Real Estate 2012… What’s In Your Future?

When it comes to real estate, the general sentiment appears to be that of putting 2011 in the past and looking forward to a brighter 2012.   Looking at where we are and where we are headed as far as real estate goes will take us from the dismal past and into the future.   Currently home values are relatively affordable, with prices and interest rates at historic lows.   Both of these factors add up to the fact that it is a great time to be a home buyer and/or investor.

Interest rates have been hovering below 5% or lower for the better part of the past year, a trend that cannot be expected to continue.   As the market stabilizes more and the economy gets better, interest rates will rise.   While home prices may still  continue to drop in some areas of the country, they probably will not drop much more.   Areas that are less affected by foreclosures, short sales and REO properties are likely to level out faster than other areas due to the lack of distressed sales in their inventories.   A rise in interest rates may bring real estate prices down to sell properties more quickly, but the days of 20% and 30% decreases appear to be unlikely.

In a nutshell, 2012 is a great time to buy if you’ve been a fence sitting  spectator  just waiting for the right time to plunge into the market.   Take advantage of current market while it’s here.   It is a buyer’s market today, but it won’t be forever.

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