Yes there are people buying houses, you can get some great deals right now. The rentals would depend on the area. I know in Tempe houses are rented fast, but we also have the university here.
I heard on the news that rentals are getting real hard to find as most people that lost their homes ended up renting a home.
And if you rent, you better hope the landlord is not in foreclosure and takes your money...lots of scams going on too
There are plenty of homes up for sale. In our neighborhood (subdivision area), last count......there are around 13 homes sitting empty. There use to be something like 17 but some sold.
I wouldn't really call it a market... it's more buyers choice, just select a house and name your price.
I called it a buyers market because there are so many homes available to bid on that are dirt cheap and as you mentioned, you can just about name your price. Most can't be sold due to the previous owners stripping the house.
I would assume you could buy a home stripped if you are paying cash and possibly signed some sort of release. I don't know how the law reads or if the banks would allow a person to purchase a non livable home. I was always under the impression that if the home is not livable, meaning ready to move in, then the bank has to make necessary repairs and then it can go on the market....not sure....
Yep, lots of people upside down are just walking away....a house is an investment, if you're investment is bad you cut your losses. The market balances out here fast, tons of people willing to snatch up those cheap homes.
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