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2007 Residential Real Estate Forecast

In many ways 2006 was the non-year for non-seller's markets. Homes that are
real estate. The National Association of priced right and are in good condition
Realtors(R) reported that sales will be which offer features and finishes that
down in 2006 about 9 percent from 2005, a buyers demand, will sell close to list
record setting year.Many markets waited price in moderate market times. Flat or
for spring market which was negative appreciation.Florida, Arizona,
disappointing. Markets then believed California and Washington D.C., will have
buyers would re-group in summer,and unstable markets. Until sellers get a
buyers were a no-show. Fall and last reality-oriented wake-up call markets in
market hopes were dashed when fall came these locales will sputter and hiccup.Ten
and went, with plenty of traffic at open states posted solid sales gains in the
houses, but few contracts.Pent-up demand second quarter of 2006 versus 2005.
from a lackluster 2006 should drive Reported the National Association of
buyers back to market. But, these savvy Realtors(R). The gains ranged from an
buyers will be on the lookout for impressive 48% in Alaska to a low of 5.3
realistic prices and seller give-backs. percent in Georgia. The other eight
Most buyers will tell you point-blank states included Arkansas, Texas, North
that their income gains in the last five and South Carolina, Vermont, Tennessee,
years have not matched rises in home home New Mexico, and Wyoming.Residential real
prices. Real estate markets won't bounce estate will return to being viewed as
back until home sellers realize as prices shelter and housing and trend away from
go up, the pool of buyers shrinks being viewed as a speculative
proportionately. Buyers with a home to investment.What about 2008? Stable,
sell will include a home-sale pre-frenzy market with appreciation at 1%
contingency, so sellers should be annually.Mark Nash, is a residential real
prepared to accept one.Inventory levels estate author, broker, columnist and
will remain in the six to seven moth writer based in Chicago. His fourth book
range. Listing leftover's from 2006, will 1001 Tips for Buying and Selling a Home
roll into 2007. The leftovers are either received eighteen five star reviews on
un-realistic sellers whose pricing is His latest book; Real Estate A-Z for
from the "froth years" or thier homes Buying & Selling a Home will be published
haven't been updated to keep up with the in December 2006. Mark publishes a free
stiff competition and time-starved monthly ezine for real estate
buyers.Mortgage rates will remain in the professionals. Agent to Agent features
5.5% to 7% range. Historically low, but ten articles that offer free reprints for
low rates by themselves haven't motivated agents, home buyers and sellers through .
buyers to write real estate contracts in Real estate news and book reviews,
2006.Foreclosures will rise. Risky loans Celebrity Homestyles, Home selling and
such as Interest-Only, Option ARM's and buying tips and advice,
100% financing will tap out buyers whose Joke-of-the-Month, Help this Agent, and
used these "appreciation-oriented" agent marketing tips. Over 5000
mortgages.Prices will drop 4-10% before subscribers in the U.S. & Canada.
leveling off in the majority of




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