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Existing Home Sales Rose in October

Posted Tuesday, December 6, 2011

In October, existing home sales rose 1.4 percent. This is an indication of smart buyers that are taking advantage of the great rates and listings. If you want to sell your home, now is the time. This is why.

The Past: The inventory is decreasing. That means that you have a far easier time selling your home now than before. The inventory of available home is dwindling. That is great for homeowners that are looking to sell. The complete inventory of homes that are available decreased from 2.2 percent to 3.3 percent. This decrease is good news for all existing homeowners. The future looks bright for sales.

The Future: Short sales and foreclosures are down from September. The only issue is that people are having difficulty gaining loan approval. This only applies to those people that are trying to get home loans. The buyers that pay cash, mostly consisting of investors, are buying homes fast. This means that any existing homeowner that wants to sell their home, will be able to do so very easily soon.

How to Find Buyers: If you are interested in finding cash buyers, then you should look in the public records division of any municipal court. Each county has listings of the recent home purchases. You will be able to see who bought homes using cash. These cash purchases are a good indication of wholesale buyers. They tend to be an excellent source for buyers when loan buyers are at an all-time low. They do tend to pay less than loan buyers would, but they are still an excellent source for buyers. Many homeowners are listing their homes through these buyers who are able to sell their home if they don’t chose to buy it outright. No more asking the realtor, "can you sell my house?"

Projections: The projections for 2012 are good. The market should improve significantly over the course of 2012. This comes from (Reuters: Washington, November 28, 2011). The article projects that the market bottomed out this October and will continue to improve form there. That is excellent news for those existing homeowners asking: “can you sell my house?” The time to sell your home is coming soon. If you have been in a financial crisis because you need to sell your home, then you are facing a bright new year for your finances. Most would agree that this is excellent news for those that are talking to their real estate agents about selling their homes.