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Home Is Never Far Away

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Home-is-never-far-awayThe majority of renters who plan to purchase a home soon don’t expect to move far when they do. More than half will stay in the same county, if not the same neighborhood.

Where will they live?

  • 41% In same county where currently reside

  • 23% Don’t know

  • 14% In same neighborhood as current residence

  • 11% In another county in California

  • 10% In another state

  • 1% In another country

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Do renters plan to use a REALTOR when they buy a home?

  • 56% Yes

  • 36% Dont know

  • 8% No

Source: CAR 2013 Renters Survey

 

How Do Buyers Evaluate Real Estate Crushes?

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How-Do-Buyers-Real-Estate

Whether It’s love or real estate, having a short list of deal breakers is critical for weeding through crushes to find “the one.”

69% of home buyers surveyed reported that they have had a house crush

 

Top Attributes for Women:

Outdoor living spaces: 54%

Open Floor Plans: 42%

Curb Appeal: 29%

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Updated Appliances and Fixtures: 29%

 

Top Attributes for Men:

Outdoor Living Spaces: 46%

Garages: 40%

Curb Appeal: 35%

Open Floor Plans: 30%

Source: realtor.com

Top 5 Reasons For Buying

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top-5-reasons-for-buying-a-home

 

Why did most Californian purchase their home in 2013?

Price Reductions:                                             38%

Favorable prices and/or financing:        12%

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Desired a new or better location:             10%

Investment or tax advantages:                    9%

Tired of renting:                                                  7%

 

Source: California Association Of Realtors® 2013 Home Buyer Survey

The Shifting Desires of Home Buyers

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the-shifting-desires-of-buyers

The US Census Bureau recently released its 2011 data on the characteristics of new, single-family homes. Some interesting details from the study include:

The percentage of homes built without a garage or carport is the highest it’s been since the mid-1990s.

  • 2 out of 3 new homes built in 2011 had a porch, a trend that has been on a steady rise for almost 10 years whereas, the addition of decks has decreased.

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New homes without a garage or carport:

  • 1994        13%
  • 2005         8%
  • 2011        13%

New homes with porches:

  • 1992     42%
  • 2011     65%

What does this Mean?

Some analysts believe it hints at a shift in the way Americans want to live; in smaller houses and dense neighborhoods that promote walking and social interaction.

 

Source: U.S. Census Bureau

The Social Benefits of Homeownership

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The-Social-Benefits-of-Homeownership

 

The Social Benefits of Homeownership

Educational Success:

  • Children of homeowners tend to have higher achievement levels in math and reading.
  • They also tend to have fewer behavior problems.
  • Teens whose parents own a home are more likely to stay in school.

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Health Benefits:

  • New homeowners report higher quality of life.
  • Higher self-esteem.
  • A greater feeling of control over their lives.

Civic Participation:

  • Homeowners vote more.
  • Homeowners spend more hours volunteering.
  • They tend to know more people in their neighborhood.

 

Source:

NAR’s 2012 study entitled “Social Benefits of Home Ownership and Stable Housing”

The Home Buying Process

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Median Numbers Of Homes Viewed Before Purchasing?

2007: 15

2008: 14

2009: 14

2010: 15

2011: 12

How Did People Find Their Home?

Using an Agent: 80%

Using a Website: 13%

For Sale Sign: 4%

Open House: 3%

 

Copyright © 2012 CALIFORNIA ASSOCIATION OF REALTORS®

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