Predictions for 2009

By
Real Estate Sales Representative with Realty Executives Gulf Coast

Ten real estate predictions for 2009

NEW YORK - Dec. 18, 2008 - 2009 is likely to be a year of continuing adjustment to a changing real estate marketplace. Prepare yourself and your business with these predictions from HGTV's FrontDoor.com Web site.

· Sellers will continue to face falling home values in the new year because they'll be competing with banks and builders who are slashing prices to sell off the still-huge inventory of foreclosures and new homes.

 · The Obama administration will act on its plan to crack down on abusive lending practices.

 · Mortgage holders in danger of losing their homes will receive more assistance from a variety of programs since the Senate's Joint Economic Committee has predicted two million foreclosures in 2009.

 · Banks' restructuring should bring increasing calm, making loan modifications and short sales easier to obtain. Eventually this will lead to a decrease in the number of bank-owned properties on the market.

 · Mortgage applications will continue to receive a comprehensive review, requiring borrowers to provide extensive income and debt documentation. Those with the best credit will get the best rates.

 · The foreclosure crisis has created wiser consumers, with a deeper understanding of real estate, mortgages and credit, enabling better decision-making going forward.

 · Green is good with increasing numbers of buyers opting for smaller homes that are within walking distance of school and work.

 · Buyers and sellers will be more and more tech savvy, relying on tools like video, webcasts, and mobile search. Consumers and practitioners will benefit from being ahead of the curve.

 · Prices will be low as will interest rates, creating great buying opportunities, and likely, inspiring reluctant buyers to make their move.

 · The recession will end and buyers will regain confidence in the market.


Source: Frontdoor.com (12/03/2008)

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Rainmaker
292,354
Home Loan Search.Online
Home Loan Search Online - Newnan, GA

I completely agree. Thanks for the post and have a happy New Year!

Dec 31, 2008 01:18 AM #1
Rainer
120,529
Carol Swain
Keller Williams Real Estate - Langhorne, PA
Realtor, -www.swainsells.com- Bucks County, Pa

I would have to agree with all of it.  I really hope we start to see more lending going on.  Have a Happy New Year!

Dec 31, 2008 01:21 AM #2
Rainer
26,347
Eileen Taggart
ReMax Fine Properties - Flagstaff, AZ
Flagstaff Top Producer Who Answers Her Phone

Great! Can you also  make predictions about my love life?  LOL.  Thank you for the post and Happy New Year. 

Dec 31, 2008 01:46 AM #3
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Lacie

   We invite you back to ActiveRain.  Log in, leave some comments, write a blog post!

Nov 19, 2017 04:25 PM #4
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Lacie Maynard

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