House Trades & Owner Finance
Over the past few weeks we've seen homes offered for trade and/or with owner finance start turning up but on a very spotty basis. This week, the number of such ads has exploded.
Anybody else seeing this in their areas?
We're in SE coastal CT. We are not in a subprime nor high foreclosure area; but the market is just plain dead...homes sitting months without sales. Even large, beautiful directly on-the-water properties are just not selling. Don't really have a good sense for prices because there just aren't enough sales to get a feel for comps although I'm sure we're probably down at least 15%.
The "For Trade" ads I've seen have been 100% people looking to trade within the immediate geographical area. So, it would appear to be a pent-up demand to move as opposed to a real need due to job relocation, divorce, etc. Have seen several ads stating, "Looking To Downsize". That could mean loss of job & the need for a less expensive property?
Anyway, I'm curious if this type ad is popping up all over the country? Avoiding the realtor/banking route & sorta a barter system developing to move homes??