In a study that should surprise no one, sentiment among homeowners to sell their homes is at a record low. Among the general public, only 7% believe it is a good time to sell your home. During the time period of 1992 through 2005, 40-60% of homesellers believed it was a good time to sell their home. This low sentiment is largely driven by the drop in home values and the difficulty potential sellers will have in selling their homes at the prices they hope to recover. On the other hand, consumer sentiment among buyers is very high with many believing it is a good time to buy a home.
I am not surprised to learn that most sellers are not looking to sell their home in this down economy. To sell a home in this economy is difficult as you have stiff competition from short sales and foreclosed homes. Buyers have most of the leverage and do not have to settle or overpay for properties.
De Novo Law Firm helps clients who are behind on mortgage payments or are underwater on their homes. If you owe more than your home is worth or are struggling to make monthly payments, call our office today. We can advise you on the options available to keep you in your home and lower your payments. Call today. (877) 346-7411.