What is the number 1 reason home buyers are moving?
This might surprise you...given the recession we are experiencing. The main reason home buyers are moving is to live in a bigger or better home!
Why? Lower home prices and rents as well as the federal income tax credit for first-time home buyers have both influenced decisions to "move up".
A survey commissioned by Relocation.com found home buyers moved for the following reasons (in order from most important to least important):
1. Live in a bigger/better home
2. Live in a better neighborhood or area
3. Be closer to family or friends
4. Live in an area with a lower cost of living
5. Change in marital status
6. Because of school, job loss, retirement or foreclosure
In the Raleigh-Cary area, move-up home buyers relocating to the Triangle has slowed down considerably. This is partially due to fewer employment opportunites. It is also greatly affected by the fact that many potential out-of-town homebuyers cannot buy here because they cannot sell their current homes.
Kwik Kwote: "Failure is an event, never a person." --William D. Brown
Know Your Real Estate: "APPRECIATION"...an increase in the value of property. Some reasons are inflation, increased demand for the property, remodeling and removal of factors pulling the value down.
To SEARCH FOR HOMES in the Cary-Raleigh area of North Carolina, visit the Wake County Real Estate Center. Or, email me at tim@timhaag.com. Or, for a no pressure chat, call me at 919-389-7135
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