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The increase in home prices has begun to slow down due to less interest from investors. On a seasonally adjusted basis, during the month of June, property prices only rose 0.1 percent, according to the Federal Housing Finance Agency; as opposed to the estimated 0.5 percent that data gathered by Bloomberg predicted. After helping to drive prices up, investors are now pulling back. They are doing this due to a decrease in foreclosures and other homes at reduced prices.
Cash purchases dropped to 23 percent in August. The usual percentage is around 33 percent, stated the National Association of Realtors. Investors tallied close to 12 percent of, the smallest amount since the end of 2009. Because prices have begun to escalate, the investors aren’t interested anymore. They are looking to buy properties at low prices and sell them for a profit. Sales for pre-owned homes have also dropped by 1.8 percent for August reported the Realtors group.
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Emil specializes in consumer bankruptcy, debt settlement, and mortgage modification, offering a holistic approach to solving mortgage and debt problems. Emil listens to clients, understands their circumstances and goals, and helps them make the right choices by presenting all options and contingencies.
He is dedicated to helping South Floridians regain their financial freedom from overwhelming debt caused by high interest credit cards, bad mortgage loans, and uninsured medical expenses.
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