Vacant Homes Are Half the Single Family Homes on Market in Early 2007
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If you are looking to buy and move quickly, this is the best time of your life. The combination of over exuberant builders, homeowners who have moved and can not sell, and foreclosures has created a plethora of empty single family homes on the marketplace.
The number of vacant homes for sale nationally jumped more than 30 percent in the third quarter from a year earlier, to 1.9 million homes, the latest data available from the U.S. Census Bureau show. That’s about half of all single-family homes on the market, said Michael Carliner, vice president of economics for the National Association of Home Builders. More than a third of those - 825,000 - are in the southern region of the United States, which includes Maryland. “The share of vacant for-sale is unusually high, compared to anytime in history, really,” Carliner said. “Over the past few years, total housing production has been beyond what the underlying fundamentals would indicate.” via baltimoresun.com
Homesellers must take this fact into consideration that there are many opportunities out there for buyers to get their hands on. An empty house typically means a desperate (or motivated) seller. If you are going to be moving, get the contract in hand before you plan your move. Otherwise you too may end up paying two mortgages. And that could get expensive in a hurry.
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Comment by adviser on 24 January 2007:
Grand villa in Bucharest centre can buy them for 1,900,000 euros. Several real estates and properties in Romania to selling. Kontakt-me: EU-Capital@web.de