Predictions for 2008 What's yours!

By
Real Estate Agent with Netpro Realty 01360322
I think for the industry, 2008 will be a continuation of the consolidation already in place.  prices will not firm up much, and Bank owned inventory will remain at high levels, and increase in areas where REO inventory is low.  The learning curve for banks is over, and hopefully their efficiency will continue to improve.  I do not see  a whole lot of traditionally listed homes moving except by sellers who are willing to compete with banks.  Interest rates will continue to fall, giving an excellent opportunity to those who missed the boat in the last run.  New superstars will emerge, and some dinosaurs of the past will be unwilling to catch up to the technology boom that is dominating lead generation of today.  Your comments?

Comments (3)

Bernie Germani
New Key Lending - San Pedro, CA

2008 will see great deals for housing and real estate. Rising incomes and lower home prices will make real estate more affordable, as some of the excesses are washed out. Now more than ever, make sure you stay in touch with your client database and referral partners to educate them on what's happening, and how the present market creates opportunities for them.

This year will be full of changes and volatility...but remember that whoever says it can't be done, is generally interrupted by someone doing it. It can be done. Don't let anyone stop you from making this a great year.

Jan 24, 2008 08:51 PM
Frank Schulte-Ladbeck
Frank Schulte-Ladbeck Professional Real Estate Inspections - Houston, TX
Along the lines of all real estate is local campaign from NAR, I think some areas of the country will be held out as succes stories. I think some investors who are rushing into the market are going to be pleasantly shocked that they might have to actually work to make their investments profitable (no easy money here). Finally, those of us who play into the doom and gloom are bound to fail, while others who find ways to connect with the consumer (which will be increasingly through the web) will succeed.
Jan 24, 2008 09:04 PM
Lance Winslow
The Car Wash Guy - Malibu, CA

Nate,

Regarding your predictions, those all make sense to me. I see a few more rate cuts over the year, and much of the inventory being sold this year and next, prices still have some more fall and then climbing back up, not like a rocket ship, but back up never the less. I also see increased on-going education and regulations on the industry, even though much of what happened was hardly its fault. Lance

Jan 28, 2008 07:20 PM