The short supply of first-time home buyers in the U.S. housing market is at least in part blamed on the difficulty many prospective first time home buyers face in coming up with enough cash to make a down payment and pay closing costs.
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Many prospective home buyers and their real estate agents do not realize, however, that there are 2,290 down payment assistance programs available across the country to help them overcome this challenge.
The analysis showed that 58 million total properties in these counties would qualify for at least one down payment assistance program, 87 percent of the total population in the counties.
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consultation
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Realty-Trac and Down Payment Resource analyzed the number of single family
homes, condos and town homes that would qualify for one of these down payment
assistance programs in the 578 U.S. counties with a population of 100,000 based
on the maximum home price allowed for the programs available in each
county.
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consultation (855) 334-6753
The analysis showed that 58 million total properties in these
counties would qualify for at least one down payment assistance program, 87 percent of the total population in the counties. The short supply of first-time home buyers in the U.S. housing market is at least in
part blamed on the difficulty many prospective first time home buyers face in
coming up with enough cash to make a down payment and pay closing costs. Many
prospective home buyers and their real estate agents -- do not realize,
however, that there are 2,290 down payment assistance programs available across
the country to help them overcome this challenge.
Call Now for a free
consultation (855) 334-6753
Sell Your House in DAYS Instead of Months
· No Agents
· No Commissions
· No Fees
· No Hassle
Call Now for a free consultation
(855) 334-6753
Learn the secret of
selling your house in days instead
of months…
If you’re trying to sell
your house, you may not have the luxury of waiting
weeks, months, or even
longer for a qualified buyer to come along.
The two most common ways
that property owners attempt to sell their houses are:
1) Listing with a real
estate agent
2) For Sale by Owner
(FSBO)
First, let’s talk about method number one. You may think that listing with a real estate
agent is the preferable way to go. But if you wish to sell quickly while
maximizing your profit (or minimizing your losses), you should think twice
before listing your property.
The Real Problem: Real
Estate Agents Aren’t Working For You.
One major problem is
that most agents are dealing with dozens of homes at a time. They don’t really
put their energy into selling just one house.
After all, if you had
access to a database that lists thousands of houses of every size, shape and
description, would you really focus on just one? All Realtors do have this
access. It’s called the MLS, or Multiple Listing Service. Your house is one of
thousands for sale.
The vast majority of
training for new agents isn't in the art of selling – and finding buyers – but
in the art of
getting listings! Unfortunately for sellers, giving an agent the listing is worthless
unless the agent finds a buyer.
How long do you want to
wait? There has been a lot of
discussion in real estate circles recently about mortgage rates that are no
longer falling. The reality is that the frenzied home buying market in recent
years may be slowing down. Recent statistics from the National Association of
Realtors show average home sales taking more than three months in many areas.
These figures don’t
include the extra time it takes from the contract to closing, which can be
another month or two. Or what happens when the house under contract fails
to close, because the buyer wasn’t able to obtain financing, or enough
financing, to cover the mortgage on your home.
The above trends are
sobering, if you’re considering placing your house on the market today. You may
want or even need a quick sale, for several reasons. These
reasons vary from person to person, but the bottom line is, if you’re saddled
with a house and payments that you just don’t want or need anymore, you Page 1
of 5 don’t have time to list with an agent.
Working with a real estate agent is costly. Since real estate agents are working on commission, they get
paid quite well for giving buyers access to the thousands of property listings
in their database. They often handle dozens of properties and really don’t care
which ones get looked at – as long as they get a commission from at least one.
There’s another cost of using real estate agents. Many times, Realtors will advise you to “fix
up your house” before putting it on the market. You can spend hundreds or even
thousands of dollars, and countless hours of effort trying to make it
“marketable.” But most sellers don’t have that type of cash ready, and it can
become a tremendous burden.
In spite of all your
efforts, there’s absolutely no guarantee that your house will sell if you use a real estate agent.
You could do all of the above, and still be left with a property
that sits on the market, month after month.
Here’s a challenge for
you. Talk to someone who
has recently sold their house. Ask them what they had to go through to sell it,
and how much it cost, including repairs, painting, and other “fixing up.” Ask
them if there were unexpected “last minute costs” and “surprises” that came up
and how much they paid in commissions and closing costs. Finally, ask
them how long it took them to sell, from the time they first
approached their agent, until the final closing. It’s a real eye-opener, to say
the least.
Many times, because of
problems and high fees associated with real estate agents, people decide to try
to sell their house themselves. They’re hoping to save money, cut down on
commissions, and see more money. Let’s see what happens when people use this approach.
Call Now for a free consultation
(855) 334-6753
While those who market
their house themselves want to cut down on costs, and earn more money from the
sale, the reality is often quite different than they expected.
For instance, if you
choose this route, you will have to cover all marketing costs yourself. This
means paying for signs, newspaper ads, and even holding open houses to let
others know your property is on the market. All of these marketing costs add up
over time.
When you choose to sell “For Sale by Owner,” you still need to fix your house up, to make
it more marketable. It may need a new roof, or other costly repairs, and you
could be forced to invest quite a bit of money into getting it ready to sell.
Another concern is the legal paperwork involved with selling a property. There
are title searches and other documents, disclosure statements, not to mention
pre-qualifying the buyers financially.
Many people become
overwhelmed at the sheer amount of work that it takes. They never realized how
much time, money, and effort it takes to get a house noticed and shown in a
highly competitive marketplace. Remember, there are Realtors showing clients
hundreds of properties from their databases competing with you.
Finally, and most
seriously, you will be showing your property to complete strangers, hoping that
one of them will choose to buy. But you could go to all the work we’ve
described, and still not make a sale.
Sobering fact: "Increasing complexity of the transaction
process and the amount of time required are two major factors in the FSBO
decline. A third factor is likely the issue of security in admitting un
screened strangers into your home." Source:
Martin Edwards, JR,
President, National Association of Realtors.
Call Now for a free consultation
(855) 334-6753
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