Are more Americans positioning themselves for home purchase? Although May’s data showed that home sales were down 26.8% as the home buyer tax credit concluded, a new survey conducted by Relocation.com suggests some families are opting for renting while they research—cash in hand—for deals on a new, more desirable home in their area.
Among the key findings of the survey: Of the 60% of individuals moving into rentals, 24% were previous homeowners who are renting temporarily while they look for a new home to purchase. Underscoring this finding is the fact that for many of these families, foreclosure was not the reason for moving—in fact, the number of consumers who moved due to foreclosure dropped by 70%.
Furthermore, many of these families stayed in the area (one in three made a short distance move of 100 miles or less), opting to remain in a location where they already know their schools, shopping districts and prime neighborhoods.
“While the housing market continues to flux from month to month, we’re seeing strong, continued interest as consumers looking to move start their research with us,” said Relocation.com Chairman and Founder Sharon Asher. “These findings suggest that more Americans may be poised to re-enter the housing market this year.”
The Relocation.com survey was conducted in early June 2010 and is a continuation of consumer surveys conducted since March 2009 to gauge moving and relocation attitudes and behaviors.
We all know that our Metroparks are out there, but answer this – how many of them have you actually stepped foot in? This incredible regional asset is great for newcomers and life-long Toledoans alike. Metroparks of the Toledo Area is a regional system of premier natural, historical and cultural parklands totaling 10,500 acres! The park district’s mission is to enhance our quality of life and inspire preservation efforts. Why not visit soon, and take the kids with you! For a taste of programs and what you can do in the Metroparks this summer, go to www.metroparksprograms.com.
If you are new to the Toledo Area, please contact Joyce DeLucia, the Danberry Co.’s relocation counselor, for information. Thinking about moving? Click here for information about moving to Northwest Ohio.
We all know that the federal tax credit opportunity ends at midnight Friday. That’s the deadline for have contracts fully executed, and then we need to get them closed by the end of June. But what if you find the perfect Toledo real estate listing on Saturday . . . or Sunday or Monday?
Some well-meaning people feel that it’s no big deal to bend the rules; they may be tempted to back-date a contract to April 30th in order to qualify for an $8,000 or $6,500 gift from Uncle Sam. Don’t ask a Realtor to participate in that scheme! The Danberry Co. will not. It may seem harmless, after all, what’s a day or two, especially over a weekend when you probably wouldn’t even make a mortgage application? What’s the difference? You would be asking your Realtor to risk losing his or her license. You would be engaging in tax fraud, and the federal government has teeth. You don’t even want to think about the fines and yes, prison time.
So let’s get back to positive topics. Those tax credits may be disappearing, but where does that leave us? It leaves the Toledo real estate market facing terrific conditions! Interest rates remain at historically low levels, despite predictions that they are on the rise. Our listing inventory remains high, meaning great housing choices. Many prices are at the lowest level in years. And now we enter our traditionally strongest spring market. So come on out and join us at a Danberry open house. We’d love to discuss the housing opportunities-Toledo homes for sale and the surrounding market property listings- available to you right now!
