SACRAMENTO, Calif., Dec 09, 2008 (BUSINESS WIRE) — The nation’s foreclosure hemorrhage has finally slowed and 2009 should see a significant decline in foreclosures as buyers return, pushing home prices up and fueling a real estate recovery, according to the 2009 Outlook from ForeclosureS.com, the leading real estate and property information and education specialists.
“Recovery is underway. Affordable is back in the housing market,” says Alexis McGee, real estate expert, educator, and president of ForeclosureS.com. “In 2009, housing will not only recover, but we’ll see buyers leap into this market in droves, depleting our housing oversupply, and actually put higher price pressures on the market.”
“With 4.5% fixed mortgage rates, housing prices lower than they were ‘pre-housing bubble’, commodity prices lower, tax credits available for homebuyers, and the government eager to stimulate our economy, for the first time in years I can see prices rising again in 2009,” adds McGee. “This is a great time to buy properties for investors — to buy properties at wholesale prices below today’s already low prices — rent them out for positive cash flow and then sell them for big profits in late 2009 once price appreciation kicks in.”
ForeclosureS.com: Housing Markets Will Roar Back in 2009 U.S. Foreclosures Index Paints Bright Picture - MarketWatch.com
