dkjlsdkjsdIn life we have basic needs such as
One of life’s basic necessities is housing. Lack of housing is detrimental to one’s well-being. It can pose a major barrier on one’s employment, and threatens one’s physical, emotional and psychological health. This is one of the reasons why the housing market plays such a vital role in our economy.
Housing can take many shapes and forms. Single-family homes, duplexes, condominiums and apartments are some of the most common types of housing. Housing can be as basic as simply providing shelter designed for human habitation or as luxurious as providing a superb lifestyle beyond one’s imagination.
New single-family homes are considered to be one of the most desirable types of housing, simply because many of them can be custom-built and every feature of the home is brand new. Moreover, many new homes are built on pristine properties such as golf and resort communities, creating a superb lifestyle for those that can afford this luxury. This paper specifically
The Research Problem
The current housing market offers little good news. With the downturn in the housing market, homeowners are being forced to discount the asking price of their homes and sacrifice profits. Since homeowners are unable to sell, foreclosures are at an all time high. Many find themselves in circumstances such as various life events as divorce, death or job transfers and are forced to keep their house on the market until they can receive the listing price. Some homeowners that carry a current balance on their mortgage need to sell at a certain price in order to pay off existing mortgages. What factors contribute to the price that a homeowner eventually gains from the sale of their home?
Why the Research Problem is Important
Analysts are stating that in a housing depression. Many housing prices are down in a great many regions across the US and it’s worthwhile for realtors and investors to gain as much knowledge of a specific...