Company will maintain commitment to empowering agents in a vastly changed market
Consumers are likely to see a flat to improving housing market in 2012, while the possibility of more construction could have a positive ripple effect on the economy in Southern Calif., according to Cameron Merage, founder and CEO of First Team® Real Estate.
First Team is California’s top-ranked, independent, non-franchised real estate firm. Merage made his 2012 predictions during a recent interview by local real estate reporters.
Asked how industry insiders will view 2011, Merage said that it was a time when the market started turning the corner, when prices decreased by a smaller percentage and fewer homes went into foreclosure than in the previous three years. He urged readers to think about what the market will look like in 2013, since the possibility of an economic rebound in 2013 could offer
opportunities to those who got a jump start on the market this year.
An influx of REOs and short sales could delay recovery, Merage warned. While the federal government continues to struggle with the question of what to do with the inventory of foreclosed properties that are pushing market prices down, he said the good news is that almost everyone in the political discussion agrees that getting the housing market to a point of stability or growth is important for the general good of the economy. Southern California’s desirability increases the likelihood that recovery will happen here sooner than elsewhere in the country, Merage said, even if he does not expect to see the type of price increases of the mid-2000s anytime soon. To accommodate this vastly different market, First Team will continue its commitment to coaching and training its agents to make them skilled in the ever-changing market and to empower them to deliver the highest level of customer service and value.
For more information on how First Team can help you with your real estate needs, call 866. 748.4982.
Cameron Merage, founder and CEO, First Team® Real Estate