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The Best Housing Markets in America

2011 is not a good year for the housing markets in the United States. It is anticipated that real estate prices will fall an additional 2.5% in the second half of this year. The high foreclosure rates, high unemployment rates and low consumer confidence has a continuing negative effect on the real estate market. However, there are some markets that are expected to perform well this year. The five metropolitan areas that anticipate having the price of residential real estate go up are Washington D.C., Orlando, Dallas, San Francisco and New York City.

There tends to a be a positive up tick in the real estate market in the summer. The warm weather allows people to go outside and shop around for homes, co-ops and condos.

Distressed Home Sales

Before the housing market started to fail, distressed home sales related to foreclosures were a very small part of the real estate market. Today, bank owned homes represent approximately a third of all total sales of residential real estate. When you compare this to the year 2005, where distressed home sales were less than 5%, you see an enormous jump. In the year 2010, 1.7 million homes were considered distressed home sales.

Will Home Sales Bottom Out In 2011?

Some real estate experts believe that home sales will reach their lowest point in the first quarter of 2012. The Federal Reserve feels that the jobless rate will dip below 8% in 2012 and that the growth domestic product will increase from 3.3% to 3.7%.

Foreclosure Defense

If your house is being foreclosed or threatened to being foreclosed upon, call us, we can help you. We can attend foreclosure court conferences on your behalf. We can submit an answer to your foreclosure proceeding that can include defenses involving defective mortgages, defective foreclosure lawsuits, predatory lending and other real estate related defenses. We are knowledgeable about federal laws and foreclosure. We will provide you at the time of the initial consultation with all of your foreclosure options. These options will include foreclosure related bankruptcies. The filing of either a Chapter 7 or Chapter 13 bankruptcy will stop foreclosures from moving forward. Filing a bankruptcy will also stop debt collectors and collection lawyers that may be harassing you. There are many bankruptcy myths that are untrue. Bankruptcy will not permanently destroy your credit. We will be able to help you re-establish credit after filing a bankruptcy.

Call us for a free consultation, we can help you. Thank you for visiting our foreclosure blog.

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We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

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