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58°F, Fair

Just A Great Time For First Home Buyers!

Posted by V.K. [Mel] Melhado P.A. on Sunday, February 4th, 2007 at 3:12pm.

If you work with first-time buyers, despite the down turn in the market, you are probably experiencing a pretty darn good run. When first-time buyers are ready to buy, the state of the market usually means little to them. They are extremely anxious to get away from the rental situations that they have been in for years and when they have the money, they are are ready to go.

First-time home buyers may well know what the market has been doing, but it is not of great concern, because they are in it for the long haul. When they are ready to buy, they are ready to buy and nothing is going to stop them. The bottom line is that any negative market news isn’t going to phase them signicantly. Home owners who are looking to trade up, on the other hand, are certainly more likely to react to a bad news market and hold off on their purchasing, until the market turns for the better.

The Naples Florida real estate market reflects a very strong ‘buyer’s market’, as does most of the rest of the country. I would encourage anyone who has an inkling of buying this year to take a strong look at what is going on and pull the trigger. Like the stock market, the real estate market is one where you best not try to time the market. Could it decline further…certainly, but for the longer term investor, your timing couldn’t be better!

 

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