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It has definitely been a rollercoaster ride – one that seems to keep going up in some areas and down in others as we continue to rifle through the aftermath of the big mortgage meltdown of 2007. But as 2011 comes to an end and we have a new, refreshing start ahead of us – what can we expect to happen in our real estate market?
We examined some of the numbers of the past and projected some foreseen market performance in the future and here is what we have come up with:
Buyers Will See More Competition
Though the market will remain heavily leaning toward the buyer’s side, there will be far more competition on the table when it comes to deals they are trying to close. Homeowners will receive multiple offers, meaning that the edge buyers had recently will begin to soften. What this means is that buyers will have to be seriously ready to compete against other serious contenders for the property of choice – a situation that has not been as prevalent in 2011. Nonetheless, interest rates continue to be at all time industry lows and the low housing prices reflected in the most recent housing index report will provide buyers continued fantastic opportunities and renewed excitement to get in on the house of their dreams for the price of a lifetime!
Sellers Will Enjoy Stabilizing Prices
For the first time that we have seen in three or four years, sellers will finally enjoy prices that will be stabilizing again. After months and months of uncertainty, sellers will be able to sell more confidently – especially beneficial given the state of our economy as it remains today. In some pockets, we will see housing values increasing. Our prediction is that in 2012 housing values will come up as much as five to eight percent from their current levels in those areas. When you consider that in 2006 prices had dropped as much as 26%, the news of a projected incline in home values is fantastic news! The coming year will be the best time to sell for many sellers in a long time – and finally – we are going to see happy sellers at the table in addition to the myriad happy buyers out there.
What You Can Expect From Us in 2012
As we strive to continue to provide our esteemed and valued clients with useful and valuable information that can be implemented with our without our help, we promise to bring you more exciting topics, great ideas and insightful information that will help making homeownership or potential homeownership a wonderful endeavor for you and your family.
From our family to yours, we wish you a very Happy Holiday Season and a Happy New Year!
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