Where HomePrices Crashed Early, Signs of Rebound

[Camellia]

http://www.nytimes.com/2009/05/05/business/economy/05turnaround.html?_r=1&em

...This city was among the first in the nation to fall victim to the real estate collapse. Now it seems to be in the earliest stages of a recovery, a hopeful sign for an economy mired in trouble and anxiety.
Investors and first-time buyers, the traditional harbingers of a housing rebound, are out in force here, competing for bargain-price foreclosures. With sales up 45 percent from last year, the vast backlog of inventory has diminished. Even prices, which have plummeted to levels not seen since the beginning of the decade, show evidence of stabilizing....

 

[Kurt]

Sacramento is still desirable to the big market of San Francisco. SoWal has a big market spanning the southeast US and beyond.

 

[gmarc]

It seems sowals prices still dropping hard. i've been keeping up with the daily price reductions and its staggering.Its seems my thought that foreclosure prices would reset the mkt are correct.I've tracked a few areas that had several reo's and it seems the mkt is dropping to near them like a magnet