Us Housing Meltdown
Us Housing Meltdown
How much should someone pay for a house today so they don't overpay and get stuck with a house that falls in value?
San Diego, CA - July 31, 2008 - www.UsHousingMeltdown.org has released two home price tools to assist consumers in determining what to pay for residential real estate. The tools provide users with the top limit, Home Price Ceiling Fundamental and the bottom limit, Home Price Floor Fundamental for how high and how low home prices can go in a specific area. The pricing tools are based on time tested housing fundamentals.
Home prices in bubble areas busted through the Ceiling to prices levels that are unsustainable. Prices in these areas are now falling to price levels below the Ceiling where they can be sustained.
Home prices in economically challenged areas have been falling toward the Floor where they will reach support levels due to investment returns.
"Until now, consumers haven't had tools to provide them a sense of future price direction of home prices. Consumers have been limited in evaluating home prices to using Comps or comparable sales information. Comparable sales information will identify what houses sold for yesterday, but Comps don't offer insight to future prices" says Marc Austin Editor-in-Chief of UsHousingMeltdown.org.
"In a market where home values are falling, consumers are more interested in getting a sense of what prices look like into the future and how much risk there is to further depreciation in the months and years ahead."
Market prices indicated by Comps tend to move up and down between the Ceiling and the Floor. Consumers can compare current market values identified by Comps to the values indicated by Home Price Floor Fundamental. The difference between the market price and the price indicated by the Home Price Floor Fundamental tool is the amount of additional potential depreciation. The closer the market price is to the Floor the less risk there is to further price declines. Today, in many markets, houses are close to or at the Floor, meaning there is limited risk to further price declines.
Consumers can find the Home Price Ceiling Fundamental and Home Price Floor tools www.ushousingmeltdown.org/home-value.asp . The tools are free to use.
Real estate websites looking for a tool to complement the information produced by Comps can download and use the Home Price widget at no cost. Many potential buyers are hesitant to pull the trigger on a home purchase for fear of buying a home that falls in value. By comparing current market prices indicated by Comps to Home Price Floor Fundamental™, real estate agents can show potential buyers just how much risk, if any there is of additional prices declines when considering a home purchase.” To download the Home Price widget go to www.UsHousingMeltdown.org/real-estate-agent-widgets.asp
About UsHousingMeltdown.org
(USHM.org) The mission of USHM.org is to provide non-biased information and commentary on the US Housing Market. USHM.org is not tied to, or supported by the real estate industry. The Home Price Tools can be found at www.UsHousingMeltdown.org and are free to use.
Media inquires to Ryan Brown at ryanb@ushousingmeltdown.org. (858)764-4216.
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How much should someone pay for a house today so they don't overpay and get stuck with a house that falls in value?
San Diego, CA - July 31, 2008 - www.UsHousingMeltdown.org has released two home price tools to assist consumers in determining what to pay for residential real estate. The tools provide users with the top limit, Home Price Ceiling Fundamental and the bottom limit, Home Price Floor Fundamental for how high and how low home prices can go in a specific area. The pricing tools are based on time tested housing fundamentals.
Home prices in bubble areas busted through the Ceiling to prices levels that are unsustainable. Prices in these areas are now falling to price levels below the Ceiling where they can be sustained.
Home prices in economically challenged areas have been falling toward the Floor where they will reach support levels due to investment returns.
"Until now, consumers haven't had tools to provide them a sense of future price direction of home prices. Consumers have been limited in evaluating home prices to using Comps or comparable sales information. Comparable sales information will identify what houses sold for yesterday, but Comps don't offer insight to future prices" says Marc Austin Editor-in-Chief of UsHousingMeltdown.org.
"In a market where home values are falling, consumers are more interested in getting a sense of what prices look like into the future and how much risk there is to further depreciation in the months and years ahead."
Market prices indicated by Comps tend to move up and down between the Ceiling and the Floor. Consumers can compare current market values identified by Comps to the values indicated by Home Price Floor Fundamental. The difference between the market price and the price indicated by the Home Price Floor Fundamental tool is the amount of additional potential depreciation. The closer the market price is to the Floor the less risk there is to further price declines. Today, in many markets, houses are close to or at the Floor, meaning there is limited risk to further price declines.
Consumers can find the Home Price Ceiling Fundamental and Home Price Floor tools www.ushousingmeltdown.org/home-value.asp . The tools are free to use.
Real estate websites looking for a tool to complement the information produced by Comps can download and use the Home Price widget at no cost. Many potential buyers are hesitant to pull the trigger on a home purchase for fear of buying a home that falls in value. By comparing current market prices indicated by Comps to Home Price Floor Fundamental™, real estate agents can show potential buyers just how much risk, if any there is of additional prices declines when considering a home purchase.” To download the Home Price widget go to www.UsHousingMeltdown.org/real-estate-agent-widgets.asp
About UsHousingMeltdown.org
(USHM.org) The mission of USHM.org is to provide non-biased information and commentary on the US Housing Market. USHM.org is not tied to, or supported by the real estate industry. The Home Price Tools can be found at www.UsHousingMeltdown.org and are free to use.
Media inquires to Ryan Brown at ryanb@ushousingmeltdown.org. (858)764-4216.
Full HTML version of this release, Images, Video, PDF and MSWord:
http://www.rapidpressrelease.com/press-release/Real-Estate/005791.asp
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