Homeowners who bought at low-end most happy: HomeGain

by KERRI PANCHUK

Homeowners who acquired properties for less than $75,000 remain the most satisfied with their home-buying selections, according to a new study from online appraisal firm HomeGain.

The study says homeownership satisfaction rates are largely contingent on what the borrower paid and home price appreciation.

Emeryville, Calif.-based HomeGain made those conclusions in its 2012 Home Ownership Satisfaction Survey, which was compiled from data secured during interviews with 1,400 homeowners.

Seventy-two percent of those surveyed said they're satisfied with their home purchases. The remaining 28% are dissatisfied with homeownership and mostly blame their frustrations on depreciating home values.

Homeowners who acquired properties for more than $800,000 are the most unhappy, with only 69% satisfied with their buys. Comparatively, homeowners who bought properties for $75,000 or less have a 77% satisfaction rate.

HomeGain says owners who nabbed properties three to eight years ago are the least satisfied, while those who bought properties in the last three years or more than eight years ago are classified as happy.

It turns out buyers who acquired homes via short sales are content with that decision, pushing that segment of the homebuyer market to an 83% satisfaction rate. Following closely behind are the homeowners who acquired foreclosures. HomeGain says 79% of those buyers are satisfied with the deals they secured.

URL to original article: http://www.housingwire.com/2012/01/23/homeowners-who-bought-at-low-end-most-happy-homegain

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