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Survey Reveals Gender Differences in Home-Buying Behavior

When it comes to searching for a home online, women and men take very different approaches. According to a new survey by Obeo, a provider of online residential real estate marketing products, women spend more time searching online, view more homes, and prefer features such as photos and 360-degree tours to help them in their search. The findings:
• 41 percent of women and 25 percent of men began their home search online;
• Men were more likely to contact a real estate agent (28.5 percent) to initiate their home search than go online (25 percent).
• 52.6 percent of women and 45 percent of men searched 21 or more homes online.
• When purchasing a home, price was the most important factor to consider for both women and men, but 13.2 percent of men said their first priority was the size of the home, compared to only 4.4 percent of women; and
• 94 percent of women […]
More can be found here.

July Existing-Home Sales Show Gains

Existing-home sales, including single-family, townhomes, condominiums and co-ops, increased 3.1 percent in July to a seasonally adjusted rate of 5.00 million units from June but were 13.2 percent lower than the 5.76 million units estimated in July 2007, NAR reported this morning. The sales increase was the highest in five months, although sales have hovered in a narrow range over the past 11 months.
The national median sale price of existing homes was $212,400 in July, down 7.1 percent compared to a year ago when the median was $228,600. Housing supply rose 3.9 percent to 4.67 million existing homes available for sale at the end of July, which represents an 11.2-month supply at the current sales pace. NAR says the increase in supply may be due to an increase in condo inventory while the supply of single-family homes declined.
Three of the four regions saw improvement. Existing-home sales climbed 9.7 percent in […]
For the full story click here.

First-time Buyer Expectations Conflict with Affordability: Survey

I saw a good post this morning.

While many first-time homebuyers are concerned about affordability when shopping for a home, their expectations for move-in conditions may be too high for their financial circumstances, according to a new Coldwell Banker broker survey.
Nearly half of the brokers surveyed said affordability was the number one concern for this group, and 81 percent said today’s first-time homebuyers consider move-in conditions to be very important when shopping for a home. Only 7 percent said first-timers look for a “fixer-upper” to purchase at a lower price that they can renovate. Other key findings:
– 71 percent of brokers said first-time homebuyers are looking for larger homes than they were 10 years ago.
– According to 41 percent of respondents, proximity to their job is the number one attribute that buyers look for in a home.
– More than one-third of respondents (35 percent) said first-time homebuyers make a home purchase for investment purposes.
– 46 percent of […]
Read the rest of this great post here.

Condo foreclosures hurt others, too

I found an interesting post today on www.msnbc.msn.com.

When too many condominium owners lose their units to foreclosure, condo associations feel the financial pain.

To read it in its entirety, click here.

Realtors peddle homes to bike-happy clients

I came across a good post today on www.msnbc.msn.com.

With gas prices high, bicycles flying out of stores and a buyers’ market for houses, a handful of real estate agents around the country are touting the two-wheeled appeal of their listings.

Visit the blog to keep reading…

Mortgage rates at lowest in more than a month

Rates on 30-year mortgages didn’t budge this week, while rates on other home loans were a mixed bag.

Here’s a link to the rest of this write-up.

McCain opens first Massachusetts headquarters in Boston - NECN

www.necn.com had a good post today.

CBS News

McCain opens first Massachusetts headquarters in BostonNECN, MA - 14 hours ago(NECN) - John McCain took a day off yesterday, but his campaign opened its first headquarters in Massachusetts. Some Democrats protested outside the Boston …Video: Mitt Romney At The DNC? CBS

Republican State of the States 2008: Massachusetts CQPolitics.comRomney Says McCain Earned His Homes and Obama Didn’t ToTheCenter.comUnited Press International - Boston Heraldall 1,366 news articles

For the complete post go here.

Mortgage applications up for first time in weeks

Business News: CBSNews.com did a great write-up today on www.msnbc.msn.com.

U.S. mortgage applications rose for the first time in three weeks as interest rates edged lower, an industry group said on Wednesday.

Read the rest of this great post here.

Boston, Massachusetts Weather :: 70F Partly cloudy

Partly cloudy 70°F

Humidity:
51%
Wind Speed:
15 MPH
Wind Direction:
NNW (330°)
Barometer:
29.89 in.
Dewpoint:
51°F
Heat Index:
77°F
Wind Chill:
70°F
Visibility:
10 mi

Source: www.rssweather.com

Builders getting creative to help homebuyers

Homebuilders are always trying to sell their homes, but these days they have an extra incentive — beating the clock.

For all the details click here.