Found this nifty site where you can plug in your zip code and find out if your zip is in a declining market and also tells you average appreciation and depreciation rates for your zip per quarter. Interesting.
Zip code Lookup Declining market?

Bad News is... Seems like we all are...

Caution: that link crashed my Mac right back to the stone age.

I was surprised that I wasn't in a declining market...I thought just about everyone was but my market showed slight gains in 4th quarter of 2007.

Daisy -- the link works on my computer -- but then again I'm not on a mac -- maybe it's not mac friendly.

This message has been edited. Last edited by: cordovamom,

Here is Countrywides declining market list

If you are in a 4 or 5 market they have tighter lending guidelines.

Daisy, it's worse than that.....my spyware alarms went crazy and killed the link when I clicked it. I'd stay away from the site, but that's just me.

You know, I keep thinking to myself - are all these markets declining - I mean REALLY declining - or are they just selling for less that the stupid prices of a year or so ago.... I know this is not at all helpful for anyone that bought during the high period - but as far as a house being viable to buy - I still see many, many homes selling - and I think prices are leveling. In Northern Virginia, prices are less than 2 years ago - but they're still higher than they were 4 years ago - and there are TONS of people buying homes because the job market is wide open. All the homes I see for sale around me are selling - but they're not going for the crazy prices they should have never been going for to begin with (I'm tired - this does make sense to me)... To me, a declining market - a real one - is one where there are no jobs, people are leaving to get work elsewhere - and noone wants to move there. I think that some of the cities on the 4/5 list might be like that - but an awful lot of them are really still viable markets, just the prices are becoming more appropriate... I don't know - it's just interesting to watch... Now - I do already know, that when I do go to sell, Northern Virginia will jump to a 10, and I'll have to pay someone to take my house....

wow, what a relief, I'm in a stable/appreciating market. Hope it stays that way, as I just bought last summer.

katie

I clicked in. I was fine. Looks like it's an Excel spreadsheet, maybe a complicated one at that and maybe that's the prob.

I'm in an interesting market as my house is considered a "luxury home" and has not been affected. Otherwise, the average home 300K to 500K is on the decline.

Market I currently live in is not declining, market I'm moving to is being pummeled. Gosh, can't wait to buy a house and watch the value tank. I'm so excited (insert sarchasm).

My market is not declining either. That was a surprise since I thought all markets were declining especially in the higher priced areas of the country.

My Mac did not like the site either.

According to the Countrywide site, we're category 1. Which is consistent with what local sources say, however, they also say that doesn't apply to the townhouse market (which is what I'm trying to sell).

We bought one in the first development not knowing the builders (and more to follow) would build one development after another until they were so dime a dozen selling one is next to impossible.