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Hard For Many Home Owners To Sell Their House

Posted Wednesday, November 25, 2009

Research from First American CoreLogic came out today that showed more than 10 million home owners owe more for their mortgages than what their house is worth. Over 2 million other home owners are within five percent of breaking even on their home.

This should not be substantial new news to many but what the data does tell us is that we still have a long way to go to get the economy and real estate back on track. Especially when you figure many people will have to move from their current home just to find a job in another city or state. To me this means for short sales and REOs which push the prices of homes down.

I think now is the time for investors to purchase homes for long term (at least 10 years holding) from people who need to sell. There are many home selling solutions that work well for both an investor and a home owner who needs to sell a home.

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