Posts Tagged as Statistics (page 3)

What Does the Average Home Buyer Look Like?

Short Sale Sellers Back in the Real Estate Market

During the worst of the real estate crisis in 2009, 45% of all homes sold nationally were foreclosures or short sales. But in the last quarter, sales of bank-owned properties reached their lowest level since early 2008. What’s more, thousands of home sellers are now outside the three-year penalty period and in the position to once again secure a Federal Housing Administration (FHA) Loan. Supply may be down, but demand is increasing as many families are now able to rejoin the ranks of homeownership. Across the country, short sale sellers are back in the real estate market.

Once the three-year waiting period (from the short sale closing date) has passed, homebuyers can obtain another FHA mortgage for as little as 3.5% down, the shortest route for buyers with less than 10% down.

The alternative – a conventional loan – requires up to a seven-year wait for less than a 10% down payment. That time reduces to four years with 10% and just two years if the buyer can put 20% down.

While conventional lenders often want to know the circumstances surrounding a short sale, the FHA loan is non-discriminatory after the waiting period has passed.

The biggest hurdle for these former home owners is time, and that hurdle is gone now for many of them. However, according to the Federal Reserve Bank of San Francisco, only 30% of borrowers who defaulted on their mortgages in 2001 had taken out another mortgage by 2011. There are plenty more considerations besides time and money; home loss takes a significant emotional toll, as well.

New contracts for home sales this year have been at their highest level in three years. With 2013 figures thus far having showed that the housing sector is in recovery, agents can start looking at a whole new group of return buyers, who are once again able, even if perhaps not quite yet willing, to become home buyers once again. May 2014 bring even more positivity to the housing market.

Profile of Home Buyers and Sellers

The Informed Agent – NAR statistics

Years ago, if you wanted to buy a house, the first thing you’d do was pick up a local newspaper. Those days are officially over. According to the latest NAR statistics, only 1% of home buyers find their house this way anymore. Still, 27% do actually look through the home classified ads in the newspaper in conjunction with more preferred home search methods, such as the internet (90%), through an agent (87%), yard signs (53%) or visiting open homes (45%). At the end of the day, 42% are more likely to sell a home by listing on the internet, as opposed to the newspaper. Do you know these important facts? Are you an informed agent?

Perhaps of even greater interest is that fact that a prompt response is one of your strongest weapons as an agent. The first agent to respond to a home seller usually gets the listing. Sixty-six percent of sellers go with the first agent they contact.

Are you using video to sell homes for your clients? If not, you should be. 73% of homeowners say they’re more likely to list with a realtor offering to do a video, yet only 14% of agents create listing videos.

The internet is the most popular place to advertise a listing – 93% of agents market their listings on the internet. This is followed in popularity by yard signs (79%) and open houses (55%). Syndication sites are used by 28% of agents, and 7% are now using social networking sites to market their listings.

Technology increasingly helps real estate sales happen. It provides real estate agents with a competitive edge, reduces lag time in responding to clients (buyers and sellers), makes an agent appear more current, saves time and money, and more. It’s understandable, then, that 48% of agents and associate brokers would like their broker to expand the amount of technology provided.

SOURCE: The Broker Report

Profile of Home Buyers & Sellers

2012 NAR Profile of Home Buyers and Sellers Statistics

The annual report I value most is the NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers. This report is packed full of useful statistics for agents and brokers who are looking to educate themselves about the sales process from the perspective of the Home Buyer and Seller. It clearly shows where agents should be focusing their marketing dollars (hint: not the newspaper) and also provides important details about the Buyers and Sellers experience during the sales transaction.

The annual report I value most is the NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers. This report – just released on 11/10/2012 is packed full of useful statistics for agents and brokers who are looking to educate themselves about the sales process from the perspective of the Home Buyer and Seller. It clearly shows where agents should be focusing their marketing dollars (hint: not the newspaper) and also provides important details about the Buyers and Sellers experience during the sales transaction. To purchase the complete report, you can visit the REALTOR.org store. If your a REALTOR you can download the report for $19.95 or purchase the printed and bound version for $50.00.
Here are the highlights:
  • 39 percent of recent home buyers were first-time buyers, a slight rise from 2011, but closer to the historical norm of 40 percent.
  • 65 percent of recent home buyers were married couples—the highest share since 2001. Conversely there was the lowest share of single buyers since 2001.
  • For 52 percent of home buyers, the first step in the home-buying process was taken online.
  • The typical home buyer searched for 12 weeks and viewed 10 homes—a decline from 12 homes in prior year, which speaks to the tightened inventory in many areas.
  • 89 percent of buyers purchased their home through a real estate agent or broker, similar to last year’s report—a share that steadily increased from 69 percent in 2001.
  • 88 percent of sellers were assisted by a real estate agent when selling their home.
  • Only 9 percent of recent sellers sold via FSBO sale. Among FSBO sellers who did not know the buyer prior to the sale—20 percent sold via FSBO because the buyer directly contacted them.
  • Approximately two-thirds of home sellers only contacted one agent before selecting the one to assist with their home sale.

The Importance of Tracking Your Agent Website Statistics

An important part of running a website – any website – is periodically checking your website statistics. After you’ve done everything you can to promote your website, including search engine optimization and social media marketing, you need to check and see if your efforts are paying off, and fine-tune your marketing efforts accordingly.

An important part of running a website – any website – is periodically checking your website statistics. After you’ve done everything you can to promote your website, including search engine optimization and social media marketing, you need to check and see if your efforts are paying off, and fine-tune your marketing efforts accordingly.

To help you stay on top of your real estate marketing campaign, each of our real estate websites comes with advanced website statistics. Our stats are live – you can see what’s happening right now – and they allow you to track not only where your visitors are coming from, but what they are doing on your site.

You can see which pages get the most page views, where your visitors are staying the longest (and where they bounce off right away and leave your site), and where they click on your links.

With our detailed graphs and charts, you can tell if your real estate marketing campaign is working and check your ROI.

Knowing what your traffic is doing can help you focus your most important content to the pages that get the most traffic. It can also help you see where you need to make improvements to your site  – which pages need additional tweaking to get more page views.