2010 - The year that Real Estate makes and upward turn?
By Mark Watson, The Watson Group
(The Watson Group)
Now that 2009 is practically behind us, we know that the real estate market took a downward turn and has remained that way for the last two years. Economic indicators are showing that 2010 may be the year that we see the market improve. Nationally, home prices have pretty much stabilized but some areas are still experiencing bank foreclosures and unemployment is still around 10%. Charlotte's unemployment is around 7% so we're beating the national average. Our home prices fell over the last two years but in looking at the big picture, our values have not taking a beating like many real estate markets across the country. There's a few factors that may help the market for 2010. One being that interest rates are still in the 5% range but they are expected to rise in the new year. Al...
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