REO / Foreclosures- Who Are The Real Buyers Anyway? Cottonwood CA Homes For Sale
Interest in buying foreclosed homes has dipped among average buyers, a survey by Trulia.com and RealtyTrac shows: Interest on the part of 43 % of average American buyers reveal they would consider purchasing a foreclosure. This Reflects a downward trend of 12% from May's survey results. Cottonwood CA Homes For Sale
BUYERS WHO WON'T BUY REO/FORECLOSURES CITIED:
- Hidden costs was the No. 1 reason cited for wariness toward buying a repo in the November survey, which was released this week,
- Risks and loss of value.
BUYERS WHO WOULD BUY REO/FORECLOSURES WERE:
- Investment property or second home buyers, 92% are at least somewhat likely to buy a foreclosure.
- 57% of adults ages 18-34 are at least somewhat likely to consider buying a repo’d home,
- <25% age 55 and older.
- Current renters (57%) are more likely to consider buying a foreclosed home than current homeowners (38%).
- 50% U.S. adults single/never married possibly consider such a purchase.
- 40% of married adults
FORCLOSURES PROVIDE OPPORTUNIES FOR:
- Renters to become first time buyers,
- Investors seeking bargains
- Families to trade up to larger homes
It is our opinion that REO's and Short Sales can represent bargains, but not all buyers are suited to pursuing these properties. An experienced REALTOR can assist you in assessing the risks and benefits to pursuing today's real estate bargains in the North State.
source: CAR Market Matters
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For Buyers & Sellers Seeking Additional Information on Cottonwood CA Homes For Sale Contact:
Phone: 530-347-6122 Email: steve@chainrealestate.net
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