Tuesday, February 15, 2011

First Time Buyers Demand Move-In Ready Starter Homes

In the day, when you used the phrase "starter home", you would think of a little home or an entry level home, that might need a little TLC, and was affordable for a first-time home buyer. Then, once they get their foot in the door of purchasing a home, they could, through the years upgrade to larger, move-in ready homes.

In today's market however, with the abundance of home choices, current first-time home buyers want places that are move in ready. According to the National Association Of Realtor (NAR), first-time home buyers accounted for half of the market in 2010.

So, as a seller of a house in this market, you may want to consider these few points regarding first-time home buyers:

1. The market afforded them the opportunity to buy a home sooner than later.
2. They are finding their home in a more desirable neighborhood than expected.
3. They are able to get a home at a better price than expected.
4. Got more space than expected.
5. Able to lock in lower interest rates than expected.

What does this tell you, the seller? The condition and quality of their home matters a great deal. They can be choosy about what appeals to them and are recognizing the benefits of the low prices and wide selection of homes in many areas. They are in no hurry to purchase. They are taking their time and doing their homework. They know what they want, shopping on average of 11 homes before making a decision.

So, if you, as a seller, want these first-time home buyers to consider your home, one big thing you may want to make sure of is that your home is priced competitively. Also, along with price, consider the condition of your home. Remember, they want move-in ready homes.

My niche in the real estate business is working with first-time home buyers. I love being able to walk them through the processes of purchasing their first home. And in Stevensville and surrounding areas, we have a nice selection of homes that would be perfect for you as a first-time home buyer. What I like about the Stevensville area is location, location location. It is convenient to shops and services, close to work, even if you are a commuter across the bay Bridge, and near schools. So, get in touch with me, Lisa Longest, and allow me to get you started down the path of home ownership. My cell phone is 443-786-4200. Give me a call. I look forward to hearing from you.

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