| Housing Trends Emerge from a Shaky Market |
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There are six key trends emerging in our still-shaky housing market. Knowing about these trends and being able to meet their challenges is essential for any real estate professiona,l as well as home buyers, sellers and investors, in being able to control how much money they can make--or lose.
- Distressed properties will keep the pressure on prices, as home owners continue to strategically walk away and sale prices drop. Short sales are expected to rise sharply, spurred on by the government's short sale program.
- Larger homes are lagging most. Smaller, more affordable homes are selling much more easily and quickly than those of their larger counterparts. Home owners are willing to trade potential investment for shorter commutes and lower energy bills.
- Mortgage rates will rise. As the Federal Reserve ends its program to purchase mortgage-backed securities, you can kiss those lowest rates in history goodbye.
- Tougher financing for condos, large loans and secondary homes will result as the requirements become more strict, with more money down.
- Spring deals will arise as the tax credit comes to an end. As the deadline for this tax credit looms, transactions will pick up.
- Go green and save money. The ongoing trends in green technology and demand are on the rise, and the government offers tax breaks on these improvements, making them even more attractive.
Read more about these trends and how to react to them at CNNMoney.com.
Posted on March 24, 2010 15:45:51 by Scott.Shields
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