Rising foreclosures bring more buyers
by elizabetheugenio on January 31, 2009
As foreclosures increased, price of homes declined bringing more sales. While the price of homes declined, the number of sales in December 2008 increased by 111% compared to the number of sales in December 2007. This means, that the affordability rate increased opening up the market to more buyers.
It is a common misperception that stopping foreclosures will keep prices from declining. Buyers buy based on what they can afford to pay monthly and not based on prices. With the lowering of interest rates and the increase in FHA loan limits, we saw a dramatic increase in the number of sales. Knowing this, more attention should be placed on financing to hasten the recovery of the real estate market. Additionally, if lenders can streamline the process so that they can hasten the processing of their files, we can have quicker turnaround rate and more sales.
The govenment has done a tremendous job when they took over Fannie Mae and Freddie Mac. Hopefully, the bill proposing to keep the FHA loan limits be approved.
Elizabeth M. Eugenio, (909) 376-8615
Email: Elizabeth@HomesByLiz.com Website: www.HomesByLiz.com
Certified Distress Property Expert (CDPE), Certified Residential Specialist (CRS), Graduate Realtor Institute (GRI)
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Since 1991, I have served the residents of Chino Hills and surrounding cities. Providing exceptional customer service has been my top priority earning me referral and repeat business from family, friends, associates and past clients.
The advanced training in finance, marketing and technology I received as a Certified Residential Specialist (CRS) designee provides you better representation making the buying and selling process a more profitable and easier experience. Only 4 % of Realtors in the nation has earned this designation.
Short Sale and Foreclosure Resource (SFR) is the only designation recognized by the National Association of Realtor for short sale and foreclosures. This designation and the (CDPE) Certified Distressed Property Expert has allows me to better assist you as a buyer on your purchase of these properties and as a homeowner experiencing financial hardship avoid foreclosure.
Additionally, the Seniors Real Estate Specialist (SRES) designation has helped me serve the special needs of the 55 years and better population by making the process easier and help keep more of your r money when you move.
Contact me for all your real estate needs and you can count on me to provide you better representation and make sure you have an easier and smoother transaction. I can be reached at (909) 376-8615 or at: Elizabeth@HomesByLiz.info.
Elizabeth has written 27 articles on this blog.
