(MarketWatch) -- Challenging real estate markets can be found across the U.S. as home prices decline, sales fall and foreclosures rise. But in some places the biggest challenge has been convincing would-be buyers and sellers that local conditions don't resemble the national trends.
It's a challenge that Randy Jeffers, chairman of the Texas Association of Realtors, faces all the time.
As Dean explained in his book, there are a lot of factors that changes how the cycles go up an down in real state nationally and locally. I'm sure all of you have read article online about Stockton, CA being one of the worst cities with high foreclosures. Well, trends here in Northern California are changing and home sales have began to increase since January of 2008. As a new investor I had a price range of $170K and have placed approximately 20 offers for this amount or less. Well, doing this for the last four months and not getting a property, I had to change my strategy.
Some of the markets are looking like great opportunities. Others (like Detroit) look not so great.
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http://finance.****/real-estate/article/104619/How-Home-Prices-Fared-in-...
National home prices fell 8.9% in the full-year 2007, according to figures released recently by the Standard & Poor's/Case-Shiller Home Price Index.
"Wherever you look things look bleak," says Robert J. Shiller, chief economist at MacroMarkets LLC, which recently sold its rights in the indices.
So what does this book tell us about our storied real estate market?
"I recently spoke to Joe Gyourko (an economist at Wharton School of Business), probably the premier real estate economist in the country for a couple of hours about this," Florida said. "It's not that superstar cities don't go up and down, it's that they are more resilient than other regions."
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