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For Sale Handyman Specials and Other Home Types Stay Longer in Market



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By : John Cutts    99 or more times read
For sale residential properties in Augusta, Georgia, including foreclosed properties, Handyman Specials and newly built residences, are staying for longer periods of time in the market as majority of buyers shy away from making any purchase. Some are waiting for prices to drop further, while others are finding it difficult to secure financing to make a buy.

So far, an estimated 1,522 houses, including foreclosed homes in Augusta, GA, are in the local market waiting for over a year now for buyers to pay attention. According to the Greater Augusta Association of Realtors, houses sold in July 2010 remained vacant for almost half a year and were purchased at 97% of their initial list price.

According to local realtors, most homeowners are looking at prices and locations when seeking residential properties. Sellers, on the other hand, need to consider other offerings, such as foreclosed homes in Georgia and newly constructed dwellings being sold at much lower prices than ever before.

They added that the important thing is for a seller to price a newly built home just right, with its features commensurate to its asking price. They stated that most sellers of new dwellings end up chasing the market down, particularly with thousands of low-priced foreclosures and Handyman Specials available, and they end up offering their homes at much lower rates that they are worth.

A local resident has reported offering his home initially for $90,000. Now, the house is available for $79,000, but no interest has been shown by any buyer and the residence has been in the market since August 2009. Brokers have stated that the same situation is happening to almost all homeowners, even those who have paid their loans in time and done all the right things when it comes to home selling. Even sale of foreclosed homes, at very affordable rates, has become almost impossible.

In addition, foreclosed residential properties for sale continue to flood the market, giving buyers a lot of choices and more hope that prices of dwellings will continue to drop and they can afford to wait before making any purchase. Most homebuyers, brokers have added, believe that sellers are desperate to sell and will be willing to lower the price of a regular home down to a level that is almost the same as Handyman Specials.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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