What causes a home value to drop within 30 days?

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Question refers to 2333 Kenmore Ave, Charlotte, NC 28204
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0Yes

April 19 2007
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Answers (2)

Profile picture for dianabwatson
The market and economy. It is much more difficult for buyers to secure financing in 2009 than in recent years. The lenders are requiring a healthier down payment and a solid credit score, as a result there are fewer qualified buyers in the market for a home. There also is a larger inventory of homes for sale in all price points. So, with more competition and fewer buyers, sellers need to price their home accordingly. It is not that the value dropped- but that the asking price was too high for current conditions. 
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April 20 2009
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The economy.
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April 20 2009
 

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