2012 Real Estate Market Predictions

activerain REAL ESTATE RECOVERY oR NOT 2012 PREDICTIONS BY THE PROS *REAL ESTATE AGENTS CALL THE BOTTOM IN 2012* The world's largest network of real estate professionals ActiveRain conducted a survey of 1,852 real estate professionals in the United States and Canada to understand the key real estate market trends at both national & local levels. FROM 2011 to 2012, REAL ESTATE PROFESSIONALS PREDICT: Real estate transactions will increase. THE BIGGEST CHALLENGES Local economies will FACING A REAL ESTATE RECOVERY start to improve. ARE BANK RELATED. Real estate values will be flat. 1. Short sales/ underwater mortgages New construction starts will increase slightly. 2. Homebuyer inability to get a loan 3. Foreclosures * People are relocating to low cost markets with reasonable housing prices & stable industries * Snowbirds are picking up senior housing on the cheap THE TOP TEN REAL ESTATE MARKETS * Investors are taking advantage of low interest rates and low prices * International buyers with cash are looking for second homes in the sun 1. Ft. Myers - Naples Boise Florida 2. Austin 3. Boise 4. San Antonio * Low cost of living 5. Miami - Ft.Lauderdale No state income tax 6. Denver 7. Dallas - Ft. Worth 8. Nashville 9. Houston * Job growth from corporate relocations Техas * Large technology and energy industries 10. Salt Lake City THE TEN BEST & WORST REAL ESTATE MARKETS Providence New York Cleveland OBoise Chicago Philadelphia( Springfield O Salt Lake City OReno O Denver Sacramento O Nashville Los Angeles O San Diego Dallas - Ft. Worth Austin San Antonio Houston Ft. Myers - Naples Miami - Ft. Lauderdale * High unemployment, ence on the finance industry THE BOTTOM TEN REAL ESTATE MARKETS * Persistence of short sales and foreclosures * Conventional loan limits making loan qualification difficult 1. Reno 2. Sacramento Chicago 3. Chicago 4. New York * Sellers are unrealistic * High reliance on the Wall Street * Highest number of foreclosures and short sales in the country 5. Providence 6. Springfield, MO 7. San Diego 8. Los Angeles 9. Cleveland 10. Philadelphia * Increasing unemployment in the banking and finance industries ★ High unemployment * High cost of living * High cost of living, high real estate prices California * Major state budget deficits causing cutbacks in services * Difficult to finance home purchases New York Canadian Real Estate Market Recovering "Rentals on the Rise." IN 2012, CANADIAN REAL ESTATE AGENTS SEE: IF I HAD $100k TO INVEST IN 2012, I WOULD BUY... Real estate values increasing. Local economies 2.3% 9.3% 4.7% improving. Rental property 51.2% 32.6% Residental real estate New construction starts increasing. Real estate transactions increasing. Savings account A new mattress Commercial property Canadian worries center focus on inflation and gas prices. Sponsored by: AT EchoSign. chatter" REALESTATE.COM market leader. Adobe You send. They sign. It's done. chattercreative.com Source: ActiveRain.com 2012 Find the full survey results and methodology at www.activerain.com/real-estate-values