We found a recent article in BusinessWeek to be very interesting: it peers into the future for a potential glimpse of the housing market in 2012. If you’re like most people, even sitting down to read a magazine these days can be tough to squeeze into your busy schedule. Since the topic was close to the heart for us, we’re taking this week to summarize the findings for you. Real estate, up-close…and personal.

• Blissful boredom? The article anticipates that 3 years will return our housing market to a state of normalcy, where prices aren’t dictate by the credit crunch and inventory levels are back to normal. A buyer/seller neutral market.
• Prices? BusinessWeek advises to look for about another year of decreasing prices and then a more controlled appreciation rate.
• Other factors affection appreciation? More important will become the less-discussed factors of home ownership. What is the potential for growth in the local job market? How close is the supermarket? How’s the neighborhood? What is school quality like?
• What could still go wrong? While there is great potential for a correction to normalcy in the housing market over the next 3 years, there are still factors that could affect recovery. People choosing to stay out of the market and/or home building could remain stagnant, both having potentially adverse effects on the housing market.

As always, if you have any questions, we encourage you to reach out to us and ask, ask, ask! As long-time residents of the San Juan region of Colorado as well as our decades of experience with real estate as a whole, you can bet that if we don’t have the answer, we’ll happily find it for you!

The Staff at San Juan Realty, Inc.