A mid-sized and affluent city in the San Diego metropolitan region, Coronado, California, lies five miles from downtown San Diego on a peninsula that is connected to the mainland by a 10-mile-long isthmus. For this reason, the city is often commonly also referred to as Coronado Island. The city’s residents are quite wealthy, and therefore Coronado real estate tends to contain some of the most expensive properties in the region. In 2009, the median price for single-family homes in Coronado was the second-highest of any city in the Central San Diego region, second only to La Jolla.

Last year, the market for Coronado homes for sale continued to show ongoing signs of struggle caused by the recession and the general downturn in the national and local economies. There were 105 single-family homes sold in 2009 in Coronado according to the San Diego Union Tribune’s annual zip code chart, and those homes sold at a median price of $1.25 million, a 14% decline in price year-over-year. The year saw 87 resell condos sold at a median price of $850,000, a decline of more than one-third annually. Additionally, there were two new homes sold, with a median price of $828,500, down 7% from 2008. Overall, all properties saw a median price of $1.09 million, a fall of 19%.

So far in 2010, the Coronado market has shown mixed signals for where it is headed in the new year. Condo prices are up, but home prices are still down from where they were one year earlier. According to the San Diego Union Tribune’s monthly zip code chart, in March there were 15 single-family resell homes sold in Coronado at a median price of $920,000, a 43% decline year-over-year and down from $1.2 million in December 2009. Condos, however, saw seven sales at a median price of $1.03 million, an 8 increase from March 2008’s prices. This was up substantially from December’s median condo price, which was $662,250. Additionally, there was one new home sold at a price of $1.07 million.

The overall political and economic situation facing Tennessee real estate and Chattanooga real estate in particular has sparked a number of actions from local politicians. This trend was noted in a March 16, 2010 article in the Commercial Appeal, which found that “A bill pending in the Tennessee legislature would make it easier for homeowners who are behind on payments to enter into negotiations with lenders to avoid foreclosure.” The piece, composed by Daniel Connolly, continued to state that “Lenders would have an incentive to participate because if they acted in good faith, they would be free of punishment for any violations of the Tennessee Home Loan Protection Act, a law passed in 2006 to combat predatory lending.”

A March 7, 2010 article in the Chattanooga Times Free Press described the various measures attempted to keep Chattanooga real estate for sale from becoming foreclosures. The article pays particular attention to Chattanooga Neighborhood Enterprise, saying that “At the urging of his niece, Mr. McConnell reached out to Chattanooga Neighborhood Enterprise, a government-backed housing agency that helped Mr. McConnell keep and fix up his house…Mr. McConnell is among more than 200 families CNE has worked with since launching its foreclosure prevention program last year. ‘Of the 219 families we saw in 2009, only seven have lost their homes, so we know we’re making a real difference in this community,’ CNE President David Johnson said.” The article, composed by Dave Flessner, continued to find that “CNE is among 48 local agencies in Tennessee and 101 in Georgia counseling financially troubled homeowners under a 2-year-old foreclosure prevention effort by the federal Neighborhood Works program.”

It seems that Chattanooga homes for sale may be recovering more quickly than the rest of the greater Tennessee real estate market, according to a March 18, 2010 article in the Chattanooga Times Free Press. The piece found that “Chattanooga shed about 10 percent fewer jobs that the U.S. economy as a whole during the Great Recession over the past two years. But the employment losses in metropolitan Chattanooga in the current economic downturn have lasted longer than previous recessions and continued into the fourth quarter of 2009 even as production rebounded late last year, according to a Brookings Institution study released Wednesday.”

