Wsj home sellers survey

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Century 21 Real Estate LLC, the franchisor of the world’s largest residential real estate sales organization, today announced the results of its spring home selling survey, conducted online by Harris Interactive among 2,058 U.S. adults (18+) in May, 2013. The CENTURY 21® survey revealed that 33 percent of people currently searching for a home have been on the hunt for more than a year, and that the vast majority of them are willing to negotiate with sellers and make compromises to find their next home. In particular, prospective homebuyers are willing to compromise on popular amenities and their home’s location.

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Wsj home sellers survey

  1. 1. Subscribe Log InU.S. EDITION Wednesday, May 29, 2013 As of 8:00 AM EDTMay 29, 201 3, 8:00 a.m. ETThe Wall Street Journal news department was not involved in the creation of this content.Century 21 Real Estate Spring Home Selling Survey Unveils NewOpportunities for Home SellersEmail PrinterFriendlyShare: TextCentury 21 Real Estate Spring Home Selling Survey Unveils New Opportunities for Home SellersSellers No Longer at a Disadvantage; Buyers Going Above and Beyond for Their Next HomeMADISON, NJ--(Marketwired - May 29, 2013) - Century 21 Real Estate LLC, the franchisor of the worlds largest residential real estate salesorganization, today announced the results of its spring home selling survey, conducted online by Harris Interactive among 2,058 U.S. adults(18+) in May, 2013. The CENTURY 21(R) survey revealed that 33 percent of people currently searching for a home have been on the hunt formore than a year, and that the vast majority of them are willing to negotiate with sellers and make compromises to find their next home. Inparticular, prospective homebuyers are willing to compromise on popular amenities and their homes location.Since the decline of the housing market in 2006, many would-be sellers refrained from putting their homes on the market due to reservationsabout decreases in home values. As the real estate market recovers, the number of homes available for sale remains a challenge for theindustry. Listed inventory in April is approximately 14 percent below one year earlier,(1) which underscores the dramatic reversal of theprevious years buyers market status. With an increase of buyers coming into the market, the lack of available homes for sale has presentedchallenges for first-time and move-up homebuyers."For the last few years, certain homeowners have been hesitant to list their homes due to unfavorable economic conditions," said RickDavidson, president and CEO, Century 21 Real Estate LLC. "Today, the recovery in housing continues to gain momentum, and with so manybuyers in the market who are competing for so few available homes, it is a great time for sellers to speak with a real estate professional aboutthe advantages of listing their home."Lack of Inventory, Surplus of OffersThe CENTURY 21 spring selling survey shows there are plenty of serious buyers in the market who are actively making offers, but due to lowinventory and many houses receiving multiple offers, bidding wars are becoming more common.-- 33 percent of those searching for a home say they have been at it forover a year, while 67 percent have been searching for up to a year.-- Offers are being made, but not many are accepted: 42 percent of thosesearching for homes have made an offer in the past six months yet only 11percent have had their offers accepted.-- Current homeowners looking to buy are more than twice as likely tohave their purchase offer accepted as those who rent (15 percentvs. 6 percent). However, renters are nearly three times as likelyas homeowners to report that they made an offer but couldnt agreeon price (14 percent vs. 5 percent).Home World U.S. New York Business Tech Markets Market Data Opinion Life & Culture Real Estate Management C-SuitefacebookNews, Quotes, Companies, Videos SEARCH
  2. 2. "The recovery has transformed the mindset of many buyers and sellers who grew accustomed to the buyers market we saw for years," saidDavidson. "Right now, were in a situation where buyer confidence is building back up and demand is strong. As our survey indicates, sellersare now in a more favorable position."Buyers Are Willing to Make Compromises to Find Their HomeWith competition stiff among buyers, Century 21 Real Estates spring home selling survey reveals that many are willing to make compromiseson both the home itself and in the negotiations with the sellers in order to get their offer accepted.-- 85 percent of home searchers are willing to go above and beyond in orderto force the deal through. Of those willing to go above and beyond, thetop compromises theyd be willing to make are:-- 51 percent would be flexible with the closing time.-- 31 percent would compromise by purchasing the house as-is.-- 29 percent would compromise by putting more cash down than theyhad planned on.-- 85 percent of home searchers are willing to compromise onamenities/features.-- 58 percent would compromise on a built-in pool.-- 49 percent would compromise on a finished basement.-- 37 percent would compromise on an updated kitchen (e.g., stainlesssteel appliances).-- 37 percent would compromise on walk-in-closets.-- 88 percent of buyers are willing to compromise on location-relatedattributes.-- 42 percent would compromise on the length of their work commute.-- 36 percent would compromise on access to restaurants, shopping andgeneral conveniences.-- 35 percent would compromise on proximity to friends and family.MethodologyThis survey was conducted online within the United States from May 2 to May 6, 2013, among 2,058 adults ages 18 and older, of whom 365were identified as searching for a home to purchase, by Harris Interactive on behalf of Century 21 Real Estate LLC via Harris Quick Queryomnibus product. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring theminto line with their actual proportions in the population. Propensity score weighting was used to adjust for respondents propensity to beonline; a full methodology is available.About Century 21 Real Estate LLCCentury 21 Real Estate LLC (CENTURY21.com) is the franchisor of the worlds largest residential real estate sales organization, providingcomprehensive training and marketing support for the CENTURY 21 System. The System is comprised of approximately 7,100 independentlyowned and operated franchised broker offices in 74 countries and territories worldwide with more than 100,000 sales professionals. Century21 Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of realestate brokerage, relocation and settlement services.(c)2013 Century 21 Real Estate LLC. All Rights Reserved CENTURY 21(R) and the CENTURY 21 Logo are Registered Trademarks Owned ByCentury 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act..
  3. 3. Back to TopCustomer ServiceCustomer CenterNew! Live HelpContact UsWSJ WeekendContact DirectoryCorrectionsPolicyPrivacy PolicyData PolicyCopyright PolicySubscriber Agreement& Terms of UseAdsYour Ad ChoicesAdvertiseAdvertise LocallyPlace a Classified AdTools & FeaturesAppsNewsletters and AlertsGraphics & PhotosColumnsTopicsGuidesPortfolioOld PortfolioMoreRegister for FreeReprintsE-booksContent PartnershipsConferencesSafeHouseMobile SiteNews ArchiveEmail Printer Friendly Order Reprints Share:Get Maximum ReturnsInvest in OBJE & Enjoy The Big Returns. Visit Our Site for Details!www.ObsceneInteractive.comBank of America®Building Strong Local Businesses & Communities with LendingPrograms.bankofamerica.com/aboutNew Rule in NEW JERSEY:(JUN 2013): If You Pay For Car Insurance You Must Read ThisI di t lEach CENTURY 21 Office is Independently Owned and Operated.(1) National Association of Realtors April Existing Home Sales Report - May 22, 2013Contacts:Matt GentileCentury 21 Real EstatePh: 973.647.9042Email: Email ContactAngela GiovanelloMullenPh: 617.226.9921Email: Email ContactThe Wall Street Journal news department was not involved in the creation of this content.Editors PicksSubscribe / LoginWhy Dads Dont TakePaternity LeaveSouthern Europeans Fleeto GermanyGames Naked DefenseStirs ConcernYour New Secretary:An AlgorithmTalk Shows Made forYour Phone

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