There’s a First Time for Everything
FIRST KISS: THERE'S A FIRST TIME FOR EVERYTHING. IS NOW THE TIME FOR YOUR FIRST NEW HOME?
Remember your first bike? You first car? Your first date? Your first kiss? There are a number of magic moments in life that symbolize transitions from one state of life to another. Moments that leave you changed forever. Moments that shape the directions of ones life.
One of the most important of these moments is the purchase of a first new home. It’s a time when you move from renter, to homeowner, temporary to permanent. Homeownership is symbolic of the American way of life and it very much at the root of the nation’s social structure.
Over the past decade in the Puget Sound region the purchase of that first new home has often been delay. Home and land prices were increasing faster than personal incomes for many people, particularly those in the market for their first home. The New Home Council, an independent team of industry professionals is pleased to report that now, in the Puget Sound market area, the first time homebuyer segment is the strongest segment of the industry. We are entering a time when more and more of our neighbors can afford a new home. This is being made possible by a number of positive factors. First of all, home and land prices have adjusted themselves over a period from 2007 through late 2008. Second, interest rates for have remained at historic lows, and loans with lower down payments, such as FHA loans and other, are regaining popularity. Third the developers and homebuilders have been very busy creating exciting new product for the first time buyer of new homes and condominiums. There are more choices of home styles, communities and buildings that are attracting a lot of activity in every part of our region. The last motivator, albeit a temporary one is the Federal government’s $8,000 tax credit for first time buyers which expires at the end of November.
Over the next three weeks The New Home Council will share tips, techniques and strategies to make buying your first new home as easy and fun as that first kiss.
In the meantime, the New Home Saturday section today is loaded with information and choices to get you started on your search. In the meantime here some of our favorite on-line sources for first time buyers of new homes.
www.bankrate.com/brm/news/real-estate/BuyerGuide2004/fthb-tips.asp
