What to expect in Real Estate in 2011!

2010 was a year of challenges for our industry. We faced falling home prices, increasing foreclosures, expiring home buyer tax credits and tighter lending policies. However we made it! 2011 promises to be a year of transition for our industry. Next year we will get our first taste of our “new normal” market for the next three to seven years. As we close out on 2010, we have seen various positive economic reports in December. Everything from increased hiring expectations, higher holiday sales and increasing consumer confidence! As we get a little wind to our back and consumers feel better about the economy, we will see more homebuyers enter the market. I do not expect to see any price appreciation in the Atlanta market in 2011; but price stabilization would be great! I am 100% convinced we are through the worst and with fewer lenders and agents in the market we are in a great position for growth in 2011! Next year we will continue to offer two week turn times, common sense underwriting and the ability to close loans other lender s will not. The competition will be laying off production staff next year due the forecasted drop in production of 35%! This is due to rates settling in the 5% for the year and refinances drying up. This will continue to drive up closing times and loan denials as the large lenders “cherry pick” the best loans. At Brayden Capital we will continue to offer your clients competitive rates with the best service in the state! Why wait 30-45 days to close when you can close the transaction in two weeks?
I look forward to helping your business grow next year by providing our clients the service, expertise and value they have come to expect. This expectation drives referrals and referrals drive growth. Enjoy your New Years; I will be toasting to your health and a prosperous 2011!
Take care,
D