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Survey: Affordability matters most to first-time buyers

Real estate technology brief
Published on Aug 21, 2008

A survey of 150 Coldwell Banker real estate brokers revealed that affordability is the prime concern for first-time home buyers. Eighty-one percent of brokers reported that first-time buyers consider move-in condition to be very important in their home search while 7 percent reported first-time buyers are seeking "fixer-upper" properties. About 71 percent of broker reported that first-time buyers are seeking larger homes now than buyers a decade ago, and 41 percent reported that proximity to the workplace is a top attribute that buyers are seeking. Thirty-five percent of brokers reported that investment is the top reason that first-time buyers are purchasing and 46 percent reported that first-time home buyers view an average of five to 10 homes before making a purchase. *** What's your opinion? Leave your comments below or send a letter to the editor. ...

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