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Coming year to be positive for real estate industry

 

Last updated 12/27/2012 at Noon

In the coming year, housing prices will rise and foreclosures will decline, thus increasing the amount of short sales.

In 2012, we saw the continuation of the housing recovery in California with solid sales volume and price increases throughout much of the state. In addition, many were helped via loan modifications and short sales from being underwater on their homes.

Several have said that this recovery is artificial. There is no question that government intervention played a major role and will most likely continue for the foreseeable future. The biggest change in 2012 was the dramatic decline in foreclosure sales. Per ForeclosureRadar.com, over the past 12 months, notices of default plunged nearly 50 pe...



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