Survey shows first-time homebuyers growing weary of short sales

There is also a growing bifurcation in the market. High demand and short supply on the low end have kept prices high and slowed sales, while low demand and. "Nearly half of survey respondents – 44%.

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Not even the lowest interest rates in decades could entice wary house-hunters last month. Home sales around Western and Central Washington remained sluggish with pending sales lagging year-ago levels, but not all the numbers were down.

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Nearly three-quarters — 74% — of respondents agreed that home ownership was part of achieving their personal American Dream – the same level as in our 2013 Q4 survey. and the sales mix moving.

A recent increase in loans from the federal housing authority also shows first time homebuyers and boomerang buyers are helping drive the market, Blomquist said. It generally takes seven years for a.

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The subjects for the survey were predominantly middle-class and upper middle-class educated professionals. A significant number of the respondents were buyers of mid-segment and premium homes, with a.

A recent increase in loans from the Federal Housing Authority also shows first time homebuyers and boomerang buyers are helping drive the market, Blomquist said. It generally takes seven years for a foreclosure to drop off a credit report. Short sales take less time, generally three or four years.

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Survey Reveals Hurdles to Homeownership "Despite their emergence as today’s fastest-growing homebuying demographic, first-time homebuyers still face many headwinds. The most important thing that a first time home buyer should do if you are considering buying a short sale is to get educated about the process.