According to some experts, over the next few years the market will be characterized by extremely high volumes of alienation of objects, rising interest rates on mortgages and a large number of unsold houses and apartments. However, for Russian buyers, there may lurk possibilities.
Rick Sharga of RealtyTrac research firm suggests that full recovery of the market should not be expected until 2014. This year, he said, more than 3 million homeowners will be notified about the possible eviction from their facilities for the debts on the mortgage. Over 1 million homes and apartments will be alienated.
Director-General of the portal Trulia.com Pete Flint believes that the 2011 will raise mortgage rates, which adversely affect the demand and limit the availability of housing. Prices for the whole country will fall by 5-7%, according to MSNBC.
According to a survey conducted by Harris in November of this year, about one in five respondents said that the recovery of the housing market should not wait until 2015. Most of the respondents believed that it will happen in the years 2012-13. Prospective buyers say they hardly dare to purchase the house for at least another two years.
In this case, those buyers who are willing to take risks and buy the object, alienated by the owner for the debts, can receive a discount of approximately 30% relative to the price of a comparable object that has no history of seizures.
This information might be interested in the Russian buyers who have cash to purchase real estate abroad, since it is people with "live" money give preference to U.S. banks that sell the excluded items.
Note that, according to its own research portal Prian.ru, in October, the U.S. ranks sixth in the list of countries, real estate in which the Russians are interested in most.