The Colorado Springs real estate market, along with the rest of the state, continues to face the fallout from the subprime mortgage crisis. According to a March 17, 2010 article in the Denver Business Journal, “Both real estate foreclosure filings and sales in Colorado rose in February year over year, largely because a moratorium on foreclosures no longer is in place this year, according to a report Wednesday by the Colorado Division of Housing.” The piece continued to note that “Foreclosure filings increased 6.5 percent in February to 3,042 last month from 2,856 in February of last year. But they were down nearly 14 percent from 3,535 in February 2008. Foreclosure filings are the initial documents, filed with county public trustee’s offices, that are used to start the foreclosure process. That process ends with the sale of a property at auction, unless debt related to the property is repaid.”

One particular segment of Colorado Springs real estate for sale, commercial real estate, is in an especially tight spot, according to a March 13, 2010 article in the Colorado Springs Gazette. The piece found that “As dissimilar as they are, a small shopping center in unincorporated Falcon, an apartment complex on Colorado Springs’ southeast side and a mini-warehouse storage facility near Peterson Air Force Base have something in common: They all fell into foreclosure last year – signs of a distressed local commercial real estate market that experts fear will worsen in 2010.”

One bright spot for Colorado Springs homes for sale was noted by a March 1, 2010 article also in the Colorado Springs Gazette, which noted that “The pace of homebuilding jumped last month to its highest level in nearly two years, while foreclosure filings might be stabilizing, according to a pair of reports released Monday.” The piece, composed by Rich Laden, continued to say that “Single-family homebuilding permits totaled 166 in February in Colorado Springs and El Paso County, a more than threefold increase from 53 permits during the same month a year ago, a Pikes Peak Regional Building Department Report said.”

The Cupertino real estate market is closely linked to the rest of the Bay Area’s economic fortunes. According to a February 19, 2010 article in Business Week, “Home sales in the San Francisco Bay area dipped more than usual last month, and median prices are down from December, suggesting the market has lost some of the momentum it gained in the second half of 2009, according to a real estate tracking firm.” The piece, composed by Evelyn Nieves, continued to say that “San Diego-based MDA DataQuick reported Thursday that home sales dropped by 38 percent from December in the nine-county Bay Area. A decline in sales from December to January is normal for the season, but on average, sales have dropped 28 percent, the firm said.”

Cupertino homes for sale also faced a decline in sales volume, according to a February 19, 2010 article in the San Francisco Chronicle. The piece found that “The Bay Area housing market lost some of its 2009 momentum in January, according to an authoritative real estate report, but prognosticators do not necessarily see a shift toward slower sales in 2010.” The article, written by Robert Selna, continued to say that “Data analyzed by MDA DataQuick, a San Diego research firm, show that 4,853 new and resold houses and condominiums closed escrow in the nine-county Bay Area last month. That represented a decline of 38 percent from December and a 4 percent drop from January 2009.”

The Cupertino real estate market also faced a foreclosure problem in the early portion of 2010, according to a February 17, 2010 article in the Mercury News. The piece found that “After taking a break for the holidays, foreclosures spiked in Santa Clara and San Mateo counties in January. Despite efforts by the federal government and lenders to help people stay in their homes, foreclosures rose 37 percent in Santa Clara County last month from December, and 71 percent in San Mateo County, according to a report Tuesday from ForeclosureRadar.” The article, written by Sue McAllister and Pete Carey, continued to say that “In another sign that housing woes are far from over, more homes are lingering in the foreclosure process…”

An affluent, luxurious coastal community, La Costa is a neighborhood located within Carlsbad, California, in Northern San Diego County. As many cities in Southern California, the La Costa real estate market has been hit hard by the recession in the United States as the overall market has fallen, with home values plunging and foreclosures skyrocketing. Some say the market may have been overheated before, spurred on by speculation, which has contributed to its fall in prices. But lately the market shows slight signs for optimism.

Sales of La Costa homes for sale showed an increased activity last year (2009) versus 2008 as many players who were interested in owning La Costa homes but always felt themselves priced out of the market finally found themselves able to jump in and take advantage of the unusually low prices. Of course, much of the increased real estate sales activity in the country can also be attributed, at least in part, to the government’s program offering thousands of dollars in tax credits to those who buy a new home, which may have pushed many who were considering buying over the brink into closing.

