Wednesday, October 22, 2014 • 07:36
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So tell me, how was your buying or selling experience last year?



Jeana_Boulos
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Jeana Boulos
January 24, 2014
Ever wonder how your home buying or selling process compared to others? Here's your chance to find out. In 2013 the California Association of Realtors (C.A.R.) conducted a survey of home sellers and another of home buyers, both of which they just published. The home buyer survey was conducted in March where they randomly surveyed about 1,400 buyers who had purchased a home over the last 6 months. The survey included over 40 questions concerning a buyer's home buying experience.

The home seller survey was conducted by the California Association of Realtors (C.A.R.) in August and September. They randomly surveyed 600 sellers who had sold their home in the last 6 months. This survey was also over 40 questions and concerned the seller's home selling experience. Let's take a look at some of the results.

Buyers

Q: What were your main reasons for buying your home?

The top reason for buying a home was price decreases at 38% while favorable price and/or financing came in second at 12%

Q: Are you satisfied with the home you purchased or do you feel like you selected the best option given the limited supply of homes?

66% of buyers surveyed were satisfied with their purchase while 34% said they chose the best option due to limited inventory.

Q: Why didn't you buy your home sooner?

Having not many housing options made the top of the list at 48%. 37% of buyers said they had been waiting to see when prices would stabilize and only 11% said that they needed to sell their existing home.

As for sellers, here's how some of their results turned out.

Q: Why did you sell your home?

In 2013 the #1 reason for selling was that sellers felt the time and/or price was right to move up. The belief that interest rates weren't going to get any lower came in as the #2 reason for selling.

Q: Do you think home prices in your neighborhood will go up?

Overall, sellers were fairly optimistic about home prices going up in their neighborhoods. 43% believed they would go up in 1 year while 58% believed they'd go up in 5 years.

Q: How long did you consider selling before actually doing so?

On average, it took sellers more than a year to decide to sell their home. 17% said it took 8 to 12 months and 16% said it took them 24 months.

Now that we have an idea of the general experiences of buyers and sellers in California last year, let's see how Valley Center compares. I've replicated the same questions below plus a couple more and will publish the results. Please send me your answers to jeana.h.boulos@gmail.com.

So tell me- how was your buying or selling experience last year?

Buyers:

Q: What were your main reasons for buying your home?

Q: Are you satisfied with the home you purchased or do you feel like you selected the best option given the limited supply of homes?

Q: Why didn't you buy your home sooner?

Q Do you think home prices in the neighborhood where you purchased will go up in one year, in five years?

Q. How many offers did you make on other homes?

Sellers:

Q: Why did you sell your home?

Q: Do you think home prices in your neighborhood will go up?

Q: How long did you consider selling before actually doing so?

Q: How many offers did you receive from buyers?

Q: How many weeks was your home listed on the market prior to the opening of a successful escrow?

Looking forward to seeing your answers!

Jeana Boulos is a local real estate professional living in Valley Center. Feel free to contact her for any of your real estate needs at 760-517-6316 or jeana.h.boulos@gmail.com. Visit her website at boulosrealty.com.

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