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	<title>Carmel &#124; Fishers Real Estate &#38; Community Updates &#187; Noblesville</title>
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	<description>Carmel &#124; Fishers Real Estate &#38; Community Updates</description>
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		<title>Four Bedroom Home in Noblesville</title>
		<link>http://blog.johnpacilio.com/hamilton-county-real-estate-trends/four-bedroom-home-in-noblesville/</link>
		<comments>http://blog.johnpacilio.com/hamilton-county-real-estate-trends/four-bedroom-home-in-noblesville/#comments</comments>
		<pubDate>Thu, 22 Jul 2010 17:32:25 +0000</pubDate>
		<dc:creator>pacilio</dc:creator>
				<category><![CDATA[Hamilton County Real Estate Trends]]></category>
		<category><![CDATA[Hamilton County Rental Homes]]></category>
		<category><![CDATA[Indianapolis Real Estate]]></category>
		<category><![CDATA[Noblesville]]></category>
		<category><![CDATA[Noblesville Indiana]]></category>
		<category><![CDATA[Noblesville Real Estate]]></category>

		<guid isPermaLink="false">http://pacilio.realty-buzz.com/?p=416</guid>
		<description><![CDATA[
WHAT’S IT WORTH?
Type: Traditional        
Age:   Built in 1994
Location:   Near Morse Reservoir
Neighborhood:   Carrigan Cove is a custom home community with mature trees. 
Square footage:  4086 including 1377 in the finished basement
Rooms:   This four-bedroom home has three-and-a-half baths, open kitchen and family room combination, formal living and dining rooms, finished basement and three-car garage. 
Strengths:  This is a custom home [...]]]></description>
			<content:encoded><![CDATA[<h3 class='post-summary'></h3>
<p>WHAT’S IT WORTH?</p>
<p><a href="http://blog.johnpacilio.com/files/2010/07/LR-Front-View.jpg"><img class="aligncenter size-medium wp-image-417" title="LR-Front View" src="http://blog.johnpacilio.com/files/2010/07/LR-Front-View-300x199.jpg" alt="" width="300" height="199" /></a>Type: Traditional        </p>
<p>Age:   Built in 1994</p>
<p>Location:   Near Morse Reservoir</p>
<p>Neighborhood:   Carrigan Cove is a custom home community with mature trees. </p>
<p>Square footage:  4086 including 1377 in the finished basement</p>
<p>Rooms:   This four-bedroom home has three-and-a-half baths, open kitchen and family room combination, formal living and dining rooms, finished basement and three-car garage. </p>
<p>Strengths:  This is a custom home for only $270,000.  It has a unique stucco exterior, large yard, and new carpet and paint. </p>
<p>Challenges:  According to the Metropolitan Indianapolis Board of Realtors, there is currently a 12 month inventory for homes in this price range in Noblesville. </p>
<p>WHAT’S IT WORTH?    $270,000</p>
]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Noblesville Home for Sale- What&#8217;s It Worth?</title>
		<link>http://blog.johnpacilio.com/hamilton-county-real-estate-trends/noblesville-home-for-sale-whats-it-worth/</link>
		<comments>http://blog.johnpacilio.com/hamilton-county-real-estate-trends/noblesville-home-for-sale-whats-it-worth/#comments</comments>
		<pubDate>Wed, 02 Dec 2009 19:03:26 +0000</pubDate>
		<dc:creator>pacilio</dc:creator>
				<category><![CDATA[Hamilton County Real Estate Trends]]></category>
		<category><![CDATA[Indianapolis Real Estate]]></category>
		<category><![CDATA[Noblesville]]></category>
		<category><![CDATA[Hamilton County Real Estate]]></category>
		<category><![CDATA[Noblesville Real Estate]]></category>

		<guid isPermaLink="false">http://pacilio.realty-buzz.com/?p=337</guid>
		<description><![CDATA[

Type:  Traditional        
 
Age:   Built in 2005
 
Location:   Near 191st and Allisonville
 
Neighborhood:   Highlands Prairie is a newer community that offers residents a community pool and playground.  
 
