Homeownership Purchasing Hurdles

Harris Interactive, a market research firm’s bi-annual survey on purchasing a home found the following from a recent online survey: 

Among renters, 59% said they aspired to own a home, but of those, 51% said saving enough for a down payment was their biggest obstacle. 

Those in the 18-34 age group cited the following concerns:   62% saving down payment, 36% qualifying for a mortgage, 34% having poor credit, 31% in ability to pay off existing debt, 29% not having a stable job and 13% declining home values.  

Both the 18-34 and over 55+ age groups expressed preferences that indicate they prefer to live in urban centers:  The younger group preferred short commutes to work and the older group preferred the proximity to restaurants and shops. 

The majority, 70% of respondents said owing a home is part of their American dream.  This attitude toward homeownership rose with age, from 65% of 18-34 year olds to 76% of those 55 +. 

Among current homeowners, 80% said they plan to buy another home in the future and 57% said owning a home is among the best long term investments.

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Homeownership Purchasing Hurdles

We.Are.Homeowners.
Image by MightyBoyBrian via Flickr

Harris Interactive, a market research firm’s bi-annual survey on purchasing a home found the following from a recent online survey

Among renters, 59% said they aspired to own a home, but of those, 51% said saving enough for a down payment was their biggest obstacle. 

Those in the 18-34 age group cited the following concerns:   62% saving down payment, 36% qualifying for a mortgage, 34% having poor credit, 31% in ability to pay off existing debt, 29% not having a stable job and 13% declining home values.  

Both the 18-34 and over 55+ age groups expressed preferences that indicate they prefer to live in urban centers:  The younger group preferred short commutes to work and the older group preferred the proximity to restaurants and shops. 

The majority, 70% of respondents said owing a home is part of their American dream.  This attitude toward homeownership rose with age, from 65% of 18-34 year olds to 76% of those 55 +. 

Among current homeowners, 80% said they plan to buy another home in the future and 57% said owning a home is among the best long term investments.

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Homes Sellers Fare Better in Getting Their Home Sold Using a REALTOR®

Logo of the National Association of Realtors.
Image via Wikipedia

Are you trying to decide whether to sell your home on your own or hire a Realtor?  Check out this survey to help you make a decision:

Homegain.com conducted a survey on selling your home: For Sale by Owner “FSBO” vs. REALTOR®.  Homeowners were asked whether they used a REALTOR® to sell their home or whether they attempted to sell it themselves. 

83% said they used a REALTOR® and 17% tried on their own.

59% of homeowners that used a REALTOR®  to sell their house were successful vs. 39% of the FSBO’s reflecting a 50% higher closing rate for those using a REALTOR®  

81% of the homeowners that used a REALTOR® to try and sell their homes said they would use a REALTOR®  again for their Real Estate needs.

88% of the homeowners that used a REALTOR® to try and sell their homes said they would use a REALTOR®  again.

71% of FSBO’s who managed to sell their home on their own said they would try and sell their home on their own again.

The survey also pointed out that 24% of FSBO’s eventually enlisted the aid of a REALTOR®

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