It’s been a year of ups and downs for, not only Lake Nacimiento Real Estate, but the national housing market as well. With the end of 2010 quickly approaching, we’re looking ahead to what the New Year brings! I’ve enjoyed working with the communities of Oak Shores and Heritage Ranch on Lake Nacimiento even with the market still picking itself up from the rubble of the recession. At Oak Shores Realty, we’re optimistic about the future and although the market still may take a few years to fully recover, we can expect 2011 to see a continual stabilization.
Inman News recently put out an article that gave insight into where the market is headed for 2011. There are some pros and cons as the housing market is trying to adjust, and I wanted to give you an idea of some of the trends for 2011.
1. Mortgage Rates– Mortgage rates will remain low and are expected to continue below 5% for the majority of 2011.
2. Foreclosures– There will be more foreclosed homes coming on the market next year. This will result in an abundance of supply, but also a somewhat lower quality of homes. While many try to steer clear of foreclosure homes; Oak Shores Realty specializes in short sale and foreclosure homes and can help you buy one of these homes! We have years of experience in dealing with negotiations and the additional paperwork that goes along with these types of sales and have been very successful in helping people find the foreclosure home that fits their needs and lifestyle!
3. Lower Prices– It’s expected that home prices will drop another 5-10% this coming year due to the amount of foreclosures coming on the market. This is great news for those hoping to buy a home in Oak Shores or Heritage Ranch on Lake Nacimiento!
Although the national housing market is not expected to improve drastically within the next year, this is the process we will have to go through to heal and many are very optimistic about the upswing for 2012. Those interested in buying a home on Lake Nacimiento will benefit from steady mortgage rates and home prices.
If you need to sell your Lake Nacimiento home within the coming year; please let me know! I can help you each step of the way! You may be concerned about your home being underwater and are currently facing a possible foreclosure on your home, however there’s another option! I’m a certified short sale expert and can help save your home from going into foreclosure.
Your Local Lake Nacimiento Real Estate Expert
Oak Shores Realty
Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.
Please let us know how we can help!