Home Buyers Come in All Shapes and Sizes!

Who Are Today's Home Buyers?

What does today's modern family look like? Increasingly, it may be a Mom, Dad and one or more adult children. Or, it may be a young couple with a single parent sharing the home and the expenses. The traditional American family still exists but there are more variations than were common in decades past. Another very common variation includes couples who are willing to sign up for a 30-year mortgage before they say, "I do," to each other.

In the post-war era all the way through the 1970's there was a life stage associated with traditional home ownership:

1. Go to college or a trade school

2. Get a job

3. Get married

4. Buy a house

Now those steps are less clear. Many adults go back to school for 2nd degrees or advanced degrees even later in life. Many adults are waiting until their late twenties and early thirties to get married. Many are considering home-ownership at an earlier age or participating in some manner in their parent's home ownership. Some juggle multiple jobs and others are work-from-home entrepreneurs or telecommuters.

What does that mean to a sales associate showing a home?

• Listen carefully to fully understand the needs of the home buyer. If they juggle multiple jobs they probably want a turn-key solution. If they work from home they have to be very happy with the home they purchase. If they are a mixed-generation family, separate living areas may be key.

• Pre-qualification is more important than ever. Multiple people with mixed income streams require more attention from a lender. Educating the home buyer to understand the value of having the lending in place before even looking is critical.

• Make sure everyone involved is on board as much as possible throughout the home-buying process. Maybe you're working with a young couple; they love the house on 123 Happy Life Lane. They look at it a second time and then they say, "Well, we won't know until Mother looks at it, too." Suddenly you meet Mother who has some game-changing opinions. The sooner you can meet and talk to all of the players the better your chance of finding this family the right home.

The good news is that more people are enthusiastic about home ownership at all life stages than ever before!




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Everybody Wins!

This is a rare moment in time. Throughout the history of the US Real Estate Market there have been mainly two distinct types of market. Then, during the recession that began in 2007 a third type of market was born:


  • Buyer's Market
  • Seller's Market
  • Very Poor Market


A buyer's market exists when housing prices are "soft" and lending is easy. This means that home prices are lower than they could be, interest rates are down and lenders are looking for buyers. In this market the seller who holds out for a certain price has little chance of getting it – there are just too many homes on the market that a buyer can choose instead.

In a seller's market inventory is down. Each house sells quickly with multiple offers and often for a good bit more than the seller asked for. The buyer who really wants to get in to home ownership will need excellent credit and a willingness to negotiate aggressively to beat out other buyers.

After the housing market started to slide in 2007 foreclosures and short sales started to come on the market. But banks were cautious about lending and tightened their standards. Borrowers who once could have qualified for a mortgage found themselves declined. As housing values slipped, sellers found themselves owing more on their mortgage than their house was now worth. Interest rates went down but no one could qualify for the loan so it did not help.

Now we have a fourth type of market that is very rare. We call it the "Everybody Wins" market. How could that happen? Mostly through market correction. As home values have held steady, banks have become more willing to loan. As homes have sold, inventory has decreased. As a result of having less inventory on the market, home prices are steadily coming back up. Sellers can afford to sell their homes. Buyers can qualify for a mortgage and buy a home they don't have to bid frantically on. Lenders are loaning on homes that are holding their value.

What else do you need in a market like this? A good broker! Come to RE/MAX Flagstaff and see what a wonderful experience you will have selling or buying your home. Experience, professionalism, caring, and education come together to take you through the process to a successful outcome!



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Four Tips For Working With a Single Home Buyer


According to a finding from the Bureau of Labor Statistics data, more than 50% of adults were single last year. This marks the first time since 1976 that single adults accounted for more than half of the population. And the Harvard Joint Center for Housing Studies has determined that many young adults are purchasing a home before marrying.

