Real Estate Market Predictions for Harrisburg PA for 2011

Real Estate Market Predictions for Harrisburg PA for 2011: Wonder what the real estate market will do in 2011? Only time will tell, but we can examine some trends from the past and look at what is happening today to get a pretty good idea of what this year will mean for home buyers and home sellers.

Here are 8 things I predict will happen in 2011’s real estate market:

1. “Recovery” is the Hot Buzz Word.In a market that appears as if it can do nothing but go up, a majority of everyone’s focus this coming year will be on recovery. The not so great news is that recovery is around the corner, but not necessarily the immediate proverbial corner. The better news is that recovery is in sight. Home prices may fluctuate a little, moving up or down just a bit, but they should remain relatively flat for 2011.

2. Real Estate Brokerages will Merge. In a desperate market, many find the need to consolidate in effort to stay afloat. Smaller real estate companies are struggling to keep their doors open with expenses and a slow market. As a result, many of them may merge with larger companies better able to sustain the ups and downs of the market.

3. Sales of New Construction Homes will Dominate.

4. Some Luxury Homes Will Sell as Short Sales. The wealthy who buy the large luxury homes usually count on a nice retirement in their later years. As the market continues to decline or plateau, so are retirement accounts. Some are choosing to get out of their homes as quickly as possible to funnel more money into retirement before it is too late. This trend will likely continue in the new year.

5. Mortgages Will Continue to Be Cheap. Since credit score requirements to receive a loan have gone up, it is more difficult to get a loan. As a result, experts predict the federal government will likely keep interest rates low to stimulate the real estate market.

6. Cash Investors will Win. Cash talks much louder today than credit. Obtaining a loan you will pay out over time is much riskier to a seller than putting down cash on something. Sometimes you can even pay less on an investment if you pay in cash.

7. Many Mortgage Brokers will Fold. A law passed in 2008 which dictated new guidelines for mortgage brokers went into full effect on January 1, 2011. These new rules are much stricter and make being a mortgage broker more difficult. Many will simply go out of business.

8. Foreclosure and Short Sale Lawsuits will Start. Think you are off scot free once you have a foreclosure or short sale? Think again! In fact, lenders can still pursue you after you think you’ve washed your hands of a bad home loan. In many states, you can be sued for the liability of the remainder of a loan. This means if your home went into foreclosure or short sale and the lender didn’t retrieve the total amount owed, they can still pursue you for the remaining amount.

Don’t lose out on this incredible opportunity! My Real Estate Market Predictions for 2011 are proving true. Contact me now to buy your home during the best time to purchase in our lifetimes. 717-514-1793, or email me at Ken@KensHomesales.com

Harrisburg PA Real Estate Expert

Ken Huebsch is your premier real estate agent in the Greater Harrisburg area.  I am a specialist in Harrisburg real estate  as well as the communities of Palmyra, Hershey, and Hummelstown.  My wife Leslye and I have 40 plus years of experience serving our clients -We KNOW Harrisburg. When you plan to buy or sell Harrisburg area real estate, allow us to work for you.  We are dedicated professionals and are here for your success.  For more information on how we can best serve your real estate needs, please complete our online contact form or give us a call.  Also, check out what our fabulous clients have to say about us on our testimonials page!

Cell: 717 514-1793
email: mailto:Ken@KensHomesales.com

 

presented by KensHomesales.com

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