Sneaky Real Estate Market Trend Illustrates Need for Mortgage Resources
Salt Lake City, UT (PRWEB) March 12, 2007
Homebuyers looking for advice on how to use days on market, or DOM, as a potential negotiating tool turn to LoanPage.com, a complete source of mortgage loan tools and lenders, for answers. A new article, “Doing the Time Warp with Real Estate Market Data” discusses how real estate agents manipulate multiple listing services to boost their home sales (http://www.loanpage.com/articles-and-advice/new-home-loan/doing-the-time-warp-with-real-estate-market-data.aspx). LoanPage.com helps homebuyers understand real estate market trends and make informed buying decisions.
“Doing the Time Warp with Real Estate Market Data” outlines ways that buyers can use the DOM statistic as a tool. Knowing how many days a home has been on the market gives the buyer an opportunity to negotiate for less than the listed price, precisely why relisting has become such a trend in the real estate market, LoanPage.com advises (http://www.loanpage.com/articles-and-advice/new-home-loan/doing-the-time-warp-with-real-estate-market-data.aspx).
Recently, SocketSite reported that nearly a third of the inventory in San Francisco stayed on the market for a full 90 days without selling. The real estate market trend of relisting homes misleads buyers, “If a homebuyer made an offer on a home they thought was on the market for 15 days and it was actually on the market for 120 days, the information may have changed their offer,” says Tom Scaglione, president of the regional multiple listing service in Tampa, as reported by Shannon Behnken of The Tampa Tribune.
The practice of relisting homes can be confusing to homebuyers. LoanPage.com provides answers and resources to make the process easier. Buyers can get information on mortgage rates, home loans, and find a loan officer to guide them through the purchase of their home. Disturbing real estate market trends, such as relisting, are just one area where LoanPage.com, a one-stop online resource for real estate and home loan information, offers help to homebuyers. For more information please visit: http://loanpage.com.
LoanPage.com is a complete source of mortgage loan tools and resources, including calculators and a mortgage glossary. Visitors can find answers to the most common loan questions, download a loan application or find lenders in their area.
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