Generally, what do you think the real estate market is going to "look" like 12 months from now. Why?

The market took a hit and now it is a buyers market foreclosures are on the rise and expected to keep rising. Without a Great FICA score people are going to have to rent because the secondary market is not going to recover anytime soon. Being a landlord would be a great occupation to get into.

I have to agree, it was easy to make money during the BOOM even if you were dumb as a rock (and most new agents were) but now that they have left the industry those of us that have "done it for a living" for the past 10,15,20 years and make it a point NOT to screw our clients can get back to work and try to clean up this mess that they caused so you people can move on. I'm making a killing in all areas that the FNUGYS never knew existed these days... but we will defiantly not be able to clean up in 12 mos what took 6 years to make a mess of.

Based on the fact that the housing market was on a tear for several years, that the fallout from the subprime mess is still in process and no one is sure when the end will come or how much it will cost, that the credit market is very tight, that housing inventories are at record highs, that the economy is looking set for a recession: looks like a tough twelve months for the housing market, not to mention the economy in general.

It will vary by region. In the northeast and pacific coast, it'll still be a mess. In the midwest and south, 12 months may be enough time to clean up the mess from the bubble, because the bubble wasn't as bad in those parts of the country. Unemployment may go up slightly, but pay won't decrease much at all. There will be doom & gloom, but when hasn't that ever been the case?

I see no change in 12 months. Real Estate purchases now require bigger down and excellent credit which equals less buyers than in the past. Once you see all the for sale signs start going away, thats when its a good sign that the real estate is ready to recover. A recovery will not be a fast one. This year will have the biggest blow because Bush's Mortgage Tax Relief ends after 2009. It takes about 9 months (Give or take) to foreclose and everyone wants to be within that timeframe; therefore, houses will start to go under distress by mid summer. As foreclosures will be carried over to early 2009 the bleeding may stop by mid to late 2009. The bad thing is, I know someone who are on a "Fix" mortgage who are bailing out because of being upsidedown. Imagine other circumstances? Other people got it worse. It definately doesn't look good projecting 12 months from now. People won't see equity for awhile unless the free market gets regulated and that is another topic. This whole thing can change, but the government definately got to play it smart and not give out rebates which is useless in today's market.

Depends on what side of the market you're on. For me, the market is great right now, and getting better. Real Estate is at a great discount, this is the time that people get rich in real estate. Buy, Buy, Buy

It's the financial sector (banking particularly) that is in bad shape. But, property across this country is vastly overpriced and the real estate market will be severely depressed. People who have bought property within the last ten years or so are going to find themselves with homes worth a very small fraction of their purchase price. This in turn may cause a drop in property tax revenues which will be felt most strongly in the area of state workers, welfare recipients and their support staffs, and particularly teachers and special educators. (That's where the cuts are happening here, anyway) I don't expect anyone graduating this spring looking for a job in education will be able to buy one at any price. To become a teacher next fall, you'll probably have to do what Josh Hartnett must have had to do to become a movie star!

The market will fall then stabilize as employment picks up. Employment will increase as the falling dollar makes our exports more attractive and makes people buy American goods as imports become more expensive. The combination of higher employment and low interest rates will help the housing market.