THE "REAL ESTATE RECOVERY" IS FUELED BY FIRST TIME HOME BUYERS
---Same in CA's Riverside County, Temecula and Surrounding Areas.
Reblogging a brilliant post by long-time first time homebuyer agent, Lenn Harley, of Virginia:
Out here in Temecula and Murrieta, in Riverside County, the first time homebuyer is very similar. Their introductory language is about whether we can help and what about programs, translating into whether they qualify for a loan if they don't have 20% down payment for a conventional loan.
There are several programs:
1. VA: we do lots of VA loans as we have lots of military, both active and retired, coming to this area near Camp Pendleton.
2. FHA: this requires only 3.5% down payment; but the monthly payment will include Mortgage Insurance at the current rate, which payment doesn't go away until 80% loan to value or 78%.
3. Conventional with less down: We do have programs now with 3% down conventional, and the mortgage insurance component gets paid out right when the loan is done instead of over time.
If you need a referral to a very good real estate agent, please let me know, as I've gotten to know several over the years local to Murrieta and Temecula, who specialize in helping first time home buyers.
IN PRINCE WILLIAM COUNTY, VA, THE "REAL ESTATE RECOVERY" IS FUELED BY FIRST TIME HOME BUYERS.
THE KEY TO SELLING HOMES TO FIRST TIME HOME BUYERS IS UNDERSTANDING THEIR NEEDS. We take a lot of time to make sure that the FIRST TIME HOME BUYERS understands the basics of:
the real estate market
how properties are priced
the financing options
grants and loans available
More on the above later.. .
A First Time Home Buyer generally begins the conversation with . . . . "I'm a First Time Home Buyer, can you help me?"
My response is usually, "I'm sure I can, if you qualify. Let me get some information."
IS THE FIRST TIME HOME BUYER READY TO TAKE A TOUR?? The conversation that follows will get the basic information I need to know whether or not the First Time Home Buyer is ready to view homes. Of course, if they appear to be qualified, I get them together with an agent to look at some homes for sale as quickly as possible. Nothing engages buyers more than looking at actual homes for sale. Some things just don't come across in photos of homes for sale on the Internet. Space, condition, age of appliances, age of heating/cooling, surroundings and more are rarely conveyed by photos.
DID THE WORD "PROGRAM" COME UP?? Since the caller is looking for a "program" which really means "I need help with the down payment" (many First Time Home Buyers know little to nothing of closing costs, but they know about down payment), I get some basic financial information to determine if a credit review or introduction to the appropriate loan officer is adviseable. Sometime we have to translate the First Time Home Buyers' words.
"PROGRAM" = $$$$$$$$$$$$.
I GET THE INFORMATION I NEED in a friendly and nonthreatening manner. Over the years, I've had exactly ONE (1) CALLER REFUSE TO TELL ME THEIR INCOME!! Fine with me. I simply told him that we couldn't help and wished him "Good luck".
HELPING FIRST TIME HOME BUYERS IS GOOD BUSINESS! Many people in the market to buy a home TODAY have a basic understanding that home prices are lower, far lower than when they considered buying in the past.
HELP THE FIRST TIME HOME BUYER. They are helping the "REAL ESTATE RECOVERY" like no other market sector.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
For real estate help to find a wonderful home in Prince William County in
your choice of location, home size, lot size and price range,
contact Homefinders.com for a tour - 800-711-7988. WE CAN HELP.
SEARCH ALL ACTIVE LISTINGS OF HOMES FOR SALE HERE.
Full Time Agents
Conventional, FHA, VA, CDA, FHA 203(k)
All Homefinders.com buyer clients are provided with a
FREE One Year Home Warranty.
PRINCE WILLIAM COUNTY REAL ESTATE MARKET REPORT and HOMES FOR SALE - AVERAGE LIST PRICE, AGE, LOT SIZE, HOW LONG ON MARKET AND MORE.
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Lisa Delzompo (951-704-4559)
"May your home always be too small ... to hold all your friends!"
CA Dept of Real Estate, Real Estate Broker License #01379811;
NMLS Identifer #331744
REAL ESTATE: www.SandToSeaProperties.com. Covering northern San Diego, Oceanside, Temecula, Murrieta, Riverside County and desert areas of Yucca Valley, Joshua Tree and Twentynine Palms, CA.
LOANS: PRW Lending, Inc. Call direct 951-704-4559, or email me at lisa(@)sand2sea.us
Information is deemed reliable but is not guaranteed. Information is general and may not address your particular situation. Do not rely solely on this or any information you find on the internet. You should consult relevant professionals directly about your real estate, financial, etc., situation.