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Top Trendsetters to watch in your upcoming markets…… Part 2 of 3. Single Women

If you missed Part 1, please read this to catch up to speed. : Top Trendsetters to watch in your upcoming markets...... Part 1 Baby Boomers & Echo Boomers .

single women

Many of us would think that the single women in today's society wouldn't be able to handle this type of transaction....buying their first home or a move-up home. You would be wrong. Single women now represent the fasting growing component of home buyers in the United States. According to the NAR (National Association of Realtors), single women represent 1 out of every 5 homes that are bought in today's market. And these are figures from 2003 and are gradually moving up in the stats columns. I personally have helped 7 single women alone this year in financing their new homes. I have 2 of them that are now investors also, so their focus is buying more homes.

women realtors buisness women

There are many factors of why woman are becoming a large force and factor when it comes to buying homes. We can start with the number one contributing factor and that would be higher wages. Another major factor is that the financing options have made it easier for women. Not so many years ago a woman seeking to buy a house faced formidable obstacles to obtaining a mortgage - or any kind of credit for that matter. Some examples of how new programs have helped women nowdays are: A. Even if divorced and owned a house before, they can claim the first time homebuyer status that would give them those first time homebuyer options. B. They can also use child support as income.

women nurses

police The other set of factors that have propelled women into the buying status are those that will buy a house as a second home or an investment property. More women are able to take care of themselves when it comes to being handy and able to fix things. They are viewing themselves less helpless and are also the type that would take care of a house much better than a man. They tend to clean more and if anything, would higher individuals to help maintain and or fix up the house.

Women are marrying later or not at all. Census Bureau figures peg the average marriage age of women at 26, six years older than the average in 1960. Sadly, the divorce rate, near 50 percent of all marriages, contributes to the number of women looking for homes of their own. And women live longer than men by 6 years, which means that they would need to downsize into a smaller home after their husbands death.

Summary: Overall, Single women today are motivated to achieve independent financial security and see home ownership as a way to get it. They are specific about what they are looking for in a home, are willing to spend the time looking for it, and are not afraid of home maintenance as a responsibility of home ownership. Women live longer, think about financial security in their retirement, and recognize the benefits that home ownership provides more so than ever before. And as stated above, a key responsibility of home ownership is home maintenance, a responsibility that both single and married women have demonstrated an increasing willingness and ability to undertake in recent years.

Groups for women & buying: Single Women Home Buyers Meetup Group (New York, NY) - Meetup.com

Imago Creative : Building Brand Relationships with Women

Single women home buyers: The growing national market

Top Trendsetters series for your market areas:

Top Trendsetters to watch in your upcoming markets...... Part 1 Baby Boomers & Echo Boomers

Top Trendsetters to watch in your upcoming markets...... Part 2 ... Single Women

Top Trendsetters to watch in your upcoming markets…… Part 3 of 3. The Hispanic Sector

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For more information about the 2008-2009 Tax Credit for First Time Homebuyers : 2008 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!!

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For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

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For information about FHA myths & FHA rumors, please read : FHA Myths & Rumors

Posted by Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans on 11/18/2006 08:16 PM

Comments (43)

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43 Comments on Top Trendsetters to watch in your upcoming markets…… Part 2 of 3. Single Women

NOV

2006

Jeff, nothing like blogging about the obvious. Women rule!

Who are the women in the photo? Inquiring minds wanna know. My last three transactions; one couple, only the woman was on the loan; and then two single women. Hey, I'm single and I own a home you wrote about me! LOL

My investor closing this week is a woman. She paid cash for a commercial mixed use complex and did a small loan on a big old Victorian 5-plex. We are on the prowl for more. The Donald better watch out! :)

Kristal...... and of course a woman would say that...... ;o)

Carole....... well, the ones on the left are those that are nurses. The group on the right, a woman in the police and the other in the Army. And, yes, I wrote about you.

KK....... yes, more and more women are becoming investors now. I have met many and have helped several just this year.

Jeff- Realtors are just catching on. Sears, Lowes and Home Depot have known this for awhile. Us single women have much more power than we even reconize ourselves. I personally have owned 8 properties before I turned 40!

Dena....... yes, catching up and you are correct about Home Depot.... I have seen a lot of women in this store. Now, not sure who is actually single.... ;o)

Angela...... this wasn't a blog for women sounding off.... lol Semi shocked no other men in here. But I always loved a room full of women by myself... ;o)

In regards to that needy man and his beer? Funny or not..... talk about a stereotype. Just because some women hang around men that treat them like this..... there are some true gentleman that love beer and football, but know how to juggle this and still show a woman a good time..... Just my opinion and not trying to make judgments, but maybe women should stop hanging around these types of guys. Or.... meet someone that still loves a good beer and football, but knows how to handle this while being romantic.

Anyhow.......the main point on this topic was that we need to know how to market certain trends.... and actually cater to a single women's needs when it comes to real estate. This is a huge market.

Goose! Hiya. I didn't mean THOSE women! I meant the ones in the pic at the top! They look like a lively bunch! Whoooo Angela I detect some pent up sumptin there lol. Kristal I think your client has deep pockets, cool! And Dena, I have had a condo and two houses in last 15 years....not as many as you though!

