Existing home sales are down 22% from December of last year.  With the yearly home sales at 4.89 million units there is currently a 9.6 month supply of homes on the market.  That is the highest we have seen since 1998. 

What does this mean to all of us?  That is a great question...  With the credit crunch and sub-prime meltdown still affecting the broader market and economy as a whole it is unclear how long it will last and when the housing market will bottom. 

Lease purchasing can benefit everyone involved.  That is why we have made it a priority that advise and professionals exist in the marketplace to inform the public.  For a seller who has been sitting with their home on the market, you are not alone as I mentioned earlier the average time it takes to sell a home by traditional means is an average of over 9 months.  What if you don't have 9 months to wait and see if you home sells?  We have a solution! 

Instead of taking your home off the market and trying to rent it to someone who is most likely going to treat it like a rental property why not limit it to only people who would take care of your home as if it were their own?  That's what we do in a lease purchase.  The Tenant/ Buyer is responsible for all of the minor maintenance on the home.  Unless the heating system or roof needs to be replaced, sellers who opt to take advantage of a lease purchase advantage can avoid most of the pitfalls of being a traditional landlord. 

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Success in all that you do!