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What Will 2010 Bring The Real Estate Market?

By Rosemarie Heindel

Real Estate Agent with Harry Norman Realtors 280064

December 20, 2009 11:41 PM

I confess, I am an avid reader. That may be a good passion of mine, however, at times it can be negative. Let me explain. Recently I was reading in the December 21, 2009 edition of Fortune magazine about housing price predictions for 2010 and which areas were expected to recover sooner.

There appears to be so many opinions on how fast the real estate market is going to recover. Broken down by states, the projected price decline and price increase is amazing. Some areas are looking at an additional 33% decline in home prices and some a 2.8%. Definitely the areas where jobs still exist represent the areas where home prices are remaining "stable" compared to hard hit areas where jobs have essentially disappeared.

I don't believe anyone knows for sure what 2010 will bring in the real estate market. What I do know and believe is, we can do our part as real estate agents to give our clients a realistic picture of what is happening in their area and help them to understand their options. There are always options. They may not be what they want to hear, but they deserve to hear the truth.

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Melissa Zavala

Broadpoint Properties - Escondido, CA

Broker, Escondido Real Estate, San Diego County

All of us have a fiduciary obligation to provide our clients with the truth--however tough that may be.

Dec 21, 2009 04:08 AM

Rene Fabre

ARFCO Media - Renton, WA

Practicing Philosophical Eclectic of the Arts

I don't think anyone knows... but I agree with several comments thus far. Depends on where the government puts our money. I think first time home buyers will be a large segment of the money. There's 2 more corrections coming, 1 residential, 1 commercial. I think it'll be bumpy, but the pendulum is going to slowly swing back. The best thing we can do, I think, is learn about the new new new economy as best we can, and work on our skills that will attract the buyers. Who will they be and how will they be looking for new homes and How best can we serve them...

Dec 21, 2009 04:10 AM

Scott Taylor

Realty Center - Orlando - Ocoee - Orlando, FL

REALTOR

What did it say about Central Florida? I'm in the Orlando area.

Dec 21, 2009 04:22 AM

Helen Oliveri

The Helen Oliveri Team - Hawthorn Woods, IL

"Your Best Move!"

I don't think we will see the same prices that real estate was a few years ago again for at least another few years.

Dec 21, 2009 05:21 AM

The Scott Loper Team Bux-Mont Premier Properties

Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Rosemarie,

Thanks for posting about this. I found the article online and it was a good read. I don't believe anyone can really predict what lies ahead, but it's good to see as many different insights/opinions as possible. It is interesting to note the Fortune came very close for their 2009 prediction; a 14.5% predicted decline in the national average sales price versus 13.2% actual so far.

-Scott

Dec 21, 2009 06:02 AM

Jerry Murphy, CRS, SRES

Long Realty West Valley - Anthem, AZ

Anthem, Phoenix, and Scottsdale AZ Real Estate

The real issue is whether clients believe us or not when we do tell them the truth. Unfortunately most people read these articles and only see or hear what they want to see or hear, and then try to apply that to unrelated area. As you said, some areas may suffer a further 33% price decline, our area has already suffered a decline of upwards of 50% or more, and yet we still have buyers thinking that our market will decline by another 33%. Anyway, thank you for the info and best of luck to you.

Dec 21, 2009 06:13 AM

Aaron Vaughn 830-358-0455

Conifer Builders LLC - Canyon Lake, TX

I don't care if the industry "recovers" or not, because I am confident in my ability to get enough business.

Dec 21, 2009 06:53 AM

Alexander Harb

Knights Investing - Mesquite, TX

Dallas, Texas Real Estate Investing

I do know in the Chicago area, spots are starting to increase in value...and that is a good thing.. it is still an incredibly deep buyers market....... there are LOTS of values to be had... the time for a sellers market will be when values approach what they were 4 to 5 years ago... that is going to take some time....

Dec 21, 2009 07:55 AM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

I do my top 10 real estate predictions every year. Just finished my 2010 predictions last week. I generally get 8 or 9 out of 10 every year. My secret is to look at the way things are moving and predict more of the same. LOL.

Dec 21, 2009 09:01 AM

Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

Rosemarie the presence or absence or growing loss of jobs in an area is a good correlation to home values I believe.

Dec 21, 2009 09:22 AM

Ted Tyndall

Davidson Realty Inc. - Saint Augustine, FL

I will help You find the Home YOU want to Buy

Rosemarie,

I agree with Gary. However, we have a physic Ruby in town and I think I'll just go to her and find out what is really going to happen next year.

Just joking.

Dec 21, 2009 09:52 AM

Megan Izdebska & Hanna Manoufar Chandler, Scottsdale Real Estate Agent

United Brokers Group - Chandler, AZ

Double Commitment. Double Results.

I wish we could predict the future. Till then we just keep marketing and working hard and I'm sure we will see the results.

Dec 21, 2009 12:11 PM

Lane Bailey

Century 21 Results Realty - Suwanee, GA

Realtor & Car Guy

There are so many variables right now... the biggest being the government actions over the next few months. If they can deadlock themselves, we might be able to recover...

Dec 21, 2009 12:35 PM

Emily Lowe

RE/MAX Homes and Estates, Lipman Group - Nashville, TN

Nashville TN Realtor

Well if we could just see the future, we would be able to advise so much better! I try to be ultra conservative while discussing options with my clients. I think the more precautions clients take right now, the better.

Dec 21, 2009 03:46 PM

Kirsten Lindquist

Pacific Union International - Sonoma, CA

Realtor - Sonoma Wine Country

Let's all focus on our micro-markets and captialize on the opportunities that exist in each one. Wishing everyone an early Happy New Year!

Dec 21, 2009 04:15 PM

Fernando Herboso - Associate Broker MD, & VA

Maxus Realty Group of Samson Properties - Clarksburg, MD

301-246-0001 Serving Maryland, DC and Northern VA

I believe 2010 will be the year of opportunity for all Realtors. . . just like 2009 was and 2011 will be

Dec 21, 2009 10:17 PM

Missy Caulk

Missy Caulk TEAM - Ann Arbor, MI

Savvy Realtor - Ann Arbor Real Estate

Real Estate is local. Local even down to areas in my county and subdivisions.

No way to national studies go that far deep.

Real Estate is tied to jobs...stable job markets bring stable real estate prices. Those parts of the country that had job growth had less of a depreciation.

Follow the jobs....

Dec 21, 2009 11:52 PM

Dan Haggerty

RE/MAX RESULTS - Orlando, FL

I don't really trust predictions, but I hope we see more business in 2010.

Dec 22, 2009 11:00 AM

Jean-Paul Peron

The Outer Banks Real Estate Copmpany - Corolla, NC

Carova Beach - Living & Working in 4-Wheel Drive

I believe that we make our destiny. even in these tough years there have been agents making Six Figures. No matter how the over all market turns out for 2010 we need to remember that people will still be selling and people will still be buying.

Dec 22, 2009 12:21 PM

Stephen Arnold

HomeSmart Elite Group - Scottsdale, AZ

CRS, GRI, SFR

Hi Rosemarie~ Each market is a little different...but there is always a market!! With those that adapt, change, work hard and stay positive...good things will happen! All the best in 2010!!

Dec 23, 2009 01:18 AM