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Moody.com 2010 Outlook

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Real Estate Agent with Brigitte Jones Properties 18947

I was reading Decembers issue of Fortune which had Moodys Economy report for housing in 2010. Moody's report says, "This year the housing market showed signs of life. But with foreclosures and unemployment climbing, prices have further to fall."

For the Portland OR metro area, which I service, the price decline for 2010 is projected at -9%. Of course real estate is neighborhood specific so some will continue to have steady demand over others. The major cities that have been hit the hardest the past 3 years will continue to see large declines in 2010, according to the report.

What this means for real estate professionals is that the distressed property market is still very important for business activity in 2010. Clients will need our professional counsel and guidance in navigating through the challenging market once again next year. As I mentioned in a previous posting, short sales are going to be high again and an area where clients really need our professionalism and assistance.

For buyers, buying smart is critical and requires the help of a professional agent. Now more than ever we as real estate consultants can help you achieve your dreams while providing you with the market information you need.

For sellers, 2010 is going to be another challenging year for home values. The homes that will sell are the ones that will be priced right and are in the best condition. Time is not your friend so pricing your home to sell sooner rather than later in the decline will most likely net you the most money possible.

For the full report, visit http://money.cnn.com/2009/12/08/real_estate/housing_outlook.fortune/index.htm

 

Posted by

Brigitte JonesĀ  360.909.0550

Comments(1)

Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

It is a mine field out there and we need to help our clients get thru it.

Dec 25, 2009 04:40 PM