Re: “Few in mood to buy a home” (TNT, 1-7).
My husband and I are fortunate enough to have the ability to buy a second home. What we have found is that all of the homes we looked into are short sales. This is a nightmare for buyers. You have to wait up to 60 days before you find out whether your offer is accepted.
We refuse to make a full-price offer on most of the homes we have seen. Most of these short sales are in major disrepair and would never sell at those prices in a normal market. The houses we have seen have been purposely destroyed by the owners taking out their anger at this whole mess.
I do not understand why these foreclosures are not treated the same as car agreements. If they cannot sell for the price owed, the owner pays the difference, even if they have to put that on their bankruptcy. This would certainly keep the owners from destroying the property so they could sell closer to the price asked.
We are very disenchanted with the whole house-buying market. The weather did not keep us from looking, but there is nothing new on the market, except short sales. This is why few are in the mood to buy a home, in my opinion.
