WASHINGTON – May 31, 2013 – A spring home selling survey conducted by Harris Interactive on behalf of Century 21 Real Estate found that 33 percent of people currently searching for a home have been on the hunt for more than a year – and that the vast majority are willing to negotiate with sellers and make compromises to find their next home.
The survey finds that home offers are being made, but not many accepted: 42 percent of those searching for homes have made an offer in the past six months, yet only 11 percent have had their offers accepted.
However, current homeowners are more than twice as likely to have an offer accepted than current renters (15 percent vs. 6 percent). However, renters are nearly three times as likely as homeowners to report that they made an offer but couldn’t agree on price (14 percent vs. 5 percent).
“The recovery has transformed the mindset of many buyers and sellers who grew accustomed to the buyers’ market we saw for years,” says Rick Davidson, president and CEO of Century 21.
Of the 85 percent of buyers willing to compromise to get a home:
• 51 percent would be flexible with the closing time
• 31 percent would compromise by purchasing the house as-is
• 29 percent would put more cash down
• 58 percent would compromise on a built-in pool
• 49 percent would compromise on a finished basement.
• 37 percent would compromise on an updated kitchen
• 37 percent would compromise on walk-in-closets
• 42 percent would compromise on the length of their work commute
• 36 percent would compromise on access to restaurants, shopping and general conveniences
• 35 percent would compromise on proximity to friends and family
© 2013 Florida Realtors
Reprinted with permission. Florida Realtors®. All rights reserved.