2011 saw it's share of ups and downs (up in transactions, down in prices and inventory) - will 2012 be more of the same? 

I believe we'll see our distressed shadow inventory still in some stage of foreclosure start to make it's way through the pipeline as Servicers and the state Attorneys General reach amicable terms for the "robo-signing" scandal we heard so much about this year.  If this happens, we may see the floodgates open and become saturated with a sizable inventory of foreclosures in 2012. 

Another concern is the recent talk of creating a lenient modification program for homeowners behind on payments or under water in their mortgage.  Such a government-imposed program could delay the foreclosure process by up to 280 days (as I've read), which would only prolong the current market environment even further.  Rest assured that if a program is created there will be several homeowners that will simply stop making payments on their homes in an effort to have their principal balances reduced.

Short Sales will continue to be a large factor in our market as well as nationally as there are 6.5 million homeowners in some stage of default. 

It's been a challenging couple of years from the point of a Real Estate Agent that constantly councils Clients on where the market is headed.  The best we can do is stay in tune with our local market, continue to sell properties and report back our findings, and provide clear, experienced, professional representation. 

If you're looking for a Real Estate Agent to forge a relationship with this year to buy or sell a home or to simply stay informed on the Real Estate market and how it affects you please don't hesitate to contact me.

Here's to a great 2012!

Trackbacks (0)

Comments (0)

Post a Comment