Thursday, February 19, 2009

First Time Homebuyers - Profile

When I asked a few Realtors at Preview Properties.com to describe their recent first-time homebuyers - those buyers who could take advantage of the first-time homebuyer tax credit, here is what they told me:

  • In their 20s and early 30s. Generation Y.
  • Married
  • No children
  • 50% are college graduates, balance are currently attending college
  • Occupation often as a service provider: nurse, teacher, utility company
  • 50% currently living with parents, 50% currently renting
  • Most were raised in county they have chosen to purchase a home in
  • Household income ranges between $75,000 to $150,000
  • Minimum down payment (between 0 and 3.5%)
  • Require frequent feedback
  • They share information with friends/relatives so a bad experience will be shared and extremely good ones will be shared too.

How does this line up with the first-time homebuyers you are working with?

What is the most effective way to reach this group so we can help them buy their first home?

Share your input in the comments section below.

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