HERES WHATS HAPPENIN

HERES WHATS HAPPENING AT MY OPEN HOUSES IN SCOTTSDALE ,ARIZONA Boy what a difference a year makes, here in the phoenix ,scottsdale ,arizona housing market. I have been doing open houses all month and have seen a big change , for the worse , in the homebuyers that are coming in too view my open house party. Almost the 10 out of 10 level of interested prospects, they all have a similar stigma, THEY OWE MORE ON THERE PRESENT HOME THAN ITS WORTH. So how do they get there current home sold, in order to purchase a new one from us? They don;t. For years , many homeowners valued there credit to the point that it was there badge of honor, the reward , there bragging rights, but not today . Have you been listing to prospects, who actually talk about walking away, buying a home today , and walking away from the white elephant that cannot be sold? I am seeing many more vacancies in the mid to higher priced homes in this area. The Census Bureau also reported that the percentage of vacant homes in the U.S. rose from 2.6 percent in the third quarter of last year to 2.7 percent in the fourth. All told, there were 2.09 million homes sitting empty and available for sale at the end of last year, up from 1.99 million three months earlier, the agency said. As Bloomberg explained, this number includes both listed properties and those that banks have repossessed and have not yet listed. Patrick Newport, an economist at IHS Global Insight, told BusinessWeek, “The vacancy rate captures all the properties that are being held off the market by banks, so it shows how much excess inventory there really is. How do we sell new homes , when prospects cannot get financing, cannot get there present home resold, and the inventory of vacant homes keeps rising ? We do the best we can , we are realtors, and are job is to hang in there while helping ourselves, are clients, and dig in for the long haul. Share this on del.icio.usDigg this!Stumble upon something good? Share it on StumbleUponShare this on TechnoratiPost this to MySpaceShare this on FacebookShare this on LinkedinTweet This!Subscribe to the comments for this post?