Author: Local Honest Homebuyer

Ultimate Guide: How to Determine Home Values in Covington and/or Newport KY

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Introduction In this guide, we’ll streamline your decision-making in the Covington or Newport, KY, real estate market by teaching you to assess home values accurately. We’ll explore factors influencing these values and provide insights to inform your choices. Let’s dive in and learn how to determine home values effectively. Factors Affecting Home Values in Covington … Continued

The Downward Pressure on Home Values Amid Rising Foreclosures

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When many homeowners cannot keep up with their mortgage payments, foreclosures inevitably rise. This increase in foreclosures often comes with a ripple effect that can dramatically alter the local real estate market dynamics, especially regarding home values. The fundamental economic principle of supply and demand plays a pivotal role here. When there’s a surge in … Continued

Understanding Market Saturation in the Context of Foreclosed Properties

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Foreclosure, an unfortunate circumstance that often results from economic downturns, unemployment, or other financial crises, affects homeowners and significantly impacts the real estate market. The increasing number of foreclosed properties can lead to ‘market saturation.’ Let’s dissect this concept to understand its implications for the housing market. Market saturation in the real estate context refers … Continued

Rising Foreclosure Rates: What are The Influencing Factors?

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Introduction The property market is a complex ecosystem that ebbs and flows with various socio-economic and political circumstances. In recent years, a notable concern has been the escalating foreclosure rates. But what are the root causes of these rising numbers? This article will peel back the layers of this issue, shedding light on the multifarious … Continued

Inflation and Foreclosures: Unveiling the Hidden Connection

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Inflation, a general rise in prices, and a fall in the purchasing power of money seem to be remote concepts when discussing foreclosures. However, if we delve deeper, the link becomes surprisingly apparent. This post will unravel how and why inflation influences foreclosures. At its core, inflation is an economic phenomenon that impacts our daily … Continued

How Unemployment Rates Trigger a Spike in Foreclosures: A Closer Look

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Every economy undergoes cycles of growth and recession, with unemployment rates fluctuating in response to these changes. When the jobless rate rises, a ripple effect touches numerous sectors, including the real estate market. In this context, we’ll explore how unemployment rates dramatically affect foreclosure rates. Unemployment, at its core, results in a loss of income … Continued