What To Expect In Real Estate For 2010

What To Expect In Real Estate For 2010

Author: Ivan Poral

New year for real estate business and of course new many predictions and theories are floating about the state of the real estate industry this year. It is not a good idea at all to base your financial decisions on any other predictions and theories that coming out. The wise move to do is to keep an eye on the trends so that you can be aware of the happenings in real estate, if you are planning to invest or sell your home this new year.

My own prediction of what to happen in Real Estate this year:

Foreclosure inventory will be a lot higher. I think this year foreclosure inventory will be a lot higher than some predict. Last year inventory only seen the homes that banks are holding on to and homes that are still on the foreclosure process. We can see the real foreclosure status if shadow inventory will be included those unheard homes in the bank, homes that the borrowers have stopped making payments on it.

Residential housing market will decline in the first half of the year. If these programs that the government implemented will end up. Programs like the "First time home buyer tax credit program" and "Federal´s Fannie Freddie mortgage purchase program" that currently supporting housing artificially will result in the slowdown the residential home demand. Rising of the foreclosure inventory in the market to be expected this year, will give additional downward pressure on the residential home prices.

Boost in mortgage qualification requirement to likely seen this year. Due to the arisen lending issues and the low standards qualification required by the FED (Federal Housing Administration). Some borrowers get mortgages due to that relaxed standards, to be included were those homeowners that awarded with home loans in spite of their in capability to pay.

Overall, buyers market will be at the same level at the first half of this year. At the start of the second half where real estate market will begin to stabilize and start to a more balanced point that will make the market more amicable for the home sellers. It seems that it takes time before we can see seller´s market again.

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