Reports show that there was an overall decline of 4.7% in U.S. real estate markets in 2011, but state by state performance and conditions varied. When short sales and real estate owned (REO) transactions, are taken out of the picture, prices fell by 0.9% in 2011, giving an indication of the impact of distressed sales on home prices in the last 12 months. Here in Big Bear this has seemed to be the case as well.
The report shows that national home prices including distressed sales decreased 1.4% on a month on month basis, the fifth consecutive monthly decline, an article on Property Wire under the headline, “US property prices fell 4.7% nationwide in 2011, latest data shows,” reported. This is not good news for the Big Bear real estate market, that is for sure. According to the piece, posted today, February 3, 2012, US property prices fell 4.7% nationwide in 2011, latest data shows
The December drop in home prices follows a decline of 4.3% in November. Excluding distressed sales, year on year prices declined by 2% in November 2011 compared to November 2010.
Chief economist for CoreLogic , Mark Fleming, was quoted as saying, “While overall prices declined by almost 5% in 2011, non distressed prices showed only a small decrease. Until distressed sales in the market recede, we will see continued downward pressure on prices.”
Property Wire said the five states with the greatest fall in prices were Illinois, down 11.3%, Nevada down 10.6%, Georgia down 8.3%, Ohio down 7.7% and Minnesota down 7.5%.
When distressed sales are left out, the five top states were Montana, which increased 7.7%, South Dakota up 3.5%, Indiana up 3.3%, Alaska up 3.1% and Massachusetts up 2.9%.
The market has been a real fire sale for many investors. A For Sale sign can quickly turn into a For Rent sign in many neighborhoods where investors from inside and outside the country pick up bargains and wait for the market to recover. Well at least the big bear real estate market is good for buyers if not for sellers.

Most all of us have been touched by divorce, whether you live in Seattle, LA or wherever, and most of us have learned what a devastating and painful ordeal it can be. So a new study that says couples who live together are avoiding marriage due to the fear of divorce is not surprising.
In a post dated Dec 18, 2011, on the “Daily News and Analysis” website, by Anna Hazare, proclaims in its title, “Fear of divorce deters live-in couples from marriage.”
The social, legal, emotional and economic ramifications of divorce take such a toll that the fear of divorce deters live-in couples from marriage, according to a new US study cited by the post. The study was conducted by demographers Sharon Sassler, professor of policy analysis and management, and Dela Kusi-Appouh, doctoral student in development sociology, from Cornell University.
Apparently, about 67 percent of those surveyed by the study expressed reservations due to the specter of divorce. Middle-class subjects felt more positive and saw living together as a natural precursor to marriage, the post reports. This makes since since to me, I noticed in Seattle or Bellevue the family law plus Seattle divorce lawyer will often stay busier that the DUI or criminal defense lawyer in Bellevue or Seattle.
But lower-income women, disproportionately expressed misgivings about the “trap” of marriage, notes the posting, fearing that it could be difficult to split if things don’t go well, and it could mean more responsibilities than benefits for them.
It was also reported that working-class live-in couples were more likely to see marriage as a piece of paper. They also were twice as likely to be fearful that they might get stuck in marriage once they began to count on a partners’ income.
Part of the problem may be that it is actually too easy to get divorced nowadays. Many couples may be giving up too soon, and miss the feelings of commitment that come after many years of hanging in there, of toughing it out, which was once the expectation. It is easy to go get a divorce lawyer, whether you are in Seattle or wherever.