Weichert Realtors Press Release
Weichert Sees Great Opportunity for First-Time Home Buyers in Today's Market
4/9/2008
MORRIS PLAINS, N.J. – Purchasing a home for the first time marks a major
milestone in a person’s life. James M.
Weichert, president and founder of Weichert, Realtors, wants those thinking
about buying a home to know that the current market offers one of the best
times in history to get in to real estate.
Interest
rates remain at historically-low levels, home prices continue to be
attractively affordable, there is a large supply of homes to choose from, and
despite the media-driven perception, there is plenty of financing available for
qualified buyers. While these factors make it a great time to purchase a home
for anyone, there are a handful of reasons that make now an opportunistic time
particularly for first-time buyers.
“Buying
your first home is a life-changing occasion and symbolizes the realization of
the American dream,” said James M. Weichert, president and founder of Weichert,
Realtors. “Right now is a great time to
check out the market and learn about the great opportunity that exists to
become a homeowner.”
With no
home of their own to sell, first-time homebuyers get to take full advantage of
the cost savings offered in today’s affordable market without having to deal
with any loss of equity that an existing homeowner might encounter.
First-time
buyers also have a great deal of flexibility and can pursue a wide variety of
housing options. Those purchasing for the first time typically have immediate
access to their assets to allow them to move quickly when they find the home
that is right for their needs. Often with no time constraints of their own,
first-time buyers can also accommodate sellers who need a quick closing or can
patiently wait should a seller need several months before they can complete the
transaction.
The
plentiful inventory of homes on the market today has created strong competition
among those with a house for sale. As a result, many builders and sellers are
offering all kinds of incentives to help their homes stand out such as offering
to pay mortgage points and fees, providing a home warranty or free moving
services, including furniture or big-screen televisions with the home or even
throwing in a tropical vacation. This
increased competition also makes it easier for buyers to negotiate with
sellers.
For both
first-time and repeat buyers alike, purchasing a home continues to be a sound
long-term investment. According to the National Association of Realtors (NAR),
on average, the value of a home nearly doubles every 10 years. With the typical
first-time buyer often trading up several times over the course of their
lifetime, buying a home now offers a great way to build up equity they can
reinvest in to a larger home down the road.
“We know
there are a lot of renters out there who are interested in learning how they
can become a homeowner,” said Weichert. “Our open house attendance is up, our
Web site traffic is at an all-time high and we are seeing thousands come out to
our buyer seminars. Clearly, more and
more people want to seize the opportunity this buyers’ market is offering.”
Weichert
has nearly 18,000 sales associates in more than 500 company-owned and
franchised sales offices in key markets throughout the U.S. A family of full-service real estate and
financial services companies, Weichert helps customers buy and sell both
residential and commercial real estate, and streamlines the delivery of
mortgages and home and title insurance.
For more information, Weichert's customer service center can be reached
at 1-800-USA-SOLD or at Weichert's Web site, www.weichert.com. Each Weichert franchised office is
independently owned and operated.
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