As you know, real estate is a local affair.
Just as a reference, one single family home community recently analyzed showed flat growth (less than 2%) with leading indicators of more rapid increase in value for 2nd quarter 2013...if we remain on the right side of the cliff 2013 could result in sufficient equity growth (5%) to allow some home owners to get an equity loan to replace their roof.
A second community,. where all the crucial elements were fully satisfied, has demonstrated increased values of nearly 100% in one year. This community is 'big water view' and demonstrated that the classic value retainer are still big value retainers. Bank owned sold at 30% above value and traditional sales 200+ percent above values. (7 sales in 6 months) WOW!!
If you review the 'Market In A Minute' reports on my blog you can see the trends regarding real estate in select communities in the Tampa Bay Area. My observation is this pattern is typical of all three hard hit states.
Real estate is a local affair. Values are more likely to increase than to decline.
Best of success to you,
Annette Lawrence, Remax Realtec Group
Palm Harbor, FL
PS: if you are a serious buyer in the Tampa Bay area I would be happy to share with you the analysis.