Keeping Families in Their Homes Should Be a Priority During New President's First Hundred Days
10 Novembro 2008 - 3:05PM
PR Newswire (US)
New President Expected to Restore Confidence in Housing Markets,
American Dream of Homeownership is Alive and Well in America LOS
ANGELES, Nov. 10 /PRNewswire-FirstCall/ -- Half of all Americans
(50%) say President-elect Obama should make helping troubled
homeowners avoid foreclosure a priority during his first 100 days
in office, according to a new national survey(1) commissioned by
Move, Inc., (NASDAQ:MOVE), the leader in online real estate and
operator of Realtor.com(R), the #1 homes for sale Web site.
Conducted by GfK Custom Research North America three weeks before
the Presidential election, the survey found that one out of five
Americans (22.7%) believe making more affordable mortgage credit
available, and one out of seven (16%) believe helping first time
homebuyers buy a home, should be priorities in the President's
first 100 days related to helping homeowners. The survey also found
half of all Americans (52.6%) believe the election of a new
President (28.5%) and a decline in the foreclosure rate (24.1%)
will do more to instill confidence in the housing markets than
making more mortgage credit available (19.9 %), even though a
majority (81.6%) of Americans say the availability of affordable
mortgages is a serious problem for home buyers. "Belief that a new
presidency will benefit home buyers and sellers echoes findings of
the Harris Interactive Survey(2) Move commissioned last May which
found nearly half of all home buyers (44%) believe the housing
markets will improve once the new President takes office," said
Move, Inc., President Lorna Borenstein. "The same Harris survey
found most buyers (69%) were also nervous about economic conditions
in the housing market. Consumers are looking for an event, like a
new president, to ignite their confidence in the housing market.
While today's challenging housing market has affected many,
findings from this newest survey tell us the American dream of
homeownership is alive and strong." Based on the GfK Custom
Research North America survey, more than two thirds (69.6%) of
identified home buyers (37.4%) say they've held off buying a home
because of the overall economic condition (40.7%), while 28.1% of
home owners have sold or know someone who has recently sold a home
for less than they wanted. However, approximately five percent of
consumers (4.7%) said they plan to buy a home in the next 12
months, about three times the percentage that actually bought this
year(3) and another 17.7% plan to buy a home in one to five years
from now. According to the survey, one-fifth of the population
(20.3%), approximately 57 million Americans(4), plan to purchase a
home in five plus years, with many potential first time home buyers
ages 18 to 24 (64.4%) and 25 to 34 (65.3%) saying they are "very
interested in buying a house in the future." "Our search data in
the third quarter of 2008 shows hundreds of local real estate
markets are experiencing dramatic year-over-year increases in
search activity on Realtor.com," said Errol Samuelson, president of
Realtor.com. "Markets like Las Vegas, NV (41%), Detroit, MI (16%)
and Miami, FL (35%)(5) are a few of the hundreds of local markets
attracting significant year-over-year increases in consumer
searches by potential home buyers. This increased activity and
interest tells us consumers are exploring and using Realtor.com to
keep a watch on home prices, values and listing availabilities in
local markets. Because Realtor.com is the leading real estate Web
site, it can serve as a gauge to watch for consumer trends,
especially as it relates to reflecting interest in local markets."
In spite of current conditions in the housing market, interest in
real estate remains high as consumers are visiting real estate Web
sites. According to the GfK Custom Research survey, consumers visit
online real estate Web sites to find home values (61.5%), homes for
sale (60.9%), to monitor price trends (53.3%), to find a real
estate agent (42.4%) and to find financing (36.3%). Samuelson said,
"Online real estate will be at the forefront as the housing market
rebounds. The newly redesigned Realtor.com sets the new standard in
online real estate. As potential buyers and sellers visit
Realtor.com as one of their first steps, they'll find a wide array
of relevant resources such as home valuation, home finance,
neighborhood details and connections to local Realtors(R)
seamlessly integrated with the largest and most trusted collection
of online property listings." The results of the survey are based
on interviews conducted from October 10 - 12, 2008. A total of
1,004 interviews were completed, 523 with female adults and 481
with male adults. The margin of error on weighted data is [+/-] 3
percentage points for the full sample. The survey was conducted by
OmniTel, in a weekly national telephone omnibus service of GfK
Custom Research North America. The raw data are weighted by a
custom designed computer program, which automatically develops a
weighting factor for each respondent. This procedure employs five
variables: age, sex, education, race and geographic region. Each
interview is assigned a single weight derived from the relationship
between the actual proportion of the population with its specific
combination of age, sex, education, race and geographic
characteristics and the proportion in our sample that week. Tabular
results show both weighted and unweighted bases for these
demographic variables. ABOUT REALTOR.COM(R) REALTOR.com(R), where
the world shops for real estate online, is operated by Move, Inc.,
(NASDAQ:MOVE) and is the official Web site of the National
Association of REALTORS(R). Ranked as the #1 homes-for-sale site,
REALTOR.com(R) currently offers potential home buyers access to
over four million property listings, as well as the most brokers
and agents. It also provides REALTORS(R) and the home sellers they
represent with the Internet's largest real estate marketplace,
reaching more than 4.9 million consumers in September 2008(6).
Agents and companies have the power to customize REALTOR.com(R)
resources to maximize their brand and productivity. REALTOR(R) and
REALTOR.com(R) are registered trademarks of the NATIONAL
ASSOCIATION OF REALTORS(R). REALTOR(R) is a federally registered
collective membership mark, which identifies a real estate
professional who is a Member of the NATIONAL ASSOCIATION OF
REALTORS(R) and subscribes to its strict Code of Ethics. All other
trademarks appearing above are the property of Move, Inc., or of
their other respective owners. ABOUT MOVE, INC. Move, Inc.
(NASDAQ:MOVE) is the leader in online real estate with 7.1
million(6) monthly visitors to its online network of websites.
Move, Inc. operates: Move.com(R), a leading destination for
information on new homes and rental listings, moving, home and
garden and home finance; REALTOR.com(R), the official Web site of
the National Association of REALTORS(R); Welcome Wagon(R);
Moving.com; SeniorHousingNet(TM); and TOP PRODUCER(R) Systems.
Move, Inc. is based in Westlake Village, California, and employs
more than 1600 individuals throughout North America. For more
information: http://www.move.com/. (1) GfK Custom Research North
America, commissioned by Move, Inc., October 10 - 12, 2008 (2)
Harris Interactive Survey, commissioned by Move, Inc., 5/23/08 (3)
NAR August 2008 Existing Homes Sales Report (4) 2000 US Census (5)
Realtor.com Search Statistics, September '08 (6) comScore Media
Metrix, September 2008 (Logo:
http://www.newscom.com/cgi-bin/prnh/20080213/MOVEINCLOGO)
http://www.newscom.com/cgi-bin/prnh/20080213/MOVEINCLOGO
http://photoarchive.ap.org/ DATASOURCE: Move, Inc. CONTACT: Julie
Reynolds, +1-818-264-5594, , or Steve Cook, +1-202-257-3652, , both
of Move, Inc. Web Site: http://www.move.com/
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