Trulia.com's Foreclosure Attitudes Survey Presentation

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Trulia.com's presentation of the December 2010 Harris Survey on Foreclosure Attitudes among Americans. The survey was conducted 11/2-11/4, 2010 among 2,034 U.S. adults aged 18 years and older.

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Trulia.com's Foreclosure Attitudes Survey Presentation

  1. 1. TRULIA.COM FORECLOSURE ATTITUDES SURVEY DECEMBER 2010
  2. 2. Top Level Findings <ul><li>58% of American adults expect the housing market will not recover until after 2012. </li></ul><ul><li>Only 10% think it will recover in 2011, and 22% think it will be 2015 or later before the market recovers. </li></ul><ul><li>48% of American adults with mortgages would consider walking away from their homes if they owed more than their home was worth, up from 41% in May 2010. </li></ul><ul><li>49% of U.S. adults are at least somewhat likely to consider buying a foreclosed home, up from 45% in May 2010. </li></ul><ul><li>81% believe there are downsides to buying a foreclosed home. </li></ul><ul><li>Among adults who believe buying a foreclosure has disadvantages, their top concerns included: </li></ul><ul><ul><li>66% think buying a foreclosure may involve hidden costs, </li></ul></ul><ul><ul><li>54% believe the process of buying a foreclosure is risky, and </li></ul></ul><ul><ul><li>33% fear that a foreclosed home may lose value after they purchase it. </li></ul></ul><ul><li>97% would expect at least some discount on a foreclosed home; 67% expect to pay at least 30% less for a foreclosed home than a similar non-foreclosed home. </li></ul>
  3. 3. Methodology <ul><li>This November 2010 survey was conducted online within the United States by Harris Interactive via its QuickQuery( SM ) online omnibus service on behalf of Trulia and RealtyTrac between November 2-4, 2010 among 2,034 U.S. adults aged 18 years and older. </li></ul><ul><li>The sample included 1,329 homeowners, 1,000 of whom currently have a mortgage, and 652 renters. </li></ul><ul><li>Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. </li></ul><ul><li>Propensity score weighting was used to adjust for respondents’ propensity to be online. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. </li></ul>
  4. 4. When Americans Expect the Housing Market to Recover Year % of American adults who believe housing will recover Already recovered 4% 2010 1% 2011 10% 2012 27% 2013 24% 2014 12% 2015 or later 22%
  5. 5. Attitudes Toward Buying a Foreclosure <ul><li>49 percent of U.S. adults are at least somewhat likely to consider purchasing a foreclosed property , up from 45 percent in May 2010. </li></ul><ul><li>The number of U.S. adults who believe there are downsides to buying foreclosed properties has increased to 81 percent, from 78 percent in May 2010. </li></ul>Top Concerns Among Those with Negative Sentiment toward Buying a Foreclosure November 2010 May 2010 Hidden costs 66% 68% Process is risky 54% 49% Home may lose value 33% 35%
  6. 6. Infographic: What would you do if you can’t pay your mortgage
  7. 7. Infographic: When will the housing market recover?
  8. 8. Infographic: How will robo-signing impact the market?
  9. 9. Infographic: Would you strategically default on an upside-down home?
  10. 10. <ul><li>For the full data and to download a replay of Trulia CEO Pete Flint and RealtyTrac SVP Rick Sharga discussing the results of the survey and other insights into the real estate market, click here . </li></ul>FOR MORE INFORMATION:

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