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Wednesday, February 29, 2012

The End of the Housing Crisis?

It has been a great season in real estate.  The phones are ringing, buyers are in abundance, many of them actually qualifying to purchase homes... despite tight lending restrictions.  Recent reports are now saying that lending restrictions are about to loosen up a bit, so the prospect for a great spring in real estate is very bright.

While the prediction is that 2012 will still see a high number of foreclosures on the market as banks continue to try to clear the books of their inventory, a recently proposed bill was designed to speed up the short sale process so that fewer homes end up on the sheriff's docket.

My own prediction is that at the end of the election season we will begin to see inflation and higher interest rates. For investors and first time home buyers, this may be the last year to cash in on the really great deals that we have been seeing in the market on both home purchases and interest rates.