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The 4 New Types of Real Estate Consumer: 2013 Homebuyer Trends

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It’s an improving economy and consumer confidence is on the rise. And that's effecting buyer behavior when purchasing a home. In fact, a trend of new buyer behaviors is emerging in real estate.

This presentation takes you through the 4 new types of homebuyers.

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The 4 New Types of Real Estate Consumer: 2013 Homebuyer Trends

  1. 1. 2013 HOMEBUYER TRENDS INSIGHTS ON NEW BUYER BEHAVIORS
  2. 2. 2013 HOME BUYER TRENDSSHIFTING HOME BUYER BEHAVIORS It’s an improving economy and consumer confidence is on the rise. Does that affect buyer behavior when purchasing a home? Yes, a trend of new buyer behaviors is emerging in real estate.WHO IS THE NEW BUYER? To better understand new behaviors in the marketplace, we collected insight from:  Acclaimed clinical psychologist Leslie Reisner, Ph.D  ERA Real Estate brokers
  3. 3. 2013 HOME BUYER TRENDSDR. LESLIE WEIGHS IN “As our economy continues to recover, buyers are definitely on the move. However, the way consumers approach buying a home today is different than it was during the real estate boom. Lifestyles have changed and therefore, behaviors have changed. Having insights into these evolving attitudes and behaviors not only helps consumers identify their priorities, it also enables real estate professionals to appropriately tailor their level of service to reflect those needs.”- Leslie Reisner, Ph.D, clinical psychologist and a national expert on behavioral change
  4. 4. THE NEW HOME BUYERS 4 BEHAVIORS TO LOOK FOR IN 2013
  5. 5. 2013 HOME BUYER TRENDS IN THE KNOW Well-researched and knowledgeable, “in the know” buyers have invested a great deal of time understanding the many options available to them and are very clear on their preferences.  View home as a foundation for their life rather than an investment  Know their thresholds, i.e. researching schoolIn the Know buyers are districts, commuting times, etc. – will nottech-savvy, informed andactive in the home buying compromise on must-havesprocess. They know what  May compromise in areas such as house sizethey want and how to get it. in order to land at desired location
  6. 6. 2013 HOME BUYER TRENDS ALL IN THE FAMILY Planning for their future, these buyers keep their immediate and extended family top-of-mind when house hunting.  Multiple generations are living under one roof more often now due to eroded personal finance (Baby Boomers) and a tight job marketAll in the Family buyers (young professionals)bring new meaning to „family  Choose a home based on its ability toties‟ with everyone livingunder one roof. accommodate more than one family group  Take their extended family’s opinions and needs into consideration when deciding on a property and location
  7. 7. 2013 HOME BUYER TRENDS MOVING UP As consumer confidence improves, many consumers are saying “no” to do-it-yourself projects and “yes” to move-in-ready homes.  Move up buyers now have the means to pay a little more for up-to-date properties versus the days when investing sweat equity was the trend to save cashMove Up buyers say no to  These buyers tend to prefer premiumthe hammer and yes to low- propertiesmaintenance.  Some may have to compromise on price to get them but will do so in order to gain a home in great condition
  8. 8. 2013 HOME BUYER TRENDS SIZING DOWN Many current buyers who adjusted their lifestyles to simpler means to weather the recession intend to maintain that lifestyle even as signs of a recovery prevail.  Prefer smaller homes with less upkeep so they can enjoy their hobbies, travel, etc.“Do not supersize me!” This  Includes empty nesters wishing to downsizeis the Sizing Down buyer‟s and eco-conscious buyers looking to reducemotto. They want less their carbon footprintupkeep and more free time.
  9. 9. 2013 HOME BUYER TRENDSERA REAL ESTATE’S 2013 HOME BUYER TRENDS HAVE BEEN FEATURED IN THE NEWS RECENTLY, INCLUDING:• THE STREET• BANKING MY WAY• REAL ESTATE ECONOMY WATCH

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