“First Time Home Buyer Challenges in 2016”

Good morning Joe Petrowsky ,

All of these buyers were smart to have called you for advice. Now several have a plan and know when they can make a home purchase. Good job!

Joe, in this day and age, it's hard to imagine there are really people out there who pay cash for everything!  It's interesting that it will take the all cash guy longer to establish credit that the recent bankruptcy!

Good morning Joe. Few see the value of coaching and just want the easy transaction. Enjoy your day!

Joe Petrowsky I am sure that not only do you coach these prospects , but you also check back a few times during the process to make sure they are on the right track. Good Post; buy prospects are fortunate to have you and your services.

Joe... based on your activity last week, I would say that first-time buyers will remain a force in the marketplace going into 2016. Here in Charlotte, the biggest issue for these buyers is the increasing cost of houses.

Joe, I bet you do see many that are unable to purchase right now, but need some credit repair.

Joe - if there is a designation for CMC "Certified Mortgage Coach" you definitely should get it.

Joe,

I agree with Grant Schneider.  You do a great job.  A

Joe great job in setting a plan in place for them.  Now we can only hope they follow through with the plan.

It sounds like a typical day in my real estate life.

Good article Joe Petrowsky.  A large percentage of my clients are first time buyers. Their main challenge is the ability to save for a down payment and closing costs. Student loans, large car payments, and too much credit card debt make saving impossible,  leaving too little to pay for a mortgage.

Grant Schneider, there is a Certified Mortgage Coach designation.

Credit issues for hone buyers are so critical to address and resolve quickly so that the press will move forward for them

Joe

Coaching your customers will help them become homeowners.

Good luck and success.

Lou Ludwig

Joe

With the help you have provided my guess is some of these will refer others to you.

I suspect there are many first time buyers who simply don't understand credit issues, and perhaps never learned from their parents or others how important it is, how to establish it, and most importantly how to keep it in good shape.

Jeff

Joe, serving others may not result in immediate business, but it is a fine way to keep the pipeline flowing. And many consumers will appreciate your efforts.

Well Joe.  Sounds like you had a great week!  The nice thing about find those buyers that are not able to buy now (due to past financial/bankruptcies or no credit at all) is that if gives you (and us professional Realtors) the chance to coach these buyers so they know what they need to do so that one day they can be in a position to buy a home.  When that happens it's a win/win.  They get the house and we get a client for life who tells their friends and family. It's all good!

It sounds like you have a solid aggressive approach.  I like that in a lender.

Hang in there with the challenging ones, it will pay off!

I have been having the same issues with "Credit Ghosts" - they thought that they were doing the right thing by paying cash all along and not accumulating debt, isn't that what your Grandfather told you to do???  That was then and this is now...Credit needs to be exercised to make sure you can handle it, a hard concept for many especially Grandpa but that is the status of creditworthiness in 2016!

Great post Joe and congrats on helping first time home buyers.  I hope your phone rings off the hook in 2016!