The United States Census Bureau has reported that the United States is currently experiencing the highest vacancy rates on homes in over 50 years.
Over 2 million homes were sitting empty in the first quarter of 2008, as reported on Interest.com. That's almost 3% of all homes in the United States. Many of these homes are properties that are short sales; the owners have made an arrangement with their lender to sell them for less than the mortgage balance. Other vacant properties are sometimes bank foreclosures.
These empty homes are providing attractive buying opportunities for buyers. Some are being negotiated with favorable financing and lower prices. Many banks are getting more and more of these properties on a monthly basis, thus it behooves them to be negotiable. Unfortunately, not every bank is agreeable to favorable terms.
Here in Brevard County Florida homes being offered by individual owners can sometimes be favorably negotiated, depending on when the owner purchased the home and the owner's current mortgage balance. Homes purchased 5 or more years ago, here in Brevard County can often be purchased for competitive prices. A vacant house can often times signify a highly motivated owner. However, if owners are still holding out for 2005 prices, they may eventually be just another short sale or foreclosure statistic. As, those prices are a thing of the past.
So, if you're thinking of buying a Brevard County Florida Home, keep your eyes and ears open. The deals are out there. Educate yourself to the market and get your financing in order. So you are ready to proceed ahead when you find the "right home".
Visit my website at www.SandyShoresMelbourne.com and go to the search the MLS page. Look for Brevard County Homes for sale.
that for you
Sandy -
Incredible Name for selling real estate in Florida - but I'm sure you've already heard that, perhaps many, many times!
This is a fantastic time to buy in many markets - but we have to make sure these potential buyers can get financing. Often times, therein lies the rub!
Call or stop in anytime!
DEAN & DEAN'S TEAM CHICAGO
Interesting stats... Can't wait to see those homes filled with new families!
Hi Dean, I have to tell you, I was born in Cook County, Illinois. You're from my hometown! Yes, I have in fact heard that many times! But, I never get tired of hearing it...because no one ever forgets my name....Sandy Shores...and guess what...I sell real estate on the beach....seriously! It works out perfectly for me! Yes, it is a great time to buy, and financing has gotten a bit tighter. We seem to working alot with first time home buyers, getting them some fantastic programs. They are freeing up some of these landlocked owners, allowing them to move on to other properties. Have a fantastic week!
Miriam, I agree...we are slowly seeing these homes becoming filled with happy families! That's my favorite part of the business too! Best wishes to you!
Good to see that "happy families" are coming out to buy homes. I have had enough of these angry closings with buyers & sellers arguing over the smallest, insignificant things. Happy, happy, joy, joy!
Hey Douglas, Sounds like you're having a tough time there! I hate that! We are in a stressful time and sometimes there is alot of tension during a real estate transaction! Try to hang in there...hopefully it will get better as time progresses! It's part of doing business!