About the Market

Despite current economic challenges, 83 percent of Americans still believe buying a home is a good financial decision, according to NAR’s 2009 National Housing Pulse Survey.

The survey also found that one-third of renters are thinking more about buying a home than they were a year ago. Many of them still need to save toward that goal – 82 percent of potential homeowners consider down payments and closing costs to be the greatest challenges to homeownership.

Financing the home purchase continues to be a concern, according to Pulse survey results; 70 percent of respondents reported a lack of confidence in their ability to be approved for a home loan. Talk to a Realtor® at Island Land Company today for the facts on what it takes to obtain a mortgage loan in today’s market.