Steps to Protect Real Estate Buyers

Housing Predictor explores the new steps consumers need to take to protect themselves buying real estate in these increasing troubled economic times.

Destin, FL (PRWEB) May 5, 2008 -- In these troubling economic times Housing Predictor explores the steps consumers should take before jumping into buying a home or other real estate, outlining the six steps everyone needs to take to protect themselves.    

The 6 steps to take to buy in a down market bring meaningful information that everyone should be aware of in these increasingly recessionary economic days. Location, location, location has long been the cry in real estate, but with the fallout from the credit crisis a new series of issues is developing.

Housing Predictor is an independent online real estate news provider, which forecasts housing markets in more than 250 local housing markets in all 50 U.S. states.

Slammed by the subrime crisis and Congressional lawmakers' failures to deal with the nation's economic crisis, the over-whelming majority of real estate markets are seeing their housing values fall at accelerating levels of deflation. Only three states now have enough appreciating markets to remain on the Housing Predictor appreciation list, which is an all-time low. All three are teetering on the edge of being removed from the list as sales in all three states show signs of slowing.

The credit crisis was triggered by Wall Street bankers gaming the credit markets in conjunction with mortgage companies and banks, which developed new creative mortgages to sell to consumers at any cost. The crisis has set off alarms in the banking industry, triggered a series of law enforcement investigations into the propriety of developing funds to fill the mortgages sold by the bankers and resulted in class action lawsuits against dozens of mortgages companies and banks by consumers.

More than 2-million homes and other properties have already been foreclosed in the crisis and Housing Predictor forecasts that more than 5.6-million foreclosures will occur through 2011 unless major federal actions are taken to aid homeowners caught in the web of foreclosure. The foreclosure epidemic is increasingly making negative impacts on cities and communities throughout the nation.

To find out how you can protect yourself better in these times of economy uncertainty visit http://www.housingpredictor.com

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