Here in Carlsbad we would like to think the worst of the Carlsbad Real Estate Market is behind us. The reality is we cannot conclude this with finality yet with so many “loose ends” out there like distressed properties and a distressed economy. There are a lot of rays of hope though and from the recent activity I see in my Carlsbad Real Estate Office, something besides writing these blogs is keeping us busy. For those considering buying or selling Carlsbad Real Estate soon, here are some of the more interesting findings from the California Association of Realtors (C.A.R.) 2010 Survey of California Home Buyers.
- First-time buyers made up 46% of the 2010 purchasers. They made up 38% in 2009, only 7% in 2002.
- 3/4 of the 2010 first-time buyers said the federal home buyer tax credit had an impact on their decision to buy.
- Home buyers who bought an REO/bank-owned property increased to 41% in 2010 from 38% in 2009.
- Home buyers who bought a short-sale home increased to 16% in 2010 from 13% in 2009.
- Regular market sales decreased to 43% in 2010 from 49% in 2009.
- 23% of 2010 home buyers believe their neighborhood will go up in value over a year. In 2009, only 8% believed this.
- On a scale of “1” to “10” with “1” being “very easy” to obtain financing and “10” being “very difficult”, home buyers reported an average of 8.5 in 2010, compared to 8.1 in 2009.
- Top 2 reasons home buyers were satisfied with their agent: 1) Always quick to respond (74%), 2) Negotiated good deal on their behalf (69%).
- Top reason home buyers are dissatisfied with their agent: Not negotiating aggressively.
- % of home buyers who would use their same agent again in the future = 72%.