Yearly Home Price Gain Predicted by Wall Street Journal

According to the Wall Street Journal, the country’s home prices could be on tract to post a yearly gain for the first time since 2006.

Foreclosures have and are continuing to become less and less relevant in the market causing prices to begin rising, in some areas. The foreclosure inventory is down almost 20% over a year ago. REO (real estate owned properties) is also down. These are the homes that have been repossessed by banks through the foreclosure process. Many experts feel that the main driver in pushing prices up for 2012 was the decline in REOs and that 2013 prices will be driven more by lack of inventory.

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MAXWELL@BOSTONLUXE.COM • CELL: (617) 543-7754 • OFFICE: (617) 267-4600 Maxwell Burke began his real estate career nearly 20 years ago doing appraisals with his father in Southern California and Northern Texas. He grew up in a family environment so oriented towards investment and real estate that to call his upbringing entrepreneurial would be a disservice. From his grandfather's multiple developments ranging from British Columbia down into Southern Mexico to his uncle's holdings in Portland, Oregon, Maxwell has been given a view not just of Boston real estate, but of American real estate. Maxwell and Drew Abysalh met in 2009 and increasingly consolidated their business models together culminating in their partnership in 2011. With over 300 real estate deals under his belt ranging from a standard rental to a $1.5 million condo conversion, Maxwell is a tremendous resource to help you realize your real estate dreams. Welcome to Boston Luxe - it's a pleasure to meet you. Google