Thursday, February 14, 2008

New Survey Says "Smart Time to Buy"

RISMEDIA, Feb. 14, 2008-Despite all of the negative commentary about the housing and credit markets, 64% of Americans believe that for those with good credit and a down payment “this is an ideal time to buy a home,” according to a study commissioned by Beazer Homes, one of the country’s top-10 homebuilders. Perhaps with an eye toward the future, 24% of survey respondents-from Gen Y to Baby Boomers-say they plan to buy a new home in the next two years either as a primary residence or second/vacation home.

“We know the American consumer believes with great conviction that home ownership is a smart investment over the long term,” said Ian McCarthy, president and CEO of Beazer Homes. “Savvy consumers realize that housing is a cyclical industry and some appear to be waking up to the opportunities that do exist in today’s marketplace. Whether they act on this conviction remains to be seen, but the underlying sentiment bodes well for the industry.”

Across the board, consumers appear optimistic about the availability of home mortgage options. For experienced buyers, 75% believe there are plenty of mortgage options available for those with good credit compared with 53% of first-time buyers. When it comes to securing a home mortgage, 24% of total respondents report they are currently saving for a down payment.

Beazer Homes surveyed 548 adults nationwide, Jan. 4-7, 2008, between the ages of 25 to 72 with a minimum annual household income of $40,000.

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