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Not a sign you want in your neighborhood. Photo courtesy of respres.

Four Signs Your Home is in Trouble

 
Nearly half of the nation's mortgages are predicted to be underwater by the end of the first quarter of 2011. That means owners owe more on their home than it's worth. Yowza.

According to MSN Money, here's how you can tell if you are in danger:
  • Lots of foreclosures in your area. Best to look to the Foreclosure Google Map to see how your neighborhood is faring.

  • Lots of 'For Sale' signs. More than three months on the market is a bad sign.

  • No jobs. Areas with the highest unemployment rates have been hit the hardest.

  • Homes in disrepair. A well-kept neighborhood is a valuable neighborhood.
Where do you live and what are you seeing in your area?



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It's stories like this

09/10/2009 02:04 PM Handyman

That drive the market down further. If people think prices will fall further they will put off a home purchase even if they are ready to buy. this downward pressure means people who want to sell their house to move to another house can't sell the house they are in. and this creates a downward spiral. Home sales are up. Both new homes and existing. http://www.realtor.org/research/research/ehsdata
So don't believe the hype. Four months in a row is a trend. Your home price will only go down if people stop buying homes in your area. Simple economics of supply and demand. So if you spread fear an buyers stay on the sidelines, your fiction becomes reality. or in other words life imitates art.

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