I finshed digesting the new IHS Global Insight market study, which at only 30 days old is probably one of the freshest market studies out there.
The study offers a snapshot as recent as the first quarter of 2009. It highlights the price declines in the major metros in fact showing that 199 of the 330 metro areas are in decline. Which shows signs of strength comparing to 312 markets down in 4th quarter 2008.
Also important to note was the Pacific Northwest remained the only overvalued region in the US according to the study. I literally just got back from Portland, OR which is highlighted as one of the most overvalued cities remaining.
Additionally it shows an OVER-correction in the market with America as a whole being 10% UNDER-valued. The biggest declines are still happening in Florida, California, Michigan, and Nevada. Michigan is feeling the pains of the auto and manufacturing center decline. This is unfortunate as many investment property sellers were touting this as a great market for cash flow. Maybe this is still the case but the long term prospects don’t look good.
IHS Global Insight
From the graph you can tell little of the US is overvalued. Atlantic city remained the only severely overvalued market. Important to note;
Atlanta, GA = 22% Undervalued
Memphis, TN = 24% Undervalued
These are both cities Investor Nation offers properties for sale. These cities are available at bargain basement prices. Also the study points out that pretty much the entire state of Texas is undervalued.
Considering the study along with the record low interest rates, the window of opportunity is likely small. Real estate went from highly overvalued in many areas to undervalued. I feel like we are living in unprecedented times.
Visit IHS Global Insight for the entire study.
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Unprecedented times, indeed, as far as real estate values are concerned. There is a positive trend shown by Investor Nation Advisors. This trend may also be noticed in Spain and all its provinces and isles. Quality properties will recover their value faster. High touristic areas seem to hang on and rather rent out cheaper than selling under price. They know travel will bounce back, as it’s one of most wanted pleasures and enrichments. Therefore, most holiday homes will survive well and all the rest depends on marketing in
the long run. This also means, it’s interesting to invest in a holiday haven.
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