Real Estate Recovery Possible in Next 12 months
January 12, 2009
According to one report, there may be a real estate recovery possible in the next 12 months
. Some of the experts within the real estate industry are allocating credit that the slowing of the real estate decline should be credited at least in part to investors and speculators who are snatching up various opportunites that are coming available in their respective markets. This is having 2 effects primarily: one, its lowering the total amount of inventory within the local markets, and two, its beginning to establish a bottoming out value for the homes in the markets. This stimulus has provided somewhat of a safety net to the real estate industry – and can help potentially motivate other prospective home purchasers to take action and make a purchase. Predictions for the real estate recovery within the next 12 (to 18) months, assume of course that there won’t be additional outside factors such as a worsening economy, job losses, etc. If these experts are on track, we should see some signs of recovery and improvement in early 2009 for those real estate markets that haven’t seen significant downturns in their local markets.
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3 Responses to “Real Estate Recovery Possible in Next 12 months”
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Finally some good news! It’s a rough financial world right now and it’s rare to see some good news…18 months might not sound like good news, but some experts are talking years-and-years.
The outside factors are what I’m most worried about; hopefully, some of these “bailouts” begin to do something…or, we could just stop with the bailouts
Eric I think there will definitely be a recovering for several reasons. The big problem now is excessive inventory that WAS combined with high prices, at least here in Las Vegas. Prices have steadily dropped down to a level where a monthly house payment costs less than rent. So it has become a financially smart move to own instead of rent here. Foreclosures have slowed down and with the new administration coming in, there will be more oversight and some actual help provided to homeowners struggling to make it work. Everything I’ve stated has also been echoed in the press recently.
It reminds me of that ancient chinese proverb: may you live in interesting times.
Reading this article from back in January, I still didn’t believe a 12 to 18 month recovery. I remember in January thinking, “when is the pain going to stop.” Our government is still so far out of control for spending money its crazy.