Remember this is only a prediction and nothing more, maybe we will look back at this and say ..... boy
was that Benny Chavez guy off, or maybe boy was that Benny Chavez guy on the money! I will mention
that I have taken plenty of real facts into account when deciding what I would predict would happen so
here it goes:
- 2009 Will bring double the amount of forclosures than 2008
- The amount of forclosures will make some markets drop price by 10%
- Interest rates will remain within 5 and 6 % till 2010
- Many markets will have a stimulated local economy due to various real estate transactions
- Lenders will continue to use high standards to qualify
- The high end markets will be experiencing fewer sales, hows 10% off of 1,000,000?
- People will lose homes this year but a positve look will be that the large inventory of forclosures will cause for a price drop, allowing first time buyers who didn't qualify 6 months ago to now qualify
- Investors will be able to buy properties that will produce immediate cash flow
- Agents who are still in the business are more educated to this market, have more stats and tools to better service clients
GOOD LUCK IN 2009! MAY SELLERS SELL, BUYERS BUY, AND INVESTORS FLIP!