First time home buyers are finding the market is extremely favorable for them right now. With summer just around the corner, many homes are starting to once again come on the market in full swing. This is more than normal for this time of year, however, with home prices being lower than the past few years, and interest rates remaining extremely competitive, first time home buyers are finding themselves in the midst of a market of a lifetime.
Buyers are finding this market is not all “doom and gloom” as the media is reporting – especially if you are a first time buyer. When you couple low rates with low home prices, the payments and options you create can be pretty affordable . . . and surprising. These buyers are realizing they can purchase a home for themselves for the same amount they pay in rent. With most markets seeing significant amounts of homes listed for sale that are in Foreclosure, buyers are creating deals with these Lenders that have found themselves in that type of position.
Although many buyers are still wondering if now is truly the right time to buy, the buyers that are willing and able to give it a try are finding out they are qualifying for mortgages with affordable payments and they also have the money needed to close on the homes! These are the buyers that will prosper in the end by jumping at the right time to secure a home that will not only grow in value and provide the first step to financial opportunity, but a new freedom they once thought was further down the road of life.
