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Real Estate Market May Rebound around Year 2025
Sunday, June 12, 2011
Some very bad news as been coming from the housing industry. Everyone has been hoping the market would rebound this year, but it seems another round of foreclosures are in the works. With foreclosures, come short sales and that is what is causing all the low prices. No one wants to hear this news. Homeowners have been waiting for the past four or five years to put their home on the market only to realize, the longer they wait, the lower the price. The price of houses has made a bigger drop then it did in the great depression. After the depression, it was many years before housing prices began to rise again. So, when should someone put their home up for sale? Should they continue waiting?
The answer will depend on the situation the homeowner finds himself in. Sometimes people have had a job
change. With the declining real estate market and slow economy, many breadwinners have had to look for other ways to support themselves and their families. They may have had to take a big drop in their income. Making large mortgage payments could be difficult. Some families are just outgrowing their homes. Children need room and every time a new one is added to the nest, a bigger space could be required. Divorce often causes problems with homeowners. Two homes are need instead of one and selling the original family home could certainly make life a lot easier.
During the nineties, it was easy to sell a home. Just put a sign up and wait for the buyer to come along. They often did in a few days and certainly not longer then a month. Sellers got the prices they were seeking and buyers could enjoy the home they were looking for. Not so, in the present market. Homes can be on the market for several months and then never sale. The prices are so low and many people feel they can’t afford to sell, even though they need to move. They wait and wait and hope the market will pick up. The problem is that they could wait for several more years.
There are investment companies that help homeowners with these problems. They buy homes for cash and give the homeowner a reasonable price so they can move on with their life. If you think that could be the answer for you, look under the heading of We buy houses and see if you can find someone in your area that could help you. It is often possible to close in a couple of weeks. We buy houses ads are really legitimate and should be considered. So take a look at the companies that advertise they can help you sell your home. It could be just the thing you need. Don’t wait for the economy to rebound. You may be waiting a long time.