property Tag

National Association of Realtors (NAR) released a profile of home buyers and sellers. It was interesting to see of the over 5700 respondents just what buyers are looking for in their search. Knowing this makes the realtors more attuned to the market and better to meet their client’s needs. The quality of the neighborhood, convenience to the job, and overall affordability are the top three factors. Nothing really new but interesting enough among families with children under 18 residing in the home, 46 percent chose based on school district quality, down from 55 percent last year. Southern California those figures are of course a bit higher, closer to 53 percent but still down, just a point or two. Today’s buyer are in fact staying longer in their home that they purchase. The typical buyer expects to stay in their home 12 to 15 years, up from 8 to 10 years. However it seems younger buyers (22-26 years) are more mobile and look to stay only 5 years.