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What did home buyers and sellers look like in 2014?

70s photoTimes are changing all around us, seemingly faster and faster. Fashions some of us loved went out of style, came back as retro, then went back out of style again. There is an entire generation now for whom buying a music album doesn’t actually involve any buying any physical item what so ever, but instead just a collection of electrons.  And still some things stay the same. Despite some really amazing advances in virtual reality, there’s still no better way to enjoy a summer day than to be out in it.

Real estate has seen its own share of changes. The 2014 Homebuyer Survey, put out by the National Association of Realtors, documents some of those changes for 2014. Some of these changes have been really positive. The internet has given home buyers a revolutionary amount of control over the buying process. For 43% of home buyers, the first step on the journey towards their new home was an internet search. And a full 93% of home buyers used the internet at some point in their buying process. That means that real estate has seen some of the highest rates of technology saturation of any industry that existed before our recent technology boom. While sometimes difficult to adapt to, these technological changes give home buyers and sellers unprecedented access to information and give real estate professionals more tools to help people in the buying process. Here at McInturf Realty we’re making constant strides to have the most relevant, helpful and powerful real estate tools in the Tuscarawas Valley.

trend photoPerhaps counter-intuitively, this technological process hasn’t reduced the usefulness of real estate agents. Just the opposite, actually. In fact, while 93% of home buyers used the internet, 98% of buyers found their real estate agent to be a helpful source of information. Additionally, 88% of buyers purchased their home through a real estate agent or broker, a percentage that has steadily increased from 69% in 2001. At least one additional reason why more and more people are selling their homes through real estate professionals is made clear in the report. Homes sold by real estate agents last year sold for an average of 13% more than houses sold without the help of an agent.

family photoOf course, not all the news is good. Last year thirty three percent of home buyers were first time buyers, down from the historical norm of forty percent. Much of this reduction in the purchasing ability of first time buyers can be traced back to constrictions in the availability of home loans that occurred after the market crash several years ago. But even here there are hopeful signs. If you follow the McInturf Realty Facebook page, we posted an article there a few days ago about how Fannie Mae and Freddie Mac are issuing some new guidelines for lenders that should make it easier for buyers without absolutely perfect credit and a hefty twenty percent down payment to still be able to own their dream home.

All in all, this is a great time to be involved in real estate. With new tools, new trends and a positive outlook, there’s no reason not to let McInturf Realty help your family find the perfect place to live!

 

 

Photo by RomitaGirl67

Photo by Fylkesarkivet i Sogn og Fjordane

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1110 Tuscarawas Avenue NW

New Philadelphia, Ohio 44663

Phone: (330) 364-6648

Fax: (330) 364-2355

email: makethecall@mcinturfrealty.net