Badges Properties LLC Fix-It Brothers

House Selling Trends

The housing market is riding a roller coaster and its going crazy.  The ride is slowing down, but with the foreclosure market being on the same ride it seems to be just as crazy.  The houses in certain parts of the country are dropping in price and values are just not there anymore.  The problem is what happens when the house is at a retail value which is less then what a person owes on it?  The banking industry across the country is asking itself the same question this year more and more.  They have become a home sales industry instead of a bank.  The banks are finally at the point that they need to just get rid of the house surplus that they have.  Even just 3 years ago the banks had foreclosures but they didn’t really care how long they had them.

The banking agents that were in charge at that time were not a priority position.  The idea was these people can not hurt anything anyway so just let them handle it.  The agents would take forever to respond to any type of offers, many times letting the potential buyers get frustrated and just walk away.  They just didn’t care what really happened.  Now, they have such large amounts of houses they don’t even know which way to turn.  They are now paying more attention to the people who deal with the foreclosures more closely and now trying to guide them and educate them in working with buyers and help to sell houses, instead of the uneducated, don’t care, type of person from just 3 years ago.

Now, the houses on the foreclosure lists have prices that are reflecting that they need to be sold.  There are so many houses and not enough buyers any more.  They need to sell off these houses and they are getting houses into foreclosure inventory twice as fast as they can get rid of them.  The investors of today can find some real buys already, by mid summer the houses will be at even better prices if things keep going the way the are now.   The houses will be at all time lows as far as these types of houses go.  The person with a certain amount of cash in hand will be able to reinvest into discounted properties.  The old saying timing is everything is going to come into play.

This trend is going to affect the whole housing market this year.  The buyers for traditional house buys are expecting a house to be in perfect shape.  The house which is not in perfect shape will have buyers with approved loans walking away from it.  Even if the home owner is giving money back for updates and repairs, it is to little, to late.  The buyers don’t want to take the time and effort to fix up there new house, unlike the buyers of just 3 years ago.  The person who really wants to sell their house needs to understand this.  The home owner who does not get this will be left with staying in their current house,  hopefully not already having purchased or built a new house.

Watch the house selling trends.