Oakley Short Sales: Why Is Everyone So Negative About The Housing Market?

Oakley CA - The tax credit expired and everyone turned negative on the housing marketing.

One so called expert said we could see headlines about the real estate market crashing again. Another said that the housing market is going to continue it's decline for another years or two.

He referenced an article that showed that mortgage applications dropped by 9.5 percent the first week after the tax credit expired.

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I don't want to apply for the job of "Amateur Economist." Here are a few examples I found of actual economists getting their predictions wrong.

1. An economist published a book in 1987 that predicted a depression in the 1990s. That proved just a little inaccurate, no?

2. Supposedly in 1996, Alan Greenspan, stated he thought there was too much irrational exuberance in the US stock market. The stock market continued to climb for another 4 years.

However, Greenspan was bullish on the last economic expansion that went best. How wrong was he on the last housing / economic bust?

Who really knows what is going to happen in the housing market. I do know that despite all the crazy predictions, the housing market will eventually recover. It might take another 1-3 years to flush out all the foreclosures and "shadow inventory."

But, after that happens the housing market will stabilize and start a slow appreciation. It might take 8-12 years for prices to return to the previous high. Maybe even longer. But, they will turn around eventually.

What does that mean to the person in an upside down house? They have a great opportunity to short sale their home and buy at the bottom.

They can erase 8-12 years of negative equity and start building equity when they qualify to buy another home 3 years after their short sale. If you are upside down by 20% or more, a short sale makes great financial sense.

What do you think? E-mail me back if you are bearish or bullish on housing. Just put "Bull" or "Bear" in the subject line of your e-mail. I'll release the results of this informal poll tomorrow.

Thinking about a loan modification?Our Oakley loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet.  Send me an e-mail at ams1rebroker@aol.com to request a Free Copy.

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Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at ams1rebroker@aol.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 877-843-8300 Ext. 1

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