PROPERTY MARKETING, LEAD GENERATION & SEOBusiness Tips HOME START A NEW CAREER NEW AGENTS EXPERIENCED AGENTS TECH SAVVY AGENTS Our
Arizona Market Improving For Firsttime Home Buyers
by ARIZONA REALTORS on JULY 16, 2015
A recent Huffington Post article cited statistics from the National Association of REALTORS® that one-third of home purchases made in May 2015 were by first-time home buyers.
“Our foreclosure rate has dropped significantly,” noted Arizona Association of REALTORS® President Jim Sexton. “We’re lower than California, Nevada, New Mexico, but I wouldn’t say we ‘lack’ for assistance programs.”
Sexton referenced the Home in Five Advantage program with its five-percent grant good toward a down payment or closing costs, as well as conventional loans “with as little as three-percent down plus MIP, or five percent without…depending on whether your challenge is the down or monthly payment.”
Another lesser-known option is the HOME PLUS Home Loan Program with its 30-year fixed-rate mortgage and a four-percent grant; plus an additional one percent for qualified U.S. military personnel. Income and purchase price limits also apply.
Despite a season slump in supply , first-time buyers should start to see some relief as more building permits are issued and nearly one-third of closed sales under $300K now include seller concessions beyond closing costs.
According to The Cromford Report: That’s a large percentage…but not surprising considering the reduction of cash investors and increase in boomerang and first-time home buyers in the marketplace.
Want to make one of these homes yours? Click here for some great homes for sale in Buckeye!
Latest Blog Posts
Email Marketing is generally about as effective as cold calling and about as useful.Most of the emails end up in the spam folder and the response rates are abysmal.But there are a few email