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-Bloggged 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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POSITIVE ATTITUDE for the Weary Soul
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consumer confidence in the housing market
first time home buyers

Comments 16 New Comment

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Rainmaker
826,793
Tim Lorenz
949 874-2247
TIM LORENZ - Elite Home Sales Team

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

October 18, 2012 08:30 AM
Rainmaker
645,151
Team Honeycutt
Allen Tate

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

October 19, 2012 06:41 AM
Rainmaker
449,351
Sarah Oswald
Broker, Realtor, CDPE, CIAS, SFR , Investor
Eastvale Team Realty & Property Mgmt

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

October 19, 2012 07:26 AM
Ambassador
1,638,391
Fernando Herboso - Broker for Maxus Realty Group
301-246-0001 Serving Maryland, DC and Northern VA
Maxus Realty Group - Broker 301-246-0001

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

October 19, 2012 08:13 AM
Rainer
94,870
Shane Barker
Amerifirst Financial, INC.

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

October 19, 2012 08:17 AM
Ambassador
706,281
Mike Frazier
Dyersburg Tn Real Estate
Carousel Realty of Dyer County

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

October 19, 2012 08:46 AM
Rainmaker
233,086
Mark Montross
Listing and Buyer Specialist
Catamount Realty Group

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

October 19, 2012 09:23 AM
Rainer
201,675
Nan Jester
Realtor, Exit Real Estate Gallery
Exit Real Estate Gallery Jacksonville Beach, FL

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

October 19, 2012 10:28 AM
Rainmaker
538,148
Ginger Harper
Your Southport~Oak Island Agent!
Coldwell Banker Sea Coast Advantage

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

October 19, 2012 12:02 PM
Rainmaker
693,766
Lanre Folayan
Buy a home in Washington DC. Sell your DC Home Now
Keller Williams Capital Properties-Buy a home in Washington DC. Sell a home in Washington DC

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.

October 19, 2012 02:06 PM
Rainmaker
1,249,704
Carla Muss-Jacobs, Principal Broker/Owner
Buyer Focused ~ Buyer Results
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time

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.

October 19, 2012 03:02 PM
Rainmaker
40,680
Andrew Ostrander
Ostrander Real Estate Group
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.

October 19, 2012 06:46 PM
Ambassador
1,550,726
Christine Donovan
Broker/Attorney 800-610-7253 DRE01267479 - Costa M
Donovan Blatt Realty

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.

October 19, 2012 11:14 PM
Rainmaker
684,536
Steve and Jan Bachman
Realtors - Northern Virginia
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax

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

October 20, 2012 07:24 AM
Rainmaker
313,510
Sandy Acevedo
RE/MAX Masters, Inland Empire Homes for Sale
951-290-8588

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

October 20, 2012 11:34 AM
Ambassador
1,658,223
Margaret Rome, Baltimore Maryland
Sell Your Home With Margaret Rome
Broker/ Owner HomeRome Realty-Author "Real Estate the Rome Way" 410-530-2400

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

Margaret

November 28, 2012 05:42 PM
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Rainmaker
171,243

Joan Congilose

CRS, CDPE, Top Producer Marlboro, Manalapan Homes
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