In Carlsbad, of which La Costa is a part, sales showed a positively upward sloping trend all year, with the highest activity coming right at the year’s close in December, when 70 homes were sold. The area started 2009 with homes having a median price of more than $700,000, but this figure gradually fell to close the year out at around only $620,000. The median price hit bottom in October at around $600, and then saw increases in November and December.

Condos in the region followed a similar path. At the start of 2009, the median condo price was around $375,000, a figure that rose and fell throughout the year, and finished 2009 at around $330,000. The condo market saw its low point coming in the third quarter of 2009, and prices began to creep up in the fourth quarter. Condo sales in the La Costa area were healthy throughout the year, with around 25 or 30 per month.

New Haven real estate and properties in the rest of the Connecticut have suffered from frighteningly high foreclosure rates over the recent months.  Luckily, the trend seems to be ending soon.  According to Dan Levy’s Bloomberg article on November 12, 2009, “U.S. foreclosure filings surpassed 300,000 for an eighth straight month as unemployment made it tougher for homeowners to pay their bills.”  Additionally, “rising vacancy rates and the resulting loss of rental income will lead to the reduction of the market values of properties and increase foreclosure rates.”  However, foreclosure filings in Connecticut dropped over twenty-six percent to 2,306.  This positive change brings hope to several homeowners who have watched foreclosure rates increase in nearby New York and Massachusetts as of late.

New Haven homes for sale have maintained a relatively consistent price level despite other areas experiencing price cuts of up to forty-three percent, like in some Floridian neighborhoods. However, New Haven properties have not been immune.  In Daniel Taub’s Bloomberg news report on November 12, 2009, it appears as though more than thirty percent of homes in New Haven have experienced price reductions, although more recent numbers show that price reductions are beginning to taper off as the economy recovers and sellers begin to regain some pricing power.

A large part of real estate in New Haven is dedicated to Yale University’s faculty, staff, and students, and is largely seen as immune to most changes because of the properties’ operational necessity to the school.  Regardless, Yahoo! Real Estate reported 244 foreclosures in New Haven between October and November 2009, selling at a median price of only $139,000.  This price tag is a 0.7 percent drop from the previous month’s median.  The median price for other homes for sale didn’t change.

North Carolina real estate has seen an upswing in real estate activity thanks to the extension of first-time buyer tax credits by the U.S. federal government.  According to David Bracken’s November 6, 2009, article about credit and the housing market, “About 1.42 million U.S. taxpayers have qualified for the credit through August, including nearly 45,000 in North Carolina, according to the Internal Revenue Service.”  The income tax credit is valid for purchase agreements signed by April 30, and closings final by June 30 and can be applied to individuals with annual incomes up to $125,000 and joint filers with incomes up to $225,000 qualify for the full credit. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.

Another victory for real estate in North Carolina on October 26, 2009, when the RealEstateRama newspaper reported that “foreclosure prevention efforts that have helped more than 1,100 North Carolinians save their homes got a boost earlier this month when the North Carolina Housing Finance Agency was awarded an additional $895,350 of federal funds from the National Foreclosure Mitigation Counseling Program.”  The worthy program has ensured that hundreds of families are kept in their homes and given the resources to refinance their homes.  The news article claims that “funds from the earlier grants are expected to provide counseling for more than 14,000 homeowners by year’s end. Of those who have completed counseling, 1,158 are known to have avoided foreclosure and only 40 are known to have been foreclosed on. The third grant is expected to assist 2,800 homeowners by June 2010.”

North Carolina homes for sale dropped in median price in places like Raleigh and Cary but also rose in price and gained value in several places.  David Ranii of the News Observer reported on November 10, 2009, that “the average sale price of existing homes in Durham rose 3.6 percent in the third quarter compared to a year ago, defying the national trend of declining home prices, according to a survey released today by the National Association of Realtors.”

