Where are the most stubborn home "sellers"? ... These cities!
invite response
2011 Apr 7, 1:50pm 1,018 views 3 comments
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investor90
2011 Apr 7, 5:28pm
The problem may be with your definitiion of seller? A seller is supposed to own an asset, or at least have some equity in it. Most of these sellers are really "mortgage debtors" trying to sell a house that they really don't own. If they actually owned the properties they could sell them quickly at a reasonable market price. Most sellers really owe a paper debt that is more than the MARKET value of the house...thats why they can't be sold. Lower the price until a buyer WITHOUT the assistance of government, buys it at a REAL market price, not an FHA or FNMA price.
American in Japan
2011 Apr 7, 5:57pm
>"Most of these sellers are really “mortgage debtors†trying to sell a house that they really don’t own."
True that! I'll put it in quotes...
http://finance.yahoo.com/real-estate/article/112492/most-stubborn-home-sellers-fortune?mod=realestate-sell
*El Paso, Texas
*Tulsa, Oklahoma
*Omaha, Nebraska
etc.