{"id":28,"date":"2006-06-14T17:50:00","date_gmt":"2006-06-14T21:50:00","guid":{"rendered":"http:\/\/www.realst8.crankpin.com\/?p=28"},"modified":"2006-07-19T13:33:58","modified_gmt":"2006-07-19T17:33:58","slug":"are-home-prices-falling-in-south-bend","status":"publish","type":"post","link":"https:\/\/www.realst8.com\/staging\/9756\/real-estate\/are-home-prices-falling-in-south-bend\/","title":{"rendered":"Are Home Prices Falling in South Bend?"},"content":{"rendered":"<p>South Bend real estate has been the unlikely subject of some recent media attention. The South Bend news agency <a href=\"http:\/\/www.wndu.com\/news\/052006\/news_49950.php\">WNDU<\/a> quoted USA Today&#8217;s statement that, &#8220;[South Bend] saw a drop in the average home price during the first quarter.&#8221; The article goes on to explain that the median price of a home is now $82,000 &#8211; a drop of more than 10% from one year ago and that this is the second greatest decline in the nation. <a href=\"http:\/\/money.cnn.com\/2006\/05\/15\/real_estate\/NAR_firstQ2005_home_prices\/\">CNN<\/a><a href=\"http:\/\/money.cnn.com\/2006\/05\/15\/real_estate\/NAR_firstQ2005_home_prices\/\">&#8216;s<\/a> article on the cooling real estate market notes &#8220;South Bend, Indiana also experienced a double-digit decline, falling 10.2 percent [from a year earlier].&#8221;<\/p>\n<p>What these stories neglect to mention is that the statistics they reference have been skewed by the enormous number of foreclosures in the area. A quick check on-line reveals <a href=\"http:\/\/www.foreclosuredeals.com\/lview.php?city=South%20Bend&#038;county_name=St.%20Joseph&#038;state_sg=IN&#038;propType=1\">456 properties in foreclosure<\/a> on June 14th. Real estate prices in this area generally appreciate 3 &#8211; 5% per year and continue to do so. Prices are not falling, but more low price properties are being sold and this has influenced the median home value figures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Bend real estate has been the unlikely subject of some recent media attention. The South Bend news agency WNDU quoted USA Today&#8217;s statement that, &#8220;[South Bend] saw a drop in the average home price during the first quarter.&#8221; The article goes on to explain that the median price of a home is now $82,000 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[7,2,13],"tags":[],"class_list":["post-28","post","type-post","status-publish","format-standard","hentry","category-market-conditions","category-real-estate","category-south-bend"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/28","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/comments?post=28"}],"version-history":[{"count":0,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/posts\/28\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/media?parent=28"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/categories?post=28"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realst8.com\/staging\/9756\/wp-json\/wp\/v2\/tags?post=28"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}