I do hope you good people are ready for the Christmas Season....cause "It's Here"! I've decided not to spend any money this year, kinda scroogelike I suppose. This strategy is not to buy gifts for others, but more to survive for me. Real Estate is tough folks! But then, whoever said it was supposed to be easy? Maybe we appreciate a little more the accomplishments of tough times. I'm sure that we will all appreciate them more when things get better.
I've decided to make a prediction! I believe that we'll turn the corner this coming Spring, real buyers will come out, and those of us in the business will have to work harder....but we'll be productive. Investors better get their business done, cause....the buyers of 2011 will be real people, with good qualifications and a desire to buy! We already have inventory; the banks have money..........we just need the serious lookers. Do you fall in that category? I hope you do; there are deals galore out there. The year of the buyer....2011!!! See you then. Jim
Subscribe to:
Post Comments (Atom)
1 comments:
Hope on the Horizon:
5 Predictions for 2011
Freddie Mac analysts point to five features that they believe will likely characterize the 2011 housing and mortgage markets:
1. Low mortgage rates. With Fed observers expecting the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for most (or all) of 2011, relatively low mortgage rates will be a feature of the 2011 mortgage market. Thirty-year fixed-rate loans are likely to remain below 5 percent throughout the year, and initial rates of 5/1 hybrid adjustable-rate mortgages will likely remain below 4 percent in 2011.
2. Prices have hit bottom. House prices are likely to begin a gradual, but sustained recovery in the second half of 2011.
3. Housing will remain affordable. With affordability high, many first-time buyers will be attracted to the housing market in the New Year, likely translating into more home sales in 2011 than in 2010.
4. Refinances will dwindle. Many eligible borrowers have already refinanced and the federal Making Home Affordable refinance program is expiring on June 30. While fixed-rate loans are likely to remain low, they will move up gradually, making it even less likely that refinances will be attractive to most home owners.
5. Delinquency rates will decline. Based on the last several business cycles, the share of loans that are 90 or more days delinquent or in foreclosure proceedings — known as the "seriously delinquent rate" — generally crests within a year of the start of the recovery in payroll employment, and this economic recovery appears to fit within that pattern. Payrolls began to rise last January, and by the spring the seriously delinquent rate had begun to fall.
Source: Freddie Mac (12/09/2010)
Post a Comment