Survey Shows Real Estate Owners Upbeat
Mike Colpitts
July 21, 2008
Despite a decline in the majority of housing markets throughout the country, homeowners appear upbeat over the real estate market. According to the latest Housing Predictor survey, more than 2 out of 3 people polled plan on moving within the next seven years.
The online survey found that 40% of those who responded to the poll plan on moving within the next two years and that 28% more plan on moving into a new home or living environment in the next seven years. Apparently the time line will provide enough time for homeowners to either recoup financially what they have invested in their homes or they expect to have enough equity at that time to make a move.
The real estate boom, which produced double digit real estate inflation in the fastest appreciating markets, has resulted in an all-time record number of foreclosures, which is forecast to worsen over the next two and a half years.
The online poll appears to show that the majority of Americans are taking the real estate crisis in stride, despite seeing the equity in most of their homes diminish. An estimated 18-million homeowners are under water on their homes or owe more on their property than what they could sell it for in today´s marketplace.
Housing Predictor forecasts more than 250 housing markets in all 50 U.S. states and has maintained an accuracy level in its forecasts of more than 85% within a margin of error of 1-2 percent since it began forecasting markets in 2006. The online research company provides homeowners, investors and real estate professionals with news regarding conditions in markets and regularly updates forecasts. The research firm is an unbiased independent company and gathers all of the information on which it bases its forecasts without the assistance of any political or special interests.
Many housing markets have been declining for more than two years, especially in the hardest hit regions of the country like Florida, Ohio, Michigan, Nevada, California and other parts of the west. Some areas have yet to be fully impacted by the nation´s real estate crisis, including a variety of markets, which may experience little impact from the credit crisis fall out. Those markets are featured in Housing Predictor´s Top 25 Market Forecast.
To see the entire poll´s results, search real estate listings and check market forecasts visit
http://www.housingpredictor.com
The online survey found that 40% of those who responded to the poll plan on moving within the next two years and that 28% more plan on moving into a new home or living environment in the next seven years. Apparently the time line will provide enough time for homeowners to either recoup financially what they have invested in their homes or they expect to have enough equity at that time to make a move.
The real estate boom, which produced double digit real estate inflation in the fastest appreciating markets, has resulted in an all-time record number of foreclosures, which is forecast to worsen over the next two and a half years.
The online poll appears to show that the majority of Americans are taking the real estate crisis in stride, despite seeing the equity in most of their homes diminish. An estimated 18-million homeowners are under water on their homes or owe more on their property than what they could sell it for in today´s marketplace.
Housing Predictor forecasts more than 250 housing markets in all 50 U.S. states and has maintained an accuracy level in its forecasts of more than 85% within a margin of error of 1-2 percent since it began forecasting markets in 2006. The online research company provides homeowners, investors and real estate professionals with news regarding conditions in markets and regularly updates forecasts. The research firm is an unbiased independent company and gathers all of the information on which it bases its forecasts without the assistance of any political or special interests.
Many housing markets have been declining for more than two years, especially in the hardest hit regions of the country like Florida, Ohio, Michigan, Nevada, California and other parts of the west. Some areas have yet to be fully impacted by the nation´s real estate crisis, including a variety of markets, which may experience little impact from the credit crisis fall out. Those markets are featured in Housing Predictor´s Top 25 Market Forecast.
To see the entire poll´s results, search real estate listings and check market forecasts visit
http://www.housingpredictor.com
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