?? for those that are Selling and Buying

I was having a discussion with a few of my friends who think that most people are selling their homes and moving out of state, some including myself felt that the reason so many homes were on the market is people are either downgrading or upgrading and not necessarily relocating.

When I closed on my home in Oct,the couple was actually getting a divorce.

I am sure there are a million reasons, but for those that are selling thier home or even looking to buy, what feeling are you getting?

Re: ?? for those that are Selling and Buying

I agree I don't think as many folks are relocating as our RE and other listing agents have indicated.

We looked at 8 houses this weekend of which two couples were getting a divorce. Turns out one couple had not made it to their 1st anniversary. That made DH & I rather .

Re: ?? for those that are Selling and Buying

We've seen a bunch lately, and most have been that the people bought when prices were high and found they can't afford the payments with the increased oil prices, etc. I'd say most that we've seen are selling for less than they bought for.

Message edited 12/7/2009 9:56:13 AM.

Re: ?? for those that are Selling and Buying

We've looked at about 15 homes (in FL) and i'd say 5 of them were because of divorce and the rest are b/c the homeowners can't afford the mortgage anymore.

We've found that most people took out ARM's and huge 2nd mortgages and 5 years later can't afford the higher payments.

Of the 15 homes we've seen i'd say 12 of them are short sales and 1 was a foreclosure.

Re: ?? for those that are Selling and Buying

Re: ?? for those that are Selling and Buying

I have to agree with all the posts above me. I personally had buyers in a different area close to me selling their home wanting to purchase another home in the area, bigger, more amenities, etc. for the same price as what they would get if they sold their home, due to the buyers market these days. I have heard so many different reasons as stated in above posts.

Re: ?? for those that are Selling and Buying

Ours was an estate and the children were selling their parents house...I know this happens all the time

Re: ?? for those that are Selling and Buying

Ours was semi-estate sale. The son inherited it, lived in, tried to flip it, gave up and waited till the worst time in the mortgage crisis to try to dump it.

In my neighborhood (the better part of town) there are only 2-3 houses for sale. One has been on and off the market for 2 years and is not liveable. The other 2 houses are gorgeous and huge...and asking a good chunk.

The other parts of my town have more starter homes for sale. My guess? Those people have found great deals on the larger homes --- and probably out of town. In NJ, there are still some really affordable towns up north and out west and alot of our friends/aquaintances are getting out of their smaller homes and getting into larger, but much more affordable homes in other towns.

There will always be divorce, wedding, death sales.... the other stuff is more interesting!