Square footage:  2724 
 
Rooms:   This three-bedroom home has three full baths, a main floor den that can be used as a fourth bedroom, Corian and granite countertops, new carpet, upstairs bonus [...]]]></description>
			<content:encoded><![CDATA[<h3 class='post-summary'></h3>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-size: small;"><span style="font-family: Times New Roman;"><img class="aligncenter size-medium wp-image-338" title="Front View" src="http://blog.johnpacilio.com/files/2009/12/highlands-prairie-pic-300x225.jpg" alt="Front View" width="300" height="225" /></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Type:<span style="mso-spacerun: yes;">  </span>Traditional<span style="mso-tab-count: 1;">        </span></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-family: Times New Roman; font-size: small;"> </span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Age:  <span style="mso-spacerun: yes;"> </span>Built in 2005</span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-family: Tahoma; font-size: 10pt;"> </span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-family: Times New Roman;"><span style="font-size: small;"><span style="color: black;">Location:  <span style="mso-spacerun: yes;"> </span>Near 191<sup>st</sup> and Allisonville</span><span style="font-family: Tahoma; font-size: 10pt;"></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: small;"><span style="font-family: Algerian; mso-bidi-font-family: Tahoma;"> </span><span style="font-family: Tahoma; font-size: 10pt;"></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Neighborhood: <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Highlands Prairie is a newer community that offers residents a community pool and playground.<span style="mso-spacerun: yes;">  </span></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-family: Times New Roman; font-size: small;"> </span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: small;"><span style="font-family: Times New Roman;"><span style="color: black;">Square footage: <span style="mso-spacerun: yes;"> </span>2724 </span><span style="font-family: Tahoma; font-size: 10pt;"></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: small;"><span style="font-family: Times New Roman;"> <span style="font-family: Tahoma; font-size: 10pt;"></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Rooms:<span style="mso-spacerun: yes;">  </span><span style="mso-spacerun: yes;"> </span>This three-bedroom home has three full baths, a main floor den that can be used as a fourth bedroom, Corian and granite countertops, new carpet, upstairs bonus room, and finished three-car garage.<span style="mso-spacerun: yes;">  </span></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-family: Tahoma; font-size: 10pt;"> </span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Strengths:<span style="mso-spacerun: yes;">  </span>This home is priced at $78 per square foot while the rest of the homes for sale in the neighborhood have an average price per square foot of $108 (based on information obtained from the Metropolitan Indianapolis Board of Realtors). <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-family: Tahoma; font-size: 10pt;"> </span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Challenges:  This home is a possible short sale which may cause a delay in closing.<span style="mso-spacerun: yes;">  </span>The home is being sold as-is.<span style="mso-spacerun: yes;">  </span></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-family: Times New Roman; font-size: small;"> </span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: black;"><span style="font-family: Times New Roman; font-size: small;">WHAT’S IT WORTH?    $213,000</span></span><span style="font-family: Tahoma; font-size: 10pt;"></span></p>
]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>International Real Estate in Carmel and Fishers</title>
		<link>http://blog.johnpacilio.com/carmel-real-estate/international-real-estate-in-carmel-and-fishers/</link>
		<comments>http://blog.johnpacilio.com/carmel-real-estate/international-real-estate-in-carmel-and-fishers/#comments</comments>
		<pubDate>Tue, 03 Nov 2009 20:20:31 +0000</pubDate>
		<dc:creator>pacilio</dc:creator>
				<category><![CDATA[Arts and Design District]]></category>
		<category><![CDATA[Carmel]]></category>
		<category><![CDATA[Carmel Real Estate]]></category>
		<category><![CDATA[Carmel and Fishers Rental Properties]]></category>
		<category><![CDATA[Fishers]]></category>
		<category><![CDATA[Hamilton County Real Estate Trends]]></category>
		<category><![CDATA[Indiana Investment Property]]></category>
		<category><![CDATA[Indiana Real Estate]]></category>
		<category><![CDATA[Indianapolis Real Estate]]></category>
		<category><![CDATA[Noblesville]]></category>
		<category><![CDATA[Carmel Indiana Real Estate]]></category>
		<category><![CDATA[fishers indiana real estate]]></category>

		<guid isPermaLink="false">http://pacilio.realty-buzz.com/?p=310</guid>
		<description><![CDATA[

