You hear across the US that the Real Estate Market is in bad condition. Well according to statistics the Upstate has not suffered like the rest of the country. And yes, we are still selling homes. But it has been proven to be somewhat of a buyers market. Part of the reason for the High Foreclosure Rate is because of the media and somewhat of the economy. I disagree with the media that the economy is in a "bad" state. It is not in the best state but we can change that with education. For instanche, we have all heard of the foreclosure epidemic, but no one has heard of the car repossession epidemic. That's because there's not one. I talked to some of my clients the other day in the local upstate market who were car salesmen and they stated, that they each have made $40,000 this year so far. It's April, the year is not even half way over. What does this tell me. It tells me that people aren't hurting bad enough to quit buying new cars. And people aren't losing their cars.
One of the main reasons people are getting foreclosed on, is they did not have proper information before buying their home and did not do the proper research to make sure they could afford it. Some people just bought into the media frenzy, Oh there is no help for you, you have to foreclose. Banks generally don't want to foreclose on people, so there are options. Sometimes they will defer payments or help you out with different payment plans. And then you can always sell your home and downsize into something you can afford. We as realtors need to strive to educate home buyers before they buy a new home and make sure they understand and can afford what they are getting into. I do strive to do this in my daily business. And it has paid off, so far everyone I have sold a home to over the years has not been a victim of Foreclosure. I try to keep in contact with all of my past clients, this is how I know this information. It's always good to talk to them, because now my business is 90% referral from past clients!
For more information about education for buyers click here to be taken to our website, UpstateResults.com.
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