According to the National Association of Realtors, home sales picked up in February 2009, just over January numbers.
First time home buyers accounted for more than half of all buyers in the market. They are usually in a better position to buy than others, as they do not have another home that they are waiting to sell.
Buyers are out searching for a deal and they are finding them. Nearly 50% of homes that sold were distressed sales, either foreclosures or short sale properties. These distressed properties are coming with a price tag of about 20% less than a typical sale.
First time home buyers are also out right now taking advantage of the $8000 first time homebuyer tax credit. This chart highlights the differences between the previously established $7500 tax credit and the now revised $8000 tax credit.
Home sales are anticipated to increase even more in the Spring.
This article is authored by
Sandy Shores Realtor, Melbourne FL Real Estate
Brevard County Real Estate & Investing
Palm Bay Florida Real Estate News
that for you
I know it is good to see the market picking up I hope it continues.
As the weather gets warmer here the buyers really start to come out. Everybody seems to know about the tax credit which is a huge plus.
The first time home buyers are out in force in Knoxville, TN. I sold 4 homes all in 1 day last Saturday (2 listings of mine went under contract and had 2 contracts for Buyers) and all were 1st time home buyers. Now I just need to get some more listings that would appeal to first time home buyers as they are flying off the shelves down here.
First of all..wow to Christine and Jennifer - way to go!!
And if I was thinking of buying my first home sometime in the near future..I would be jumping on this bandwagon too with the low interest rates, incentives and house prices..
Here's hoping to a prosperous year for us all!!
Sandy, We do have some movement and it is refreshing if we can get them qualified for a loan!
Pat, We love hearing and seeing the market picking up
Justin, In the springtime our market begins to bloom. Typically snowbirds are heading home soon for the hot summer and want to have a place to come back to in the winter.
Christine and Jennifer, Wow 4 houses in one day - now that's something to be proud of! Great job. Don't you wish you could do that all day long?
Shelly, I agree, I hope all of us have a prosperous year
Paul, I love the fact that the market is moving again.