Real Estate Investment

real estate -There are a number of tendencies at the current real estate market. One of them is that smaller properties are in great demand now. More and more people switch from their big houses or spacious apartments to smaller homes. This is mainly caused by the current situation on the real estate market and its downfall. Thus, people choose this option to get smaller utility bills, cheaper taxes and little or no mortgage. The main objective of moving to smaller real estate is to reduce the general expenses involved in residential maintenance.

Real Estate Investment

 

Once the decision to move to a smaller home is made, you might discover that it is not that easy as it might have seemed before. A great demand for smaller property makes it more difficult to find suitable property.

On the other hand, the real estate market is filled with larger real estate properties which go for high prices. Such property is not selling quickly now. Moreover, the value of larger property is essentially reduced. Those homes which used to cost $1 million are put on sale with a 20% discount which makes their price about eight hundred thousand dollars. The sellers resort to this even though they lose money. This is done by the homeowners to get the property sold off as soon as possible so it does not spend too much time on the market.

 

Due to the downsizing tendency selling larger real estate properties has become quite a challenge. It is very time consuming and difficult to find buyers for this property. This is also caused by the current difficulties to get mortgage loans. The buyers used to obtain jumbo mortgages much easier previously. Now many people do not even aim for mortgages as about 10% of Americans are unemployed, a number of people who have money save it as they are not sure about the future. All these factors caused such a drastic shift in the real estate market tendencies.

Though the tendency for downsizing is rather widespread it does not mean that all homeowners living in big, expensive homes want to change them for smaller properties. This year only 22% of home sales were done with the aim to move to a smaller home. And even a certain percentage of these homeowners decided to move because they were older and could not take care of big property any more. Thus, they were not guided by financial considerations.

However, for a certain number of these homeowners the financial considerations were the main reason to move. Some of them lost their employment and thus decided to more. Some of them could not afford the mortgage payments for their big homes. The reasons might be different, but the tendency stays.

If you are interested in finding out more about Evergreen real estate, then you should be here – on the Evergreen CO real estate web site. This is a very detailed and helpful web resource with all types of information about Evergreen real estate.

 

 

 

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Posted by My First Home Blog India

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