1. There will be a dramatic increase in those jumping on the bandwagon to blog about real estate.
a. Many of these will resemble “splogs” due to their blatant attempt to build business, rather than build reputation, knowledge and relationships
2. Home sales and prices will continue to rise at a more “normal” level – perhaps a 5-7% increase in value YoY rather than 15-20% increase in value. This qualifies as a “good thing.”
3. There will be fewer “discretionary” moves and “move-ups.”
4. Realtors will continue to compete with themselves, technology and change.
5. Competent representation of home buyer and sellers will gain value, and understanding by both Realtors and consumers.
7. The real estate market will be just fine, but there will be significant pain for those who chose Option ARM mortgages, and some who chose Interest Only.
*Will we start calling 2007 “twenty-oh-seven” or stick with “two thousand seven”?