A recent survey put homeownership as the Number10 on the list of 10 Hottest Resolutions for 2010. The interest that Americans have in this is backed up by a Move.com survey that inquired about real estate resolutions people have for the year.
The Move.com resolutions go like this.
1. Start a home improvement project (37.7%)
2. Start saving money so you can purchase a new home (15.4%)
3. Fix my credit so I can buy a home next year (9.1%)
4. Become a first time home buyer (7.2%)
5. Refinance my mortgage or modify my loan (6.8%)
6. Learn more about local real estate condition in my community (5.5%)
7. Sell my home next year (5.2%)
8. Buy investment property (5%)
9. Talk to a lender about what I can afford for a new home (3.2%)
10. Purchase a home to live in myself next year (2.2%)
The list of resolutions above exceeds 100% so some people may be double counted, but the list is good news for real estate agents. Some of those who will do home improvement projects are doing so to prepare to move from existing homes, though only 5% committed to having plans to sell the home next year. Some 31% talked of buying a home, even if they were only in the stage of fixing their credit or starting to say money. More than 5% are checking our local real estate conditions. Many may be waiting to see what happens with housing, though some may hope to take advantage of the home buyer's tax credit.
Whether all this interest translates into purchases in 2010 has yet to be seen but real estate agents have their work cut out for them in working with potential buyers and sellers.
How you will respond to this challenge? Will you help homeowners carry out their resolutions?