Love a Good DIY? Now's the Perfect Time to Snatch Up a Fixer-Upper Home
If nothing thrills you more than an extensive DIY project, you'll be happy to hear that the market for fixer-upper homes is growing. According to research by Zillow, the number of real estate listings classified as "fixer-uppers" or "as-is" has grown 12 percent over the last five years.
The statistics show that the number of more expensive fixer-uppers has risen even more drastically since 2011, at a rate of 33 percent. The report explains that this trend is being driven by the high demand in the housing market.
"Sellers are in the driver's seat, with the freedom to list their home for sale ‘as-is' without worrying about price cuts or the home sitting on the market," says Svenja Gudell, Zillow's chief economist. "And without sufficient new construction, the housing stock has aged, so home buyers are finding more and more homes on the market in need of a little TLC."
Some markets have more fixer-uppers than others -- Seatle has experienced a particularly large spike in "as-is" listings. However, if you've been looking for a home to renovate from the ground up, now's a good time to start browsing your local listings!