Buying Homes and Eager Owners
Just because an owner’s home has been on the market for close to a year, does not mean that they are looking to seal the deal and let you take off with a much lower price than they initially planned on receiving. Other factors definitely come into play, or these “owners” may have a great supply of income and not be reliant on selling the home immediately because it is a long-term investment they made and the money made from being sold isn’t going anywhere but a bank account. According to the National Association of Realtors, there is a nine month supply of unsold homes on the market. Less than six months would mean that the market is tightening and therefore prices will rise whereas anything over six months defines a surplus in which prices generally lower. However, these surpluses differ greatly from lower-end to higher-end homes as well as price differentials and regions. Visit Portland Mortgage Company to get some nice facts and tips on mortgages and more.National Association of Realtors, mortgages, long-term investment, owner’s home, higher-end homes
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