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2009 Housing Market Survey
Median Net Cash To Sellers 2005: $220K 2009: $50K Q. What was the net cash gain or net loss to the seller as a result of this sale? $50,000
Sellers Reporting a Net Cash Loss Percent of All Sellers Q. What was the net cash gain or net loss to the seller as a result of this sale? Long Run Average = 9.3%
Proportion of Home Sellers Planning to Repurchase Q. Is the seller planning on purchasing another home?
Proportion of First-Time Homebuyers California Q. Was the buyer a first-time buyer?
Median Price to Median HH Income Ratio
SOURCE: California Association of REALTORS® Average Over Years Shown: 6:1 Ratio
Multiple Offers: Over 1/2 homes sold 2009 had multiple offers
Percent of Buyers with Zero Down Payment First-Time Buyers vs. Repeat Buyers 5.0% 3.7% 2.8%
Percent of All Cash Sales
Buyer Use of Property (All Homes)
California Housing Market Outlook Source: CALIFORNIA ASSOCIATION OF REALTORS® Forecast Date: June 18, 2010
2010 Survey of Homebuyers March 2010
Share of Distressed Sales (All Buyers) Q. Was the home you bought a regular market sale, an REO/ bank-owned property, a short sale, or other?
Became Aware of Home Purchased Through Agent Q. Did you become aware of the home you purchased through a real estate agent?
Home Buyers Who Looked at Newspaper/Magazine Ads to Search for a Home Q. Did you look at newspaper/magazine ads to search for a home?
More Buyers Expected Home Prices to Appreciate 2009 vs 2010 Q. Do you think home prices in your neighborhood will go up, down, or stay flat in 1 year? 5 years? 10 years? All Buyers
Mean = 56.6 months; Median = 60 months Time Planned to Stay at Current Home Before Selling It (All Buyers) Q. How many months do you plan to stay at your current home before selling it?
Down Payment As a Percent of Home Price (2010) First-Time Buyers Mean =23.1% Repeat Buyers Mean = 37.3% Q. How much did you put down as your down payment for the home purchased (in percent of the home value)?
Buyers Who Know the Terms of Their Loan Q. Do you know the term of your loan?
2009: Mean = 8.1 Median = 9 2010: Mean = 8.5, Median = 9 Scale: “1” = very easy, “10” = very difficult Level of Difficulty to Obtain Financing (All Buyers) Q. Please rate how easy of difficult it was to obtain financing on a scale of 1 to 10, with 1 being very easy and 10 being very difficult.
Reasons for Satisfaction with the Real Estate Agent You Used Q. Why do you have that level of satisfaction with your agent?
Advice for Real Estate Agents Q. What advice would you give to real estate agents to improve the process or the level of service?
CA New Housing Permits
CA is not building new homes – housing shortage in our future?
SOURCE: CBIA Household Growth: Approx 200,000/yr A drop of 83% since 2004
From the Bookshelf…
Business Tools You Can Use May 2010
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