Internet Home Buyers More Savvy

Internet House Hunters are more satisfied with their buys
A new study of Internet versus traditional home buyers shows some very interesting findings. The study was conducted by the California Association of Realtors, and concludes that Internet home seekers tend to be younger, wealthier, and more ethnically diverse than traditional buyers. These buyers also felt that they were more in control of, and understood more of the home buying process, and knew more of what they wanted before they actually saw any homes. This resulted in greater satisfaction with their purchase.
Internet buyers spent more time researching and investigating before contacting a realtor. While research ultimately saves the buyer and the realtor time, Internet users should always realize that finding a home is only the beginning of the home buying process. Your realtor acts on your behalf, and negotiates to get you the best deal, and guides you through the morass of legalities and post-offer processes that change often and are almost always confusing to buyers.
Other findings:
*51% of all Internet buyers reported that the information they received from the Internet was less useful than the information provided by their realtor. In other words, it's a good place to start, but you should finish with a qualified realtor.
*77% of Internet buyers and 70% of tradtional buyers received a 4 or 6 year degree.
*Married couples constituted the majority of both Internet and traditional buyers
*A higher proportion of Internet buyers were first time homebuyers (11%) compared to 6% of traditional buyers.
*The median price of homes purchased by Internet buyers was $452,000, significantly higher than the median of $310,000 for traditional home buyers. This was a California study, so the prices may be higher than here, but the percentage spread would likely be similar here. More info, see www.car.org