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What are other first time buyers doing? The tax credit extension and expansion in November has fueled new discussion about home buyers and the housing market in 2010. Here’s a look at first-time buyers in 2009.
The median age is 28, significantly down from where it was in 2005 at 32.
Location or Neighborhood was the No. 1 “must-have” for 36% of buyers.
2 out of 3 sellers paid at least part of the buyer’s closing costs.
76% used their own savings for the down payment.
1 in 4 had help from their family for the down payment.
As elevated levels of distressed properties are expected to continue for the next few years, here is a glimpse of buying a distressed property: 
27% of foreclosures* were purchased by investors.
47% of distressed* properties were purchased by first-time buyers.
89% of those first time buyers that purchased a distressed property were motivated by the $8,000 tax credit. 7 in 10 agents have seen an increase in multiple offers.
Approximately 3 out of 5 agents discuss the differences between buying distressed and traditional properties at the buyer consultation.
* Distressed – Short Sale and REO, Foreclosure – REO Only
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Rolando Gill
801-694-9955 Mobile
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Rolando Gill
801-694-9955 Mobile
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http://tinyurl.com/gilrol —–Original Message—–
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<p>Seth Godin: Quieting the Lizard Brain from 99% on Vimeo.</p>
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Rolando Gill
801-694-9955 Mobile
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Subject: Posterous | Re: God Bless America
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