Property Virgin Perks

Q: I am a first time buyer, hoping to take advantage of the downturn in the housing market. Any tips that property virgins should know about?

What a great time to be a first time buyer.  Prices haven’t been this low in several years and there are deals to be made out there.  You should also check with our account as the Obama administration has created additional incentives for first time buyers that may be attractive for you.  Since you do not have home ownership history, its important to get pre-approved on a mortgage.  Speak with a mortgage broker prior so you know exactly what price home you can afford.  Once you have a firm sense of your real budget, hit the ground running.  Attend open houses, research online and find a great real estate broker to help guide you.  Do not be afraid to submit a low offer, that is the nature of this market climate.  There are plenty of sellers out there looking to get a deal done and if you are a serious buyer, you can get the right home at the right price.

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