You may not be looking for this answer, but I believe it will answer the question you asked: "What have Market values changed in the last 5 years"? In other words not what is the change in value that has occurred, but what has such change brought to the Market?
1. More properties available
2. Drastically reduced prices for B, C and D properties
3. Drastically reduced prices for all properties except perhaps Multifamily
4. Fewer agents in the Market
5. Fewer investors in the Market
6. Greater vacancies in most product lines
7. Most remaining agents earning less money in commissions
8. Less loan money available - Less leverage on purchases - More Cash required - Proof of Funds required
What has the change in the Market done positively?
1. More opportunity of choice for serious buyers
2. Purchases that buy more for the investor
3. Longer term gains for those who have wisdom and staying power
4. The ability to create some serious cash flow
5. Lots of room for the creative, knowledgeable and skilled agent
6. The ability to make tons of money, while others are complaining
7. Room to work - not so many doing things that require only a license and lots of luck in a booming economy
I hope this helps, since the true Market value for real estate at any given time, is always what one can make of it.
Onward and upward... Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: firstname.lastname@example.org
May 13, 2011