Foreclosure sign taped to a front door.
Home foreclosures are starting to fall and are expected to fall in 2010. According to a Ross School of Business research professor, Dennis Capozza in 2010 foreclosures will start to fall after rising more than 30% a year for the last four years. Nationwide foreclosures will drop from a peak of about 2.75 million this year to 1.75 million in each of the next 2 years before falling further to less than 1.5 million by early 2012. According to Capozza "improving national and local economic conditions—a reviving economy, slowing house-price depreciation and tighter underwriting of recent loan vintages—will help stem the tide of foreclosures." He also says in seperate research that the unusually high level was caused by economic conditions as well as underwriting quality. Right now the real estate market is already showing signs of improvement, with shrinking inventory and firmer prices (that are trending up!) the news is already encouraging. This is definitely exciting news for Ann Arbor Real Estate as well as the rest of the nation! Click here to search Ann Arbor Real Estate using our complimentary Ann Arbor Real Estate MLS Search service. Alternatively please contact Kathy Toth and the team if you need more specific assistance in your Ann Arbor Real Estate needs. Find out what your Ann Arbor Area Home is Worth Search all listings in Michigan with pictures and tours...Free! Your Home Sold Guaranteed Kathy Toth & Team: Ann Arbor Area Real Estate Experts www.KathyToth.com Ann Arbor Market Center Keller Williams Realty