Right now I'm seeing the same type of client in larger numbers:
This is the season of the First Time Home Buyer.
Much of the time, this is anecdotal information. By this, I mean to say, that sometimes the trends I notice can be unique to me as opposed to being experienced by real estate agents in other areas. However, I'm reading that I'm not alone in this trend.
MSNBC reports (from the 2008 Realtors Conference & Expo in Orlando) that first time home buyer market is on the rise.
"According to the survey, the number of first-time buyers rose to 41 percent from 39 percent of all transactions in 2007."
Here are the factors I contribute to this phenomena:
- Prices are very low. In many cases, home ownership can be less expensive than rent.
- The $7,500 tax credit is very enticing. Many buyers want to purchase before year end to increase their tax savings.
- First timers don't have a home to sell.
If you, or anyone you know, are looking for a home in the Valley of the Sun (the Phoenix Arizona metro area) give me (Chuck Willman) a call at 480.292.0600. I'd love to show you what we have to offer.
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Photo Credit: House in a Box by Svilen Mushkatov
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