There is now an opportunity to reach out to buyers anywhere in the world.  Our community borders have just opened.  Carmel and Fishers properties can be presented to qualified buyers through personal introduction in most places around the globe.  I utilize a new, structured real estate international marketing system linking the power and efficiency of [...]]]></description>
			<content:encoded><![CDATA[<h3 class='post-summary'></h3>
<p><span style="font-size: small; font-family: Times New Roman;"></p>
<p class="MsoNormal" style="margin: 0in -3.75pt 0pt 0in; tab-stops: 14.0in 1017.0pt;">There is now an opportunity to reach out to buyers anywhere in the world.<span style="mso-spacerun: yes;">  </span>Our community borders have just opened.<span style="mso-spacerun: yes;">  </span>Carmel and Fishers properties can be presented to qualified buyers through personal introduction in most places around the globe.<span style="mso-spacerun: yes;">  </span>I utilize a new, structured real estate international marketing system linking the power and efficiency of worldwide professional agents who specialize in their respective areas to promote a property from our area.</p>
<p class="MsoNormal" style="margin: 0in -3.75pt 0pt 0in; tab-stops: 14.0in 1017.0pt;"> </p>
<p class="MsoNormal" style="margin: 0in -3.75pt 0pt 0in; tab-stops: 14.0in 1017.0pt;">The core of the concept is that your local professional has a common goal and business agreement with like-minded, United States and International agents to sell a Carmel or Fishers property.<span style="mso-spacerun: yes;">  </span>This group of real estate agents is committed to introduce a Carmel property to their best clients.  There are more opportunities to sell a local property through a process that provides a personal introduction from a trusted advisor.<span style="mso-spacerun: yes;">  </span></p>
<p class="MsoNormal" style="margin: 0in -3.75pt 0pt 0in; tab-stops: 14.0in 1017.0pt;">We are able to package the city of Carmel along with the property showing our new cultural opportunities here such as the Performing Arts Center and Arts &amp; Design District to promote the city along with the property.<span style="mso-spacerun: yes;">  </span>There are not many places around that offer the quality of life at such a low price.<span style="mso-spacerun: yes;">  </span>We have an incredibly inexpensive cost of living and unbelievably low property values compared to many other states and countries.<span style="mso-spacerun: yes;">    </span></p>
<p class="MsoNormal" style="margin: 0in -3.75pt 0pt 0in; tab-stops: 14.0in 1017.0pt;"> </p>
<p class="MsoNormal" style="margin: 0in -3.75pt 0pt 0in; tab-stops: 14.0in 1017.0pt;">One recent investor client from the Far East described to me that land values in her country as ten times higher than ours.<span style="mso-spacerun: yes;">  </span>These, and many other investors are looking to purchase here for a great value.<span style="mso-spacerun: yes;">  </span>A powerful package of the city along with the impact of relatively low property cost through a quality personal invitation opens more buyers to sell a luxury home, residential investment, or commercial property.<span style="mso-spacerun: yes;">  </span>The process of linking outside buyers with local sellers generates increased activity in pockets where the market is soft.<span style="mso-spacerun: yes;">  </span>More buyers is exactly what the sellers tell us we need right now.<span style="mso-spacerun: yes;">  </span>This international system stimulates buyer activity and sales.</p>
<p><font face="Times New Roman" size="3"></p>
<p class="MsoNormal" style="margin: 0in 437.25pt 0pt 0in;"> </p>
<p></font></span></p>
<p class="MsoNormal" style="margin: 0in 437.25pt 0pt 0in;"> </p>
<p class="MsoNormal" style="margin: 0in 437.25pt 0pt 0in;"> </p>
]]></content:encoded>
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		</item>
		<item>
		<title>Great Value in Hamilton County!</title>
		<link>http://blog.johnpacilio.com/uncategorized/great-value-in-hamilton-county/</link>
		<comments>http://blog.johnpacilio.com/uncategorized/great-value-in-hamilton-county/#comments</comments>
		<pubDate>Fri, 24 Oct 2008 21:18:08 +0000</pubDate>
		<dc:creator>pacilio</dc:creator>
				<category><![CDATA[Hamilton County Real Estate Trends]]></category>
		<category><![CDATA[Noblesville]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Hamilton County]]></category>
		<category><![CDATA[Hamilton County Indiana Real Estate]]></category>

		<guid isPermaLink="false">http://pacilio.realty-buzz.com/?p=111</guid>
		<description><![CDATA[
Type:   Traditional
Age:   New Construction
Location:   161st Street and Carey Road
Neighborhood:   Oak Manor offers a community pool and clubhouse.
Square footage:  5065 including 1720 in the finished basement
 
