AOL Real EstateBy ADAM of Adsenselover.com
DULLES, Va. -- According to a survey from AOL Real Estate and Zogby International,
more than 50% of Americans believe the dream to own a home is still attainable for most citizens,
while 43% of Americans surveyed said they spend more than 30% of their household budget on housing,
which according to the U.S. Department of Housing and Urban Development (HUD) indicates they are "
cost burdened." These are just some of the many findings from a new interactive survey of Americans
age 18 or older that investigates how Americans view a wide range of issues - from home
ownership to housing costs, financial concerns and shopping for a home.
"The market is constantly evolving and it is more important than ever for home owners
and buyers to research and understand their local market dynamics before making decisions," said
Alan Steel, GM of AOL Real Estate. "As our survey results show, the Internet is an essential resource
and the first choice for buyers, sellers and renters who are seeking information."
Other top-line survey findings include:
Are Americans House Poor?
With so many Americans using a large percentage of their budget for housing, the survey found that 22%
of participants would lose their house or apartment with an unexpected short-term job loss and 30% are
working paycheck to paycheck to cover housing costs. Additionally, 30% of Americans know someone who
has gone through or is being forced to sell their home due to a foreclosure.
American Views on Home Values
Despite the troubles some Americans are facing, 31% of participants feel their home is worth more than
it was a year ago and 56% do not think their home will be worth less in five years. This optimism
continues with 69% of Americans seeing as a viable investment. If forced to sell their
home today, half would buy another home rather than rent; roughly half of Americans would seriously
consider purchasing a home through a foreclosure listing.
How Americans Search for Homes
When looking for a home, 67% of Americans surveyed turn to the Internet first. In addition,
communities with low crime, high-quality schools, recreational facilities and an easy driving
commute to work all are key factors that influence a home purchase, with some Americans willing
to pay a premium on top of their housing to reduce their commute time by half. Additionally, 83%
of participants value the local media's coverage of crime in specific communities and cite the
coverage as a major influence into where they would purchase a home.
The Value of Home Improvement
For those who are not interested in selling or purchasing a home this year, 16% say they are
planning a major home remodeling project, such as putting on a new addition. They believe
that making any type of home improvement can increase the value of their home in today's market.
The full survey results can be found at
AOL Real Estate (http://jobslover.com). The
AOL Real
Estate site offers a comprehensive collection of home and apartment listings,
information, tools and advice for buyers, sellers, renters, investors, people
planning on buying a vacation home or even current homeowners.
Survey Methodology
Interviewing for the
AOL Real Estate-Zogby International survey was conducted among
a national sample of 6,678 adults ages 18 and older. Interviews were conducted
February 15, 2008 through February 18, 2008. Members of the online Internet panel
were recruited by Zogby. The margin of error is plus or minus 1.2 percentage points.
About AOL
AOL is a global Web services company that operates some of the most popular Web destinations,
offers a comprehensive suite of free software and services, runs one of the largest Internet
access businesses in the U.S., and provides a full set of advertising solutions. A majority-owned
subsidiary of Time Warner Inc., AOL LLC and its subsidiaries have operations in the U.S., Europe,
Canada and Asia. Learn more at jobslover.com.
About Zogby International
Zogby International is a public opinion, research, and business solutions firm with experience
working in more than 70 countries around the globe. Founded and led by John Zogby since 1984, Zogby
International ranks as one of the industry's leaders thanks to its reputation for superior accuracy
and reliability. Zogby specializes in telephone, Internet, and face-to-face survey research and analysis
for political, corporate, non-profit, and governmental clients. The firm is headquartered in Utica, New York,
with offices in Washington D.C., Miami, and Dubai, United Arab Emirates.
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"The real estate market is constantly evolving and it is more important than ever for home owners and buyers to research and understand their local market dynamics before making decisions," said Alan Steel, GM of AOL Real Estate."As our survey results show, the Internet is an essential resource and the first choice for buyers, sellers and renters who are seeking information."
