA. i was thinking 1/2 yr to 1 yr for bottom, and lil price drop, but i'm no expert.
also i'm thinking there might be more govt aid for house buying in feb. trying to read up on buying a house and get all my stuff prepped.
 
hondasaurus said:
nootrac, hope you're right on DC. where did you get the data?
jeffie, how do you think the DC market will go?
i'll actually lose my cheap housing rental in may, was looking at purchasing something in No VA. i was thinking 1/2 yr to 1 yr for bottom, and lil price drop, but i'm no expert.
also i'm thinking there might be more govt aid for house buying in feb. trying to read up on buying a house and get all my stuff prepped.
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yahoo
 
hondasaurus said:
nootrac, hope you're right on DC. where did you get the data?
jeffie, how do you think the DC market will go?
i'll actually lose my cheap housing rental in may, was looking at purchasing something in No VA. i was thinking 1/2 yr to 1 yr for bottom, and lil price drop, but i'm no expert.
also i'm thinking there might be more govt aid for house buying in feb. trying to read up on buying a house and get all my stuff prepped.
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I hate NVA. would never live there myself but a lot of people love it there. nothing like paying yearly taxes on your autos, having your car inspected every year, not being able to use a radar detector, and having to worry about being thrown in jail for speeding.

As far as this area goes, if you keep it near major cities, I doubt it's going to go down all that much more, the area I'm in has been pretty stable, however you move out into the country a bit and those houses are the ones seeing the prices fall.

With rates in the 4-5s I highly doubt this area is going to pull back all that much, if anything more.

location location location....
 
i prefer VA. less crime, less taxes. auto tax is lame but i like the older cars so i can usually skirt by. safety insp can be annoying. they repealed the abusive driver fees. too bad the most northern part has been infiltrated by libs escaping DC/MD.
 
hondasaurus said:
i prefer VA. less crime, less taxes. auto tax is lame but i like the older cars so i can usually skirt by. safety insp can be annoying. they repealed the abusive driver fees. too bad the most northern part has been infiltrated by libs escaping DC/MD.
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Not sure if I agree with less crime, I guess it all depends on what city you're talking about.

PG county... yes I'd agree, PG county is the toilet of DC and all the crap from DC went into PG county.

I grew up not 5 mins from the PG county line.....

My GF has lived in NVA for 16 years or so, just outside of 495, she's worked mostly in the Tysons area and right now is working in mclean va, she moved to maryland and hasn't looked back. She use to have about the same time drive going 10 miles from her mothers house (NVA) to her job also in NVA, as she did driving 60+ miles from Maryland, nothing like sitting 1+ hour in traffic for a 10 mile drive.

Right now it takes her about 45-50 minutes to get to Mclean VA, thankfully she lives at 5am in the morning and misses the traffic, however if she has an late day she'll leave work around 5-6pm and it takes her about 60 minutes to drive the few miles from NVA into MD.....

She tells all her friends to come down this way, life is so much better, I think I get stuck in traffic maybe once every 2 or 3 months when there's a major crash on 97.

I love never having to inspect my Z, god forbids how I'd get it to pass. plus taxes was already paid up front so I never have a single tax bill on it.

While VA did remove the $3000.00 speeding tickets ( yes $3000.00 for you non NVA people) they will still throw you in jail if they feel like it, 15/20 over the speed limit is pretty much automatic jail time if you have a fast looking car or at all piss off the officer.

Fairfax county police FTMFW!!!!!!!!!!!

NVA does have a big plus with having TONS of stuff up there, lots of 24/7 hour food joints and just tons of stuff to do, although for some reason NVA doesn't seem to have a single bowling ally that doesn't look 20 years old and still uses old school computers. lots of traffic, lots of crappy roads, nothing nice backroad wise unless you travel a bit outside of the area, police that make other police seem nice, and asian drivers everywhere waiting to cut you off at any intersection. If I had a dime for everytime an Asian driver made a left turn from the 3rd RIGHT LANE. ...

Check out Anne Arundel county =) It's nice here and most of the police are pretty darn cool.
 
we have auto tax here... it pays for our schools.

it's not much... just got one for my truck, $168. for a year. whoopdie do.
 
B said:
we have auto tax here... it pays for our schools.

it's not much... just got one for my truck, $168. for a year. whoopdie do.
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No matter where you live you get taxes one way or another, if its not auto tax, its higher sales tax, or gas tax or or or....

I still hate the idea of it for each item I have.
 
fairfax county has no breathalyzer.
unfortunately i'm used to annual safety inspections/emmissions, coming from utah. gotta admit thats the time of year i do many repairs.
anacostia is usually murder capital of world.
yeah you can get jail for 20+ mph or double mph. MD is much nicer about speeders, esp on 495.
VDOT is dumb. roads change name every county/city, everything named after Lee. road signs in non contrasting colors. trees overgrow the signs. signs in small print.
you know what they say of DC, designed so invaders can't get out/in.
bad drivers here for sure, prob cause we can all afford cars ;) and fearless pedestrians. and ppl from countries w/ no cars come and learn here for 1st time, fun.
fob knobs (steering wheel)
all the MD news i see is bad news. red line suicide. lady that painted her car in fingernail polish.
VA roads aren't the best maintained, but fun to drive-hilly, corners, etc.
i'll check out anne arundel. i do like bethesda. for VA i like arlington and alexandria, anything closer than lorton or fairfax is good. baltimore and richmond suck.
US 1 is pretty sketch.
 
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