Pro Teck Valuation Services released the company’s October Home Value Forecast (HVF). “Two years ago much of the bad news was centered on California, a non-judicial state. Foreclosures were driving down prices and there were high REO discounts,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “But banks moved swiftly to cut losses, peak foreclosure activity came and went, and many markets are now on the rebound. In fact, eight of our top ten metros for this month are in California.” This month’s HVF update also includes a listing of the 10 best and 10 worst performing metros as ranked by its market condition ranking model. “Our top ten metro list in October is dominated by California, but all are showing impressive numbers. Each have less than four months of inventory and are averaging more than 20 percent year-over-year appreciation,” O’Grady said. [Read this article]
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