Real estate experts seem to think that there will be more home sales next year, but the only way I see that happening is if we can get all foreclosures out, listed on the market. Whether they are purchased by an investor, first-time homebuyer or someone who is just looking to relocate, it doesn’t matter. The key is making sure that what needs to get filed is filed, and what needs to be listed is listed. Either way, I am hopeful that our sales will begin to increase now, but the foreclosure moratorium does tend to slow things down.
Commercial real estate lenders are looking for more sales next year as well, so long as plenty of jobs have been added. When that happens, getting more commercial sales should not be an issue. Everyone who has a rental property whether it is real property or commercial property will still need to ensure that they are able to cover the rent they have on their property.
Flipping no longer seems to be the way to go, and those who were looking to do so now appeared discourage. The fear is that when you buy a property, will you now be able to find someone to buy it after you sink money into it to fix it? It’s a tough call, and word has it that nearly $1.4 trillion in mortgages on malls and other commercial properties will be coming due.
-Mayer Dallal
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