Posts Tagged ‘ first time home buyers ’

Home Prices Drop in January – BTW it’s April

The past few days the news has been filled with stories about how home prices dropped in January.

S.F, US  home prices in free fall“  reads one headline.

Twin Cities Home Prices Suffer 20% Plunge” proclaims another.

Home Prices Down 14% year over year” announces yet another.

Talk about ‘yesterday’s’ news!

In January George Bush was President and it was snowing in many parts of the country.

Thousands of homes have been sold since January and Obama’s Stimulus Plan has been passed.

I understand that it takes time to compile data, but January’s home values are not very relevant to today’s market.

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Posted by: Louis Cammarosano on April 1st, 2009 under Home Prices, Home Values, HomeGain

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First Time Home Buyers Boost Existing Home Sales

According to reports in the Wall Street Journal and the Miami Herald first time home buyers are accounting for a large portion of the recent boost in existing home sales. The reports cite lower home prices and the provision in the Obama stimulus plan that gives first time home buyers an $8,000 credit.

Indeed, on a conference call following HomeGain’s release of its survey of Realtors on Home Values, HomeGain member Jeffrey Bastress of Starpoint Realty in Massachusettes cited that he had recently received numerous offers from first time home buyers citing the $8,000 credit as a reason for their interest in purchasing a home.

Andrew Duncan of Keller Williams of Tampa also cited the new tax incentives, lower home prices and great interest rates as driving new home buyers to make their first purchases.

Could it be however, the reason that first time home buyers are making up a good portion of existing home sales is that they haven’t been burned yet?

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Posted by: Louis Cammarosano on March 24th, 2009 under Market Trends, Online Marketing

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