Attention First time buyers, You could save the World!
So, the papers and economists are finally listening……to what I have always said. This is not a ego driven comment, but one that makes common sense. In Real Estate, we have always known that if you have a strong first time buyer market, all the other price ranges start to fall into place. If 60 to 70 percent of all Real estate transactions happen below $400000 and then another 25 to 35 percent happen in the $400000 to $700000 price range and finally 5 to 10 percent are done in the higher range. Now this is typical in a normal market. So what happens when the market goes down……….simple, the lower price range is what people can afford and this becomes the most attractive to buy.
So I get that the governments are trying to get the economy back on track, but if they truly want Real Estate to recover, they need to focus more on the first time buyers and sellers and give them the tax breaks and incentives. They could be the ones to save the Real Estate markets and help get the economy going.
By the way, my team and I love working with first time buyers and watch for our new seminars to help educate everyone on buying their first home.
Talk to you soon.
Todd
March 11th, 2009 at 1:00 pm
Just wanted to say HI. I found your blog a few days ago on Technorati and have been reading it over the past few days.