Friday, March 2, 2012

Interview with Mortgage Guru Bill Rayman Part 7: Real Estate Outlook 2012

What is your outlook for the real estate market in 2012?
I deal with property around the nation, but the bulk of my activity is Los Angeles and California. Although the better properties and / or better areas have maintained themselves, home prices in most areas are still declining. This makes it a buyers’ market. It’s a great time to buy. When prices stop declining, people sitting waiting for prices to be the lowest are the ones who lose out. Once prices start to go back up, sellers are no longer eager to sell and it becomes sellers’ market.
Now is an extraordinary time for people to buy. Do I think the market will turn around in the next year? No, but I expect the Los Angeles market to rebound in 2 years. What I tell people is: I’m not a real estate expert. I know real estate finance. I know how to makes things happen. I know how to get people the financing they need. Part of my value is that I have a group of experienced, knowledgeable real estate brokers—each knows their geographic slice of the market. Ask me about real estate, and I’ll happily refer you to an expert

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