Trulia’s CEO Pete Flint did a great job today on CNBC talking about foreclosures and first time home buyers.
Good news: According to our new national Trulia/Realty Trac Harris survey, there has been an increase in home buyer interest in Foreclosures. Many are first time home buyers making the leap into the housing market as prices become more affordable. Approximately 55% of adults surveyed said they are at least somewhat likely to consider buying a foreclosed home in the future. That’s up from 47% last November. 40% say they expect to get a 50% discount on a foreclosure.
If you’re interested in buying a foreclosure or other type of distressed property, it’s very important that you work with a foreclosure or short sale specialist. There can be many complications during these transactions and a real estate professional who has experience in this process is invaluable. Our survey showed that consumer sentiment about the downsides of foreclosures are up.
Three of the top points being:
Hidden Costs
Risky/Lengthy Process
Falling home Prices
Please check out the video for more details.
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May 27th, 2009 at 10:35 am
This is good news, really good news. Thanks for posting the video at my request!
You rock, Rudy.
I also like the fact that Atlanta’s latest prediction from our local numbers guru, Steve Palm at Smart Numbers, is “May will be the first month to show a year to year increase in ATL homes going under contract, in a long time…”