In an article found in Business Week Online; 3/6/2009, p9-9, 1p
The article reports that as the once-inflated property prices bottom out housing sales are increasing dramatically across the U.S. This is reportedly because the people selling homes are under water on their mortgage and are trying for a so-called short sale, where the lender agrees to take less than what's owed to prevent a foreclosure. Prices have allegedly dropped so low that cash-ready investors and first-time buyers are making multiple offers on distressed properties.
In an article found in Business Week Online; 3/6/2009, p9-9, 1p
The article reports that as the once-inflated property prices bottom out housing sales are increasing dramatically across the U.S. This is reportedly because the people selling homes are under water on their mortgage and are trying for a so-called short sale, where the lender agrees to take less than what's owed to prevent a foreclosure. Prices have allegedly dropped so low that cash-ready investors and first-time buyers are making multiple offers on distressed properties.
http://www.businessweek.com/lifestyle/content/mar2009/ bw2009035_187650.htm