979,496
Richard - We will have to wait and see if first time buyers will dominate the market next year. I do think a 3% down program, or any low down program will help this group. The two largest barriers to home ownership are no money for a down payment, and of course the credit score.
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Richard Woodward NMLS#...
Plano, TX
1,622,432
I do not believe it is the same in here( SoCal) with our housing prices and hiking rates ( average housing price is 500k). More and more millenniums choose to rent or live with their parents.
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Richard Woodward NMLS#...
Plano, TX
4,319,419
Richard Woodward NMLS#217454 - this surely will help first time home buyers who make enough to pay mortgage but don't have enough for down payment.
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Richard Woodward NMLS#...
Plano, TX
3,071,489
5,215,388
Low downpayment requirements are always helpful for first time buyers!
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Richard Woodward NMLS#...
Plano, TX
4,881,462
3,416,038
They are already dominating the market and have been. 2016 could be a nasty surprise if they raise rates today, although it will be small, the psychological aspect could put the brakes on many markets and parts of the economy.
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Richard Woodward NMLS#...
Plano, TX
4,434,127
I have not heard this prediction. Yes it will help.
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Richard Woodward NMLS#...
Plano, TX
2,362,579
634,482
No I am not seeing that trend here but we are dominated by second home buyers.
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Richard Woodward NMLS#...
Plano, TX
2,759,812
Good morning Richard. I do think that first-time home buyers will dominate the market. We did a lot of inspections for them this past year.
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Richard Woodward NMLS#...
Plano, TX
2,538,633
Good morning Richard. I have a blog coming out on this topic, as the majority of pre-qualifications I am doing right now is for first time home buyers.
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Richard Woodward NMLS#...
Plano, TX
1,076,531
3% down without a catch? Sure would be great. 3% down with high PMI, stringent qualifying standards, or higher than market rates? We've already got em, and nope.
Market needs to stop coming out with gimmicks and release some helpful products based on the fact that approved mortgages are lower risk today than they've ever been.
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Troy Erickson AZ Realt...
Chandler, AZ
212,755
For starter homes I am seeing that trent for sure. I think a good amount of older generations will be selling also though.
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Richard Woodward NMLS#...
Plano, TX
3,727,873
I'm glad to hear this, because I love working with first time buyers!
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Richard Woodward NMLS#...
Plano, TX
2,224,473
I have been seeing that trend for the last year. Now that our prices are so low and interest rates have remained low, the first time buyers are doing what they can to get a house.
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Richard Woodward NMLS#...
Plano, TX
5,772,575
I am leary of these type of predictions. Each marketplace is radically different. So, I don't buy in to these type of predictions. A
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Richard Woodward NMLS#...
Plano, TX
4,160,025
Richard Woodward NMLS#217454 I think, 3.0% down payment will help many buyers.
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Richard Woodward NMLS#...
Plano, TX
3,986,258
I don't follow the experts...I just work my clients and work at getting new ones no matter if they are seasoned buyes or 1st timers.
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Richard Woodward NMLS#...
Plano, TX
2,182,502
Typically rising interest rates fuel a more serious response from buyers !
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Richard Woodward NMLS#...
Plano, TX
5,868,372
I have several getting ready to either sell or buy early in the new year, but no first time buyers.
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Richard Woodward NMLS#...
Plano, TX
3,587,835
We do have a lot of first time home buyers in this market but we also have a lot of move up and dream home buyers as well.
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Richard Woodward NMLS#...
Plano, TX
150,416
Experts are so good at predicting, sort of like weather men/women. Just teasing, time will tell I guess.
I don't factor the types of buyers in my business plan, just make sure that I am getting my "name" out there, so they find me, and I find them!
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Richard Woodward NMLS#...
Plano, TX
1,712,676
Most importantly, the Millennial Generation represented 34% of the first time buyers this year. As the largest age group now this bodes well for 2016.
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Richard Woodward NMLS#...
Plano, TX
2,178,433
If the rising rent trend continues, they won't be able to afford to rent and need to buy! That'll be a switcheroo, won't it?
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Richard Woodward NMLS#...
Plano, TX
231,224
im not sure if the mood will to be buying. rates are pretty stable for early 2016. the lower the down, the better off they are thou
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Richard Woodward NMLS#...
Plano, TX
2,071,025
1,598,452
6,392,889
4,571,456
Most of my buyers have had some pretty substantial down payments. I'm in favor of any program that puts more financially able people into their own home.
617,935
Richard,
I find first time buyers buy when they are ready, not because of what is happening in the market. A “good” 3% down program is always welcome.
1,502,848
I'm not seeing it here. Didn't they already have a 3% down program for them?
1,157,785
The new mortgage rules that go into effect on February 15, 2016 will likely affect some first time home buyers.