Rooms:  This four bedroom home has a main floor office, upstairs bonus room, finished walk-out basement with a full bath and room for a home theater, master suite with sitting room, [...]]]></description>
			<content:encoded><![CDATA[<h3 class='post-summary'></h3>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: #000000;"><span style="font-size: small;"><span style="font-family: Times New Roman;"><a href="http://blog.johnpacilio.com/files/2008/10/wiw-102408.jpg"><img class="aligncenter size-medium wp-image-122" title="wiw-102408" src="http://blog.johnpacilio.com/files/2008/10/wiw-102408.jpg" alt="" width="300" height="225" /></a>Type:<span style="mso-spacerun: yes;">  </span><span style="mso-spacerun: yes;"> </span>Traditional</span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: #000000;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Age:  <span style="mso-spacerun: yes;"> </span>New Construction</span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: small;"><span style="font-family: Times New Roman;"><span style="color: #000000;">Location:  <span style="mso-spacerun: yes;"> </span>161<sup>st</sup> Street and Carey Road</span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: small;"><span style="font-family: Times New Roman;"><span style="color: #000000;">Neighborhood: <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Oak Manor offers a community pool and clubhouse.</span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: #000000;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Square footage: <span style="mso-spacerun: yes;"> </span>5065 including 1720 in the finished basement</span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; font-family: Tahoma;"> </span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: small;"><span style="font-family: Times New Roman;"><span style="color: #000000;">Rooms:<span style="mso-spacerun: yes;">  </span>This four bedroom home has a main floor office, upstairs bonus room, finished walk-out basement with a full bath and room for a home theater, master suite with sitting room, pond views, and a three-car side-load garage.</span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; font-family: Tahoma;"> </span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: #000000;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Strengths:<span style="mso-spacerun: yes;">  </span>This is a builder’s spec home that has never been lived in.<span style="mso-spacerun: yes;">  </span>It is an attractive value and could not be rebuilt for the same price.<span style="mso-spacerun: yes;">  </span>In my opinion, the property tax cap will help these suburban neighborhoods immensely and may improve the monthly payment by as much as $500.<span style="mso-spacerun: yes;">  </span></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="font-size: 10pt; font-family: Tahoma;"> </span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: #000000;"><span style="font-size: small;"><span style="font-family: Times New Roman;">Challenges:  There are vacant lots in the neighborhood so a potential buyer will have to deal with future construction traffic.<span style="mso-spacerun: yes;">  </span>The supply of area homes in this value range has forced builders to price homes aggressively.<span style="mso-spacerun: yes;">  </span>Home resellers need to keep close tabs on the builder market to price their home competitively.<span style="mso-spacerun: yes;">  </span></span></span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: #000000;"><span style="font-size: small; font-family: Times New Roman;"> </span></span></p>
<p class="ecmsonormal" style="margin: 0in 0in 0pt;"><span style="color: #000000;"><span style="font-size: small; font-family: Times New Roman;">WHAT’S IT WORTH?    $495,000</span></span></p>
]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Using Your Edge</title>
		<link>http://blog.johnpacilio.com/real-estate-trends/using-your-edge/</link>
		<comments>http://blog.johnpacilio.com/real-estate-trends/using-your-edge/#comments</comments>
		<pubDate>Fri, 19 Sep 2008 14:27:22 +0000</pubDate>
		<dc:creator>pacilio</dc:creator>
				<category><![CDATA[Carmel]]></category>
		<category><![CDATA[Fishers]]></category>
		<category><![CDATA[Noblesville]]></category>
		<category><![CDATA[Real Estate Trends]]></category>
		<category><![CDATA[Westfield Real Estate Trends]]></category>
		<category><![CDATA[Carmel and Fishers Indiana Real Estate]]></category>
		<category><![CDATA[Hamilton County]]></category>
		<category><![CDATA[Hamilton County Indiana Real Estate]]></category>

