Biggest Buyers Market Hits
Mike Colpitts
June 09, 2009
The majority of housing markets in the U.S. are experiencing the biggest buyers market in years, according to a report by Housing Predictor dot com.
The $8,000 first time buyers federal tax credit, a drastic drop in home prices and record inventory of foreclosed properties are providing a haven for buyers to become homeowners, despite the recessionary economy. The factors have combined to produce a massive buyers market that is heating up for summer, typically viewed as the busiest time of the year for home sales.
Buyers are purchasing homes for as much as 75% off the markets highs in California, Ohio, Florida, Michigan, Virginia and Georgia among other states, where the housing boom produced record high prices. Bankers are slashing home prices to get rid of the excess inventory of foreclosures. Markets are reeling from falling home prices with the unprecedented epidemic of foreclosures.
An estimated 4.2-million homes have been foreclosed. The forecast of foreclosed properties is being updated by Housing Predictor, which was the first real estate research company to forecast the epidemic.
Housing Predictor issues more than 250 housing market forecasts in all 50 U.S. states, updating forecasts throughout the year as market conditions change. Leading real estate companies, home builders, Wall Street bankers, real estate investors, home owners and many of the country's largest retailers depend on Housing Predictor forecasts.
Search foreclosures and check the latest real estate news at http://www.housingpredictor.com
The $8,000 first time buyers federal tax credit, a drastic drop in home prices and record inventory of foreclosed properties are providing a haven for buyers to become homeowners, despite the recessionary economy. The factors have combined to produce a massive buyers market that is heating up for summer, typically viewed as the busiest time of the year for home sales.
Buyers are purchasing homes for as much as 75% off the markets highs in California, Ohio, Florida, Michigan, Virginia and Georgia among other states, where the housing boom produced record high prices. Bankers are slashing home prices to get rid of the excess inventory of foreclosures. Markets are reeling from falling home prices with the unprecedented epidemic of foreclosures.
An estimated 4.2-million homes have been foreclosed. The forecast of foreclosed properties is being updated by Housing Predictor, which was the first real estate research company to forecast the epidemic.
Housing Predictor issues more than 250 housing market forecasts in all 50 U.S. states, updating forecasts throughout the year as market conditions change. Leading real estate companies, home builders, Wall Street bankers, real estate investors, home owners and many of the country's largest retailers depend on Housing Predictor forecasts.
Search foreclosures and check the latest real estate news at http://www.housingpredictor.com
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