Wednesday, May 21, 2008

Weichert Realtors Provides Game Plan for First-Time Buyers in Opportune Market

Today’s buyer’s market offers a tremendous opportunity for those wishing to become a homeowner for the first time. According to the National Association of Realtors, 2.5 million first-time homebuyers took advantage of affordable home prices, the abundance of homes on the market and historically low interest rates by purchasing a home in 2007.
Still, while it was clear to so many that it was a great time to act on the dream of owning a home, most probably had the same initial question: “Where do I start?”
Weichert, Realtors recently issued a press release that offers the following steps to help first-time homebuyers get the ball rolling:
  • Location, Location, Location: The best place for homebuyers to start is by creating a list of the towns or specific communities where they would like to live. They should take into account factors such as their commute, proximity to family, as well as the amenities and activities available in each location.
  • “Windows” Shop: It is helpful for buyers to start looking online to get an idea of what types of homes and features appeal to them (e.g., a townhouse over a single family home, a ranch over a split-level, brick exterior or siding). Getting a sense of the variety of options available and what they are interested in will help simplify their search later on.
  • Determine a Price Range: Once buyers have an idea of where they wish to live and the features they like, the next course of action is to figure out their price range. 
  • Real Estate 101: Before going out and seeing homes, many people find it reassuring to get familiar with the overall real estate process. First-time buyers can learn more about this process by attending one of Weichert’s free Home Buyers Seminars that take place each month in all of its company-owned offices.
  • Finding the Right Agent: Now that the buyer has a general understanding of real estate and what they are looking for, it is time for them to find a Sales Associate who can show them properties that meet their specific needs, educate them on the overall real estate process and provide them with valuable information on the local market.
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