Are Things Stabilizing?

The sky is falling in real estate as we all know from the hysterical media. Of course, this is the same group that thought the hot sellers’ market would never end. The reality is things are still tough in the mortgage market. Foreclosures are expected to go up this year as loans adjust to higher interest rates and monthly payments. There is good news, however. There is a survey every month of home prices and values across the country to see what trends are occurring. The good news is prices seem to be stabilizing and slight gains are even being seen in certain parts of the country. This is certainly a good sign for homeowners. Keep in mind, however, that national trends don’t mean anything to you. The key is to figure out what is happening in YOUR area.