New numbers show more residents continue to lose their homes to Foreclosure. This is true in almost every city around the country.
While foreclosures now make up a significant chunk of what’s out there – hundreds of homes are getting auctioned off at a time... now – only 3 percent of those surveyed had actually bought a distressed property.
Another 35 percent of buyers surveyed had considered buying a foreclosed property, but could not find the right home or found the purchase process to be too cumbersome.
It can be a daunting process buying a home – that is unless you are doing it all the time and know how to work the system.
My bet is that this is leading to a small number of speculators buying up most of these properties.
As the use of the Internet and social networking sites takes on added importance, most buyers continue to work with a Real Estate Professional.
And despite the beating real estate has taken, most have not lost faith in their home’s value as an investment.
Nearly half of buyers surveyed said they thought Real Estate was a better bet than stocks. Another 30 percent of buyers felt their investment in a home was at least as good as putting money into the stock market.
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