Buyers don’t want seized homes
A new real estate survey shows that consumers are less willing to buy foreclosures, which could prove problematic in 2009, when a new wave of home foreclosures is expected.
The survey from real estate search firms Trulia and RealtyTrac Inc. noted:
Three in 10 adults expect at least a 50 percent discount when buying a foreclosed property.
Seven in 10 adults anticipate a 25 percent discount.
Negative sentiment associated with buying foreclosures — concern about hidden costs, risk and loss of property value in a declining market — rose from 69 percent to 80 percent in the past seven months.
“What’s significant about our findings is that just as the market is being flooded with more foreclosures, home-buyers are more hesitant to buy them,” said Pete Flint, co-founder and chief executive of Trulia, a home real estate search engine.
Full Story Buyers don’t want seized homes
Posted by Carlos Sagastume on December 19, 2008. Filed under HUD Homes.
You can follow any responses to this entry through the RSS 2.0.
You can leave a response or trackback to this entry
Recent Comments