Home values see biggest drop since 2008

Zillow has reported the biggest drop in home values since 2008.  This further supports my earlier prediction that values will not stabilize anytime soon. In fact values declined in every major market other than Honolulu, Hawaii, Fort Meyers, Florida and Champagne, Illinois. Zillow estimates that the market will not stabilize before 2012 and to this writer that is optimistic at best. Never has their been a greater opportunity to capitalize on the instability of the real estate markets.

Lenders have incredible inventories and this news can not make them bullish on taking more properties into their R.E.O. inventory.