Nobody has an investment strategy of buy high and sell low but many of today’s homeowners still struggle with owning a home worth less than when it was purchased.
According to RealtyTrac 6,666,622 properties or 11.9% of home owners are seriously underwater today. The good news is the number of “underwater” properties continues to slowly decrease. Locally the numbers of properties in trouble for Hamilton County – 47,923; Butler County -14,100; Clermont County- 5,427 and Warren County 5,226. Click here to access map below highlighting problem properties throughout our country.
Potential home buyers in greater Cincinnati need to understand that not all sellers are in the financial position to sell low, cover closing costs, pay for significant repairs and have enough money to bring to the closing table. Sometimes both sides need to give a little so the buyer can afford to buy and the seller can afford to sell. Don’t miss out on the home of your dreams because contract negotiations are more difficult than what we see on tv shows.
The RealtyTrac article takes the information on today’s housing market one step further by providing an interesting comparison: