Special offer

Spam prevention
Rainmaker
979,496
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

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.

Dec 18, 2015 02:46 PM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

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. 

Dec 16, 2015 04:31 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

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.

Dec 16, 2015 02:24 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

3% down would no doubt help

Dec 15, 2015 10:20 PM
Rainmaker
5,215,388
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Low downpayment requirements are always helpful for first time buyers!

Dec 15, 2015 09:50 PM
Rainmaker
4,881,462
Richard Weeks
Dallas, TX
REALTOR®, Broker

Yes and For sure.

Dec 15, 2015 09:49 PM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

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. 

Dec 15, 2015 09:34 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have not heard this prediction. Yes it will help.

Dec 15, 2015 08:20 PM
Rainmaker
2,362,579
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

yes and yes

Dec 15, 2015 07:48 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

No I am not seeing that trend here but we are dominated by second home buyers.

Dec 15, 2015 06:06 PM
Rainmaker
2,759,812
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 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.

Dec 15, 2015 05:30 PM
Rainmaker
2,538,633
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

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.

Dec 15, 2015 05:07 PM
Ambassador
1,076,531
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

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.

Dec 15, 2015 01:10 PM
Rainmaker
212,755
Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

For starter homes I am seeing that trent for sure. I think a good amount of older generations will be selling also though.

Dec 15, 2015 01:02 PM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

I'm glad to hear this, because I love working with first time buyers!

Dec 15, 2015 12:48 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

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. 

Dec 15, 2015 12:19 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

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

Dec 15, 2015 10:35 AM
Rainmaker
4,160,025
John Pusa
Glendale, CA

Richard Woodward NMLS#217454 I think, 3.0% down payment will help many buyers.

Dec 15, 2015 09:42 AM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

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.

Dec 15, 2015 09:36 AM
Rainmaker
2,182,502
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Typically rising interest rates fuel a more serious response from buyers !

Dec 15, 2015 08:36 AM
Rainmaker
5,868,372
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have several getting ready to either sell or buy early in the new year, but no first time buyers.  

Dec 15, 2015 07:37 AM
Ambassador
3,587,835
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

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.

Dec 15, 2015 07:23 AM
Rainer
150,416
Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

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!

Dec 15, 2015 07:05 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

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.

Dec 15, 2015 06:37 AM
Ambassador
2,178,433
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

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?  

Dec 15, 2015 06:32 AM
Rainer
231,224
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

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

 

Dec 15, 2015 06:24 AM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

In our area not.

Nov 05, 2019 11:47 AM
Rainmaker
1,598,452
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Even today it is the best program 

Nov 05, 2019 09:09 AM
Ambassador
6,392,889
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Too many depend on govt handouts to do anything.

Dec 28, 2017 10:32 PM
Rainmaker
4,571,456
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

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.   

Dec 16, 2015 06:33 AM
Rainmaker
617,935
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

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.

Dec 16, 2015 01:20 AM
Rainmaker
1,502,848
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm not seeing it here.  Didn't they already have a 3% down program for them?

Dec 16, 2015 01:17 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

The new mortgage rules that go into effect on February 15, 2016 will likely affect some first time home buyers.

Dec 15, 2015 11:57 AM