Today’s Home Search and Mortgage Financing Survey

About 40% of homebuyers will start their process online, and only 20% will start by contacting a Realtor^®. Finding the right home is one of the most important and most challenging parts of the homebuying process. However, most buyers waste an incredible amount of time finding the right home online instead of having a Realtor do it. There’s no perfect home, but a Realtor will help buyers find the best home possible according to their indicated preference, price, time, geographical location and other logistical factors. Realtors are of great value.

Listen to this episode hosted by Blaine Rada as he shares home search and home purchase financing surveys from NAR homebuyer and seller reports to give you a clear perspective on the experiences home purchasers typically go through — so you can help them make the best decisions possible.

Tune in!

During this episode, you will learn about:

[00:31] Introduction to today’s show.

[00:40] Today’s focus: Home search and financing purchase surveys.

[02:31] The process of searching for a home.

[03:11] The importance of Realtors in finding the right home.

[06:01] Narrowing down and working with one Realtor.

[08:43] Being a referral source and referring Realtors to a buyer.

[10:34] Financing a home purchase through a mortgage.

[11:18] First-time and repeat homebuyers’ typical down payments.

[13:53] The increasing appreciation of home value and the declining ability to save.

[14:46] Financial sacrifices first-time buyers make to buy a home.

[16:26] Purchasing a home as a good financial investment.

[17:49] Ending the show.

Notable

• The most challenging part of financing a home is coming up with a down payment.
• Accumulating money for the down payment is a significant barrier to homeownership.
• People will do extraordinary things when necessary to become homeowners.
• There’s a big difference between needs and wants.
• Most buyers continue to see purchasing a home as a good investment.