2012 Could Be The End Of The Housing Crisis In The Triangle Area

After many years of a struggling housing market in the Triangle Area 2012 may be the end of this housing crisis.   A recent report released by Capital Economics is predicting that the housing crisis will end this year.  They are basing their prediction on banks loosening their credit standards making home owner ship more obtainable to many.

The average credit score that most lenders are looking for to attain a mortgage at this time is at least 700.  This number is quite a bit higher than what we saw prior to the housing crisis. Mortgage lending standards are stabilizing and a credit score of 700 was similar to what was required last year also.  We are also seeing a loosening of credit availability among lenders. There are many lenders that are now lending amounts as high as up to 3.5 times the borrowers earnings.  This number is slightly up from the 3.2 times borrower earnings we were seeing.  Banks are also changing their loan-to-value ratios (LTV), this is the key indicator that Capital Economics is basing their prediction on a recovery on.

The ability to obtain your dream home in Glen Laurel just got easier, contact Rodney Geohagan.  The Geo Team is here to help you with all of your real estate needs.  Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late.  There are many questions about how the short sale process works, and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure.  Rodney has the answers and would love to sit down for a confidential review of your options.