Times are changing & so are the habits and expectations of buyers and sellers!

Home ownership has once again garnered favor with the mass majority of American. In fact about 75% of voters favor continuation of the current mortgage interest write off. Members of Congress that choose to vote against the mortgage interest write off will have a hard time getting reelected. About 96 % of current home owners are proud and happy to own their own home.

There are growing signs of these effects of these revelations. Builder confidence is now at the highest level since 2007. New home starts have grown in numbers month after month.

We are now nearing the end of the best buying season. Prices and competition for homes is low but buyers are once again beginning to search for a home. We are in the midst of a seven week stretch in which interest rate have been below 4%. We continue to set new historic low rates.

There have been major changes in how buyers look for a home. 89% of home buyers currently use the services of a Realtor. Just 10 years ago in 2001 only 69% of home buyers worked with a Realtor. Another recent development is buyers choosing not to work with a duo agent. This is an agent that represents both the buyer and seller in the same transaction. About 60% of buyer have a written agreement prohibiting duo agency. The mass majority of home buyers are now searching for their home online. This number has grown every year for over a decade. Another interesting fact is that the average home buyer will contact 7 Realtor before settling on the person they choose to work with.

These statistics may not be precise since I am repeating information that has been shared at one or many seminars. The point are clear though!

Your Friend & Realtor,

Tony Lewis RE/MAX of Valencia www.TonyLewis.com tonyglewis@yahoo.com 661-510-7975

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