1st time Buyer

Are First-Time Buyers Diving Into the Deep(er) End of the Housing Pool?

Skipping the Starter Home There’s some anecdotal evidence that first-time Buyers in the Twin Cities are making their mark a rung (or three) higher than you’d normally expect to find them. Namely, they’re disproportionately active in transactions around $500k — especially new construction in some of the more affordable ‘burbs — rather than in the...
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Housing Market Missing Link: 1st-Time Buyers

Likely Culprit:  Exploding Student Debt “Economists believe younger Americans now are much more likely to rent for longer periods than did earlier generations ” due not only to the rising home prices and high credit standards but also the high student debt levels and elevated levels of underemployment.” —Wall Street Journal (5/23/2014) With the caveat that...
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How NOT to Get Repeat Referrals

Taking Advantage of a 1st-Time Buyer (Or Trying To) First-time Buyers may not know prevailing lender fees — but experienced Realtors do. In that vein, a colleague recently reported that, to his chagrin, he discovered that the lender he referred his client to quoted her lender fees (origination, underwriting, appraisal, etc.) easily double the industry...
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Multiple Offers the 1st Day? Not This One

The “House-by-House, Block-by-Block” Housing Market Close-in, high demand area? Check. The home pictured above is in Minneapolis’ Bryn Mawr neighborhood, just west of downtown and northwest of the Lakes and Uptown. Affordable for first-time Buyers? Check. The $259,9k asking price is right in the middle of one of the housing market’s hottest price points. Nice...
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Advice to New Realtors

Targeting First-Time Buyers “Hit ’em where they ain’t.” –Hall of Fame Outfielder Willie Keeler’s advice to hitters “To establish a toehold in a market, target business that others aren’t focused on.” –Corollary, Ross Kaplan Sort of like Keeler, my advice to new Realtors is to go after clients — and business — that other Realtors...
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