Affordability is Driving More Buyers Back into the Market

sudler-sothebys-logo10 July 2009 ? Affordability is driving more buyers back into the market according to a survey conducted by Realtor.com. As reported today on Rismedia, bargains are motivating millions of buyers to engage in the market and at the same time delaying homeowners to sell. For 14.6% of first time home buyers, the federal $8,000 tax credit is a factor in the home purchase. The housing industry, including the National Association of Realtors, has been working hard at trying to educate professionals and home buyers about this first-time buyer tax credit. The Chicago Tribune is reporting today that with the December 1st, 2009 date looming, buyers who are not under contract soon will lose out on the opportunity. Another interesting point in the Realtor.com survey is with almost half of transactions being short sales or foreclosures, two-thirds of buyers would not consider purchasing a financially distressed property.

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About Andrea Geller

Andrea Geller, Realtor® with Sudler Sotheby?s International Realty, specializes in residential real estate sales and marketing of resale properties and new construction homes. Acknowledged as an expert in the real estate industry, Andrea has been interviewed for industry related articles for print and online media including the Chicago Tribune, Crain's Chicago Business, Reuters, Bankrate.com, and Illinois Realtor Magazine. Andrea's commitment extends to the community as an active member of several professional associations. Her appointments include the Board of Directors of the Chicago, Illinois, and National Association of Realtors® and the Lakeview Chamber of Commerce. She markets herself under HOT PROPERTY®, an innovation in the real estate industry led by Chaz Walters that has been marketed since the 1990s. This unique real estate concept is always a step ahead of the industry providing marketing from cutting edge interactive exposure to targeted innovative advertising opportunities. Visit her at www.hotpropertychicago.com or 773.868.3090.

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  1. Chicago?s Fall Market 2009: Buyer, Sellers and REALTOR® Expectations | The Chicago 77 - September 8, 2009

    […] there will be fewer home buyers out there than in years past but more than we have seen in the first months of this year. The […]