Where is the Real Estate Market Headed in 2012?

Where is the Real Estate Market Headed in 2012? On Thursday, Veros Real Estate Solutions released its VeroFORECAST real estate market forecast  for the 12-month period ending Dec. 1, 2012. Their findings indicate “the national housing recovery will continue to be gradual and slow without any significant changes in markets.” Veros predicts up to four percent appreciation in the strongest markets, including Fargo and Bismark, North Dakota; the Washington, D.C. area; Honolulu, Hawaii; and Anchorage, Alaska. Veros projects the five weakest markets—which include areas of California, Nevada and Florida—to depreciate five to six percent over the next year. While this is welcome news for the country’s strongest markets, the reality is, 1 in 5 homeowners are underwater on their mortgage. For many of them, the recovery isn’t coming quickly enough. Housing prices remain 33% below 2006 levels, so even at four percent appreciation, millions of homeowners remain in serious peril. There is opportunity to help many homeowners with foreclosure advoidance.  We would love to help you here in Grand Rapids Area and beyond. Please check out our websites or call for more information. To Your Success! Rapid Real Estate Team www.ShortSaleRRES.com www.RRES-ManageMyShortSale.com