This changes the reasons people buy a home as well as impacting how people obtain a mortgage. The single male or female working American is not necessarily motivated by family needs (now or planned) to make that first home purchase. They may be purchasing solely for financial investment reasons, or may be protecting themselves from rising rents and the whims of landlords.

What can we say about the single home buyer?

  • They are tech savvy and will start online before they talk to a real estate professional.
  • They don’t have the need for as much interior or exterior space as a family.
  • Surprisingly, they may prefer a house to a condo because of privacy.
  • They may look for a home near lifestyle factors and amenities instead of a high-rated school district.

How can you assist them during the home-buying process?

  • Advise them of the need to acquire pre-approval from the mortgage lender of their choice.
  • Be knowledgeable about local property values and investment opportunities.
  • Be thorough when explaining the offer and contract process so they understand how negotiation works.
  • They may ask more questions – answer them with patience and clarity.

Even though the buyer is single, they may bring a trusted family member or friend along to view the houses with them. If that’s the case be sure to have materials for that person to look at as well. After the closing, follow up and maintain the relationship. This buyer may be your next seller!


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When Home Prices Rise, Buyers Win

September was a very positive month in 2014 with the volume of home sales higher than in September of 2013. The best news, however, was that the prices continued to follow a rising trend. Not as fast a rise as in 2013, but a respectable 5.4%. That’s good news to home owners and even to buyers.

How can it be good news for buyers when home prices rise? First, it means they are purchasing an asset that is appreciating. A home is the largest investment many people will ever make and the housing crisis, where many homes lost value, was a disaster for homeowners. Second, it means that they will gain equity in their homes via appreciation as well as by paying against the principal.

Not the least consideration is that banks are more interested in loaning money on homes when those home values are increasing. No bank wants to get stuck with a foreclosed on home that is worth less than what they loaned on it. When lenders are enthusiastic, buyers have an easier time buying.

If you decide that now is the time to buy, make two appointments. 1) Make an appointment with a lender to get pre-qualified. You don’t want to find the perfect house and then be told your credit has some problems. 2) Make an appointment with a RE/MAX Flagstaff real estate broker to look at some houses. Our professionals will make sure you find the home that fits your needs and your budget. That’s what we’re trained to do!

Call RE/MAX Flagstaff at 386-246-8585 and let’s celebrate the good news in the housing market!b2ap3_thumbnail_38Pepperdine.jpg

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Do I Really Need a Real Estate Agent?

When buying your Florida dream home - do you really need a Realtor®? Many people move from other areas to Florida after vacationing here for many years. When they are anticipating the move they search a real estate listings website and look at many homes on the Internet. They’ve done a lot of homework before they even get in front of an agent.

At that point, what’s the agent’s job? There’s a lot more to it than you might think! For one thing, the agent is an expert in this market and knows things the prospective home buyer does not. These may include:

  • · Proposed improvements to the area or,
  • · Proposed development that might negatively impact the value,
  • · Other similar homes that have just come on the market,
  • · Economic conditions in the community,
  • · How local lenders view that type of property,
  • · The State of Florida real estate laws

Most important, the agent can negotiate for you without becoming emotional. Buyers and sellers can get caught up in the moment of the sale and let their emotions rule their actions. A seller may insist on overpricing a much-loved home. A buyer may be too quick to put a big offer down on a house they’ve fallen in love with. The art of negotiation is something your agent is trained in thoroughly and the agent knows that you want the house, but you want it at a fair price. If that agent is looking to earn your repeat business they will do their best for you on this deal.

When you’re ready to buy trust your licensed Realtor®. With a RE/MAX agent you know you have the best training and professionalism. If you choose RE/MAX Flagstaff you know you’ll have the best team in Flagler County helping you! Call 386-246-8585 and get ready to buy your Florida dream home.



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FLAGSTAFF Each Office independently Owned and Operated

Flagstaff Office: 386-246-8585
One Hargrove GradeFax: 389-246-1667
Palm Coast, FL 32137Email: Info@RMFlagstaff.com