The overwhelming amount of distressed real estate has dragged down home prices virtually nationwide and will continue to do so as long as homeowners continue to struggle meeting their monthly mortgage obligations, according to Moody’s Economy.com.
From the report (via DSNews.com):
“We expect that house prices will continue to decline because the pipeline of distressed mortgages is substantial and because the price discounts for distress sales weaken all house prices.”
This is music to the ears for buyers and investors. And it’s a major reason the best foreclosure-related opportunities fly off the market.
Getting in on the action now, before the prices begin their gradual climb up, is an incredibly smart decision now and in the future.
It’s more than likely instant equity!
There are also a ton of options from which to choose — there is something for everyone out there if you dig deep enough.
Moody’s predicts a “rebound” by 2012, meaning that in two years these buyer-friendly conditions and amazing deals could be history. And there’s no telling if the getting, from a buyers/investors perspective, will ever get this good anytime soon.
Act fast before it’s too and help yourself … and a homeowner!
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