The Real Estate market hit a down turn in 2007, but that doesn’t mean that people aren’t buying homes. According to Dean Graziosi, the great real estate expert, people are out buying homes but their requirements are changing. People who are in the home buying market look for several factors in the areas they are looking at, and list these factors in order of importance. The most important of these factors that concerns a home buyer is crime rate. According to a survey done by Harris Interactive, people focus on low crime rate neighborhoods and prefer these areas for their future home.
The study also shows that about 50% of current home buyers look for daily convenience, and proximity to their work place. They are also going to focus on areas that have low property taxes. What has really changed? Homebuyers are not as interested as they were a few years ago in cultural and recreational amenities, but they are more interested in environmental features like energy saving appliances, and even solar heating.
Energy concerns have become a key element with today’s home buyers, and this may be because of the rising costs of energy. Almost half of those surveyed stated, that features like low usage water heaters, solar panels, and energy saving appliances were important to them.
Of course features that have always been important like, number of bedrooms, bathrooms, storage areas are just as important today as they were 5 and 10 years ago. The important thing to realize as a home seller is to understand what buyers are really looking for, so that you can fulfill their needs.
What Dean Graziosi is saying, is that the news is not so bad as it is made out to be. There are still home buyers out there, and there are great real estate deals out there too. But focus on what is important to today’s generation and the market is still fair.