The real-estate slump has an upside for first-time home buyers looking to spend $200,000 or less. As median-home prices continue dropping, the supply of homes for sale in the much-coveted low-end market is swelling. That’s good news for those of us operating fixer upper house businesses.
The subprime debacle, foreclosures and “short sales” in which a buyer offers less than what is owed the bank, continue to drive Phoenix real-estate prices down. That, in turn, makes more homes than ever affordable for first-time home buyers. Bidding wars on “short sale” properties with multiple offers are breaking out.
Under-$200,000 market gives home sales a push in the Arizona Republic describes this new phenomena.
Weekly Blog Roundup
Thee were some truly outstanding posts this week. Some highlights from this week’s blogs include:
Conniebrz.com hits the jackpot at a thrift store; notetalk’s article gives good insight into what home buyers are looking for in a house; extremeperspective sees lease-to-own as a way out of a financial spot; johnreed.com tells us, in his own “sensitive” way, why we don’t need advisors, networks or mentors (okay, I admit that’s his webpage, not a blog); wealthisgood deals with tenant problems, and retals’r'us is closing in on selling a property.
Also, gatherlittlebylittle describes the epiphany that inspired him to put his financial house in order, and moolanomy describes differences between Prosper vs. LendingClub.com peer-to-peer lending.
Thrift Store Shopping: Major Score at conniebrz.com
Characteristics of First Time Home Buyers at dequalss.com/notetalk/
Where to Get Rich? at extremeperspective.blogspot.com
Do You Really Need Team of Advisors? A Network? A Mentor? at johnreed.com
There is Light at the End of the Tunnel at rentalsrus.blogspot.com
My Financial Epiphany: The Storm of My Life at gatherlittlebylittle.com
LendingClub Highlights and Giveaways at moolanomy.com
Late Rent, and Landlord Craving at wealthisgood.blogspot.com