According to a recently conducted survey, a large number of people looking to buy Del Mar luxury homes  had no plans to take advantage of the first-time or repeat home buyer tax credit.

The said survey was conducted earlier this year and was designed to identify the factors which affect the decision of home buyers. The respondent chosen were those who are searching or saving for a new home, or those who recently purchased a home.

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Out of those respondents who are searching for or considering of buying a home, 63% or approximately two-thirds believes that it is a buyer's market. While a little more than half, 54%, feels that the mortgage rates are within your means. 70% thinks that there are affordable homes on the market. At least 49% of the surveyed feels that the economy is giving them more room to negotiate. On the other hand, a mere 39% of those who were surveyed had any plans to take advantage of the tax credit before it expired on April 30, 2010.

There has been a lot of assumption going on about the housing market after the tax credit extension expires. The tax credit was a great motivating factor, especially for those planning to buy Del Mar luxury homes. But that's not the only motivating factor, people buys homes for lifestyle reasons. The normal seasonal pattern of home buying is still expected to prevail now that the tax credit has expired.

For more information on Del Mar Luxury Real Estate for sale, contact:

Shawn Hethcock

Willis Allen Real Estate - Hethcock & Rodger

(858) 755-2280 or (858) 755-6761

valeriepekar@shawnrodger.com