The New Year has come and a lot of expectations are floating in the air. People are making plans and prospects for the year of 2010. Those involved in the sphere of real estate have their plans as well. They study the predictions and read prognoses for this year in order to see what is expected in the world of real estate and what actions to undertake. There are a number of predictions, theories, and expectations for this year. In order to make right financial decisions you should observe the existing trends which will inform you about what is currently going on in the world of real estate.

The most widely spread predictions for this new year concern foreclosures, residential housing market and mortgage requirements. The inventory of foreclosures will be much higher. Last year this inventory was substituted by homes held by the banks and those still on the foreclosure process. This year it is predicted that the shadow inventory will be included. There are a number of homes on which the payments are not made and they will be included as well. A number of people, who purchased real estate last year, cannot make the monthly payments now. This will lead to expansion of the foreclosure inventory.

The first half of the year will witness a decline in residential housing market if the governmental programs introduced last year expire. If such programs as the first-time home buyer tax credit and the Federal Fannie Freddie mortgage purchase program end up the demand for the residential homes will decrease rapidly. This factor as well as the expanding foreclosure inventory will contribute to the decrease of residential property prices. This will be a good time to buy a real estate for those who can afford it. However, the seller will be in unfavorable position.

This year the requirements for mortgage qualification will become stricter. The standards for this qualification were very low last year and allowed a huge number of loans. Thus, the number of lending issued increased. A lot of people got mortgages easily and then it turned out that they cannot make necessary monthly payments. This happened due to the loose standards for mortgage qualification. It is logical that the requirements will become stricter to avoid such situations in future.

Generally speaking the condition of the real estate market will stay the same during the first half of the year. The stabilization of the market will begin at the beginning of the second half and increase closer to the end of the year. At this period the sellers will be in a more advantageous position as before. It will still be more amicable for the buyers; however the situation will improve for the sellers as well.

If you are interested in learning more about Evergreen real estate, then you should be here – on the Evergreen CO real estate web site. This is a very detailed and helpful web resource with all sorts of information about Evergreen homes for sale.

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