A recent survey of home sales across the nation revealed that as many as 54% of all homes sold this year were bought by first time home buyers, way up from a normal market in which 35 to 40% of homes are sold to first time buyers. Given the current market climate, however, with pricing levels low, seller assistance programs available covering both closing costs and down payments, and with interest rates down, it only stands to reason that now is the time for first time home buyers to get out there and buy. In fact, today’s
young buyers may pay just as much for a mortgage than they would rent, a feat unheard of just a couple of years ago.
It’s a wonderful experience to help first time home buyers find their very first house or condo, especially at the closing table when there’s so much excitement and happiness about the transaction. But getting there is a very intricate process–from securing financing, to identifying suitable properties and finding sellers willing to help with needed concessions. That’s when our help can come in handy. We can help find lenders
who’ll secure appropriate programs and advise first time buyers on how to build their credit rating, if necessary. We’ll also work with new buyers to identify suitable properties, especially bank-owned, which may currently provide the bes pricing opportunity.
“Buy Now” is the current message being sent out by the National Association of Realtors for all buyers and investors. I’ll take it one step further: “Don’t wait to purchase your first home. The time has never been better.”