Home Buyer Tips: Get What You Want

Finding a great agent who can help you narrow your focus can go a long way to getting exactly what you want?  PRICELESS!

Home Buyer Tips: Low Down Payment

Good news!!  If you are a first-time homebuyer, you may not need a 20% down payment.  According to a recent survey, nearly 75% of first time buyers only put down 3.5% or less.  Of course, with interest rates still low, now is a great time to buy!  Contact your mortgage professional for your situation; then give us a call to help get you started.   Check out this video for more info:

The Real Estate Market in 2011

Everyone is wanting to know what is going to happen in real estate in the new year.  Unfortunately, there is no way to predict one way or another, but there are signs out there indicating that the market is improving.  Take a look at these recent statistics:

According to the National Association of Realtor, pending home sales rose 3.5% in November.  Based on trends from the 5 months prior, this is indicating a gradual recovery into 2011.  Affordable housing and the improvements in the economy are bringing buyers into the market.

The 30-year fixed-rate mortgage is forecast to rise gradually to 5.3% around the end of 2011; at the same time, unemployment should drop to 9.2%.

Existing-home sales are projected to rise about 8% to 5.2 million in 2011 from 4.8 million in 2010, with an additional gain of 4% in 2012. The median existing-home price could rise 0.6% to $173,700 in 2011 from $172,700 in 2010, which was essentially unchanged from 2009.


New-home sales are estimated to rise 24% to 392,000 in 2011, but would remain well below historic averages, while housing starts are forecast to rise 21% to 716,000.

While I can't guarantee any of these expectations, I can guarantee that if you are a motivated seller or buyer, WE are your motivated Realtors.  Pickett Property Group is in this business to move houses...whether you are buying or selling.  We will help you achieve your goals.  Contact us today!

Today's First-Time Home Buyers

In today's market, more than 50% of buyers are first-time home buyers.  That's an amazing statistic considering where we've been and where we're headed (meaning the economy).  But, given the recent tax credit program and the all time lows in interest rates, who can blame them?

An independent study of over 2000 first-time homebuyers recently shed some light on this group of buyers.  Take a look:

• The median age is 28 years old...down from 32 just four years ago.
• The median home size is about 1600 square feet
• Location or neighborhood was the #1 "must have" for 36% of first-time home buyers
• 66% of sellers paid at least some of the buyer's closing costs
• 76% used their own savings for the down payment
• 25% had help from their family for the down payment

Having worked with several first-time home buyers, I can say that these statistics are pretty close to what I have seen in the area.  If you are looking to buy your first home...or second...give Pickett Property Group a call.  We'd love to help!