Record Share of First Time Homebuyers
Record Share of First Time Homebuyers
Record Share of First Time Homebuyers
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November 15 2010 (Shirley Allen)
First_time_home_buyers
The National Association of Realtors (NAR) reports that first time homebuyers accounted for half of all home sales from July 2009 through June 2010 according to a survey it conducted of buyers and sellers.

First time home buyers responding to the survey made up 50 percent of sales in 2010 up from 47 percent in 2009. That’s the highest share of first time homebuyers in the history of the survey that goes back all the way to 1981.

The survey is based upon 8,449 responses to a survey sent to homebuyers and sellers nationwide whose transactions took place between July 2009 and June 2010.

The survey also found home buyers today have affirmed a long-term view of home ownership, the typical seller is experiencing positive returns and the vast majority of home owners see their property as a good investment.

In last year’s survey, the typical seller had been in their home for seven years, in the 2010 survey that number had increased to eight years. First time buyers claimed they planned to stay in their homes for 10 years and repeat buyers planned on holding on to their property for 15 years.

One of the more interesting revelations of the survey found that even with several years of price declines, the typical seller who purchased a home eight years ago experienced a median equity gain of $33,000, a 24 percent increase, while sellers who were in their homes for 11 to 15 years saw a median gain of 40 percent.

The practice of “flipping” in today’s market was found to be virtually non-existent with the exception of experienced investors.

The survey found that the single biggest reason most people buy a home is the simple desire to own a home of their own, cited by 31 percent of respondents, including 53 percent of first-time buyers.

The next biggest reasons for buying, identified by all home buyers, were desire for a larger home, 9 percent; a change in family situation and the home buyer tax credit, cited by 8 percent each; a job-related move, 7 percent; and the affordability of homes, 6 percent.

Tags: NAR, first time home buyers, home buyers, home ownership, good investment, equity, flipping, investors

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

November 15 2010 (Shirley Allen)
First_time_home_buyers
The National Association of Realtors (NAR) reports that first time homebuyers accounted for half of all home sales from July 2009 through June 2010 according to a survey it conducted of buyers and sellers.

First time home buyers responding to the survey made up 50 percent of sales in 2010 up from 47 percent in 2009. That’s the highest share of first time homebuyers in the history of the survey that goes back all the way to 1981.

The survey is based upon 8,449 responses to a survey sent to homebuyers and sellers nationwide whose transactions took place between July 2009 and June 2010.

The survey also found home buyers today have affirmed a long-term view of home ownership, the typical seller is experiencing positive returns and the vast majority of home owners see their property as a good investment.

In last year’s survey, the typical seller had been in their home for seven years, in the 2010 survey that number had increased to eight years. First time buyers claimed they planned to stay in their homes for 10 years and repeat buyers planned on holding on to their property for 15 years.

One of the more interesting revelations of the survey found that even with several years of price declines, the typical seller who purchased a home eight years ago experienced a median equity gain of $33,000, a 24 percent increase, while sellers who were in their homes for 11 to 15 years saw a median gain of 40 percent.

The practice of “flipping” in today’s market was found to be virtually non-existent with the exception of experienced investors.

The survey found that the single biggest reason most people buy a home is the simple desire to own a home of their own, cited by 31 percent of respondents, including 53 percent of first-time buyers.

The next biggest reasons for buying, identified by all home buyers, were desire for a larger home, 9 percent; a change in family situation and the home buyer tax credit, cited by 8 percent each; a job-related move, 7 percent; and the affordability of homes, 6 percent.

Tags: NAR, first time home buyers, home buyers, home ownership, good investment, equity, flipping, investors

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

November 15 2010 (Shirley Allen)
First_time_home_buyers
The National Association of Realtors (NAR) reports that first time homebuyers accounted for half of all home sales from July 2009 through June 2010 according to a survey it conducted of buyers and sellers.

First time home buyers responding to the survey made up 50 percent of sales in 2010 up from 47 percent in 2009. That’s the highest share of first time homebuyers in the history of the survey that goes back all the way to 1981.

The survey is based upon 8,449 responses to a survey sent to homebuyers and sellers nationwide whose transactions took place between July 2009 and June 2010.

The survey also found home buyers today have affirmed a long-term view of home ownership, the typical seller is experiencing positive returns and the vast majority of home owners see their property as a good investment.

In last year’s survey, the typical seller had been in their home for seven years, in the 2010 survey that number had increased to eight years. First time buyers claimed they planned to stay in their homes for 10 years and repeat buyers planned on holding on to their property for 15 years.

One of the more interesting revelations of the survey found that even with several years of price declines, the typical seller who purchased a home eight years ago experienced a median equity gain of $33,000, a 24 percent increase, while sellers who were in their homes for 11 to 15 years saw a median gain of 40 percent.

The practice of “flipping” in today’s market was found to be virtually non-existent with the exception of experienced investors.

The survey found that the single biggest reason most people buy a home is the simple desire to own a home of their own, cited by 31 percent of respondents, including 53 percent of first-time buyers.

The next biggest reasons for buying, identified by all home buyers, were desire for a larger home, 9 percent; a change in family situation and the home buyer tax credit, cited by 8 percent each; a job-related move, 7 percent; and the affordability of homes, 6 percent.

Tags: NAR, first time home buyers, home buyers, home ownership, good investment, equity, flipping, investors

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.