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Affordability: Perception vs. Reality (you might be suprised at what you can afford)

Stephanie CrawfordStephanie Crawford
Jul 8, 2009 1 min read
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Affordability: Perception vs. Reality (you might be suprised at what you can afford)
Chapters

Affordability

• 76.4% of consumers think a median-income family can only afford 50% or fewer of the homes for sale in their area.  In reality, a family earning the national median income can afford nearly 75% of the homes for sale today on Realtor.com.

Foreclosure

• 20.1% who say they or someone they know may be facing foreclosure haven’t taken steps to resolve their situation, while 22.4% haven’t taken steps but plan to before the Administration’s refinance program expires next year.

• While 66.3% of respondents said they aren’t likely to consider buying a foreclosure, 23.9% of buyers would consider purchasing a foreclosure if sellers would pay closing costs and 19.5% would purchase a foreclosure if there was higher certainty related to home repairs required to make the home “move-in” ready.

WRITTEN BY
Stephanie Crawford
Stephanie Crawford
Realtor

Steph is a Nashville native who has been helping homebuyers and sellers throughout Middle Tennessee since 2003. She's the broker/owner of Brokers Cooperative, manages the NestingInNashville.com website, and oversees contracts, negotiations, and marketing from her home office. 

Chapters
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