Where will housing values go?

With all that has gone on over the last couple of years, it is becoming a great time to purchase a property, or refinance your existing mortgage.

In the real estate market, I would expect that we will see an increase in supply with the expiration the tax credits for homebuyers (which caused a short-term spike in demand), and in increase in the numbers of homes that are being released into the market by lenders that have foreclosed properties on their books. With declining numbers of showings, and increased competiton/supply, some of which will be from "distressed" properties, sellers will be inclined to consider lower offers to get their properties sold.

This is occurring at a time when mortgage rates are low. While qualifying for a mortgage has become more difficult, stable rates are available for qualified borrowers with reliable incomes, good credit scores, and the ability to bring cash into the equation.

Refinances are also an attractive option now, with fixed and adjustable products available at very attractive rates.