ABQ Real Estate Prediction

Well, here goes....... my personal Crystal Ball for 2011. What is the good news? Prices will continue to stabilize and inch up month by month. Mortgage rates will go up to 5% which still is terrific. All and all, it will be a good time to buy because buyers can have some confidence that if they make an investment now, the value will hold and begin to appreciate over the next five years. Already, I have more buyers who want to purchase in this first quarter than I have had in the last two years. I sense that people are more secure in thier jobs as the mass layoffs have all but disappeared, and the stock market is positive so no more losses are expected in that arena. Retail sales are up and real estate is next, I think. For sellers, the time to sell will be better in 2011. Prices won't be up from the past two years, but the slide downward in value has largely stopped. There are foreclosures that will need to be sold this year and those are tough competition, but that too shall end. The thing I see is the return to a "Fair Market" value. Not that buyers won't still come in with low offers, but they quickly up the offer when the Seller counters at a reasonable price. Homes that are selling are selling at fair prices. Homes that are in good condition and fairly priced sell within 60 days. The days of wildly inflated prices, and profits, from real estate may be over, but property once again will be a good, reliable investment for the future. I am forecasting an improved market. There it is..... my Crystal Ball. Call me if you want to discuss your particular situation. 2011 will be the year to make a move!