Palm Coast Short Sales: The Homeownership Rate continues to drop

By
Real Estate Agent with Grand Living Realty
Palm Coast FL – Barron’s Magazine recently had an article titled "Renter Nation." In it, they detailed the various factors at work that will reduce the homeownership rate in America. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The homeownership rate has already dropped from 69.2% to 66.9% today. Here is one of the factors Barron’s said would cause the homeownership rate to drop. Experts project that the average American Household will become younger over the next decade.

Younger households are more likely to rent versus purchase a home. However, the article missed another big factor. So many people have ruined their credit and can't qualify for a mortgage.

How many people in America are doing a loan modification, short sale, or let their home be foreclosed upon? It's hard to buy another home when that happens. Demographics, the lousy economy, and the credit disaster combined mean that demand for homes may stay low for a long time.

The positive news is that all of these factors have propped up the rental market. Rental rates are actually increasing in most areas, despite the slow economy.

I think one of the reasons this is happening is because banks are so reluctant to modify loans.

And, even thought rental rates have increased, they are usually lower than owning a home bought at the peak of the market. Thinking about a short sale?

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I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Eddie@real386.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 386-931-9127

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Palm Coast loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Eddie Marcal.

Eddie is a Real Estate Agent at Watson Realty Corp. Palm Coast Short Sales Realtor: Phone: 386-931-9127. Eddie@real386.com.

View My homes for sale at www.real386.com.

Eddie Marcal specializes in loan modification assistance and short sales in Palm Coast Florida. Palm Coast Loan Modification Help, Palm Coast Short Sales. Palm Coast Short Sale Realtor. Flagler Beach Florida Loan Modification Help, Flagler Beach Florida Short Sales. Flagler Beach Florida Short Sale Realtor. , Palm Coast Short Sale Realtor. Palm Coast FL Short Sales. Palm Coast Realtor.

Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Eddie Marcal's personal views and do not reflect the views of Watson Realty Corp.

This information on Palm Coast Short Sales: Why Should I Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.

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