Gains in home prices over the last year haven’t provided enough lift to offset the headwinds holding the recovery down—and that’s a good thing, says David Hicks, co-president of Dallas-based HomeVestors.
While reluctance from lenders, sellers, and appraisers has become something of a drag on sales and price improvements, Hicks asserts the market’s slow growth has kept the country away from another housing bubble.
“At the price point of the market we generally service, typically at or below the median price, securing a fair appraisal and financing are typically the major challenges our franchisees face when selling a property,” Hicks said. “Since we focus on ‘ugly houses’ that owners are anxious to sell, we’re not as affected by seller reluctance as is the general market. Everything our franchisees have for sale is selling quickly and in fact, the first quarter of the year was one of the best ever.”
You may continue reading this article at the link posted here: HomeVestors: Market Constraints Keep Housing from Another Bubble
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