Talking Points for the New Year
Here’s what to remember in early 2010…

• Roughly one in every seven mortgages either was past due or in foreclosure by the end of the third quarter—the highest delinquency rate in the 37-year history of the Mortgage Bankers Association’s National Delinquency Survey.
• Two factors are expected to drive delinquencies even higher next year: Underwater homeowners and unemployment.  Nearly one in four homeowners currently owes more on their mortgage than their home currently is worth, and additional job losses could mean more borrowers will be unable to meet their mortgage obligations.  This means that more foreclosures and Short Sales will be available for sale.
• The performance of the national housing market is much less important than the local market, and sales and pricing trends will vary a great deal from one area to the next.  Some real estate industry experts forecast home prices in certain areas to continue their descent, while others will experience increases.
• Contact me to gather as much information about an area as possible and to help determine the right area for your needs.

Related articles

• Why Foreclosures Rise Even as the Economy Expands (usnews.com)

Filed under: Current Events, Economy, Listing Presentation, Real Estate Market, VRN