Reductions in property values have many homeowners’ equity position to negative levels, and returning to break-even will require several years. A significant portion of these homeowners will walk away from their homes, even when they have the financial means to make the payments. Most homeowners will take up to at least five years to return to break even value.
Apartment investors are benefiting as residential defaults continues and homeowners become renters. Metropolitan areas undergoing the most severe home price reductions will be subject to the longest delays in a market recovery.
Those that are stable and currently searching for a second home are strategically position to pick up a sound investment. Low prices and interest rates makes current market conditions perfect for purchasing the vacation home that was previously unaffordable.
About Me
- Maria E Brackett
- Hialeah, Fl, United States
- Serving the South Florida Market since 1974. FIU BBA 74 and MSM RE 78. Miami Association of Realtors 2011 Governors Board of Directors. Largest Realtor Board in the Nation. Northwestern Dade Association of Realtors 2007 and 2011 President. Florida Realtors 2006-07, 2010-11 Director. Member of the National Association of Realtors. Owner - LandPro International
ELAN Construction, Inc.
Great General Contractor
Tactically Sharp, Inc.
NRA Certifed Instructor
Homeland Security
Advisory System
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