Jeff, you may have taken on quite the 'charge' here! : -) You rock.

Carole.... those women? My harem..... lol <TEASING> Actually, I was out with 6 women and myself.....but this wasn't them. I got that picture from the internet.....

KK..... pineapple

NOV

2006

LOLOL@ Goose you go guy! The names in the picture have been changed to protect the innocent...... lol og I'm getting giddy. Where is my pillow? I can't find it!

Jeff - I'm single myself, and havie friends who are single. It's not unheard of that the whole reason we go to Home Depot or Lowes isn't because we need to buy a waste basket or lightbulbs! Just an FYI..............

Women's Council of REALTORS - great organization - but I can't help wondering how much flak a similar organization would get if it was created - Men's Council of REALTORS! :-)

Carole.... get some sleep. The goofy fairy is sneaking up on you.

Dena...... LOL Well, I am single also and I am not always looking for plywood, or door handles. But how does one tell who is single? lol But yes, I have heard of this amongst women before.

And I actually had a friend who actually bought her first house before I did. I actually knew her from my rotary club. And she actually worked on the house mostly by herself. A little help from dad. And she was your lady like type also....dressed well. It just goes to show that so many people are very diversed and handy, more than what we perceive at times.

Suzanne....... there are a lot of things that women have accomplished. We aren't back in the 60's or 70's anymore. And thanks for stopping by and for your input.

I agree with Kristal 100% - WOMEN RULE!!

Glad to see a man writing about it Jeff!

Ines..... what's up with this thing about women rule? I though O'Doyle rules... lol If anyone is an Adam Sandler fan. "Billy Madison."

Ines...in regards to a man writing about this. I just call it as I see it. Besides.... in all honesty, we need to market to single women and single mothers. Something that I failed to mention. I just helped a mother of 3 2 months ago.

Damion.... LOL I am sure she is reasonable and knows that it's your job to help EVERYONE.... ;o) And it's nice to see a man join us. It wouldn't bother me if a man didn't join us, because that would leave me with all these beautiful and intelligent women to myself.

So, the NAR says that 1 out of every 5 buyers is a single woman??? Big deal. How about the number of single men compared to the single women.

That is a statistic that would have some meaning.

I was a co-owner with my first house with my ex-husband. Because of that experience (I won't bore you), I am determined to have my own house the rest of my life. It's mine, mine, all mine.

Lenn-It's a shame you think women gaining independence is not a "Big deal". It's that type of attitude, with which women had to put up with for so long, that makes this such a big deal.

OOOOOhhh Jeff, Stirring up controversy;) I like that single women, or women for that matter are becoming a larger "statistic"group in real estate and investing. I'm just now catching on to it all..and hope to be a big, fat part of that statistic~ Financial independance! "ROAR"

I'm a LIME

That's because single women are smarter than the average single guy Jeff. ;-)

Single guys spend all their money buying cool cars, clothes, beer, and other single guy stuff to impress single women so they don't have any money left to buy houses.

I wrote about this trend back in July

A super book everyone interested in marketing to single women needs to read is called "EVEolution" by Faith Popcorn

"EVEolution is all about marketing to women. From a
business perspective, the logic behind the book is quite
simple and compelling: "Women are different and they have
money. So what do I do?" (p. 8)"

Lenn........??? I mentioned it because it is a big deal. Just letting people know who they can market too. Just throwing ideas around.

Ann...... thanks for you input. I agree.... I think it is a big deal. And like I said... just another avenue or area to remember to market.

Laura...... hey, I love single women..... ;o) Gee, I wonder why. But seriously, statistics are showing that we should pay attention to single women and even the single mothers. Also remembering, kids buy homes as they get older also.

And Laura... I have no problem haning out with your single friends. I am friendly.. ;o)

Jim...... LOL I think I did most of what you mentioned because I was and still single. And I swear, I would bet that if I was married, I would have more money saved... lol Anyhow....

Thanks for sharing your input, the book, and a link to what you wrote back in July. I need to take a look at this. thanks

OK, Jim beat me to the punch of being the first man to comment.

Jeff, yet another good post to be commended for helping others look at ways to grow their business

That being said, you know me, I have to throw in the MP aspect, which is the fact there are some cool things women can do after a divorce. There are things like resetting acquistion indebtness (see my blog on tax deductibility) and other issues that they can address to help incorporate their mortgage into their financial plan.

Show us all some more...

Jeff -

1)look for a ring

2) look for a list in hand or a confused look

3) look in her cart, should have some hints there too!

I was approached by a man when I was looking for covers for my swamp cooler. He was just being helpful.

Human test: passion - hmmm

I would say that almost HALF of our clientele are single/ recently divorced women. They know what they want, and are not too proud to ask questions- which only makes them STRONGER buyers/sellers.

(Strawberry fields forever...)

Did this dawn on you while searching the personal/classifieds/adult friend finder websites? Brilliant way to multi-task! However, there is a fine line between solicitation and stalking..careful.

