First-time buyers are jumping into the market.

The latest National Association of Realtors (NAR) survey of home buyers shows that first-time buyers have risen in market share from 36% of all transactions in 2006 to 41% today.

According to the NAR, the median age of a first-time home buyer was 30, down from 31 in 2007. The study also stated that first-time buyers plan to stay in their home for 10 years, up from 7 years in 2007.

Other notes of interest in the study:

* Median income for a first-time buyer was $60,600.00

* The typical first-time buyer home cost $165,000

* Median down payment 4%, up from 2% in 2007

* The number purchasing with no money down fell from 45% in 2007 to 34%.

If you are a first-time home buyer and would like someone to represent your best interests in your home search please contact us at info@bostonreb.com.

 I won’t make you sign a buyers agency agreement unless you want to.

Source: NAR Survey

Photo courtsey of Flickr

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

Comments

comments

Call Now