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