Market predictions from the nation's biggest lender
Hello!
We gained some great insight this week at our office meeting for RE/MAX Excalibur. Our broker shared with us some statistics he gained at a conference, hosted by Countrywide Home Loans - the largest mortgage lender in the nation.
Countrywide shared with the group that in the past 4 months, foreclosures are up 100% across the nation - with California, Nevada, and Arizona leading the pack. Still, Countrywide had forecasted this 'bust', and prepared for it. They are in no danger of closing up shop.
The most telling statistic - and the one we are most excited about - is what they predict. They are forecasting that we are going to see the housing market correct and recover over the next year or so. As good as 2005 was for appreciation, they expect that 2010 will far exceed what we saw in 2005! Granted, no one has a crystal ball, but when you have a company this big, with this much power, data, and research abilities, there's certainly more weight behind this statement than if you ask the average person on the street - or even a real estate professional. The resources they have at their disposal are unparalleled. We are not taking their prediction lightly!
What does this mean to you?
Right now, there are still a lot of homes on the market. What's the #1 rule of real estate investing? "BUY LOW, SELL HIGH". There are GREAT deals out there to be had; now is the time to start acquiring real estate, before everyone catches on and the markets rebound. 2010 is only 2.5 years away - will YOU be ready for the next real estate boom?
For more insight and assistance in real estate investing, please contact us at info@WeAreAZRealEstate.com - as always, our advice is free....
Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333