Months Childrens Place
Local Agents Say They Have Been Busy Answering More Calls And Showing More Houses To Potential Buyers In The Past Few Months.
When it comes to real-estate sales, numbers don’t always tell the entire story. If they did, low IRs, lower home prices and an improving employment marketplace would create more demand. And local agents say they’ve been busy answering more phone calls and showing more homes to potential buyers in the past few months. But all the activity doesn’t appear to be yielding results.
In reality it leads to a different set of numbers, affirming that sales are soft in the real estate market. For the 1st 4 months of 2011, the dollar sales volume for all home real estate sales in Yakima County dropped by 22.1 p.c from last year, according to Headwaters-The Source.
Washington State Universitys Washington Center for Property Research reported that sales of existing homes dropped 17.3 % year-over-year during quarter one of 2011. And costs are a problem too. According to info from Headwaters-The Source, the average home price for the 1st 4 months of 2011 is down 6.6 % from last year.
So why the poor stats?
While much attention has been on IRs and the economy, emotion and circumstance still very much play into whether a person wants to” or can” purchase a home.
I’ve got people who are well qualified, but theyre uncertain (about buying), asserted Tom Biehl, broker and owner for RE / MAX First Advantage. Ive got people that are willing, but the capability (to buy) isn’t there. Several months after her divorce in 1994, Ellen LaViolettes home in Grandview went into foreclosure.
For the subsequent fifteen years, she would rent. But she grew tired of only staying in a spot for a year or 2 or being in the power of her owner. After spending a year existing with her mum and dad, she was prepared to buy again. I wanted something of my own, said LaViolette, 47. I do not like to move. I desire security. I’d like to be in a position to stay in one place.
When she started looking at places early in 2009, she qualified for a Fed first time home purchaser credit. (Under current rules, a first-time buyer is anyone that hasn’t owned in three years.) She planed to make use of the tax allowance to pay back a relative who offered to lend money for a down-payment. But she never acquired.
LaViolette never found a home she liked in her price range. And notwithstanding working 2 jobs” as an education para-professional and a hospital cook” she slipped behind on one of her bills and her credit history dropped, making her unsuitable for a house loan she was preapproved for.
Today, LaViolette, along with her son and her grandchild, still lives with her mum and dad in Grandview. She wants to buy, but has decided shes better off finding a rental. Theres too many things holding me back now, she said about buying a home. Harder lending standards from a couple of years back have taken many of us who need to buy out of the running, Biehl said. In several cases, a prospective customer may have to pay down debt to enhance the buyers credit score, an important factor for interest rates. And that is case also with Croatia real estate.
We’ve got a lot of folk that are needing to buy but they’re having to do some credit repair, Biehl said. Even people who have OK credit scores are continuing to be cautious, as reported tagza.com.
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This entry was posted on Thursday, June 18th, 2009 at 3:33 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.