PARSIPPANY, NJ, Feb 21, 2012 (MARKETWIRE via COMTEX) –
A recent survey over 600 Coldwell Banker Real Estate professionals
in the United States revealed home buyers and sellers are adjusting
expectations and “getting real” about real estate in 2012. More than
half (51 percent) reported that sellers are more willing to price
their homes more competitively than this time last year, and 45
percent said sellers are more willing to change the appearance of
their homes to entice buyers than they were one year ago.
Sellers More Willing to De-clutter, De-personalize and Make Repairs
Of those Coldwell Banker professionals surveyed:
-- 94 percent say their sellers are getting rid of clutter and making
cosmetic updates, such as fresh paint and minor repairs.
-- 78 percent agree clients are willing to "de-personalize" the home.
-- 59 percent say sellers are even bringing in new home decorations or
furniture to help make the home more appealing.
“De-personalizing and making it easy for a buyer to imagine him or
herself living in the property is crucial, especially when there are
many homes on the market,” says Jessica Edwards, Coldwell Banker Real
Estate Consumer Specialist. “Within the past year, Sellers were more
willing to price their homes competitively and took my advice to make
their home inviting and appealing to a broad cross-section of
potential buyers.”
Buyer Preferences are Back to the Basics
Sellers, take note: when it comes to selecting a home, buyers are
going back to the basics. They value new or updated kitchens,
bathrooms and open floor plans as the most important features for a
new home.
-- 33 percent of surveyed agents say that a new or updated kitchen is the
most important feature to homebuyers.
-- 14 percent say the most important feature to homebuyers is an open
floor plan, while 12 percent say it is a new or updated bathroom.
-- Only 1 percent of the real estate professionals surveyed say they
believe that entertainment rooms or finished basements are the most
important feature.
Home Buyers Moving for Babies and Careers
The survey also drilled down into which life events are motivating
the most people to buy homes. According to the Coldwell Banker Real
Estate professionals surveyed, growing families and job relocation
are currently the biggest drivers for home buyers in the U.S.
70 percent of real estate professionals say a new baby or growing
family is the “most common,” or a “very common” reason buyers search
for a new home.
-- 69 percent say relocation for job reasons.
-- 59 percent say marriage.
-- 48 percent say divorce.
-- 37 percent say retirement.
“The survey shows that today’s buyers are recognizing the true value of
a home,” says Budge Huskey, president and chief operating officer,
Coldwell Banker Real Estate LLC. “This shift is critical as we return
to the home serving as an investment in our lifestyles where the
emotional and psychological benefits are of at least equal value to
the pure economic investment.”
Survey Methodology: Coldwell Banker Real Estate conducted an online
survey among 691 Coldwell Banker real estate professionals across the
United States about housings trends in 2012. The survey was fielded
between January 24 and February 7, 2012.
The base (sample size) for calculating results varies slightly from
question-to-question. The approximate sample size answering each
question was 615. Maximum error range based on this sample size — at
a 95% level of confidence — is +/- 4 points. Note that standard
error calculation applies to random probability samples and is
included herein to serve as a guide-only.
*Some answer percentages in the above may not total 100 percent, if
only the most popular responses are listed. In other cases,
respondents had the option to check all that apply, which may mean
that percentages total more than 100 percent.
About Coldwell Banker(R)
Since 1906, the Coldwell Banker(R) organization has been a premier
provider of full-service residential and commercial real estate.
Coldwell Banker is the oldest national real estate brand in the
United States and today has a network of nearly 87,000 sales
associates and brokers working in approximately 3,100 offices in 49
countries and territories. The Coldwell Banker brand is known for
creating innovative consumer services as recently seen by being the
first national real estate brand to augment its web site
www.coldwellbanker.com for smart phones, the first to create a iPhone
application and the first to fully harness the power of video in real
estate listings, news and information through its Coldwell Banker On
Location(SM) YouTube channel. The Coldwell Banker system is a leader
in specialty markets such as resort, new homes and luxury properties
through its Coldwell Banker Previews International(R) marketing
program. Coldwell Banker Real Estate LLC fully supports the
principles of the Fair Housing Act and the Equal Opportunity Act.
Each office is independently owned and operated.
Media Inquiries:
Heather Roberts
Coldwell Banker Real Estate LLC
973.407.5590
Email Contact
Dianne Falaguerra
CooperKatz for Coldwell Banker Real Estate LLC
917.595.3058
Email Contact
SOURCE: Coldwell Banker Real Estate LLC
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Article source: http://www.marketwatch.com/story/coldwell-banker-real-estate-survey-reveals-sellers-more-willing-to-price-competitively-in-2012-2012-02-21