My 1st Time Buyers Consumer Confidence Is Soaring Through The Roof

By
Real Estate Agent with RE/MAX Central (732)232-5277

Let's Talk About Happy Campers In The First Time Buyer Pool!                                  market

 I met a young couple with  2 school aged children this past Summer that indicated that they have been renters since they were married. They had been contemplating buying a home for years but were apprehensive to commit because of all the negative press about the housing market.

They would spend hours looking at homes on the internet and doing drive bys on their own and never worked with a realtor before. They finally contacted me about one of my listings that really caught their interest. When we met I knew instantly I would make their home ownership dream a reality.

Their 2 major concerns were that they believed they would be paying too much for a home that would be worth less than what they paid for it & they were concerned about choosing a house needing too much work. I started by showing them how the housing market was changing and that homes were selling. I also showed them how long homes that are really nice were staying on the market before getting a contract and recent sale prices.

The first few homes they liked they brought their family back to look at and get a 2nd opinion. Their family from the old school suggested they start with a low offer & needless to say they lost out because the sellers received higher offers from other buyers and the homes were sold to someone else.

Success at Last!  Inventory in their desired area was getting low and prices were rising  so I suggested they think outside the box and consider a home in a neighboring town that  I found that was move in ready,had all the bells & whistles they were looking for and was priced to sell. It took some encouragement but they agreed to take a look & it was love at first sight. They made a realistic offer and it was accepted.

We had a few hurdles through the home inspection period but all was resolved & they are content. The best part of this first time buyer tale is that they are so ecstatic to find out that their interest rate on their new home will be under 4% & they can't wait to close and finally own a home.

 

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Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Lenn Harley 10/18/2012 08:26 AM
  2. Sarah Oswald 10/19/2012 07:41 AM
  3. Scott Fogleman 10/20/2012 04:17 AM
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Show All Comments
Rainmaker
845,343
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

t is important to be able to help counsel the consumer because they often are operating on myths or misunderstandings of their options.

Oct 18, 2012 08:30 AM #1
Rainmaker
645,178
Team Honeycutt
Allen Tate - Concord, NC

The title for your blog is great to read. Here in North Carolina the same seems to be true.  I am optimistic that it will continmue.

Betty

Oct 19, 2012 06:41 AM #2
Rainmaker
502,784
Sarah Oswald
Eastvale Team Realty & Property Mgmt - Corona, CA
Broker, Realtor, CDPE, CIAS, SFR , Investor

Great post. Glad you were able to find them their dream house. Job well done!

Oct 19, 2012 07:26 AM #3
Ambassador
1,649,091
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Home buyers should listen to you... great positive post and true representation of the market today. .

Oct 19, 2012 08:13 AM #4
Rainer
94,924
Shane Barker
Amerifirst Financial, INC. - Salt Lake City, UT

This is very good news and exciting to hear.  I'm glad the sentiment is turning around in the right direction.

Oct 19, 2012 08:17 AM #5
Ambassador
711,982
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Dyersburg Tn Real Estate

Don't you love the deals that have a happy ending?

Oct 19, 2012 08:46 AM #6
Rainmaker
234,984
Mark Montross
Catamount Realty Group - Burlington, VT
Listing and Buyer Specialist

It is always rewarding helping first time buyers. They are my favorite market segment to work with.

Oct 19, 2012 09:23 AM #7
Rainer
206,475
Nan Jester
Exit Real Estate Gallery Jacksonville Beach, FL - Jacksonville Beach, FL
Realtor, Exit Real Estate Gallery

It always complicates when ANYONE steps in and gives advice when they are not professional in our field. Comes with the territory, though.

Oct 19, 2012 10:28 AM #8
Rainmaker
541,653
Ginger Harper
Coldwell Banker Sea Coast Advantage - Southport, NC
Your Southport~Oak Island Agent!

You must be doing a great job of educating your buyer.  Keep on when it is working.

Oct 19, 2012 12:02 PM #9
Rainmaker
696,658
Lanre Folayan
Keller Williams Capital Properties-Buy a home in Washington DC. Sell a home in Washington DC - Washington, DC
How much is my Petworth DC House Worth?

Sometimes family members who have never brought a home before or dont know about the local real estate market can kill a deal. However I am glad to hear that everything worked out. Congratulations to you and your client.

Oct 19, 2012 02:06 PM #10
Rainmaker
1,284,489
Carla Muss-Jacobs, Principal Broker/Owner
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% o... - Portland, OR
Buyer Focused ~ Buyer Results

Well, the parents who know everything about real estate {rolling eyes} seemed to be in your neck of the woods as well.  Glad you thought outside the box.

Oct 19, 2012 03:02 PM #11
Rainmaker
40,780
Andrew Ostrander
Ostrander Real Estate Group - Phoenix, AZ
Ostrander Real Estate Group

That is soooooooo my point in the blog I just wrote a couple days ago about naysayers killing deals like the parents in your example.  They never say yes and many times only complicate the deals.  Congrats on turning this around.

Oct 19, 2012 06:46 PM #12
Ambassador
1,563,910
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

Joan - I love happy buyers who are getting their home.  It's problematic when they listen to people's opinions and those opinions aren't based on knowledge and facts.

Oct 19, 2012 11:14 PM #13
Rainmaker
694,784
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

Great work Joan. Many agent's advice is self serving. Helping these folks the right way willl make your their agent for life.

Oct 20, 2012 07:24 AM #14
Rainmaker
313,710
Sandy Acevedo
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale

Congratulations on the great job you did with these first time buyers. They will love you forever, so keep in touch.

Oct 20, 2012 11:34 AM #15
Ambassador
1,689,239
Margaret Rome, Baltimore Maryland
HomeRome Realty - Baltimore, MD
Sell Your Home With Margaret Rome

I think it won't be five years before they realize that should have bought in 2012!

Margaret

Nov 28, 2012 05:42 PM #16
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Rainmaker
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Joan Congilose

CRS, CDPE, Top Producer Marlboro, Manalapan Homes
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