2010: The Year of the First-Time Buyer?
According to the Chinese calendar, 2010 is the Year of the Tiger. But in real estate, 2010 may come to be known as the “Year of the First-Time Home Buyer.”
Mark Zandi, chief economist at Moody’s Economy.com, says there will be 1.84 million homes sold to first-time home buyers in 2010, compared with 1.73 million in 2009.
These buyers will invariably make some mistakes that they will come to regret a few years down the road, some experts say, including failing to use a real estate professional to help them manage the transaction.
Real estate professionals have the time and the knowledge to sift through thousands of listings, creating market analyses to judge pricing and other key features, points out Ray Boss Jr., a practitioner with RE/MAX Realty Group in Maryland.
“I would want someone who is going to look out for my interests first and foremost,” says Boss. “Someone who knows the contracts, who has experience negotiating, and who can walk me through the entire process smoothly — step by step — and make sure I get the house that’s right for me.”
Source: U.S. News & World Report, Kimberly Castro (02/18/2010)
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Luring First-time Buyers – 5 Tips to Beat the Competition, Sell Your Home
RISMEDIA, June 19, 2009-(MCT)-A federal tax credit of up to $8,000 is nudging many Americans into buying a home for the first time, good news for those trying to sell one. Still, selling a home isn’t easy in most markets today. To get the typical first-time buyer to bite and submit an offer, a house [...]