Bloomberg Business set out to figure out what home prices would look like in 2012. They joined forces with Fiserv to weigh historical data against current trends and get a bead on which way the markets might jump at one-year increments. They then combined the data and were able to get a pretty good idea of what home prices would be in three years’ time. Here is a look at what your home will be worth in 2012, broken down by metro area.

 

California

Los Angeles-Long Beach-Glendale

2012: $253,328

Down from 2008 pricing of $350,000

 

Texas

Houston-Sugar Land-Baytown

2012: $160,471

Down from 2008 pricing of $160,000

 

New York

White Plains-New York-Wayne

2012: $343,937

Down from 2008 pricing of $440,000

 

Florida

Tampa-St. Petersburg-Clearwater

2012: $119,348

Down from 2008 pricing of $166,000

 

Pennsylvania

Philadelphia

2012: $171,347

Down from 2008 pricing of $195,000

 

Georgia

Atlanta-Sandy Springs-Marietta

2012: $182,199

Up from 2008 pricing of $182,000

 

Illinois

Chicago-Naperville-Joliet

2012: $248,136

Up from 2008 pricing of $247,000

 

North Carolina

Charlotte-Gastonia-Concord

2012: $191,788

Up from 2008 pricing of $185,000

Michigan

Warren-Troy-Farmington Hills

2012: $157,469

Up from 2008 pricing of $149,000

 

Ohio

Cleveland-Elyria-Mentor

2012: $139,573

Up from 2008 pricing at $129,000

 

Everyone has an opinion, and this is the time of year when we get to hear those opinions more often. As experts try and predict what will happen in 2012 to the housing market, they also try and look back at the past year and analyze how it turned out. Here are some quotes we are hearing right now.

TIMOTHY WARREN JR.

CEO, market tracker the Warren Group

“My general impression is that we’re sort of bumping along the bottom right now. … I think 2012 will have (appreciably) more home sales than 2011 — and that’ll be the first time that’s happened since 2004. … We won’t have an eight-year downturn — just a seven-year one.”

President, Mass. Association of Realtors; broker, Keller Williams Realty

“I think we’ll see very small (gains) in housing during 2012 if interest rates stay low, consumer confidence stays good and nothing happens (in Washington) to the mortgage-interest deduction. … As long as nothing changes (in housing laws) with the administration and Congress, then I feel we’re going to see inch-by-inch improvements.”

ALAN CLAYTON-MATTHEWS

Economist, Northeastern University

“Given the state of the economy, I expect there will be very little change in prices, (or) even slight declines. The volume of sales may be on a slow upward trend, but I don’t expect a (major) rebound — certainly not to the levels we saw (before) the downturn began.”

Patrick Newport

Analyst with IHS Global Insight

“Our forecast is they [home prices] will hit bottom in the second half of 2012,” said Mr. Newport. “We still will have a lot of foreclosures. That is still going to stay high for another several years.”

Richard Henry Suttmeier

Contributor, Forbes Magazine

“Today there are some tentative positive signs in the housing market, which I view as stability in a market that remains depressed according to the Federal Reserve. New home sales rose for the third consecutive month in November to an annual rate of 315,000. The inventory of new homes reached a record low of 158,000 units, so there should be good demand given an easing of credit standards, or appropriate home buyer initiative programs.”

David M. Blitzer

Chairman of the index committee at S.& P.

“The National Association of Realtors said last week that sales of single-family houses, town houses, condos and co-ops in November rose to 4.42 million, their highest level in 10 months, according to its latest revised data. But there were also signs that buyers were still nervous and lenders were being cautious about approving loans — the association said that a third of all contracts signed in November did not lead to closed sales.”

It’s that time of year where we look back at the past and hypothesize about the future.

Here are some predictions that were made for 2011

1. Prices and mortgage rates will stay low in most areas, but will rise in affluent areas and markets experiencing job/population growth.

2. Loan guidelines will tighten up, and down payments and loan costs may rise.

3. Condos will become even more difficult to buy.

4. Mortgage rates are going to remain low. However, it’s tough to tell when they’ll start to climb and how quickly they may climb. For that reason, it may be smart to try to secure a mortgage near the beginning of 2011 rather than waiting until the end of the year.

5. Home prices are going to decline in 2011. This seems fairly clear. However, it is much less clear how much they will decline or when they will stop declining and bottom out. Although some sources predict drops as high as 20%, it is much more likely that the drop will be small. Housing bottoms may even have been reached in some urban areas.

6. Because mortgage rates will remain low and home prices are at or near their bottom, 2011 is a good time to invest in real estate if you have the means to do so.

 

Here are some predictions that are being made for 2012

1. 2011 saw record low interest rates and high affordability, but sales will likely remain weak2.

2. Price drops seen through 2011 will continue3.

3. Rentals rebounded in 2011 and will drive development in 20124.

4. Market disparity between, and within, regions will continue5.

5. Foreclosure rates rising again, expected to jump in 2012

6. Signs of life seen in housing construction but no true recovery yet

With Christmas getting closer, many people take off to visit family or even head south for the winter. But leaving your home unattended for long periods of time over the holidays can make you a target for crime. Holiday absences and the presence of an abnormal number of valuables and gifts make homes more attractive to thieves during the holidays,

Making a home look occupied is the best way to prevent a break-in. This means keeping the sidewalks and driveways shoveled and plowed, and having mail and newspapers pickup up by neighbors.

Here are some other tips for keeping your home safe during the holiday season.

  • Get a timer for indoor and outdoor lights and your television
  • Turn a radio on when away from home.
  • Don’t store gifts in garage or in other exterior structures on property.
  • Have someone walk around your home and leave tracks in the snow.
  • Break down boxes from holiday gifts and put in trash receptacle or recycle bin rather than setting them out by the road.
  • Make sure all shrubbery near doors and windows are maintained and cut to prevent someone from hiding and add motion activated exterior lights.
  • Avoid displaying gifts where they can be seen from a window or doorway.
  • Arrange to have packages delivered to a neighbor if you’re not home to receive them.
  • Be sure not to obscure the view from your windows. You need a clear view of your property.
  •  Never cancel general deliveries such as mail, newspapers, and other services when leaving town or going on vacation.
  • Notify your local police precinct when you’re planning an extended absence. They can issue a vacation watch or directed patrol for your home.