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i am selling a 3 bed / 2 bath modular built in 1998 on 1.2 acres of land and i've already lowered it to $68,000 with me paying either the downpayment or the closing cost. at this price i cant believe it hasnt sold. it is in a good school district where the schools are small and still teach manners. i am baffeled
my friends are having similar issues with their big brick home which is 4 beds/3 baths on an acre which is down to $129,000

i cant believe there isnt a rush to indiana where living is affordable and jobs are available.

2007-01-23 20:57:15 · 7 answers · asked by painfully yours 3 in Business & Finance Renting & Real Estate

7 answers

Markets clear when prices fall to the level that buyers will buy. People are refusing to lower prices down to the clearing level and people are avoiding purchases because prices are considered high by buyers. Everything has a market price, when markets stop clearing then prices have moved away from the clearing price. People who are current owners tend to believe that it is someone's fault that things are not selling, like the comment above that the media is causing low land sales. People who are buyers are aware people are not lowering prices more than nominally and are sitting around waiting for someone to panic to get a good deal.

When markets do not clear, because prices have become sticky, volume falls. This tends to create damaging market conditions in other markets such as manufacturing. When one market does not clear, it impacts other markets. For example, during the Great Depression, it was the labor market that did not clear. Wages did not drop, so businessess were in a condition of falling volume and falling prices but employees would not reduce their wages. The consequence was that since prices were falling, in real terms wages were rising. In the greatest financial disaster in our country, people were getting pay raises. Within a year there was 25% unemployment but those who still working were in effect bringing home bigger paychecks.

Until everyone in the country who is selling cuts their prices or inflation errodes the value so it is the same as price cuts, things are not going to move. Anyone who bought recently is going to lose money, whether to inflation or to price cuts now.

2007-01-23 23:22:07 · answer #1 · answered by OPM 7 · 0 0

interest is low right now but will sky rocket when troops leave for that godforsaken place. when I had my manufactured home built interest was really low for an "arm" loan so I bought it on the arm interest rate which was a payment of $561 a mo. Great!! as the 9 years moved along the first 3 years I got refund checks then they started raising interest higher and I figured I put it towards my selling price (the excess monies which the higher rates had incurred) I bumped up my price that excess amount and sold my house within one month!!for $35,000 profit. people are waiting to see what the "T bill" which sets interest rates,.. will be. I'd love to move from Washington and buy your house!! I need a new environment for about 10-15 years. lol

2007-01-23 21:18:16 · answer #2 · answered by acesine 1 · 0 0

the problem today isn't the price. its the fact that people do not believe in this market. the press is killing the market and buyers feel that they will be able to buy anything cheaper tomorrow and much cheaper 12 months from now. lowering the price will do nothing unless you are giving it away. if there IS activity in your area, then maybe you have the wrong broker representing you. this is a market where you have to be aggressive and work the property, not sit on your *** and wait for someone to come.

2007-01-23 22:27:45 · answer #3 · answered by mouse1 1 · 1 0

You answered your own question. Houses are cheap so they are more affordable so people are spending more on a bigger houses. Lots of people are not wanting to buy a modular either. The winter time is the worst time to sell your house. In the spring it will sell better.

2007-01-23 21:02:21 · answer #4 · answered by searay092003 5 · 0 0

you'll want to purchase a dwarf hamster. the fee for any type of hamster is often sensible. the object which will fee the most is the housing. at the same time as i purchased my daughter her hamster, i purchased a great sparkling plastic bath and lid for the housing. Poked holes interior the lid and filled the bathtub with a wheel, some tubes and such. inspite of the sex of the hamster, you'll purely want to homestead a million in a cage. once you've 2 adult males, they are going to strive against to change into the dominant male.

2016-10-16 00:54:50 · answer #5 · answered by tenuta 4 · 0 0

Well, it really depends on some people's situation... I am a hotel manager and I really can't just sit down and buy a house even though I would love to...

Also now with the holidays over more people are more likely to buy...

2007-01-23 21:08:45 · answer #6 · answered by De 5 · 0 0

It could be because some people are afraid of big commitments and buying a house is a very big commitment (it's kind of like marriage).

2007-01-23 22:35:06 · answer #7 · answered by K 2 · 0 0

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