HINTS FOR HOMEOWNERS For Many, The Right Time For Real Estate Is Now

(NAPSI)-If you've been thinking--or even just dreaming--about getting a new house, recent research in the real estate market may have some intriguing results for you. First, Fannie Mae found that two-thirds of Americans (65 percent) are still bullish on home ownership, preferring to own a home despite the challenging economic environment and the housing downturn. Next, there's the research conducted by MarketTools, Inc. for CENTURY 21® First-Time Home Buyer and Seller Survey. It captured and compared the opinions of prospective home buyers and sellers who either purchased or sold their first home within the past year or are planning to buy or sell their first home within the next year. The majority of survey respondents had moved or intended to move more than 10 miles but less than 50 miles from their previous location, indicating current market conditions may be a catalyst for buying or selling homes, as opposed to a desire to dramatically change geographic location or relocate for a job. "Buying a home, whether it's your first of subsequent purchase, is the single greatest financial decision that most people will make in their lifetime," said Rick Davidson, president and chief executive officer, Century 21 Real Estate LLC. "Research helps show that today's market presents a generational opportunity for home buyers and current home owners looking to leverage their market position." Current Market Conditions More than 80 percent of first-time home buyers and sellers feel the current housing market is more affordable today than at this time last year. This is despite the fact that 40 percent of all respondents are more worried about the economy now compared to this time last year. Federal tax credits and solid mortgage rates had a positive impact on driving people to take action. Re-establishing Balance A full market recovery takes time and current conditions continue to favor buyers. While buyers are excited about the opportunities in the current market, sellers note their main concern is losing money on the sale of their home and receiving offers near their asking price. When will the balance between housing need and inventory return? The real estate industry typically considers six months of inventory to represent a balanced market. According to the National Association of Realtors, the number of homes for sale currently represents approximately eight months of inventory and remains 11.6 percent below the record of 4.58 million homes for sale. First-time home buyers anticipate home prices will soon begin to rise and, in fact, about half of first-time buyers expect an increase by this time next year, thereby re-establishing better market equilibrium. Let an Expert Help Guide You Whether you're considering buying or selling a home, you may be interested to learn that 60 percent of first-time home buyers do not feel they have a good handle on the real estate process. Given both the complexity and the opportunity of today's real estate market, 85 percent of both first-time buyers and sellers feel that using a real estate professional is important. Allowing an experienced professional to help guide you can lead you to the home that's right for you, at a price you can afford. Learn More You can find further facts and tips online at www.century21.com/buyingadvice and by calling (866) 732-6139.

Word Count: 567 The real estate market is recovering and providing a powerful opportunity to act, studies show. Many prospective homeowners are taking advantage of today's positive price points and low interest rates. Copy/Paste HTML Article