Latest on housing prices

Due to foreclosure rates soaring, housing prices are dropping. Single family house prices is down two percent from last year. The biggest drop seems to be in places that had the highest speculative investment. Most declines seem to occur in areas which are suffering economic setback and job losses. Most of the places in Florida, Arizona and Nevada have shown drops. There have been drops in California and Cleveland. Condos are still showing resilience. Places where the real estate is booming is in the communities around San Jose as this extract from the real estate news from CNNmoney.com shows.

Many of the worst hit cities have also recently recorded high rates of foreclosure. In Detroit, where one of every 33 households is in some stage of default, prices declined 7.3 percent to $142,900. Riverside/San Bernardino, Calif. prices dropped 7.6 percent to $377,000. And Cleveland prices fell 4.2 percent to $132,700.Condo prices fell 17.3 percent in Cape Cora, Fla. to $224,900, the steepest decline in the nation. In Bismarck, they rose 22.3 percent to $133,300, for the highest gain. The highest priced metro area market is San Jose, Calif. where prices grew 9.4 percent over the past 12 months to $852,500. San Francisco trailed slightly, at $825,400( Extract from the real estate news from CNNmoney.com)

So San Jose seems to be a safe bet. If you are planning on investing in a property in San Jose you should contact a good real estate agent in San Jose. Realtor Dale Warfel has some great properties for sale in Willow Glen where you have some of the most charming neighborhoods and a small town feeling, particularly near Lincoln Avenue. Right now the hottest buy in Keller Realty is a beautiful four bedroom residence for sale in Willowglen of about 1508 square feet. Houses for sale in Almaden Valley feature more contemporary style homes in prestigious neighborhoods, along with top rated schools. Blossom Valley Real Estate offers homes at more affordable prices than Willow Glen or Almaden Valley. You also have some great properties for sale in Milpitas.