Must Read Information For First Time Buyers

Must Read Information For First Time Buyers

First time Buyers are on their way back with a roar.

About one half of the clients that I am currently working with are first time buyers. This is significant for several reasons. When there are a lot of first time buyers in the market, the entire market in all price ranges begins to move. First time buyers in the San Diego Metro area are generally are in the $200K to $300K range. The sellers in this range then buy in the $300 to $500 range. Those sellers in turn purchase in the $500 to $800 range and so on. One of the most fun things in the real estate business is to put together "chains" of several move up buyers all purchasing at once. I have done this a few times and it is quite exciting, especially when you represent several of the parties involved.

The following is the text from a recent article about this topic: 

First-time home buyers have been a sluggish segment of the housing market in recent years, but Barclays equity researcher Stephen Kim is betting on their return. Kim recently released a report, “The Return of the First-Time Buyer,” which outlines three reasons why he believes first-timers will soon be back. In fact, he’s betting that entry-level buying will be a key theme in homebuilding industry this year.

Kim says that job growth is reaching an important threshold for improved household formation. “The cumulative number of jobs created over the past several years has now reached the point where each new job will drive greater household growth,” Kim writes. Also, Kim points to the loosening of credit, with more lenders showing willingness to lend to borrowers in the 600-700 FICO range.

Kim also notes that buying a home is still about 20 percent cheaper than renting, and the affordability of housing will be an attraction for first-timers to enter sooner rather than later before mortgage rates and home prices rise more.
But Kim says there’s one big hurdle first-time buyers will continue to face: Student loan debt. – “Barclays: 3 Reasons the First-Time Homebuyer Will Return,” HousingWire  

If you are a first time Buyer and need the assistance of a trained professional who has sold hundreds of homes to first time buyers, contact me at:

Philip Crocker
Lead Buyer Consultant
mySanDiegoAgent Realty Group
Keller Williams Real Estate

To visit my website:

To search homes on your smart phone download my mobile app: 

To see my blog post about the 8 steps to home ownership:

CA BRE# 01131961

Colleen K. Cotter - BRE #01325265 Headshot
Phone: 619-804-6840
Dated: May 5th 2014
Views: 137
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Colleen K. Cotter - mySanDiegoAgent Realty Group
2371 Fenton
Chula Vista, CA