This Is Why Being a Homebuyer Really Sucks Right Now

Filed under: News, BuyingIts not fun being a homebuyer these days. Weve heard about rampant bidding wars all over the place and rapidly rising home prices -- which means homebuyers are having difficulty snagging the homes they want, and the ones they do get arent as cheap as they might have been a few years ago. (Of course, all of that sounds pretty good for the people selling!)Just how tough is the market out there for buyers? According to a new survey by real estate firm Century 21, pretty tough. Get a load of these numbers:o. 33 percent of people currently looking for a home have been house hunting for more than a year.o. 67 percent have been on the hunt for up to a year.o. 42 percent of house hunters have put an offer on a home in the past six months -- but only 11 percent of those have had their offers accepted.o. That old adage "location, location, location" is becoming less important: 80 percent of homebuyers say they would compromise on a location-related benefit such as commute, proximity to friends and accessibility to restaurants and entertainment in order to snag a home.Heres a handy infographic from Century 21 breaking down the shifting mindset of homebuyers in a market overwhelmingly favoring sellers:More about homebuyers:More Young Couples Say I Do to Buying a Home Before Marriage Renters Looking to Own Are Ready to Buy, Survey Says 5 Key Steps to Your 1st Real Estate Purchase More on AOL Real Estate:Find out how to calculate mortgage payments.Find homes for sale in your area.Find foreclosures in your area.See celebrity real estate.Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook. #fivemin-widget-blogsmith-image-134057{display:none;} .cke_show_borders #fivemin-widget-blogsmith-image-134057, #postcontentcontainer #fivemin-widget-blogsmith-image-134057{width:570px;height:411px;display:block;}try{document.getElementById("fivemin-widget-blogsmith-image-134057").style.display="none";}catch(e){}  Permalink | Email this | Commentshttp://realestate.aol.com/blog/on/homebuyers-face-sellers-market/ @ uwad.com