Pre-Owned Homes Are HOT - Short Sale Fundamentals
 
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23
Apr

Pre-Owned Homes Are HOT

sales-rise-on-previously-owned-homesIt seems like people are taking better care of their homes these days. If you can believe the numbers, previously-owned home sales rose higher than expected in March. After three straight months of drops this is a welcome relief to the National Association of Realtors (NAR).

They’re even predicting a strong spring season coming up nationwide. Their chief economist actually went so far as to call this a “broad home sales recovery.”

Has this guy gone too far? Let me know what you think by posting a comment.

Sure, the surge in purchases was influenced by the soon-to-be-expired tax credit. First time home buyers accounted for 44% of all home sales in March.

But I think these numbers reflect an underlying cause. I mean, haven’t you guys out there noticed something when it comes to distressed houses over the last year?

They look awful!

I mean, people that are running away from their homes because they’re underwater on their mortgages or their property values are sinking just haven’t been taking care of their properties.

And there’s just nothing harder to sell than a home that hasn’t been treated right. So when we see numbers like this for pre-owned homes it’s gotta mean something.

Lots of government options for “fixing” the housing crisis seem to drive prices further down. But encouraging people to take better care of their homes helps in a much bigger way.

The study shows that 35% of sales were from distressed homes. The NAR admits that it’s the foreclosures that are starting go quickly.

So let’s make sure our clients understand the value they’re getting for their money when they take care of their properties. That, more than most other “solutions,” will help put the housing market back on solid ground.

Leave a comment and make your voice heard. Together we’ll make a difference.

  • scottdexter

    ARIZONA -1.6%.

  • http://www.licensedhomeimprovement.com Beveridge

    Realtors (God bless 'em) are optimists by nature!
    It seems to me we may have another year or so of letting the FedBank reduce their competition by controlling the R/E market. Good news is, after over a year of slowdown in my home remodeling business, it began picking up last year when my work became mostly for buyers of bank inventories. Profits are less and competition is more than in the past, but the money is out there for improving homes and second homes. My personal real estate portfolio got wiped out in this “repositioning” process, so anyone who wants to partner up with a licensed & experienced remodeling contractor . . . help me learn an easier way to rebuild my “retirement plan”. 800.926.0409

  • Diana Kelley

    Let's see if it gets better. They (whoever says this stuff) may be blowing smoke. It could be a teaser like they've been doing to us. In our little town of Grand Junction Colorado, one newspaper headline one day says real estate sales on the rise. The next day the same paper said our unemployment rate is 9.9%. Whose buying houses? If you can find a job here which is difficult there are 2000 or more people applying for the 200 jobs recently listed. I think when April 30th passes the last of the incentive for 1st time homebuyers and the buyers will disappear. We are having some of the best prices offered in the valley since 2002 but the cost of repair is extensive. And after our harsh and unusual winter we had you take your chances of buying a house with busted pipes especially on hot water baseboard heater houses. Some of them even have concrete floors. Good luck on those.

  • Gail

    Where are you located?

  • http://www.licensedhomeimprovement.com MIchael Beveridge

    Southern Calif. Big Bear Lake & Orange County. If the work merits it I will travel.

  • matthart

    I and my partner are real estate investors. We are located in Costa Mesa CA, between Huntington Beach and Newport Beach. We like the re-hab model and are doing that in Kansas City MO. Now we are looking f0r opportunities in So. Cal. If you like we can stay in touch…

    Matt Hart
    Stronghold Real Estate Investments Inc.



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