Survey: Households Say Now is Good Time to Buy
Survey Source: Realtor Magazine Online
More than three-quarters (78 percent) of potential first-time home buyers say that now is a good time to buy a home, despite widespread concern about the economy. Out of the 1,000 prospective U.S. first-time home buyers surveyed, 68 percent think now is a better time to buy than six months ago.
Prices are the driving motivation for potential first-time home buyers with more than eight of ten first-time home buyers (85 percent) saying they consider current home prices affordable and 73 percent citing that taking advantage of current prices is a major factor in their decision to buy. Interestingly, potential first-time buyers are still split between "being willing to consider an offer now" (42 percent) and "waiting for prices to go down before they seriously consider making a purchase" (48 percent).
For months we've been saying over and over that current pricing, rates, housing options and incentives, such as the First Time Homebuyer Tax Credit, USDA Loan Program and others are providing tremendous opportunities. Without a doubt, this is a great time for first-time home buyers to get into the market. The research for this survey also shows that while consumers still have concerns about the future of the economy, many are actively considering their options as we move into the spring selling season.
If you're looking to buy or sell, no one is selling more real estate than The Gardner Team in our local area. We have the best track record, experience, tools and resources to provide you with what you're looking for... "Results!"
Among the survey's other key findings:
- Bargains in the marketplace are providing additional options for buyers to consider. 56 percent of potential first-time home buyers are considering purchasing a foreclosed or short sale home, and 63 percent are open to purchasing either a "fixer-upper" or "as-is" home.
- When asked to rate the features that they look for when choosing a home, price is the primary consideration with 87 percent saying this feature is "very important," followed closely by neighborhood safety (80 percent) and the condition of the home (71 percent).
- Having enough money for a down payment is a top concern of potential first-time home buyers as nearly half (46 percent) said they are "very worried" about the issue.
- Most respondents (86 percent) are in the market for single family homes.
Whether looking to buy, sell or both - you can contact our team directly at 971-832-1234, email us at jasongardner@johnlscott.com or use this blog www.DiscoverSherwood.com or our websites www.TheGardnerTeam.net and www.SherwoodJohnLScott.com for more helpful information and tips.
We look forward to sitting down and talking with you about your goals!
Jason and Amber Gardner, Your Local Real Estate Experts
Top 1% of Realtors Nationally for John L. Scott Real Estate and #1 Realtors in the City of Sherwood Oregon
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