Three months ago, real estate agent Gary Rogers says he was conducting a fairly routine home sale. [...]]]>

–

“REALTORS® care about improving communities through smart growth initiatives,” said NAR President Ron Phipps, [...]]]> Americans
favor walkable, mixed-use neighborhoods, with 56 percent
of respondents preferring smart growth neighborhoods
over neighborhoods that  require more driving
between home, work and recreation. That’s according to
a  recent study, the Community Preference Survey,
by the National Association of 
REALTORS®.

“REALTORS® care about improving
communities through smart growth initiatives,” said NAR
President Ron Phipps, broker-president of Phipps Realty
in  Warwick, R.I. “Our members don’t just sell
homes, they sell neighborhoods.  REALTORS®
understand that different home buyers are looking for
all kinds of  neighborhood settings and that many
home buyers want walkable, transit- accessible
communities.”

Walkable communities are defined as
those where shops, restaurants, and local 
businesses are within walking distance from homes.
According to the survey,  when considering a home
purchase, 77 percent of respondents said they
would  look for neighborhoods with abundant
sidewalks and other pedestrian-friendly  features,
and 50 percent would like to see improvements to
existing public  transportation rather than
initiatives to build new roads and
developments.

The survey also revealed that while
space is important to home buyers, many are willing to
sacrifice square footage for less driving. Eighty
percent of those  surveyed would prefer to live in
a single-family, detached home as long as it
didn’t  require a longer commute, but nearly three
out of five of those surveyed – 59  percent – would
choose a smaller home if it meant a commute time of 20
minutes  or less.

The survey also found that
community characteristics are very important to most
people. When considering a home purchase, 88 percent of
respondents placed  more value on the quality of
the neighborhood than the size of the home, and 77 
percent of those surveyed want communities with
high-quality schools.

The survey of 2,071 adult
Americans was conducted by Belden, Russonello and 
Stewart from February 15-24, 2011.
[email supplied]

Mortgage rates fell again this past week, along with the lower yields on Treasury bonds, reports Freddie Mac. Average interest on 30-year fixed loans declined to 4.87 percent from 4.95 percent a week earlier, and the 15-year fixed home loan rate slipped to 4.15 percent from 4.22 percent.

The first decline in five weeks drove mortgage interest to near historically low levels once again as the 30-year fixed rate averaged 5.07 percent for the week ended April 15, down from 5.21 percent a week earlier. Freddie Mac also reports that the 15-year fixed rate averaged 4.40 percent, down from [...]]]> Thankfully, Rates Drop

The first decline in five weeks drove mortgage interest to near historically low levels once again as the 30-year fixed rate averaged 5.07 percent for the week ended April 15, down from 5.21 percent a week earlier. Freddie Mac also reports that the 15-year fixed rate averaged 4.40 percent, down from 4.52 percent; one-year adjustable-rate mortgages averaged 4.13 percent, down from 4.14 percent; and interest on the five-year ARM came in at an average of 4.08 percent compared to 4.25 percent.

[SOURCES: Information, Inc.; Freddie Mac]

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