In spite of last year’s downturn in the real estate market, 23 percent of American families still plan to purchase a home
within the next five years, according to a survey commissioned by Move, Inc. About half of those prospective home purchasers are first-time buyers. But even repeat buyers are becoming more interested in buying a home again.
The survey also revealed that about 21 percent of homeowners with a mortgage
have contacted a lender to pursue the restructuring of their mortgage loan. This will help to create long term stability in
the overall real estate market. About 18 percent of prospective home buyers plan to buy a home this year, despite the challenges they face. A key reason for that decision is the currently available $8,000 tax credit passed by Congress
as part of the economic stimulus package. Record low mortgage interest rates and lower home prices are also major buying incentives.
Owning a home is still one of the best long-term investments a family can make, and right now is the
best time for homebuyers to take the plunge.
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