Posts Tagged ‘ sub-prime ’

Ten Real Estate Predictions for 2008

Real Estate Predictions for 20081. Rents will rise

Due to tightening credit, many prospective homeowners will stop their home searches and stay in their rentals. Defaulting and near defaulting homeowners will look to rent driving up demand, vacancy rates and rents.

2. The 30 year mortgage will become popular again

The proliferation of three year interest only adjustable rate mortgages (ARMS) over the past three years has exposed that such loans don’t foster homeownership, but rather defaults. The realization that taking out an interest only ARM is not buying a home but rather “renting” from a bank without the protection of a lease agreement or statute (why is there a tax break for this type of speculation but not for rent payments?) will lead to the return of the 30 year fixed mortgage.

3. Fallout from the sub-prime crisis will have broad economic and social impacts

In many areas where foreclosures are high, urban blight and crime will take hold. The mess left behind of boarded up homes by defaulting home owners and lenders apathetic about these assets will create “no go zones” in the areas hit hardest. Continue reading this post


Posted by: Louis Cammarosano on January 10th, 2008 under Market Trends


2007 In Review – Top 10 Home Selling Cities

Turning over a new leaf at the New Year may be a very good thing this year for some as far as the real estate market is concerned.

Something like “Great in ‘08” seems to have a nice ring to it about now, doesn’t it?

Many of us are indeed ready for a fresh start and will welcome the New Year with open arms.

Personally I think that the bad news is about all out on the table and may be overstated by some real estate pundits, at least in some markets.

I did some checking yesterday, and a number of HomeGain member agents had great success stories in 2007 with just their HomeGain business. In fact, we have agents in CA, NV, PA, TX and VA that increased their HomeGain business, based on the number of closings, from 25% to well over 100% in some cases.

Imagine that!

Those same agents increased their business, based on commissions earned, by from 20% to over 100% again. And that’s just a portion of their overall business.

While real estate news reports during the year centered on the sub-prime meltdown, increased foreclosures across the nation, falling home prices and sales, and mortgage company bankruptcies, Continue reading this post


Posted by: Peggy Boehm on December 28th, 2007 under AgentEvaluator, HomeGain Market Data, Market Trends

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