Vacant Homes on the Rise: Amazing Deals!

The number of vacant homes for sale nationally jumped more than 30 percent during the third quarter from a year earlier, to 1.9 million homes, the latest data available from the U.S. Census Bureau shows.

That's about half of all single-family homes on the market, says Michael Carliner, vice president of economics for the National Association of Home Builders.

Sellers who are facing this dilemma are dropping prices in an attempt to encourage sales.

However, if buyers wait and wait and wait, investors will claim the property long before the prospective buyer makes an offer. So for buyers reading this: Get in today and make an offer. The beginning of 2007 will record the greatest beginning of a year since after the 80's real estate crash. Great news for owner occupants looking to purchase.

Although,declining home prices could trigger more defaults on mortgage loans if home owners who are struggling with two mortgages are unable to cover the cost of the loan by selling the house, adds Celia Chen, director of housing economics for Moody's Economy.com.