Bainbridge homes for sale have seen a slight rise in popularity as federal government tax credits help to spur demand and increase interest, especially for first-time home buyers.  According to Rachel Pritchett of the Kitsap Sun on November 5, 2009, “the 380 pending home sales in October in Kitsap County were a substantive 59 percent jump over October 2008.  Experts say renewed interest is from buyers rushing to make the Nov. 30 deadline of a tax-credit program where they can save $8,000.”  Interestingly, while many properties in Western and Central Washington saw declines in value of up to seventeen percent, the article claims that Kitsap County, and especially real estate in Bainbridge, have been able to keep steady pricing despite the tough economic environment.

Another positive sign for the Bainbridge area was that “there were 1,795 homes for sale in Bainbridge Island in October, 27 percent fewer than a year ago. Sellers have pointed to a shrinking inventory as another sign of a market that is stabilizing.”  In what could be one of the slowest turnarounds in real estate history, both buyers and sellers are beginning to realize that they can only demand so much and must let uncontrollable factors do the rest.  On November 11, 2009, Pritchett followed up with another article about how well Kitsap County was doing compared to the rest of Washington state and the rest of the nation.  In terms of hard statistics, “eleven percent of all homes sold in Kitsap in September sold at a loss; nationally, it was 27 percent.  About 29 percent of homes saw increasing value over the past 12 months; nationally, it was 22 percent.”  These numbers are actually quite unusual for such a remote place like Kitsap County and Bainbridge Island.

Bainbridge Island real estate is definitely showing great improvement as the economy begins to move again and the recession begins to dry out.  Yahoo! Real Estate showed a 6 percent increase in the median home price between October and November to almost $160,000 while foreclosed homes jumped even higher, 6.9 percent, to over $80,000.

When the economy is booming, people are generally happier with their work and overall purchasing power.  They go out to buy things, they dine out and they make big investments such as buying real estate properties.  Similarly, when the economy experiences setbacks like the recession we are experiencing today, people have a greater feeling of needing to save.  They feel that they have to tighten their belts and not spend as much.  As a result, the economy goes further down.  People are not as enthusiastic about buying houses or properties.  With regards to selling, individuals find that they have to sell their houses to pay for mortgage, because they are relocated due to employment changes or some find that they would be able to save more if they lived with relatives.

From this instance alone, one can see that although the number of buyers goes down, the number of sellers remain the same or even go up.  As such, prices begin to drop and depreciation of properties takes place.  People should take advantage of this slow period, however.  After such a time the economy would surely kick off again and start to improve.  For this reason, people are still encouraged to make real estate investments even at this condition of the economy.

The key to making a good deal is to make a great offer.  When you have chosen the house you want to purchase, you can now start negotiating with the seller by writing him or her your first offer.  Usually sellers make the price known to potential buyers.  Do not be afraid to offer something that is lower than this.  After all, the seller has already considered having offers that are lower but still reasonable.  According to real estate experts, determining the proper amount that one should offer is a three step process.

The first step is to consider similar properties in the market and how much they are selling.  This is called comparable sales.  In the location where the property you are eyeing is located, consider what the going rate for houses is.  At least have an idea of the price range.  Compare the prices of homes within the same size, number of bedrooms, bathrooms, floors, garage space and total area that you are planning to purchase.  You may also refer to actual documents and databases listing the prices of similar properties.  Three main sources can be accessed by a certified real estate agent.  However, the public is generally restricted to it.  Nevertheless, there are public records and multiply house listings that can easily be accessed by the public.  You can make use of this.

The next step is to look at the house itself.  Does it need repairs?  Are you going to have renovations made?  Also take into consideration the condition of the seller?  Is she or he in a hurry to sell the property?  Is it in a mortgage under a bank?  As a third and final step, adjust the price you have come up with and analyze if this is indeed ‘fair’ for the seller.

It is not very hard to strike a good deal.  Just remember to be fair with the seller as well.  Talk to him or her about your concerns and even your budget and you could actually get that property you want.