University of Phoenix
Real Estate Research Week 2
Real Estate provides individuals with a source of investment for his or her future. Owning a piece of real estate could be a business investment, or in the case of this research, a home for an individual or a family. When a person purchases a home there are many things to consider. The most common information to review is square footage, price, amount of bedrooms, bathrooms, and whether the house has a garage. Validating this information versus other statistical review is very important. The buyer must have the necessary information to make the best decision. The data needs to have the widest range of necessary information to give the buyer the largest amount of property to choose from that will fit their criteria.
With the housing market struggling and home buyers becoming pickier, the question that needs to be addressed is, what are home buyers looking for? In an article entitled “What home buyers really want” written by Dana Dratch this question is researched in order to find out just what the average homeowner finds important, not important, and what their willing to pay in order to get it.
In order to gather the information needed to research this topic a six-page questionnaire was sent to 25,000 home buyers who purchased their homes between 2003 and 2004. The findings from these questionnaires were based on almost 1,500 responses to the questionnaire. The information from the questionnaires was input into various data sets and analyzed. Items such as mean hose price and amenities that home buyers were looking for was a major part of the statistical information that was analyzed.
The data that was collected and researched for this article showed that seventy percent of the home buyers questioned ranked a garage as very important (Dratch, 2005). As a matter of fact more buyers wanted a garage than a living room. It was...