2010 Real Estate Outlook for Long Island

Coming off a tumultuous year like 2009, some positive news would be refreshing. Well, the news is positive. At least from certain perspectives, that is. While there may not be much in the way of equity gain in real estate values, the availability and accessibility of homes will definitely increase.\
We have already seen substantial drops in home values, as much as 30% in some markets. This trend has created a huge opportunity for first time homebuyers, move-up buyers, second home buyers, investment buyers - and the list goes on. And if that doesn't get you off the fence how about record mortgage rates of less than 5%!
Yes, these are troubled times for many. History has told us that the American economy rises and falls on home ownership. We just took a huge dip on that roller coaster. But hold on for the rest of the ride. We will see a substantial increase in activity over the next 12 months. The number of homes bought and sold will be the driving force of our economy's recovery overall and we are standing at the threshold of that event. Seize the day!

By: maryaliceruppert | In: Buying or Selling a Home | Comments: 0 | On: 12/31/2009 15:43:13

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