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Survey Shows Motivation Behind Homes FSBO

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By : John Cutts    99 or more times read
A survey showed that Americans' decision to buy homes or sell their properties through homes FSBO and other means are greatly influenced by the current condition of the country's housing market. The Fannie Mae survey conducted in April revealed that 65% of respondents still favor homeownership despite the economic downturn and the onslaught of the foreclosure crisis.

The survey also showed that the huge number of foreclosed homes for sale all around the country is the primary factor behind people's decision to buy a new or a second home or sell their properties to acquire another one. According to most seller and buyer respondents, they plan to relocate to a place 10 miles away from their old home, but not more than 50 miles.

This led housing market analysts to conclude that the current housing industry status is the main factor behind decisions to buy or sell and not because people just want to change their location or are relocating due to job changes or loss of employment. Over 80% of respondents who are first time sellers or buyers also believe that homes are more affordable now than a year ago.

This claim is quite surprising to analysts given that most respondents also stated that the current economic condition worry them more than it did last year and that more homeowners are losing their properties to foreclosure or selling them as homes FSBO. Analysts believe that the tax initiative of the federal government and mortgage rates being at record lows have something to do with respondents' answers.

The survey further showed that the current housing industry status favors buyers more than sellers. Most home buyers are encouraged by opportunities to acquire houses at very low prices, while sellers are worried about losing money and getting less than their asking prices when they sell their homes.

Real estate experts have analyzed the implications of the survey on the real estate market and have stated that it would take some time before the housing market accomplishes a full recovery. They also claimed that to balance inventory and demand for homes, there should just be inventories equivalent to six months.

As of now, the National Association of Realtors has revealed that the market is holding a home inventory equivalent to eight months. This means that there should be fewer homes FSBO and other home selling activities before the prices of dwellings reach a balanced level.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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