Homevestors Encourages Sellers to Reach Out to the Untapped Market of Young People


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Homevestors is the nation’s most successful real estate franchise company.  Working hand in hand with independent franchisees, thousands of homes are purchased, remodeled and successfully sold each year.  Despite national statistics that there is a downward trend in home investments by younger people, there is new data suggesting the American dream of owning a home is rising in popularity.

 

Since 1980 there has been a 10% drop in home ownership by people between 25 and 34 years old nationally.  Of course, the biggest obstacle for many young prospective home buyers is the unavailability of jobs. For employed young Americans, however, the biggest factor in preventing young people from buying is debt related to their education.   The average graduating college student in 2010 remains burdened with $25,230 in student loans.  This outrageous amount is an enormous depressor of credit ratings.    There is good news though; Congress is close to a deal that would maintain low interest rates on college loans at least through mid 2013.

 

Education is key to convincing young people that homeownership is an attainable and desirable goal.  Disseminating information on how to improve credit ratings, most effective ways to save for a down payment and market conditions currently and in the future can prepare young people for the challenges of the home purchasing process.

 

Communicate to young people the extraordinary undervaluation of the housing market.   Home prices have reached lows unseen in decades. Homebuyers with decent credit and steady employment can receive mortgage rates as low 4% and only put down 3% down payment.   And there are once in a lifetime deals from many lending institutions like Freddie and Fannie Mae.  Washington Mutual now offers to incorporate the mortgage insurance costs into the interest costs, making it tax deductible for first time home buyers. Young people who believe that homeownership is a losing investment, need to know that real estate remains one of the soundest investments available.

 

There is also the added element of time.  Although the business climate is extremely buyer friendly, expect changes soon.  In many metropolitan areas, home prices are experiencing significant upticks.  The northeast and the south experienced huge sales increases in the first part of the year.  Atlanta realtors expect a 30% increase in sales for June.  MIami, Tampa, Las Vegas and Phoenix have seen significant single family home price increases.

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