What Research About Homes Can Teach You
Reasons for Low Housing Inventory: Jeff Rutt’s Take The unavailability of sufficient homes for sale in real estate follows demand and supply curves, resulting in a higher cost for each unit. But why would there be lack of enough homes for sale when a lot of people are looking to buy? According to Jeff Rutt from Keystone Custom Homes, below is how to explain low housing inventory: Inadequate Equity For someone to be able to sell a home, the need to have sufficient equity on the property. However, studies suggest that 20% of people still paying their mortgage have not acquired enough equity on their real estate to be able to sell. Due to these homes not being ready for sale, you should expect a low housing supply.
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In case many homeowners would be willing to sell their property were it not for the fact that it’s not yet time to profit, there will certainly be less properties on sale in the real estate market. Almost a decade ago, millions of housing units were bought to the crest of the real estate boom. Plenty of families that acquired homes during that period are still counting on the right timing to make returns, even where there are no underwater loans. That’s another reason for housing shortage that leads to higher prices. Lack of Buyer Interest Obviously, nobody would build homes for sale when a lot of buyers are holding off, and that can impact on housing supply. According to Jeff Rutt, factors such as price instability and inadequate supply of homes have pushed buyers, who drive the market behind the scenes, to push back their buying plans. The Perks of Owning Investment Real Estate Becoming landlords to make good money is attractive to many people, considering the monthly rental payments they can potentially receive. Similarly, there’s the potential for properties to soar in value, attracting a better selling price in future. As such, individuals that acquire residential investment properties, for example single-family units, may not be ready to put these on sale in the foreseeable future. Again, that’s a factor to explain low housing inventory. Insufficient Property Developers Due to the lack of sufficient property developers, there’s a shortage of housing inventory, Jeff Rutt from Keystone Custom Homes suggests. It just happens that the 2007 economic meltdown led to the closure of many smaller property developers, with those surviving being forced to sell off their inventories of prime land set aside for future development. If you’re reading reviews of Jeff Rutt from Keystone Custom Homes today, you’ll see that he’s been involved in the development of high quality residential properties that suit detailed specifications provided by owner, from the ground up.