The market keeps getting better for first-time buyers

A recent profile of buyers and sellers compiled by the National Association of Realtors has revealed promising, if not surprising statistics about the changing face of the marketplace.
The percentage of first-time buyers is on the rise, and they are making their purchases for the long term.
Frankly, this makes sense, because first-time buyers aren’t struggling with the sale of an existing home. Combine that advantage with low home prices, large inventories, and low interest rates, and the result is a positive trend for both buyers and sellers.
Recently enacted tax credits and modifications in the Federal Housing Administration are also helping buyers, along with predicted increased credit flow from a federal funds injection into the banking system. More buyers entering the marketplace means more sales, reduced inventories and increasing home values.
The profile of sellers shows that more than 90 percent used a real estate brokerage to market and sell their property. Buyers profiled listed the most important agent services as helping to find the right home and negotiate satisfactory terms and price.
If you’re planning a purchase, and need funds for a down payment, learn from buyers in the study who mostly used savings or a gift from family, and who also chose a fixed-rate mortgage more than 90 percent of the time. Consult with a trusted Realtor today, and get on board the homeownership train.
The Placer County Association of Realtor is the professional trade association representing approximately 2,700 Realtor, affiliates and other related representatives in Placer County. Call them at (916) 624-8271 or visit their Web site at www.pcaor.com.