Good news for First Time Home Buyers! There are great deals out there.
We have found that at the under $250,000 price range that there are multiple offers all competing for the best deals. We have found that buyers who shop with a Realtor have a better chance getting a house than those who do not. Most times than others- First Time Home Buyers don’t see the listing until it is too late. By the time they put in an offer, they are already beat out.
Read the article below on some great stats.
NATIONAL ASSOCIATION OF REALTORS® (NAR), the median home price 
nationwide in December was down 15 percent to $175,400. With current interest rates at or near historic lows, borrowers with a 10 percent down payment could save $254 per month on a median-priced home compared with a year ago.
- The percentage of First Time Home Onwers that could afford to buy an entry-level home in California stood at 53 percent in the third quarter of 2008, compared with 24 percent for the same period a year ago, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
- The minimum household income needed to purchase an entry-level home at $287,760 in California in the third quarter of 2008 was $56,100, based on an adjustable interest rate of 5.91 percent and assuming a 10 percent down payment. The monthly payment including taxes and insurance was $1,870 for the third quarter of 2008.
To read the full story, please click here
For more reading:
Home Ownership more appealing than renting
New Home Buyer Fence Sitters may Lose out to Market
Questions on the 8,000 Federal Tax Credit
The Home Team Girls Realtors® Real Estate Team helping you with Homes For Sale, Relocations, Seller Strategies, Certified Buyer’s Agent, Bank Foreclosure Specialist, Short Sale Specialist. We use the service of a certified Home Stager on all of our listings. For Roseville and Sacramento Realtor Services call on the Home Team Girls.
