2009 REAL ESTATE FORECAST

As the new year rolls in so does the hesitation.  According to

a Fox News report, existing home sales in December are expected to be lower than anticipated.  It seems that people are still leary of jumping in.  Even with favorable mortgage rates and good deals to be had, we’re still seeing cold feet when it comes to real estate purchases.  People are just nervous that the price will go down more and why should they buy if there’s a chance that it will go lower. 

This is a real predicament and one that is hard to ignore.  I would advise people to be cautious about the neighborhood they are buying in.  Remember these numbers are nationwide and while we’ve all felt the crunch, there are certain areas in the country that are definitely faring worse than others. 

I still say if you can take advantage of the low mortgage rates along with the reasonable price points and you love the home, you should take the risk.  I’m an optimist and believe things will get better.  This is a correction that was long overdue in light of the escalating increases in value and “easy money”.