first time buyer: Is Smaller The New Trend?
- 09/08/23 03:08 PM
With the cost of Real Estate spiraling upwards due to the demand for housing and lack of inventory to meet that demand, it seems that new construction sizes may be trending downward as we move along our timeline. I have a family member who lived in a 6,000 sq. ft. home until they sold it and are now downsizing (3,500 sq.ft.)(??)...lol. Years ago I spoke with a developer in the western middle of the state. He was building 1,700 sq.ft. - 2,100 sq.ft. homes on smaller lots and couldn't meet the demand. He was swamped with orders. Today, many buyers are spending upwards … (16 comments)
first time buyer: Skin In The Game...
- 01/11/23 09:44 AM
The down payment is a sticking point with many buyers. With escalating home prices and interest rates, of recent, it's easy to see why buyers are concerned when looking at the conventional rule of thumb being 20% down. That's not the case though, as there are programs and mortgage options that exist that do not require a 20% down payment. If you live in a qualified rural area the USDA has a program with no money down. FHA is as little as 3% and the VA does provide no down payment loans to veterans. So, don't get too wound up as … (9 comments)
first time buyer: Are You A First-Time Buyer?
- 10/17/22 01:55 PM
The Real Estate market has been crazy for the last couple of years and first-time buyers are wondering if they're being priced out of the market. I can't blame them for having that viewpoint. But listen up! There are things you may want to do or look into before you give up the search or lose all hope. The infographic below is rudimentary but helpful. The first thing to do is hook up with a Real Estate Professional. They will be able to guide you through the waters and suggest some things you may not know about, such as first-time buyer assistance … (16 comments)
first time buyer: Tips For First-Time Buyers...
- 06/12/22 07:57 PM
There are as many tips for first-time buyers as there are Real Estate Agents. BUT, in my humble opinion, the BEST tip is; ALWAYS hire a professional Realtor®. Let me say that again. ALWAYS hire a professional Realtor®. There are too many potential pitfalls along the buying and selling road of Real Estate to attempt to go it alone. Get your finances in order and do not purchase major items during the buying process. The folks at KCM put out an informative article that I've shared below. One more thing...Did I say ALWAYS hire a Professional Realtor®? What Are the Best Options for Today’s First-Time Homebuyers? … (12 comments)
1. Doing It On Your Own 2. Avoiding Budget Talks Before Shopping 3. Not Looking Beyond the House 4. Opening a Line of Credit Before the Sale is Final 5. Being Emotional Rather Than Visionary
We've all been first-time buyers and as Real Estate Professionals we work with many first-time buyers. I found this helpful article, by Alejandro Herrera, on the Realty Times website and thought I'd share. There is one area I don't agree with, though. I've not met one Real Estate Professional that suggests the staging of their clients home to distract a buyer from a negative.
5 Common Mistakes … (12 comments)
first time buyer: Wondering If I Can I Buy My First Home?
- 06/29/18 05:36 AM
These days, many potential first time buyers wonder whether or not they are able to purchase a home. Home prices are escalating and wages are not keeping up. Inventory levels limit the choices buyers have. You have to have a "Plan". Determine how much you can afford. A good "Mortgage Broker/Banker" is invaluable. Many States have "1st-time Buyer Education Programs". Get your finances in order by eliminating/lessening debt. The good news is, there are homes available for you to purchase. Have realistic expectations. There is a term to consider when buying your first home. That term is "Starter Home" where you buy a smaller home, … (10 comments)
There is more to life than Real Estate. My intention is to provide not only Real Estate information but items that we all face and experience in our daily journey through life.
With the cost of Real Estate spiraling upwards due to the demand for housing and lack of inventory to meet that demand, it seems that new construction sizes may be trending downward as we move along our timeline. I have a family member who lived in a 6,000 sq. ft. home until they sold it and are now downsizing (3,500 sq.ft.)(??)...lol.
;)
;)
;)