		<guid isPermaLink="false">http://pacilio.realty-buzz.com/?p=53</guid>
		<description><![CDATA[
The difference between success and failure in sports may be a fraction of a second.  The difference in business success and failure doesn’t seem to be as close at first glance, but it is.  Making it, and not making it, can be due to the smallest of margins.  The slightest edge can propel you from [...]]]></description>
			<content:encoded><![CDATA[<h3 class='post-summary'></h3>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small"><span style="font-family: Times New Roman">The difference between success and failure in sports may be a fraction of a second.<span>  </span>The difference in business success and failure doesn’t seem to be as close at first glance, but it is.<span>  </span>Making it, and not making it, can be due to the smallest of margins.<span>  </span>The slightest edge can propel you from the back of the pack to the front.<span>  </span>The edge is having written goals.<span>  </span>It is easy to go into the office or the shop and put out fires.<span>  </span>To keep busy doing aimless activities that seem important at the time.<span>  </span>I heard recently from Brian Buffini, professional business coach, ”Many of us aim for nothing and hit it with amazing accuracy!”<span>  </span>Where is your focus without a target?<span>  </span>We rely on the gut feeling to direct our lives.<span>  </span>Wouldn’t you prefer to have the control of making decisions based upon what you really want instead of a knee-jerk reaction when the pressure is on? <span> </span>Write on your calendar a block of time that is dedicated to breaking down what you want, why you want it, and what steps you will do to get there.<span>  </span></span></span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">Business is only one of five interlinked categories that you should evaluate to make your life more effective and fulfilling.<span>  </span>Reflect on your Spiritual Goals, Family Goals, Business Goals, Financial Goals, and Personal Goals.</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">Spiritual Goals— I wouldn’t leave this blank unless you feel that you may be the first human to live forever.</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">Family Goals—Visualize the big picture and then weekly activities and block time for them.</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">Business Goals- These should be specific and measurable.<span>  </span>For example, my real estate business is largely by referral and my goal is to receive 200 referrals for home sellers and buyers this year.<span>  </span>I am committed to these referred clients and ensure that they are the highest priority, treated like royalty, and the person who referred them is acknowledged as the key to my business success. </span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">Financial goals—In addition to revenue from business, consider other sources of investment income, reflect on what motivates you, and take action to get the funds.</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">Personal goals—Think about what makes you happy.<span>  </span>Do you want to get fit?<span>  </span>Get more educated about a subject?<span>  </span>Have more time off?<span>  </span>Feel the desire to help others in need?<span>  </span>Start with the end in mind and work backward to establish daily tasks.</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">When written goals in these five areas of your life are your priorities, you can’t help but be more effective and fulfilled.<span>  </span>It is time for you to use “The Edge”.</span></p>
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		<title>Home Prices to Level off by Next Summer</title>
		<link>http://blog.johnpacilio.com/westfield-real-estate-trends/home-prices-to-level-off-by-next-summer/</link>
		<comments>http://blog.johnpacilio.com/westfield-real-estate-trends/home-prices-to-level-off-by-next-summer/#comments</comments>
		<pubDate>Fri, 12 Sep 2008 20:53:47 +0000</pubDate>
		<dc:creator>pacilio</dc:creator>
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A handful of economists and analysts predict that home prices will level off by next summer.
By Les Christie, CNNMoney.com staff writer
September 11, 2008: 3:53 PM EDT
NEW YORK (CNNMoney.com) &#8212; Alan Greenspan famously declared the worst was over back in November of 2006. And the National Association of Realtors&#8217; erstwhile chief economist David Lereah called the [...]]]></description>
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<h2 class="storysubhead"><span style="font-size: x-small">A handful of economists and analysts predict that home prices will level off by next summer.</span></h2>
<div class="storybyline">By Les Christie, CNNMoney.com staff writer</div>
<div class="storytimestamp">September 11, 2008: 3:53 PM EDT</div>
<p class="storytimestamp" align="left">NEW YORK (CNNMoney.com) &#8212; Alan Greenspan famously declared the worst was over back in November of 2006. And the National Association of Realtors&#8217; erstwhile chief economist David Lereah called the bottom a few times, starting in May 2006.</p>
