2009 Predictions For Jersey Shore Real Estate

2009 Predictions For Jersey Shore Real Estate

2009 is likely to be a year of continuing adjustment to a changing real estate marketplace. HGTV’s FrontDoor.com predictions for 2009 are relevant for Jersey Shore real estate…

  • Sellers will continue to face falling home values in the new year because they’ll be competing with banks and builders who are slashing prices to sell off the still-huge inventory of foreclosures and new homes.
  • The Obama administration will act on its plan to crack down on abusive lending practices.
  • Mortgage holders in danger of losing their homes will receive more assistance from a variety of programs since the Senate’s Joint Economic Committee has predicted two million foreclosures in 2009.
  • Banks’ restructuring should bring increasing calm, making loan modifications and short sales easier to obtain. Eventually this will lead to a decrease in the number of bank-owned properties on the market.
  • Mortgage applications will continue to receive a comprehensive review, requiring borrowers to provide extensive income and debt documentation. Those with the best credit will get the best rates.
  • The foreclosure crisis has created wiser consumers, with a deeper understanding of real estate, mortgages, and credit enabling better decision-making going forward.
  • Green is good with increasing numbers of buyers opting for smaller homes that are within walking distance of school and work.
  • Buyers and sellers will be more and more tech savvy, relying on tools like video, webcasts, and mobile search. Consumers and practitioners will benefit from being ahead of the curve.
  • Prices will be low as will interest rates, creating great buying opportunities, and likely, inspiring reluctant buyers to make their move.
  • The recession will end and buyers will regain confidence in the market.

Learn more about Jersey Shore real estate by visiting PatrickParkerHomes.com.

Search all Jersey Shore real estate and homes for sale.

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About Patrick Parker Realty

Patrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach is your local market leader. We understand the demands of a changing real estate market and avail ourselves of the latest industry information and tools to ensure excellent results. Our Commitment to You Our seasoned Real Estate Agents are committed to providing all of our clients, from first time sellers to veteran real estate investors, quality and friendly service. We walk you through every step of the sale process offering the guidance, feedback, and expertise needed to ensure your complete satisfaction.
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