Jan, Other/Just Looking in Huntington, WV

On the averabe, how much has property devalued in the local area for the last 12 months? Or appreciated in value?

Asked by Jan, Huntington, WV Mon Jan 17, 2011

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Jan,
Homes in the Huntington West Virginia area have depreciated, but not at the alarming rate of other areas. Generally they are flat, to -5% to 10%. That being said, the real issue in this market and many others is finding qualified borrowers to purchase your house. lending has so many obstacles, that it's become very difficult to sell your house. This seems will remain the trend for a while. lenders have become very very tight with regard to underwriting guidelines, not that i blame them. This is coming from a branch manager of 14 years in the industry. House prices decline, because no one can get a loan for them, Debt to Income guidelines have also become more stringent, which means people can not buy as much of a home as they could have years back, not to mention the down payment requirements.
I digress, the point is, home prices fall, when the pool of qualified borrowers shrinks.
0 votes Thank Flag Link Sat Jun 18, 2011
Jan,
I won't pretend to know about your market. Some tools you can use to get very general information however I can help you with. Trulia has a stats & trends tab on the top of the page. You may find this helpful. Zillow.com will provide more accurate general information, but are just a starting place for specific values.
If you are hunting for the value of your own home, a local Agent can do some research for you and break it down to specific neighborhoods. I hope this helps.
0 votes Thank Flag Link Mon Jan 17, 2011
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