Trends in California Real Estate
Today’s Home Buyer:
Despite concerns about the performance of the market, there are buyers who are taking advantage of today’s prices and low mortgage rates. A survey done by the California Association Of Realtors in 2011. Asked buyers what got them off the fence and what was there primary reason for buying now instead of waiting. Their responses pointed to a familiar theme of improved affordability due to price declines and favorable financing. The majority of buyers felt that prices cannot get any lower. This was the consensus of four in ten buyers making their purchase. Other reasons for buying now versus later. A desire for a better location or a larger home. Also safety of neighborhood, schools, and proximity of friend and relatives.
The survey also revealed the Internet is the primary tool of buyers. They used it not only for research on the housing market and neighborhoods, but to find homes and their agents. However, while the Internet offered a wealth of information, 80 percent of buyers indicated that they found the home they purchased through an agent. Over half of the buyers survey indicated they use social media for agent referrals, view home videos, agents Facebook pages and
to get home buying tips. The overwhelming Majority (93 percent) are receptive to receiving information about home buying via Social media.