Double-Dip in Housing Market

For over the last year, all we have heard is mostly negative information regarding the housing market conditions, and finally, the media has decided to share some positive information regarding the so-called "recovery" of the housing market. However, if you look deeper than the surface of the matter, you will see what is "recovering" will soon dip down again.




Let's take a look back at 2006, which was the biggest year in history for real estate in the United States. It was also the biggest year for 3-year, and 5-year ARM (Adjustable Rate Mortgages). Well, we all saw what happened when the 3-year ARMs hit in 2009, so what does that leave for the 5-Year ARMs in 2011?? One would think that will all the chaos of 2009 when the 3-Year ARMs reset, that those homeowners with the 5-Year ARMs would refinance. One problem is that a lot of those homeowners carrying the 5-Year ARMs don't know they have them. The other problem is that those who know they have them, and want to refinance, are having a hard time refinancing due to the constriction in the mortgage market. This storm is far from over. So, what does this all mean?? You are going to see a slight upswing to the market in the next couple months, but we will see another dip in the market, and yet another decrease in home values.



If you are thinking of selling your home, as a professional, I would highly recommend you talk to a Realtor about what you need to do to sell now, instead of waiting, and watching, property values decrease even more. I would rather take a 10 percent loss than a 20 percent loss, wouldn't you???



For more information, go to www.GreenvilleRealEstateGirl.com.

Not in South Carolina, I can help anyone, anywhere, buy, or sell, property.



"Life is hard. It's even harder when you're stupid."

-John Wayne

Lindsay Saunders, Realtor and REO Certified Specialist

Keller Williams Greenville Central Partners

864-607-0479 Direct

Saunders@kw.com

http://www.greenvillerealestategirl.com/