Home Owner Satisfaction Remains High

Daily Real Estate News | Monday, January 23, 2012

Nearly three out of every four home owners say they are satisfied with their purchase – and the No. 1 reason for their satisfaction is pride they feel about owning a home, according to HomeGain’s 2012 National Home Ownership Survey.
In addition to pride, home owners also said they enjoy the freedom and control they have to make improvement and upgrades to their home.
Of the 1,400 home owners surveyed nationwide, satisfaction was found to be highest in the Northeast at 77 percent, followed by the Southeast at 73 percent, the West at 71 percent, and the Midwest at 68 percent.
“The HomeGain 2012 National Home Ownership satisfaction survey shows in spite of declines in the values of homes nationwide, satisfaction among home owners remains high at 72 percent,” said Louis Cammarosano, general manager of HomeGain.
Of the 28 percent of surveyed home owners who indicated they are dissatisfied, price depreciation was cited as the primary cause. Other reasons for their discontent include property taxes, homeowner association fees, and maintenance and repairs.
Noteworthy survey statistics:
  • Home owners who paid less than $75,000 for their home were the most satisfied at 77 percent.
  • Home owners who paid more than $800,000 were least satisfied at 69 percent.
  • Buyers who purchased a home via short sale had the highest satisfaction rate at 83 percent, followed by foreclosed home buyers at 79 percent.
  • New-home buyers had a satisfaction rate of 73 percent, and existing-home buyers had a satisfaction rate of 71 percent.
  • Home owners ages 55-65 were the most satisfied at 76 percent. Home owners between 18 and 25 had the lowest satisfaction rate at 45 percent.
By Erica Christoffer, REALTOR® Magazine

Short Sale Fraud Rising, Freddie Mac Wants Your Help

Unfortunately, there’s been an increase of fraud in the real estate world!  For more information read about it HERE .

Be aware of any unusual happenings, and find tips to help prevent short sale frauds’ continuous rise!

Buyer Beware

Think you’re immune to online schemes?  Don’t answer too quickly.  You could find that more than once you’d been so close to being the next online-scandal victim.  When it comes to purchasing a house based on an advertisement from the not-always-so-honest web, it’s imperative that you check things out.
1.  Try trusting your instincts
If something sounds off, it probably is!  You might  have a feeling that a situation is just not measuring correctly.  Don’t just assume that it’s fake, though, or even vice versa.  Find factual reasoning behind that feeling, and then take action accordingly.
2. Be sure to check the advertiser’s sources
Numbers or any other contact information listed should be available to you.  No contact information?  That could be hint.  When you do come in contact with the owner, ask detailed questions and expect to get answers.  Also, when you go to view a home, it’s usually important to eventually see the inside.  If that’s not allowed, it could be a red flag.
3.  Make sure it all adds up
Found a home that’s perfect you AND has the perfect price?  Feeling it’s too good to be true? Well, possibly.  Check the worth of neighboring homes to find if your jewel is being under-priced.  This could easily be a sign of false play.
Getting scammed isn’t hard, but neither is trying to avoid it.  It’s the little things that  are often forgotten (checking numbers, verifying stories)  that could make or break your online-buying experience.  Validate the information you’ve got, and you’ve just avoided being someone else’s free paycheck.
For more information, please view this Consumer Alert issued in 2009. Online Rental Ads Could Be Phony
Cassia Preston