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61 home—I win the bid." RESELLING TO OWNER-OCCUPANTS Although more owner-occupants like Tyler are buying at foreclosure and bank-owned auction, most distressed property buyers are still local community developers like Kerr and Tritt. And like Tritt, most of those local community developers are reselling to owner- occupants. "It makes me feel good to provide what I know is a really high-quality product to that buyer," said Tritt, referring to the first-time homebuyers he often sells to. "My name means everything to me. I see these people at the grocery store and at the ball game. I want them to come up and hug me." An analysis of public record county tax assessor data confirms Tritt's track record of reselling renovated foreclosures to owner- occupant buyers. at analysis shows he has resold 74% of the properties purchased on Auction.com, and 91% of those resales went to owner-occupants. Tritt's investing strategy of reselling to owner-occupants is consistent with most other local community developers purchasing distressed properties at auction, according to the Auction.com 2022 buyer survey. Sixty-one percent of all survey respondents identified reselling to owner-occupants as their primary investing strategy for properties purchased on Auction.com. e percentage was higher (63%) among buyers who identified themselves as individual investors than it was among buyers who identified themselves as institutional investors (55%). IMPROVING NEIGHBORHOODS Nearly three-fourths of all Auction.com buyers (72%) said their investing is helping to improve neighborhoods, according to the buyer survey. at's also consistent with Tritt's sentiments. "I feel like we've played some small role in increasing values in the neighborhoods we've been operating in," he said, noting he was willing to buy in the wake of the 2008 recession, when many were afraid of the real estate market. "We've worked hard to bring values up, which impacts on a positive note all those homeowners in that neighborhood. … Real estate is the number one wealth driver for most individuals." Local community developers like Tritt are not just talking the talk. ey are willing to walk the walk when it comes to quality renovations and reselling to owner-occupants: 75% of Auction.com buyers said they would be willing to document renovations, and 61% said they would agree to resell to owner-occupants following renovations, according to the 2022 buyer survey. "ose of us who do what we do would love that," said Tritt of agreeing upfront to resell to owner-occupants. "at would be fun for us." Daren Blomquist is VP of Market Economics for Auction.com. In this role, Blomquist analyzes and forecasts complex macro- and microeconomic data trends within the marketplace and greater industry to provide value to both buyers and sellers using the Auction.com platform. Blomquist's reports and analysis have been cited by thousands of media outlets nationwide—including the Wall Street Journal, the New York Times, USA TODAY, and on many national network broadcasts, including CBS, ABC, CNN, CNBC, FOX Business, and Bloomberg.