While it is true that foreclosure rates are increasing, it is mostly as a result of foreclosures that have been in the system but not yet on the market for various reasons, one of which was the "robo-signing" issue that had now been resolved. This foreclosure inventory is something that our market, like others, will have to work through.
The very good news is that the sales numbers from February 2012 are up. The number of sales closed are up as compared to Januray 2012 and as compared to February of last year! This is very good news. I can tell you, from my perspective as a professional real estate broker, the market is busier now than it has been in years! If everything continues at the same rate 2012 will be a very good year for real estate! I would expect prices will be consistent for the next 12-18 months with the prices beginning to increase at a healthy rate as we clear through the current available inventory.
I encourage WWAY to contact me for all of the details. :)
Ashley