Plenty of Programs for First Timers, Cash Poor
The NAR (National Association of Realtors) recently surveyed home buyers which revealed that nearly 40 percent of all buyers arefirst-timers and of those, 43 percent used no-money down financing.
With the cooling of the housing market, first-time buyers need to be assertive in elbowing their way up front of the home-buying line — now. The cooling, or normalizing, doesn’t mean the market is tanking. It means just what it says — it’s going to be more normal. Housing will continue to appreciate, sellers will continue to sell and buyers will continue to buy. The question is whether buyers will take advantage of this leveling off and get a good deal while the sellers are forced to give up a few things. One of the items that was sidelined during the searing market the past few years, was the very commonsense financing offered through various government and private agencies to help first-time and cash-poor buyers get into the home market.
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