5 Recommendations for Navigating Today’s Mortgage and Housing Markets
RISMEDIA, May 9, 2009-”There are five distinct strategies that can help home owners, buyers, and sellers successfully navigate today’s turbulent mortgage and housing markets,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers.
1. Understand and Utilize the New Tax Credits
2. Consider Paying Points for Your Mortgage Transaction
3. Carefully Structure Your Real Estate Short Sale Transaction
4. Utilize the Special Options Available for Seniors Age 62 or Older.
5. Carefully Interview Your Mortgage Professional.
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Top Rising, Falling Housing Markets
When the recovery in housing finally comes, some housing markets will rebound sooner than others. Real estate forecasting service Local Market Monitor, which covers the nation’s 300 largest markets, has identified 13 markets where it predicts home prices will rise in the coming months and 11 markets where it expects home prices will continue to decline significantly.
To make these picks, Local Market Monitor uses a proprietary formula. Here are the 13 markets where it expects prices to rise:
1. Baton Rouge, La.
2. Buffalo-Niagara Falls
3. Dallas-Plano-Irving
4. Fort Worth-Arlington
5. Houston-Sugar Land-Baytown
6. Little Rock-North Little Rock-Conway, Ark.
7. McAllen-Edinburg-Mission, Texas
8. Oklahoma City
9. Rochester, N.Y.
10. San Antonio
11. Syracuse, N.Y.
12. Tulsa
13. Wichita, Kan.
Here are the 11 markets where it believes home prices will continue to decline:
1. Bakersfield, Calif.
2. Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla.
3. Fresno, Calif.
4. Las Vegas-Paradise
5. Miami-Miami Beach-Kendall
6. Orlando-Kissimmee
7. Oxnard-Thousand Oaks-Ventura, Calif.
8. Phoenix-Mesa-Scottsdale
9. Riverside-San Bernardino-Ontario, Calif.
10. Stockton, Calif.
11. West Palm Beach-Boca Raton-Boynton Beach, Fla.
Source: Local Market Monitor (06/23/2009)
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