40 Percent of Homeowners Take First Loan Offer

An online poll of more than 1,300 homeowners by LendingTree and Harris Interactive indicates that 40 percent made a purchase after receiving only one mortgage loan quote, and 96 percent said they comparison shop except when it comes to mortgages.

The survey also indicates that just 28 percent believe they received the best deal on their mortgages.

About 70 percent of respondents found comparing terms and the process of comparison shopping to be frustrating, and 10 percent spent only a matter of minutes looking for the best deal.

“Our research clearly shows that home buyers and homeowners need help navigating the often complex world of home loan financing,” says LendingTree CEO Doug Lebda.

Source: Housing Wire, Jon Prior (12/14/10)

Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC

Owners, Practitioners Think Prices Will Fall

About 48 percent of real estate professionals and 33 percent of homeowners believe home prices will decline over the next six months, according to a survey by HomeGain.

Only 10 percent of real estate professionals and 18 percent of homeowners believe home prices will increase in the next six months.

Sellers continue to doubt the accuracy of prices recommended by practitioners, with 79 percent believing that their homes are worth more than professional appraisals.

On the other side of the fence, 69 percent of practitioners say that their home-buying clients think homes for sale are overpriced.

Source: Real Estate Economy Watch, Steve Cook (09/21/2010)

Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.

Banks Again Offering Home Equity Lines

Now might be a good time for homeowners who still have plenty if equity in their home to tap into it.

Lenders are again writing home equity lines of credit, says MortgageBot, which processes real estate loans.

Homeowners with more than 20 percent of equity in their homes may find the HELOC a better source of emergency cash than a credit card as long as they don’t exhaust their equity.

Source: CNNMoney.com, Linda Stern (12/14/2009)

Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.

Home Owners Would Spend Tax Credit Wisely

A survey of homeowners by Coldwell Banker Real Estate found that 20 percent said they were more likely to consider purchasing a new home after learning about the $6,500 tax credit than they were six months ago.

Of the more than 1,000 homeowners surveyed, 83 percent said that if they were to purchase a home and qualify for the tax credit, they would pay off debts, make home improvements, add it to savings or use the money for household expenses.

Only 6 percent said they would spend the money on a luxury item like a vacation or a shopping spree.

Source: Coldwell Banker Real Estate (12/16/2009)

Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.