At Global Elite Realty we specialize in selling government owned properties. I have been watching the trends closely and I predict that 2010 will be a great year for three types of real estate agents. One, the agent that understand the process of a short sale. Two, the agent that sell HUD owned properties. Lastly, the REO listing agents for banks, Fannie Mae, and Freddie Mac.
Although, there are some predictions that FHA will change some of it's guidelines, I hardly expect it to be drastic in 2010. Even though, it may seem smart to make purchasing a home more strict to avoid foreclosures this will not help the foreclosure crisis. Let's face it, the banks have to move and sell these assets but making it difficult to purchase a home will not help. Therefore, one of the major thing the bank will have to do is start accepting more short sale offers and allow the prices to adjust. I cannot predict the future but I know that I am on the right track.
As a result, more real estate agents need to get their license out of the referral agencies, get trained and be ready for the new buyers. The new buyers are getting younger and they are more tech savvy.