Wednesday, April 1, 2009

Many First-Timers Considering Buying a Home This Spring

An article concerning a survey from earlier this month shows that among prospective first time home buyers shows that 78% said that now is a good time to buy a home, despite widespread concern about the economy.

Prices emerged in the online survey as the primary driving force for prospective first-time buyers, with 85% saying they consider current homes prices affordable and 73% saying that taking advantage of current pricing would be a major factor in their decision to buy.

More than three-quarters of those polled — 77% — said they are more likely to buy a home in the next six months because of the $8,000 first-time buyer credit.

The article quotes that home buyers who have a stable job history of at least two years, solid credit (620 and above) and downpayment money that can be documented (3.5% on FHA loans) are well positioned to secure a mortgage in today’s credit environment.

Digg It!
Buzz Up!
Add to Stumble
Add to Delicious
Twit This
Add to Facebook
Google Bookmarks
Sphere: Related Content