In March 2009, Penn, Schoen & Berland Associates conducted an online poll with prospective first time homebuyers for Century21. This survey revealed some interesting facts about first time homebuyers concerns and market perceptions
The most interesting findings to emerge from this survey included the following:

• Despite widespread concern about the current state of economy more than three quarters (78%) of potential first-time homebuyers say that now is a good time to buy a home.
• Interest in home-buying is being driven by perceptions that home prices are particularly affordable right now.
• While current mortgage rates are considered to be affordable getting a home loan is a key obstacle for potential first-time buyers, as three quarters (75%) believe it is difficult to get a home loan right now.
• There is strong interest in taking advantage of the FTHB (first time home buyer) tax credit included in the stimulus bill, as 77% of potential buyers say the tax credit makes them more likely to buy a home in the next 6 months
• Real estate agents can play a vital role in helping first time buyers with the home buying process, as more than half (59%) of potential buyers rate their understanding of the real estate transaction process as only “fair” or “poor”

Among these findings, all respondents indicated that they were likely to buy their first home in the next two years. And despite the economic concerns, 86% said that they would buy their first home in the next 6 months. The interest in buying a first home also manifested itself across all age groups as 66% of the respondent perceived the current market as a “good market to buy” despite the declining economy.