The start of a new year is often a time of reflection, which over the past 12 months, held a struggling real estate market in my market area. Thankfully, reflection also brings about anticipation and optimism for the year to come. In lieu of our new year approaching, I’ve decided to put together 11 residential real estate predictions for 2011 – released one day at a time. Enjoy!
6) Home Values will continue to fall in 2011
Remember, this is simply my humble prediction – but in looking at the data in my area, I think there are too many signs pointing to declining values at least through the first 6 months of 2011. More foreclosures, short sales, and reluctant buyers & sellers will assure that this happens. By the end of the year, we may have bottomed out (or be nearing the bottom), but I do expect modest gains at some point in 2012.
I’m not actually the only one who thinks along these lines…I am in the company of Forbe’s, Moody’s Analytics, Time, and The Wall Street Journal…who all believe we still haven’t seen the bottom yet.
What does this mean for today’s buyer? With mortgage rates still low, and prices nearing a bottom – it will likely be one of the best times in many years to invest in real estate – but only if you have the means to do so.
Stay tuned for tomorrow’s prediction!
For help purchasing your next home, or selling the one you’re in…give me a call at (425) 483-1010 or email at Ryan@BoardwalkSeattle.com!
Real Estate Broker | Realtor ®
Boardwalk Real Estate, LLC
Phone: (206) 930-7959 | Email: Ryan@BoardwalkSeattle.com
Providing professional real estate services throughout the Greater Seattle area.
North Seattle | Bothell | Lake Forest Park | Edmonds | Mill Creek