Home buying on the web

We pay our bills online and shop for financial products on the web. We buy books, CDs and movies on our computers. Many of us do our weekly grocery shopping online.

But would you buy a new house on the web? According to the Prudential California Realty Online Homebuyer's Survey 2006, many of us would.

Thirty-one percent of Bay Area homebuyers believe it is likely that people may consider buying a home on the Internet in the future without ever seeing it in person, according to a survey released today by Prudential California Realty. The findings demonstrated a shift in attitudes as consumers increasingly utilize the Internet in their home search.

"The idea that some buyers may buy a home over the Internet without actually viewing it is not as far-fetched as it would have seemed several years ago as buyers become more active and involved in the transaction through websites," said Sherry Chris, COO of Prudential California Realty. "This is particularly true for the vibrant market in the Bay Area where competition for homes is often strong and good listings can be snapped up quickly."

With Bay Area home prices among the highest in the nation, this idea is especially surprising. Would you spend $750,000 on a home, sight unseen?