Shopping for a Bargain?

Shopping for a Bargain?

According to the National Association of Realtors (NAR) Distressed properties account for a large part of today’s housing market; however, after some consideration, most buyers choose to keep looking rather than purchase a home in foreclosure. According to the NAR 2009 Profile of Home Buyers and Sellers, almost half of all buyers and 56 percent of first-time buyers considered purchasing a foreclosed home but ultimately did not.

The survey revealed several factors that went into buyers’ decisions not to move forward with a foreclosed property. Twenty-five percent of buyers couldn’t find the right home, 17 percent thought the home was in poor condition and 16 percent felt the process was too difficult. Ten percent of buyers ended up purchasing a foreclosed home, up four percentage points from last year.

Julia Corkey & Vickie Schoenfeld
RE/MAX Professionals Select, Naperville Illinois
Email: Info@Homesbyteamelite.com

Website: www.HomesByTeamElite.com