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http://www.trulia.com — Trulia.com (http://www.trulia.com (http://www.trulia.com) ), a top site for homebuyers, sellers and renters, and RealtyTrac (http://www.realtytrac.com (http://www.realtytrac.com/) ), the leading online marketplace for foreclosure properties (http://www.trulia.com/) , today released the latest results of an ongoing survey tracking homebuyers’ attitudes toward foreclosed homes. Results of the survey conducted online from
As a result of the recent robo-signing debacle, half of U.S. adults expressed that they now have less faith in mortgage lenders (http://www.trulia.com/mortgages/) , banks and the government. Another 35 percent believe the robo-signing issue will delay the housing market’s recovery, while only 6 percent of U.S. adults think the robo-signing issue will have no effect on the recovery of the housing market (http://www.trulia.com/) .
When Americans think the housing market will recover:
—————————————— % of American adults who believe housing will Year recover —————————————— Already recovered 4% —————————————— 2010 1% —————————————— 2011 10% —————————————— 2012 27% —————————————— 2013 24% —————————————— 2014 12% —————————————— 2015 or later 22% ——————————————
“More and more, American homeowners, sellers and buyers are tamping down their expectations for a swift recovery in the housing market and bracing themselves for a long, slow climb back to a healthy real estate market (http://www.trulia.com/) . Fifty-eight percent believe recovery will happen after 2012 and more than one in five U.S. adults believe recovery won’t happen until 2015 or later,” said
Under Water and Out of OptionsNearly half (48 percent) of homeowners with a mortgage (http://www.trulia.com/mortgages/) admitted that they would consider walking away if their mortgage was under water, an increase compared with
If they became unable to pay the mortgage payments (http://www.trulia.com/mortgages/) on their current primary residence, two-thirds of U.S. adults with mortgages said they would consider calling the lender (http://www.trulia.com/loan/) and trying to modify the terms of the loan as their first option. The next most popular solution is to have a tenant move in to contribute to the mortgage, but only 10 percent of U.S. adults would do this.
Interest in Buying a ForeclosureNearly half (49 percent) of U.S. adults are at least somewhat likely to consider purchasing a foreclosed property (http://www.trulia.com/) , up from 45 percent in
————————————————————– Top Concerns Among Those with Negative Sentiment toward Buying a Foreclosure
Expected Discount on Foreclosure PurchaseTwo-thirds (67 percent) of U.S. adults would expect to pay at least 30 percent less for a foreclosed home than a similar home that was not in foreclosure (http://www.trulia.com/) , and one-third of U.S. adults (35 percent) would expect to pay at least 50 percent less for a foreclosed home. Overall 97 percent of U.S. adults would expect at least some discount on a foreclosed home.
“It seems like consumer expectations and market realities are beginning to align when it comes to foreclosure discounts,” said
To listen to a replay of
To view and download infographics presenting the results of the survey visually, click here (http://www.flickr.com/photos/truliavisuals/) .
About Trulia, Inc.Trulia.com (http://www.trulia.com/) is the most comprehensive real estate (http://www.trulia.com/) site focused on empowering you with smarter tools to help you find the right home. Whether you are an active buyer, seller or real estate enthusiast (http://www.trulia.com/voices/) , Trulia gives you all the information you care about from rich property data to a personalized search experience. We are focused on helping you find the home that truly meets your needs, and delivers on what’s most important for you. Ultimately, we built a smart real estate search (http://www.trulia.com/) experience bringing together local information, community insights, market data and national listings all in one place, all for you.
About RealtyTrac Inc.RealtyTrac (http://www.realtytrac.com/home/) is the leading online marketplace of foreclosure properties (http://www.realtytrac.com/home/) , with more than 1.5 million default, auction and bank-owned listings (http://www.realtytrac.com/foreclosure/reo/reo-bank-owned-homes.html) from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate. RealtyTrac’s foreclosure data (http://www.realtytrac.com/trendcenter/) has also been used by the
About Harris InteractiveHarris Interactive is one of the world’s leading custom market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll and for pioneering innovative research methodologies, Harris offers expertise in a wide range of industries including healthcare, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Serving clients in over 215 countries and territories through our North American, European, and Asian offices and a network of independent market research firms, Harris specializes in delivering research solutions that help us — and our clients — stay ahead of what’s next. For more information, please visit http://www.harrisinteractive.com (http://www.harrisinteractive.com) .