Finally, after months of poor performance in America’s housing industry, it seems like 2012 is going to be the year of recovery, albeit gradual. In South Florida for example, home sales are increasing which is good because prices were really hitting a low. However, the mortgages people took out during the boom are still negatively impacting the market and this has been extremely challenging for many homeowners.
So, for those encountering difficulties in the housing market – be they homeowners, those looking to buy or potential sellers – there are some ways of improving the situation. First, since things have started to look up, for those looking to sell it is worth trying to do so earlier rather than later before foreclosures appear. No matter how desperate you are to sell though, do not try to provide cash/cars/other incentives to get them to buy. It is a bad idea.
In general, it looks like it is going to be a good year for sales; there are fewer declines in pricing as well as fewer properties on the market than in say 2009, 2010 and 2011. In addition, it is anticipated that there will be another wave of bank-owned homes which will result in lower values and additional competition for those looking to buy properties.