Survey Says Buyers of Las Vegas Homes Seek Affordable Prices and Mortgage Rates

According to a recent survey conducted by Better Homes and
Gardens Real Estate, a large number of people looking to buy Las Vegas homes
had no plans to take
advantage of the first-time or repeat home buyer tax credit.

The said survey was conducted earlier this year and was
designed to identify the factors which affect the decision of home buyers. The
respondent chosen were those who are searching or saving for a new home, or
those who recently purchased a home.

Out of those respondents who are searching for or
considering of buying a home, 63% or approximately two-thirds believes that it
is a buyer’s market. While a little more than half, 54%, feels that the
mortgage rates are within your means. 70% thinks that there are affordable
homes on the market. At least 49% of the surveyed feels that the economy is
giving them more room to negotiate. On the other hand, a mere 39% of those who
were surveyed had any plans to take advantage of the tax credit before it
expired on April 30, 2010.

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There has been a lot of assumption going on about the
housing market after the tax credit extension expires. According to Sherry
Chris, CEO of Better Homes and Gardens Real Estate, the tax credit was a great
motivating factor, especially for those planning to buy Las Vegas homes. But that’s not the only motivating factor, people
buys homes for lifestyle reasons. The normal seasonal pattern of home buying is
still expected to prevail now that the tax credit has expired.