It is predicted that in 2011 the number of borrowers with negative equity will be doubled. At first such predictions seemed to be too cardboard. However, taking into consideration that many mortgages have not reset, they do not seem farfetched any more. Of course, the situation on the real estate market has been improving mainly due to the governmental support and various incentive programs introduced by it. These programs help buyers to solve financial problems in order to buy the real estate property. The first-time home buyer tax credit is one of these programs. Due to it the real estate buying capacity increased over the past summer and it is likely to stay at the same high level till the date when this credit expires, which is April, 2010. This program has helped many people to purchase the long-awaited property, however it was not a cure for the real estate market and the economy in general. There are still too many mortgages which are to reset. Besides, the unemployment rate is still increasing which shows that this credit has drawn attention from the unhealthy state of economy only temporarily. Some experts think that due to this situation the real estate prices will not rise just yet.
For the borrowers who are to pay for the bought real estate and who cannot make these payments it does not matter if the prices rise or fall. If we analyze the real estate market over the past few decades, we will see that the change of real estate prices is gradual and cyclical. One cycle is 7-10 years. The same is not true for foreclosure cycle which is fast and as a rule takes less than one year. Thus, borrowers in default find themselves in a difficult situation.
If we are to consider the factors influencing the fall of the real estate prices, we should name the following:
1. Neighborhood with high rate of foreclosures. If you find yourself living in such a neighborhood, it is high time to change it; otherwise you may end up underwater. It is akin to domino effect. Once this process is started it is very difficult to stop.
2. Homes which are on the market for a long period. If the home is up the market for more than 3 months and receives no offers that is because buyers and sellers cannot reach an agreement about the price. The only way out of this situation would be to lower the asking price of the real estate.
3. Growing rate of unemployment. If the buyers are afraid of losing the job, they are more likely to withhold form buying property. This forces the sellers to lower the asking price.
4. Poor condition of homes. If the condition of the homes in the neighborhood is bad, the prices will eventually go down.

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