Sorry, it was tee'd up nice and pretty, I had to go there! :) lol

Its just a joke...get over it!

since women are trained up all along to be shoppers, it only makes sense that it's a fast-growing segment of homeowners. i think it just takes the confidence to go do it-just like it takes the confidence to do anything else by yourself that society hasn't always expected you to do. and you know, it also helped me in 'interviewing' my husband when we were dating...he was marrying a self-employed business owner with her own home plus an investment...and being in for all that meant he would be a great partner on the ride!

My first sale was to a retired school principal widow (not good for your business) but she paid all ALL CASH. The majority of my buyers and sellers are woman, My firm is owned by a woman, my last broker was owned by a woman. The largest real estate company in New York founded by a woman, The # 2 company in NY owned by a woman and in my previous career the company I worked for was owned by a woman. By 2008 woman will have 55% of the electorate. Dare I suggest the possibility of a woman President. (I know your a Republican)

BTW: Jeff I did a blog back on Trendsetters Part 1 today.

Did I hear Woman President???????? :-)

NOV

2006

Over the years, I've known many smart women (from their early 20's on up) who do very well for themselves financially... good jobs, great salaries. There are more of them than many realize.

Robert..... Ah, well, let the cracks continue.... lol But you do bring up a good topic for discussion.

Dena..... lol That's funny...... glad someone reads these comments. Sure, there are times when you can tell if they are single. Especially if they hang out in the store for hours.... lol

Mariana...... thanks for the input and giving us an idea what is in your market place....and for confirming these figures.

Jeff C........ first off, your sticking to others having fun with this. 2nd....why would I not get over it when there was nothing to get over....?? lol But yes, I am well aware of those wbe sites. Some people think it's weird for others to even do these sites. But what about the busy, successful individual that doesn't have time and figures the bars aren't the best place.

Leigh..... thanks for the comment. And yes, life seems like an interview at times. And I agree about the shopping thing.

Mitchell...... well, I would have to take a stab at it and say that there are women realtors than men realtors. Women can accomplish anything that they put their mind to and I am a firm believer of that.

In regards to me being Republican and a woman being President. I actually have no problem with that... It goes back to the best qualified person. Besides.....this is a joke.... it couldn't get any worse.... lol AGAIN..... JOKE... humor....

Carole...... go back to sleep... lol

Leanne...... please, show me the way. I would like to retire early.... lol Kidding.... yes, I agree. And some men are intimidated by this...but some people need to get over it.

Let's see, ten years from now, Active Rainers who enjoy politics could be state advance people for a Presidential candidate from Ohio. hmmmm. Taking two investor sisters out today Jeff so sometime this week MAYBE will blog about it with a blogback here. For the moment I'm blog weary!

Jeff:

I want to add a comment. This is a good topic because even though I have sold many apartments to woman and even with Fair Housing Laws there is still some predjudice and a double standard.

When they are buying 1 Bedroom apartments or even a 2 bedroom condo everything is fine.

However, I had a single woman client that wanted a classic 6 (which is a family apartment 2 bedrooms 2Baths w/formal dining room maids room and maids bath)

The seller and seller's agents many were woman would say "How many kids do you have? Where is your husband"?

She just wanted a big apartment.

Jeff- Great Blog !!

Carol.... sounds good..... thanks for stopping by.

Mitchell.... this is a great point. Sellers shouldn't be too concerned who is buying, but that they are qualified. But I don't think this type of attitude will ever change. There will always be some sort of predjudice out there no matter what.

Lauren...... thanks for the great compliment and for stopping by.

Mitchell, discrimination in any form can be subtle or not. Jeff would know better (than me anyway) about the history of mortgage lending, But certainly women had to really work hard to get laws changed starting in the seventies so that they could have separate credit from their husbands or any kind of earning power on their own. It's changed a lot now though, no?

Interesting insight though; do you find this kind of comment is leftover perception or prejudice that does not affect them getting the places they want?

Great responses to your blog Jeff. You seem to have coined the process quite well! Keep up the good work.

Carole.... some good input and points made....thanks.

Kristal.... thanks for the sincere and polite compliments.

NOV

2006

Jeff, long time no see buddy! You seem to have this site pretty much figured out! I hope everything is well with you buddy.

DEC

2006

Jeff, another great one. I guess I have been on the odd track. Not only did I start my career out doing a significant amount of business with Hispanics, but also with single women. Even today this holds true. I have far more women investing in real estate than men. When a man is involved it is as a result of the women instigating the process.

William, thanks for another polite compliment. But you are reading this series backwards.... lol

In regards to the women clients, please share then. ;o) I am single. Besides, I enjoy talking business and figures with women. They seem to want to listen more at times. And I am not knocking women...

DEC

2006

Jeff, There is some good stuff in here. I now have read the whole series and it was well done.

Neil...... there are so many trendsetters to keep your eyes on.... just keeping up with the times is important.

JUN

2007

I agree with your post. Three sales in April two were single women one single men.

Frank.... thanks. It's good to see more single people out there buying, especially single women. DId you check out the other 2 parts to this series? Thanks for stopping by.

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