February 19, 2006
Fiserv Says San Francisco Home Prices To Drop 1.9%
Fiserv Lending Solutions (a provider of mortgage and consumer lending services) is forecasting a 1.9% drop in home prices for the San Francisco MSA in 2006.
Unfortunately we’ve never heard of Fiserv Lending Solutions, have no insight into their methodology, and have no idea how accurate any of their forecasts have been in the past (or if they even have a “past”). It’s just another data point (but from within the industry).
∙ Price forecasts for 379 metro areas for 2006 [CNN/Money]
First Published: February 19, 2006 7:29 PM
Comments from "Plugged In" Readers
why do you favor posting negative articles rather than positive posts? i used to really enjoy this blog and as of late, i feel as though it's become a source for doomsday real estate. this particular article is a great example--nobody knows of this company, they are the only folks predicting such a downfall, yet you post it on the blog--no need for that. how about posting an article that explains that mortgages are still historically low or that although it's not a buyers market, they have more power at the negotiation table?
Posted by: g at February 20, 2006 1:19 PM
g – believe me, we have no intention, or desire, to evolve into a ‘bubble’ blog. And I truly believe that we offer our readers a lot more than just doomsday content (including design & architecture and neighborhood specific articles). But you’re right, nobody knows of this company. And that’s why we were the first to point it out: “Unfortunately we’ve never heard of Fiserv Lending Solutions, have no insight into their methodology, and have no idea how accurate any of their forecasts have been in the past (or if they even have a “past”). It’s just another data point (but from within the industry).”
Fiserv, however, is hardly alone in “predicting such a downfall”. And in fact, many would consider a 1.9% price drop to be relatively mild. Again, it’s just another data point.
Now as far as mortgages still being historically low, we couldn’t agree more (see: Rates Cheap. Houses Not Cheap.). And we’d love to focus more on interesting architecture, listings, trends, and new developments. So how about sending us some interesting tips to share?
Posted by: Adam at February 20, 2006 10:42 PM