Real Estate: Will it Rebound in 2010?
Seems like everyone loves to predict what will happen in the real estate market as the new year approaches. Obviously, 2009 was a very testy year, but there were still plenty of opportunities to be found, if you knew where to look, and how to take advantage of them. So what do we face as we roll into 2010?
Prices are still down from last year, although closed sales increased by 72.4%. We think that’s still residue from the first-time home buyer’s tax credit that everyone had assumed would end in November, and they rushed to get their homes closed.
We’ve written articles in the past about buying a house in the winter, and why it’s a good idea to buy a house in inclement weather. Hopefully we will see a robust 2010 and that the New Year will start on an upswing.
Foreclosures and short sales were the hot topics of 2009, and some have predicted the amount of these types of transactions could rise dramatically in 2010. The first-time homebuyer tax credit was a big boon to the market, so it begs the question: will we see the trend of first-timers continue as the deadline approaches in April?
We’d love to hear what you think? Do you think real estate will rebound in 2010? Leave us your thoughts and comments by clicking the comment link below. Your email address will never be published here, nor will it ever be shared with any third parties. We’d love to hear from you.