Tag: Distressed Property
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More Signs Of A Buyers Market In 2023 And 2024
A report by Lightstone Property indicates an 80% rise in forced property sales, signaling a buyers' market in 2023. Many buyers, drawn by low interest rates during Covid (7% in 2020, below 8% until May 2022), now struggle with repayments as rates hit 11.75% by May 2023. Initially, low rates encouraged new buyers and upgrades,…
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The Dangers Of Buying A Distressed Property
The property market is a very dynamic industry that is constantly adapting to meet the demands of buyers and sellers. Over the most recent 12-month period the pendulum has shifted toward a predominately buyers market. According to the data from FNB Home Loans as much as 25% of properties are put on the market due...