Good News For the Real Estate Market in 2011?

By
Real Estate Agent with Huntsville Houses For Sale (Level 10 Realty)

Good News for the Real Estate Market in 2011?


Let me begin my first blog post with a big “Thank you” to Level 10 Realty for this opportunity.  The way they do business, the culture of differentiation and the tech heavy focus make it clear that they will be a force to be reckoned with in the Real Estate market in the Tennessee Valley.  And I am proud to be on-board.

Enough of the sappy stuff, time to talk some business…

 The Mortgage Bankers Association released their forecast at the end of the year with some very interesting information. 

While many of us are waiting for that economic rebound that we have been expecting for some time, according to the MBA we will have to wait until 2012.  They actually expect an increase in unemployment in the first quarter of 2011.  The good news is, they predict a modest increase in existing home sales and a pretty large increase in new home sales after a massive drop in 2010.

The biggest surpriseto me was that despite the home-buyer tax credit program, that was extended on multiple occasions this year, home sales are likely to be 8% lower this year than last year.

The biggest take-away from the report is that interest rates are likely at the lowest that we will see them.  According to the MBA forecast, they will average 4.4% in the 4th quarter of 2010, move up to 5.1% by the end of 2011 and exceed 5.7% in 2012.

What this means is that the time to buy is NOW and if you need to sell, you will need a Real Estate firm that knows how to locate buyers.  We would love to help you if you are in need and we would love to talk to you if you would like to know more about your options.

Who doesn’t want to see this sign in their yard?

Huntsville Real Estate Experts

Thanks for reading my first post, and I hope you come back to read my next.  Leave me a ‘comment’ and let me know what you think.

Read the full report from the MBA here: http://bit.ly/drqRzm

Huntsville AL Real Estate

Huntsville Houses For Sale

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Comments (7)

Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

Congrats on your first post!  In my class today, they spoke of the flood of foreclosures on the rise due to ARMS resetting... this will be an interesting year!

Jan 25, 2011 05:06 PM
Rob Magnotta
Huntington Beach, Newport Beach, Seal Beach, Irvine REALTOR - Huntington Beach, CA
Huntington Beach & Newport Beach Coastal Specialist

Hi Nicole. Great post. Hard to say whether or not I agree, but the information was good.

Jan 25, 2011 05:08 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I really hope that someone is correct on the good news.  I think this market could go either way.

Jan 25, 2011 05:13 PM
Wendy Rich-Soto, Realtor/Broker Associate
Keller Williams Realty, South Bay - San Pedro, CA
Getting you to your next with a zero failure rate!

I would say that we have to keep our minds focused on what is positive and keep believing that we will see positive change and soon!

Jan 25, 2011 06:03 PM
Cameron Novak
The Homefinding Center - Corona, CA
Featured Corona Real Estate Agent Team

I think the biggest factor is the spectacular mortgage rates we have and the fact they won't be so low for long.

Jan 25, 2011 08:37 PM
John McCarthy
North Hampton, NH
Realtor - Seacoast NH

Nichole,

Never would suspect this was your first blog. Posted like an AR veteran! Take full advantage of AR University and have fun.

Jan 25, 2011 11:15 PM
Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Welcome to ActiveRain. This is a great community to network with others as well a great place to learn from other's experiences and knowledge. I've enjoyed it; I hope you enjoy it as well.

Jan 29, 2011 01:01 AM

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