I Short Sale, Inc. Issued 2008 Real Estate Market Prediction

Woodland Hills, CA (PRWEB) November 29, 2007 -- In an effort to enhance the education of customers, the media, and the real estate industry as a whole, I Short Sale, Inc. (ishortsale.com) today released their market prediction for 2008. "We have seen residential real estate prices continue to decline in most states. In some cases, such as Nevada and Florida, the decrease has reached as high as 35 percent. It is our belief that due to expanding inventories, tighter underwriting guidelines, decrease in buyers confidence, as well as the cost of living increase, this trend will continue well into next year," stated Eli Tene, President of I Short Sale, Inc.

Tene goes onto assert that he expects residential prices to drop an additional average of 20 percent in 2008, and commercial prices to follow by a 10 to 15 percent drop. "Americans are living on borrowed money right now. You read the reports on increased credit card debt, sluggish wage increases, resetting ARMs, and rising transportation costs. Homeowners are being squeezed into submission with nowhere to turn. This has macroeconomic implications that all point to further reductions in the median home price."

According to Bloomberg.com, roughly 40 percent of U.S. lenders have raised their standards on mortgages for prime borrowers and 60 percent have reported stricter guidelines for non-traditional loans. This comes in the midst of a record breaking number of ARM resets which could severely damage the US economy. "Lack of available financing started in the residential sector, but we have seen it slowly creep in the commercial front, with declining sales of 1.2% from August to September 2007," stated Tene.

As lenders have become more hesitant to put money out, the subprime meltdown is spilling over into new frontiers. "The stock market continues to head south, major retailers have adjusted their forecasts due to credit concerns, and tourism is slowly subsiding, all directly resulting from the real estate market declines. Further reductions are inevitable, but we are helping homeowners, realtors, and lenders alike weather the storm."

Raffi Tal, COO of I short Sale Inc. (Ishortsale.com) adds that short sales in 2008 will break all historical records: "A Short Sale is the only real solution good for the lender and for the property owner. Our direct communication and good relationships with the lenders makes us the leaders of short sale processing in the country".

I Short Sale has been assisting distressed property owners and industry professionals by offering mutually beneficial solutions in these difficult times. "We help borrowers save their credit, realtors earn a living, and lenders maximize recovery by coming to agreeable terms in debt relief and marketing these distraught properties properly," claimed Tene.

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