Home > Avid Law Center, Foreclosure > 2012 Outlook: No Bottom in Sign for OC Condo Market

2012 Outlook: No Bottom in Sign for OC Condo Market

Local Orange County real estate agent, Veronica Hicks of CondosEtc., doesn’t see a bottom in the currently OC condo market for at least several years. As part of an ongoing series, Jonathan Lansner for the Orange County Register interviewed Hicks on her thoughts for 2012.

Next year is the last year of the Mortgage Debt Relief act which may affect sales values. Hicks also says there could be another wave of short sales coming in 202 since we still haven’t seen the release of the foreclosures.

Because of this, Hicks expects to see more declines in prices because of a continued short sale trend.  2012 is the last year of the “tax-free short sale” with the expiration of the mortgage debt relief act.  If there are more short sales and the banks release more foreclosure inventory, 2012 and 2013 will probably offer the best deals out there.

Check out the rest of Hicks’ predictions on Lansner’s real estate column.

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  1. January 19, 2012 at 9:07 am

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