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Real Estate Predictions for 2012

Starting a new year brings us the hope and excitement to pursue our goals, but will the circumstances in the outside world match up to our dreams? Will the housing market help us achieve our real estate resolutions? Real estate experts say, “Yes and no.” Here are some of their 2012 real estate forecasts:

First, two articles with very specific predictions:

  • The foreclosure crisis is nowhere near over. In fact, MSNBC reports that, “If the U.S. foreclosure crisis were a baseball game, we’d probably be in the bottom of the fourth inning.” At the end of 2011, the number of borrowers behind on their mortgage payments went down, but it was still far above the normal rate it was at before the crisis hit in 2007. A high rate of foreclosures is expected to continue for four more years, along with lower home prices due to foreclosed houses pouring onto the market.
  • On the other hand, AG Beat predicts good news in investment property sales. The reason might surprise you: The Chinese government is loosening their restrictions on foreign investments. This gives a whole new group of wealthy, ambitious investors the freedom to buy real-estate portfolios in the U.S.

And here are more complete overviews of what 2012 has in store:

  • The home buying and real estate channel at About.com offers their “Top 10 Real Estate Predictions for 2012,” and none of them are rosy. In fact, all of these predictions grow naturally out of the continuing foreclosure crisis: very little appreciation in home values, more creative ways to sell and finance, and many people remodeling their homes instead of buying new ones. They also expect more purchases of second homes, as those who can afford to buy take advantage of low prices.
  • Tara-Nicholle Nelson of Inman News gives four real estate predictions for 2012, also focusing on the continuing foreclosure crisis. She expects foreclosures to continue and short sales to become common practice. Still, Nelson sees a silver lining. She believes that 2012 is the year when buyers and sellers will finally get real and start planning for the real estate market that is, not the one they wish they had.

While the above information might seem daunting to current and future homeowners, the important thing to remember is that there is OPPORTUNITY in every market. Now is the best time to build a relationship with a Realtor and use their in-depth market expertise to help you navigate the real estate landscape to YOUR advantage. Whatever you might need to accomplish, from a home purchase to achieving top dollar for a sale in a seemingly down market, your Realtor’s local market knowledge will be key to helping you get from where you are to where you need to be!

The Staff at San Juan Realty, Inc.

Sky Mountain Ranch 60X Road San Miguel County Colorado

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