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Great Stats & Graphs On The Housing Market
publication date: Apr 18, 2011
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author/source: Chris Prang
Here are some great graphs and stats on the housing market.
Bottom line...if you buy a house now, YOU BETTER BE PAYING 15-25% LESS THAN WHAT THE AVERAGE FORCLOSURE SELLS FOR.
Example:
Resale or Comparible Home Value = $250,000 (These comparible values don't typically reflect the sales of all foreclosures...meaning, foreclosures are selling for less.)
Foreclosure Sales Price = $200,000 (This means you can buy the same house that has been forclosed on for a lot less than a non-distressed property...and in many cases in just as good of shape.)
You Pay 15-25% Under Foreclosure Sales Price = $150,000-$170,000 for your home.
Otherwise, you are taking a serious risk with your money.
**NOTE: Please keep in mind this scenario is a general scenario based on the national housing market. Some areas you will be better off, some areas you will be worse off. Do your due dligence and homework. Take your time, look around, make low offers. You can find a deal that will be good now and good 10 years from now.
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