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American Home launches correspondent loan department

Jan 26, 2006

Survey reveals an emotional process for first-time homebuyersMortgagePress.comFirst-time homebuyers Consumers who decide that it's time to buy or sell a home often find themselves on an emotional roller coaster of wonderful highs and frustrating lows. From dreaming of the perfect home, to negotiating the best deal, to packing the boxes and moving, buying or selling a home can be one of the most significant decisions people will ever make--financially and emotionally. A recent survey commissioned by RealEstate.com asked more than 2,000 first-time homebuyers to shed some personal insight on the many emotions, experiences and expectations they had during their first-time home buying experience. For most consumers, the journey begins with dreaming of homeownership. That initial step brings with it the task of setting a budget and scaling expectations, and according to survey results, 41 percent of first-time homebuyers are first turning to the Internet to research home listings. Other key findings included: †Even after planning and setting expectations, homebuyers still find themselves feeling unsettled during the process. Thirty percent were ill-at-ease with the time and effort they spent obtaining a mortgage, followed closely by those who found themselves very anxious during the time spent in limbo between making the offer and closing on the house (29 percent). †Sixty-two percent of homeowners cited "being patient with the home-buying process" as paramount to staying sane throughout the process, an accomplishment that's easier said than done. †Thirty-nine percent of new homeowners said spending the first night in their new home was the emotional high point of the experience, while 28 percent cited finally closing on the house as the best part. †Forty percent of new homeowners said window coverings were the priority for their first night in a new home. †Eight percent said celebratory champagne on the first night is a must. †Repainting walls is the first home improvement 38 percent of new homeowners make. †Although 15 percent say they're too broke after buying to make any changes, 14 percent start with renovating the bathroom or kitchen. †Most homeowners say they moved across town (44 percent), while nine percent relocated to another state. For a copy of the survey, visit www.realestate.com.
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Jan 26, 2006
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