First time homebuyers historically represent 35-40% of home sales nationwide. With the combination of key affordability factors, industry expectations are for this percentage to see a marked increase for 2009.
Many soon to be home owners will learn that buying may be more affordable than renting. Some of the factors that have contributed to today's affordability are:
*Historically low interest rates
*'Back to Reality' Home Prices
*Plenty of Inventory - including aggressively priced new homes and bank foreclosures.
*Extensive Government Products offers low downpayment or no downpayment programs.
*Federal First Time Homebuyer Tax Credits
*State and County Grant programs.
Market conditions, mortgage programs and an aggressive government approach to creating stimulus to the challenged housing economy have placed buyers in a great position. Free of contingencies, with no house to sell and plenty of financial incentive to buy.
2009 will truely be a year of opportunity for First Time Buyers.
Visit www.CasaBellaRealtors.com
for great opportunities!!
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