What percentage of home owners make money after selling their homes?
All I need is a quick experienced (realtor, mortgage, broker, real estate investor) approximate number, thanks. Don’t need all the different variables taken into account, thanks.
5 Responses
Landlord
25 Jun 2010
Glenn S
25 Jun 2010
Very few, maybe 10%, if the house was purchased in the last five years. Each year after that the percentage grows. It also depends on the area. Some areas took a much harder downturn than others. It my area property values dropped as much as 60%, but right now we are seeing the prices start to inch up a little.
Also it depends if the homeowner had gone out and refinanced the property taking out equity.
Mr. Fix-It
25 Jun 2010
I am a Landlord but also an investor…According to my broker less then 10% of people that have sold in the last year have turned a profit over their purchase price.Most have taken beatings or are trying to salvage out a foreclosure…On the other hand-now may be a good time to buy—most think the market has bottomed and buying something cheap now and sitting on it for a few years may be profitable.I say may -be again…If we could know for sure where our economy was headed –we could make the right moves and get rich…..
chatsplas
25 Jun 2010
Well there is NO set answer to your query.
DEPENDS is only correct response.
MUST take all the variables into account.
Depends when they bought, how long they held, what they paid, what they sell for, what money they put into house, where house is located, how local housing market is doing, etc.
Billy Cunningham
25 Jun 2010
that have bought since this day in 2005???? less than 5%
that have bought on this day in 1995. over 90%
It depends on when they bought, if it were prior to about 1999 they would make money, after it would be less then half.