Housing Peak 10 Years Away Is Not All Bad News

An interesting article.

I, for one, feel good about the future of real estate, both in terms of a personal business and as a positive (long-term) investment for home buyers and owners.

If we haven’t yet hit “the bottom”, it certainly can’t drop much further. Sure there is probably another round of foreclosures to keep prices low for first time buyers (and to keep Realtors working really hard to show and sell the large volume of inventory), but with homes in nearly move-in condition selling as low as $30,000 (Phillips neighborhood), I can’t imagine them selling lower.

It will definitely be a long climb back up. Millions of people are going to have homes that are “under water” for several years.

These past few months, I’ve learned a great deal about the process of mortgage modifications, and how to prepare a home for a possible “short-sale”.

I’m open to dish out advice to anyone who needs it.

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