Negative equity is down and it’s about time. We’ve been waiting years for this one measure of the industry to catch up with the rest of the economy. Things have been looking up all year with underwater homes dipping closer to $1 trillion.
Once more people are out of underwater territory we’re going to see a dramatic shift in homeownership. Many people who’ve had bad experiences as homeowners are going to be looking to get out. And renters and 20-somethings will be eager to find a good investment.
I think there’s going to be solid business, both for the short sale community and the real estate industry in general. Make sure you’re keeping your finger on the pulse of your community. If you see opportunities, whether it’s under-priced houses or foreclosures, be sure to move in fast and hard.
I want to keep hearing success stories from all of you. It’s inspiring to see how together we’re changing the real estate landscape.