OK here are the results to my survey.
I emailed to over 1200 people and only 19 people responded. THANK YOU!
What do you think will happen to housing prices in Monmouth County in the next 12 months? 42% felt it will stay flat.
Starting with you last answer, please place ONE check mark in the following columns to "graph" where you think housing prices will be at the end of each of the next five years in Monmouth County relative to current prices (Dec. 2007). 50% felt that the price will drop 3% to 5% in 2008. Everyone felt that the value of houses will start going up in 2010.
What is your timeframe for buying a home? 46% will be buying in 2 years which also seem to corroborate the above numbers.
Given the uncertainty about where housing prices and interest rates are headed in the future, which of the following best characterizes your feelings: 30% of you were please that you did not buy in 2007.
If you are leaning towards using a traditional full-commission, full-service broker, would you be interested in any of the following: This answer intrigues me as the National Association of Realtors say that most do NOT know which realtor they will be using in the future. Here 55% of you know who you will be using to sell and/or purchase a house. [I hope this it will be me :)]
I found this to be very enlightening for me as a Realtor. It seems that the media has definitely dampened the real estate market and that everyone is holding back.
Just as an aside when everyone is thinking of purchasing in 2 years from now then all the great low prices will have started to go up based on this survey; might I suggest your consering purchasing NOW with interest rates at their lowest in 45 years along with the house prices that have dropped. Just my 2 cents worth.
Thank you to all who have taken the time to fill out the survey which is only a few minutes long.
If you would like to add to the survey here is the link:Click Here to take survey">Monmouth County Survey 2008