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? 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
Good News for the Real Estate Market in 2011?
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