Investors taking over Real Estate Market
Sunday, 28 February 2010 07:33
Investors now account for more real estate transactions than first time home buyers. The number of sale from investors grew about six percent from late last year. Existing homeonwers buying real estate also account for about two percent more sales than first time homeowners since late last year.
With the increased number of damanged REO (bank owned) properties, investors are finding great deals as prices for these properties continue to decline. Real Estate investors in South Carolina expect to see big returns on their investment by the end of 2010.
Properties from REO's, short sales, and auctions have increased significantly since the end of 2009. Short sales have increased the most representing about ten percent of the sales in 2009 and almost sixteen percent so far in 2010.
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