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Searching For My Lost Shaker of Salt

I need the salt shaker to get out the grain you need to take with this information, as it is supplied by a major real estate sales company that will mangle and manipulate numbers to make any market look good. 

But here’s the results of the Century 21 Real Estate March 2009 survey: “First-Time Home Buyers’ Top Reasons for Buying”*:

73%: Taking advantage of current housing prices                                                            

60%: Moving to a bigger living space                                                                               

56%: Having a more suitable place to start or raise family                                            

47%: Buying a home as an investment                                                                            

44%: Moving to a better neighborhood                                                                            

28%: Moving to better location for work                                                                         

*(% saying major factor)

If these results are truly representative, then the confidence factor of home buyers is rising based on current market conditions and not on life stage changes, a shift I have been seeing for years. 

I’ve warn desperate home sellers that the non-imperative of buyers to get a house or move up when a couple moves in together or has a child (or another), or gets a new job or a raise has severely impacted the pace at which houses are selling.  The let’s wait & see attitude has resulted in a big part of why the housing inventory has grown (the we  can’t pay our mortgages anymore reality is a huge factor as well).

But if we believe the C21 numbers (and I have no reason other than my natural skepticism to disbelieve them) the desire to take advantage of the market as it now stands has topped any life stage/life change reason to buy.  And that’s OK in my book, as long as these buyers can afford to buy, as neither sellers nor real estate attorneys care what the reasons are that propel buyers.

I’m encouraged.


( 2 comments — Leave a comment )
Mar. 31st, 2009 12:55 pm (UTC)
Buyers are the economy's lifeblood
You said it! As long as the buyers can afford it, let them have at it!
Mar. 31st, 2009 01:19 pm (UTC)
Re: Buyers are the economy's lifeblood
Thanks for your comment.

I taught a "Savvy Buyers" seminar last evening. Though only 8 attended, those 8 seemed much more interested and motivated than the attendees at the last two such seminars I taught.

It would be a wonderful thing if financially capable buyers bought from struggling home sellers at reasonable prices.

Edited at 2009-04-01 10:46 am (UTC)
( 2 comments — Leave a comment )



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