The Home Buyers We are Seeing in Anchorage, Eagle River and the Mat-Su Areas right now
by Dan Wolf
on Tuesday, January 15th, 2013 at 11:15am.
From the phone calls we've received this year it appears that there are a fair number of couples looking to buy a home this year, both first time buyers and 'move-up' buyers. In a quick interoffice poll we found that dual income married couples seem to be the predominate home shoppers right now. Roughly two out of three purchasers are married.
A typical first time home buyer is 31 years old and purchases a home with with approximately 4 percent down payment on their homes according to a recent poll. Buyers tend to start the process by looking at homes online. Once they pick an agent they are comfortable working with they view an average of ten properties together before they make an offer on a home.
The most common loans selected by buyers are fixed rate mortgage loans, chosen 93% of the time.
Real estate is poised to continue it's ongoing recovery thorough this year. Mortgage rates remain near their all-time lows and home prices are extremely attractive right now. The monthly cost of home ownership is at near historic lows with interest rates being so attractive.
Over the past twelve months there has been a steady growth in the percentage of of consumers with positive home price expectations. According to Fannie Mae (FNMA) 72 percent of polled buyers say now is a good time to purchase real estate; Just ten percent of adults believe home prices will fall, putting those folks in a solid minority. Over 70 percent of survey respondents say they'd prefer to buy a home over renting a home. One reason is that most people expect average rents to go up almost four percent over the next year.
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