Joining Bullish Consumers in Their Optimism

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RISMEDIA, March 27, 2008-Even in the face of skepticism over the nation’s economy, more consumers are seeing opportunity in today’s housing market, according to a new survey commissioned by Beazer Homes, USA, Inc, one of the country’s top-10 homebuilders. Recognizing that the current market favors buyers, 77% of respondents said that with good credit and a down payment, the time is right to buy a home, a 20% upswing from a similar January survey.

“It’s reassuring to see an up-tick in consumer sentiment toward home ownership as spring arrives,” said Ian McCarthy, president and CEO of Beazer Homes. “Consumers recognize a good deal when they see it and they are increasingly more aware that you can get a lot more home in today’s market.”

Indeed, nearly three of four surveyed (74%) agreed that the availability of homes for sale combined with special incentives make this a true “buyer’s market.” And, more appear poised for action. Sixteen percent of survey respondents report that they plan to purchase a new home as their primary residence in the next 12 months — a 45% increase over the January survey results — and some 28% are currently saving for a down payment.

Seasoned homeowners, in particular, appear upbeat on the opportunities that exist for prospective homebuyers. Nearly three-quarters of experienced buyers surveyed — those who have purchased one or more homes - urge renters to buy a home as soon as he or she is financially able to do so. These experienced homeowners also are more likely to recognize the advantages of historically-low interest rates. Sixty-two percent of experienced buyers agree that current mortgage interest rates make this a “favorable time to purchase” a home compared with 44% of potential first-time buyers.

“Favorable mortgages are another reason for prospective buyers to take a serious look at a home purchase this spring,” said McCarthy. “Low interest rates combined with attractive pricing mean you can get a lot more home for your money.” To help simplify the mortgage approval process, Beazer teamed with Countrywide in March 2008 to deliver qualified buyers a wide range of financing options and dedicated customer service.

When it comes to purchasing their next home, seasoned buyers are looking for a better location (28%), a bigger home (25%) and more modern features (18%), according to the survey results. First-time home buyers rank the need for a bigger home (28%), investment potential (27%) and the desire for a better location (23 percent) as the primary motivations for their first home purchase.

For those who want to buy a new home now, Beazer is adding further enticement by offering special incentives on move-in ready and to-be-built homes in all its communities nationwide.

The survey of 1,006 adults nationwide, between the ages of 25 to 72 with minimum household incomes of $40,000, was conducted by MarketTools on behalf of Beazer Homes, March 10-13, 2008. MOE +/- 3 for all adults.

For more information, visit http://www.beazer.com/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

For Best Practices articles, see:

• How to Ease Intimidation 
  Why Now Is a Smart Time to Buy
  For Real Estate Professionals, the Opportunity Has Never Been Brighter

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