The first moments of 2011. The fireworks are lighting up the sky. The firecrackers are blasting the air, and people are cheering, shouting. Cars are blowing their horns. Neighbors are shouting greetings.
The year 2011 will again be challenging for the real estate market, according to analysts. Yes, indeed. But we’re marching with great hopes amidst the challenges.
We already know the negative forecasts; we’ve heard all about them all year. And we’ve prepared for them. So to fill our minds and hearts with the pleasant things on the first days of the new year, let’s enumerate the more positive predictions:
Barbara Corcoran, founder of Corcoran Group, considered the biggest residential real estate enterprise in New York City, in an interview with AOL Real Estate, said that 2011 will be a great year for real estate:
“You have low prices and low interest rates at the same time. You know, in 30 years in the real estate business, we have never had that happen. So as a result, you could buy any home to your liking, and get it a third off on price and a third off on interest rates.”
From Warren Buffett, the Oracle of Omaha,
“…but for every seller or lender hurt by this there will be a buyer who benefits. Indeed, many families that couldn’t afford to buy an appropriate home a few years ago now find it well within their means.” Buffett stated that in the early months of 2010 that the housing market’s problems should largely be over this 2011.
From Paul Bishop, vice president for research at the National Association of Realtors, in a talk with AOL Real Estate:
“Although there are many changes that would make 2011 better than 2010 for the residential real estate market, the single most significant change would be a better functioning mortgage lending environment.”
Neuberger Berman’s real estate fund managers said on Barrons.com that commercial real estate investment trusts will continue to grow substantially in 2011.
Ian McCarthy, chief executive officer of Beazer Homes USA Inc. which specializes in entry homes, expects the number of single-family home starts to rise in 2011.
Robert Niblock, CEO and chairman of home improvement retailer Lowe’s Cos., said that he’s been seeing a gradual improvement in the fundamental elements of the housing market.
Patrick Newport, housing economist of IHS Global Insight, said that he and fellow economists expect home sales to become better because of expected improvements in the economy and the stabilization of home prices.
Even Lehman which has been languishing in bankruptcy for two years is seeing the light in 2011. The value of it’s prime properties has been rising, and it hopes to sell them in 2011 to be able to cut its debts.
Sure, there are still problems in the residential real estate sector and in the economy, but as expressed by successful people like Normal Vincent Peale, we “Go forward confidently, energetically attacking problems, expecting favorable outcomes.”
A Great New Year for Tampa4U.com!