My Blog

What to Expect in the New Year
By Jared
January 11, 2011

For starters, sales in New Orleans. You can finally start closing houses (case by case still of course) but should be up running 100% any day now. So you should see a peak in New Orleans home sales soon for sure.

Expect higher intrest rates from the record lows we had this past year in 2010. With home sales on a rise you can see banks wanting to also capitalize on that.

You may even expect foreclosures to stay on a high level but this year may be a little different. Banks may be more willing to look for a solution to foreclosure instead of actually foreclosing. 2 major cases was lost recently with the fight of banks improperly foreclosing on individuals. So, now this will cause banks to be more cautious to what they do which will make the foreclosure process take even longer. Expect banks to be more will to do a loan modification or the ever so popualr "Short-Sale". There are other option case by case that could also be worked out as well.