Want the Bad News First? You Got it.

Housing markets ready for a FALL...

Fortune asked Mark Zandi, chief economist at Moody's Economy.com, and real estate valuation company Fiserv Lending Solutions to give their take on what lies ahead for housing in the country's 100 largest metropolitan areas. They predicted that 36 of the 100 biggest markets are expected to see price declines.

The area poised for the biggest fall in 2007 is Stockton (CA), where prices are expected to drop by 7.1 percent and another 5.3 percent in 2008. Next in line is Las Vegas, where the forecasters think prices will sink 6.6 percent in 2007 and another 8.1 percent in 2008.Rounding out the top ten markets expected to fall are Bakersfield, CA (-5.5% in 2007, -6.6% in 2008), Santa Ana/Anaheim, CA (-5.5% in 2007, -4.5% in 2008), Los Angeles/Long Beach, CA (-5.4% in 2007, -4.6% in 2008), Miami, FL (-4.9% in 2007, -7.5% in 2008), Sarasota/Bradenton, FL (-4.8% in 2007, -0.8% in 2008), Oakland, CA (-4.6% in 2007, -2.4% in 2008), Fresno, CA (-4.6% in 2007, -4.3% in 2008) and Fort Lauderdale, FL (-4.3% in 2007, -4.3% in 2008).



And Now for the GOOD NEWS!!



Housing markets predicted to RISE!


Fortune also asked Mark Zandi and Fiserv Lending Solutions to predict which markets would rise in 2007. McAllen, TX is predicted to rise 8.5 percent in 2007 and another 9.8 percent in 2008 and El Paso, TX is predicted to rise 7.1 percent in 2007 and 4.4 percent in 2008. In fact, four of the hottest U.S. home markets forecast for the next year are in Texas.

Rounding out the top ten markets expected to rise are Albuquerque, NM (5.9% in 2007, 0.6% in 2008), Salt Lake City, UT (5.4% in 2007, 1.9% in 2008), Syracuse, NY (4.8% in 2007, 3.6% in 2008), San Antonio, TX (4.8% in 2007, 3.5% in 2008), Rochester, NY (4.5% in 2007, 4.2% in 2008), Baton Rouge, LA (4.5% in 2007, 2.8% in 2008), Fort Worth/Arlington, TX (4.4% in 2007, 3.5% in 2008), and Birmingham, AL (4.4% in 2007, 3.5% in 2008).
requirements. (CNNMoney.com)

"Sexy! Fetching!! Fabulous!!!"
Washington Post (12/02/06) P. F1 ; Festa, Elizabeth


The housing slowdown poses a challenge for brokers who write property descriptions, with experts noting a change in the language used to attract prospective buyers. "It doesn't necessarily become more ornate," explains George Washington University anthropology professor Joel Kuipers. "It can become more direct and hard-hitting and move toward a harder sell." FranklyRealty.com founder Frank Borges LLosa says he scans advertisements for signs of motivated sellers who may be willing to accept lower offers. An analysis by Paul JJ Payack of San Diego-based Global Language Monitor finds that property descriptions increasingly are including the words "embassy-style," "turret," "flow," "livable," and "low maintenance;" while such words as "spacious," "dream," "granite," "architectural," and "sexy" have fallen out of favor this year. Meanwhile, research by University of Chicago economists Steven Levitt and Chad Syverson reveals that homes whose ads feature numerous exclamation points and the words "spacious," "charming," "fantastic," or "great neighborhood" tend to sell for less than the asking price. Regardless of the words used to describe a particular property, agents say buyers remain most influenced by location and price.