A new article published by RISMedia, “Home Buyers Shun ‘Fixer-Uppers'” by Kathleen Lynn, contrast the housing market of five years ago with today’s market and notes that — with so much inventory on the market — homes needing work or repairs will often remain unsold:
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[Five years ago] buyers often felt they had to accept homes in woeful condition. But these days, most look at “as-is” properties and say, “No thanks.” “I try to stay away from things that need a lot of work,” says Michael Lisa of Chestnut Ridge, N.Y., who is searching for a home in northern Bergen County, N.J.
“Buyers will tolerate nothing,” says Maria Rini, a Re/Max agent in Oradell, N.J. A recent Coldwell banker survey found that 87 percent of first-time buyers said a move-in-ready home is important to them.
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To read the entire article, CLICK HERE.
[SOURCE: RISMedia]