<p class="storytimestamp" align="left">Plenty of other economists and real estate analysts have attempted to do the same &#8211; and of course they&#8217;ve all been wrong.</p>
<p class="storytimestamp" align="left">But a consensus seemed to emerge among experts at a housing forum held by Standard &amp; Poor&#8217;s and the Chicago Mercantile Exchange on Wednesday in New York. Readers will be forgiven for taking this pronouncement<strong> </strong>with a large grain of salt.</p>
<p class="storytimestamp" align="left">Several panelists, including Economy.com&#8217;s chief economist Mark Zandi, Goldman Sachs (<a href="http://money.cnn.com/quote/quote.html?symb=GS&amp;source=story_quote_link">GS</a>, <a href="http://money.cnn.com/magazines/fortune/fortune500/2008/snapshots/10777.html?source=story_f500_link">Fortune 500</a>) economist Charlie Himmelberg, S&amp;P managing director David Blitzer and S&amp;P senior economist Beth Ann Bovino all agreed that <a href="http://money.cnn.com/2008/08/26/real_estate/Case_Shiller_home_price_report/index.htm?postversion=2008082611">home prices</a> would stabilize sometime during the summer of 2009.</p>
<p class="storytimestamp" align="left">&#8220;The bottom of the housing market is coming into view,&#8221; said Zandi, whose recent book &#8220;Financial Shock,&#8221; examines how the subprime mortgage crisis occurred. &#8220;House prices, based on the S&amp;P Case-Shiller index, are down 20% peak-to-trough and I expect them to fall another 5% to 10%.&#8221;</p>
<p class="storytimestamp" align="left">&#8220;The key is housing affordability,&#8221; Zandi said. &#8220;The [price] decline is beginning to restore affordability, which is now near its long-term average. In some places, Boston, Chicago, Denver, Orange County, affordability has been restored and those markets have stabilized.&#8221;</p>
<div class="inStoryHeading">More declines ahead</div>
<p class="storytimestamp" align="left">One piece of good news noted was home sales volume. The <a href="http://money.cnn.com/2008/09/09/real_estate/July_pending_home_sales/index.htm?postversion=2008090912">number of homes sold each month</a> has already leveled off nationally, staying within a narrow range nearly every month this year at an annualized rate of about 5.5 million units a year.</p>
<p class="storytimestamp" align="left">Bovino said her forecast for home price decline is slightly more bearish than Zandi&#8217;s, mostly based on S&amp;P&#8217;s belief that the country is now in a recession. With the economy struggling, job losses rising and a tough lending environment, she expects prices to fall another 10%.</p>
<p class="storytimestamp" align="left">&#8220;We think there will be an overshoot [with prices going beyond their logical bottom],&#8221; she said, in part because so many buyers are afraid to get into the market. &#8220;Nobody wants to catch a falling knife,&#8221; she said.</p>
<p class="storytimestamp" align="left">And after prices do bottom out, Himmelberg expects them to remain fairly flat for a year or so.<strong> </strong></p>
<p class="storytimestamp" align="left">Everyone on the panel agreed that the <a href="http://money.cnn.com/2008/09/08/news/economy/fannie_freddie_housing/index.htm?postversion=2008090816">government takeover</a> of Fannie Mae (<a href="http://money.cnn.com/quote/quote.html?symb=FNM&amp;source=story_quote_link">FNM</a>, <a href="http://money.cnn.com/magazines/fortune/fortune500/2008/snapshots/2434.html?source=story_f500_link">Fortune 500</a>) and Freddie Mac (<a href="http://money.cnn.com/quote/quote.html?symb=FRE&amp;source=story_quote_link">FRE</a>, <a href="http://money.cnn.com/magazines/fortune/fortune500/2008/snapshots/3018.html?source=story_f500_link">Fortune 500</a>) should help the housing market.</p>
<p class="storytimestamp" align="left">&#8220;We expect Fannie and Freddie to be more aggressive [in buying loans] over the next few months,&#8221; said Zandi. &#8220;We are at a low point in credit availability right now.&#8221;</p>
<p class="storytimestamp" align="left">The panelists were careful to couch their optimism with caveats. Zandi, for example, points out that there is a lot of uncertainty about the fate of Fannie and Freddie, <a href="http://money.cnn.com/2008/09/07/news/economy/velshi_comments/index.htm?postversion=2008090720">in the wake of their government takeover</a>.</p>
<p class="storytimestamp" align="left">There is some speculation that the companies will be downsized by a new administration after the presidential election in November.</p>
<p class="storytimestamp" align="left">&#8220;Neither candidate,&#8221; said S&amp;P managing director David Blitzer, &#8220;has decided what they want to say about that.&#8221;</p>
<p class="storytimestamp" align="left">Source: <a href="http://money.cnn.com/2008/09/11/real_estate/bottoms_coming_up/index.htm?postversion=2008091115">http://money.cnn.com/2008/09/11/real_estate/bottoms_coming_up/index.htm?postversion=2008091115</a></p>
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