First Time Home Buyers: The Housing Market's Key Players
 | (NewsUSA) - First-time homebuyers, more than any other demographic, stand to benefit the most in today's real estate market.
In fact, a recent survey commissioned by Move.com reveals that 23 percent of adults plan to purchase a home in the next five years and that more than half of them (53.5 percent) will be first-time homebuyers. Consider that every time a renter buys a home, they make possible a chain reaction of transactions worth many times more than the actual value of the home they purchase. Because first-time homebuyers aren't selling properties, they don't put new homes on the market when they buy. As a result, first-time homebuyers reduce real estate inventories and allow existing owners to trade-up or relocate. The growing number of first-time homebuyers suggests that conditions are finally attracting buyers back despite the critical picture in the overall economy. In the past, high prices and large down payments made buying a home for the first-time difficult. The right mix of attractive listing prices, tax credits, improved financing and a wide choice of properties seems to be attracting the first-time buyer. For first-time homebuyers looking to be players in today's real estate market, Move.com offers the following tips: - Research Your Market. All real estate is localized and the key to a successful purchase is to know the market. In fact, the real estate market is so localized that prices among similar homes vary greatly even between neighboring towns. - Make a list of what you want. Let your realtor know your criteria in order to find homes that meet your needs. You can go to Realtor.com to view homes that fit your specifications. This will give you an idea of what is possible in your price range and in the location you prefer. - Get pre-approved. Although not a final loan commitment, a pre-approval letter can be shown to listing brokers when you are bidding on a home. It demonstrates your financial strength and shows that you have the ability to go through with a purchase. Lenders can be found in the finance section of Realtor.com. - Make a decision. Once you find the best home that fits your needs, take action. Homebuyers often hesitate, and this could mean you miss the best home that meets your needs. If you have chosen a good mortgage broker and a sharp realtor, you should have the facts to make the right decision. |
More Resources
Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting
More Real Estate Information:
- Group 1
- Group 2
- Group 3
- Group 4
- Group 5
- Group 6
- Group 7
- Group 8
- Group 9
- Group 10
- Group 11
- Group 12
- Group 13
- Group 14
- Group 15
- Group 16
- Group 17
- Group 18
- Group 19
- Group 20
- Group 21
- Group 22
- Group 23
- Group 24
- Group 25
- Group 26
- Group 27
- Group 28
- Group 29
- Group 30
- Group 31
- Group 32
- Group 33
- Group 34
- Group 35
- Group 36
- Group 37
- Group 38
- Group 39
- Group 40
- Group 41
- Group 42
- Group 43
- Group 44
- Group 45
- Group 46
- Group 47
- Group 48
- Group 49
- Group 50
- Group 51
- Group 52
- Group 53
- Group 54
- Group 55
- Group 56
- Group 57
- Group 58
- Group 59
- Group 60
- Group 61
- Group 62
- Group 63
- Group 64
- Group 65
Related Articles
Finding the Ideal Home Builder — 5 Tips for Success
Informational article offering those ready to buy a new house tips on how to find a home builder.
Home Staging: Professional Service Slashes Time and Increases Profit
Selling your home can be a trying time. Why wouldn't you want to decrease the time your home spends on the market while increasing your sales price? Relying on a home stager can make all the difference.
Home Staging: 50 Tips - Get Started on Your Home Staging Journey
Decorating is optional. Staging, on the other hand, is essential - that is if you want to sell your house for the most possible money in the shortest amount of time. Staging - it is the difference between ordinary and extraordinary.
Home Staging - an essential merchandising tool for resale
Selling your house? You need to know about Home staging and how a small investment will allow you to sell your property faster and for more money.
Commercial Real Estate Finance Market Shows New Life
Until recently, the commercial real estate market has made a sluggish recovery from the nation's economic recession. The good news is that property values, rental rates and occupancy rates are improving, and commercial real estate appears to be gaining critical traction.
Senior Housing Market Swells With Investment Potential
America's elderly are one of the fastest-growing segments of the population. As a group, senior citizens over age 85 are expected to double between now and 2030. While people are wondering what Social Security will look like in the coming years, senior housing is another rising concern.
Home Selling: Which Fixes Are Worth It to Lure Buyers?
If you're one of those homeowners who's been moaning about how hard it's been trying to sell your house, your bargaining power -- you remember that concept, right? -- hasn't been completely devastated just because a flood of new foreclosures is expected to hit the market as a result of the recent $25 billion "robo-signing" mortgage settlement.
Maximize Profits From Your Rental Property
Managing a rental property can be an excellent source of income in today's economy.
Three Helpful Tips for Renting Out Your Home
Home ownership has always been a part of the American dream, but that may be changing. Uncertainty in the housing market has led many would-be buyers to believe that renting's the better option.
First Time Home Buyers: The Housing Market's Key Players
First-time homebuyers, more than any other demographic, stand to benefit the most in today's real estate market.
Facing Foreclosure? Don't Lose Hope
Homeowners struggling to meet their mortgage payments should not wait until they default on a payment before speaking to their lender. Hope and help are available.
Refinancing in a Down Market
Falling home values are a cause for concern for millions of American homeowners, mortgage lenders and the federal government.
Green Building Makes Homes More Affordable
Faced with increasing demand for low-income housing, public housing authorities are finding that investing in green building solutions can make their homes more affordable and more livable.
Struggling Market? Now Is the Time to Buy
Maintenance costs are up, home values are falling and states are seeing more foreclosures than sales. But terrible times for homeowners make for terrific investment opportunities.
Staging Your Home for a Quicker Sale
Foreclosures and high maintenance costs mean that new homes go up for sale faster than you can say "down market." And what is great for buyers -; more homes to choose from -; means that sellers need to distinguish their properties from the rest of the crowd.