<p>just to re-post</p>
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<p>watch the un/employment figures, if they are improving in your local area, the prices will rebound, if not, they won’t.</p>
<p>Was in a commerical RE meeting, it was reported that during the gogo days of dotcom era (1999-2000), office space in “hot” area could be 4 times higher than “cold” area, even though they are just 30 min. apart by car. Quality of Employee is the major factor.</p>
<p>[Unemployment</a> in the U.S. - Google Public Data Explorer](<a href=“Unemployment in the U.S. - Google Public Data Explorer”>Unemployment in the U.S. - Google Public Data Explorer)</p>
<p>You can get retail jobs pretty easily…there are help wanted signs …</p>
<p>But where are you going to live?</p>
<p>^^Its the high pay quality emplyment that counts, not quantity. Marin residents are mostly from San Francisco where downtown SF will be the first choice, when it is too crowded/expensive, they will consider Marin and San Mateo… a cycle had just begin.</p>
<p>The number of “million dollar” homes in Tampa, Fl has halfed in last few years. There aren’t enough high paid athletes or sports team owners to go around to jack the prices back up! Florida’s real estate market is still flat for both ritzy and modest homes; it’s the off economy that is responsible.</p>
<p>[Economy</a> deflates number of $1 million homes | TBO.com](<a href=“http://www2.tbo.com/news/real-estate-news/2012/feb/08/stopeno1-ritzy-south-tampa-homes-hit-hard-by-reces-ar-355727/]Economy”>http://www2.tbo.com/news/real-estate-news/2012/feb/08/stopeno1-ritzy-south-tampa-homes-hit-hard-by-reces-ar-355727/)</p>
<p>Using the chart :</p>
<p>[Unemployment</a> in the U.S. - Google Public Data Explorer](<a href=“Unemployment in the U.S. - Google Public Data Explorer”>Unemployment in the U.S. - Google Public Data Explorer)</p>
<p>comparing San Joaquin county vs San Mateo/Marin, you can see why home prices is about 80-90% in SM/M counties compared to 25-30% in Stockton.</p>
<p>Our area in middle Tennessee is now regarded as a “seller’s market” based on inventory levels. That doesn’t mean you will get a great price for your house, but it IS encouraging. Our house has been on the market since October (a slow season with the holidays etc) and we have had a lot of showings lately. We moved out in early January to a house we built in the same area. I hope we sell soon, but we aren’t that worried about it since this area didn’t get hit nearly as hard as others by the downturn.</p>
<p>That said, my former employer is an industry-leading building products company that is dependent on housing starts. Things are not looking up significantly yet, although there are signs of life. I lost my professional job as a result of the housing crash, along with many others.</p>
<p>Marin residents choose Marin first…even if they work in SF…</p>
<p>The lifestyle is very different in Marin compared to SF.</p>
<p>Nice unemployment chart…</p>
<p>MomofWildChild…did you get another job?</p>
<p>lizard…what is the appeal of Tampa?</p>
<p>dstark- I have a job, yes. A contract position (should go permanent) with an excellent company that cruised through the downturn. Most days I can stand it. The people are nice and it’s a great company which many of you would be familiar with. It’s a big change… Thanks for asking. It was pretty miraculous that I got something so quickly, and got to be double paid through the severance period.</p>
<p>Hey, that chart thingy is pretty cool.</p>
<p>Check out this one:</p>
<p>[Unemployment</a> in the U.S. - Google Public Data Explorer](<a href=“Unemployment in the U.S. - Google Public Data Explorer”>Unemployment in the U.S. - Google Public Data Explorer)</p>
<p>MomofWildChild…that is a really nice result.</p>
<p>Notrichenough…I did not realize that Nantucket was such a volatile place…
Did real estate prices drop a lot there after the financial crisis started?</p>
<p>Agree with the comments about some pockets doing better than others in same areas and demand for walking neighborhoods. We are in south Orange County CA. According to our realtor, he would list our home 5% LESS today than he said he would have in October of 2011-- just 4 months ago. He said banks have gotten more aggressive with dropping prices in order to unload more homes and this was the reason he was changing our projected listing price. He was more concerned with these short sales negatively impacting the market than he was of foreclosures.</p>
<p>^^When the Kennedy’s fired a FEW nannies on Martha’s Vineyard, the unemployment shoots up, but they have to re-hire again, because they cannot help themselves to the kitchen.</p>
<p>Love that Unemployment site!</p>
<p>We’re at 4.9% (probably 9% U6) and businesses are slowly moving into town. Combine that with a huge mall opening in June and our real estate market should show a fair amount of improvement.</p>
<p>dstark, different strokes for different folks! The Tampa Bay area is home to about 4 million people. The appeal of Tampa area is about the same as all of Florida: warm weather and pleasant surroundings, beaches, sunshine, relatively low cost of living, inexpensive housing, no personal state income tax. Until last 10 years or so, Florida’s population has about doubled every 20 years since Florida became a state. The growth industry is what has largely fueled Florida’s economy since WW II. When Florida’s growth slowed down with the corresponding off economy, Florida suffered–Florida was too dependent on growth industries like new housing construction. Florida unfortunately has never been know as a high wages state which is not appealing–sunshine doesn’t pay bills!</p>
<p>Conforming Loan transactions seem to be where the action is, compared to Non-conforming Loans-- at least in CA.</p>
<p>Jshain…I guess what you stated is the big fear…that banks will unload homes and crush prices…</p>
<p>"^^When the Kennedy’s fired a FEW nannies on Martha’s Vineyard, the unemployment shoots up, but they have to re-hire again, because they cannot help themselves to the kitchen." :)</p>
<p>“sunshine doesn’t pay bills!”</p>
<p>BcEagle91…that’s a pretty nice unemployment rate you have there…</p>
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I think any place where the economy is seasonal will have a chart that looks like that. Plus, the actual number of people involved is really small:</p>
<p><a href=“Unemployment in the U.S. - Google Public Data Explorer”>Unemployment in the U.S. - Google Public Data Explorer;
<p>Trulia says Nantucket prices have dropped 30% from 5 years ago, but that the average listing price is $2.5+ million. Median sales price is only around $1mil, but the average is $1.6mil, so there must have been some hella big properties to move recently.</p>
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<p>I’ve been a lot more optimistic on employment since my son got a job.</p>
<p>One down and one to go.</p>