La Jolla Real Estate, Del Mar Homes, Rancho Santa Fe, Carmel Valley, University City and Downtown San Diego real estate,
homes and condos for sale in California - Ruth Mills & the Mills Team, REALTOR.






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 JAN 24, 2007
Vacant House inventory is growing
Data from the U.S. Census Bureau shows that the number of vacant homes nationwide has jumped over 30% in the third quarter of 2006, over the figures from the previous year.


That number accounts for nearly one half of the available single-family homes that are currently on the market. Sellers that are involved in this situation are lowering their asking prices to encourage buyers.

The current cycle that the real estate market is in is one where buyers are continuing to wait to see what happens with the market. In the meantime, the current "wait and see" attitude is causing prices to fall even further.

The longer the current trend continues, the greater the chance there is of an increase in loan defaults on mortgages. Home owners that are carrying two mortgages could run into trouble if they are counting on the sale of one home to pay off one of their loans.

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