1. Home Prices

14. Increasing Number of Sales The number of Sales in July increased by 16% (100 more SFR sales) over the same month last year.

15. What happened in the last declining home value market from 1990-1997 ? 1990 -2.4% 1991 -1.5% 1992 -4.3% 1993 -9.1% 1994 -9.9% 1995 -6.4% 1996 -3.9% 1997 +3.4%

16. A Possible Scenario For Home Prices……. So far in 2008 the median single family home in the San Fernando Valley has decreased by 25% if you average each of the months in 2008 If you compare July 2007 and July 2008 there is a decrease of 31%

17. The Actual SFV Single Family Residence Median Prices In July of 2007 the median price was $630,000 In July of 2008 the median price was $435,000

18. Why Is This Good News?? It appears the adjustments to the market are happening quickly. The faster we increase affordability, the faster we are in a Seller’s market.

19. Here Is a Scenario…….. It took 5 years last time for the market to decline 25% We just hit that number in 7 months!!

20. Here Is Another Scenario….. If home prices went down 32.3% In the 1990’s Home prices have so far gone down 25% this time Do we have 7.3% more to go, If history repeated itself?

21. Group Discussion Questions Do You Think Every Area In The San Fernando Valley Would Have 7.3% More To Decline? How Will Different Areas & Price Ranges Be Affected?