Happy New Year All! I took 3 glorious weeks vacation. 2 weeks were spent in Maryland at the family home and 1 week at the cabin in the Sierras. Each place had beautiful snow. Now, I’m back in damp Alameda and I think it’s colder here than either of those two places!

Everyone is wondering what 2010 will bring for real estate. I’ve already received calls asking what I think will happen. Seller’s aren’t going to see any dramatic price increases. Buyer’s are going to continue to enjoy the lower housing prices. If you really want a deal I would suggest jumping on something this month. Homes that didn’t sell over the holidays are dropping their prices. There’s not a lot of homes for sale but the prices are good. You can expect to see the typical increase in homes in early spring as well as the slight increase in prices.

Loans and interest rates are a bit troublesome. Banks are still reluctant to lend money, even for those with great credit. Loans are taking longer to process because the Loan Companies are going over your credit with a fine tooth comb. You can expect interest rates to go up, too.

Here’s a great article from Realty Times regarding what to expect in 2010: Real Estate Outlook: 2010 Stark Contrast to 2009

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