Real Estate Blog - HomeGain

Andrew Duncan - The Duncan Duo & Associates on Tampa Bay's 10 - First Time Buyer News

Posted by Andrew Duncan on March 24, 2009 at 11:19 am
Hello Tampa Bay!

I was interviewed with my customer Travis Claytor yesterday as part of a POSITIVE feature on first time home buyers in Tampa Bay.  Travis and his fiance Lindsay are buying their first home (a Loft in Soho / South Tampa) and closing in Early April.  We spoke about all of the amazing opportunities in the current market and how it is such a great time to buy for first time buyers in the Tampa Bay area.  With amazing tax incentives, lower prices and great interest rates - NOW is the time to buy!  The copy of the story posted on Tampa Bay's 10 and link to the video are below.

To become a more educated first time buyer and learn more about the home buying process in today's market, request a free copy of Keller Williams Realty's "Your First Home - The Proven Path to Home Ownership" at our website linked here.

Click Here for the Video/Story on Tampa Bay's 10

Tampa, Florida - A new report released today by the National Association of Realtors says that existing home sales went up 5.1 percent in February.

Travis Claytor is a first-time home buyer. "It's a great time to be buying a house. Prices have come down, interest rates have come down," he explained.

Claytor is not alone. Experts credit first time homebuyers for the increase in home sales.

"I think that most economists in Tampa would say that we're pretty near the bottom in terms of the price decline," said Andrew Duncan, an agent with Keller Williams Realty.

Experts also believe that part of the reason for the five percent increase in existing home sales last month is the $8,000 rebate offered to first-time home buyers. They expect sales to go up even more come spring time.

"Even if prices did drop a little bit more, if interest rates were to rise, which there is certainly a possibility of that, you'd offset the gain by getting a lower price. So, I believe it is the best time to buy."

It can be an intimidating time for first-time buyers.

"Inspections, financing, the survey, dealing with the lenders side, showing documentation of your income, showing your taxes," explained Duncan.

He said your first step is figuring out what you can afford.

"Make sure you're prequalified for the loan, make sure you have a down payment, make sure that the payment is something that you're comfortable with and make sure you're comfortable with the purchase," he said.

The process has been lengthy for Claytor and his fiancee. They started looking in October and now six months later, they've finally found the place they'll soon call home.

"You know, we wanted to get out there and get something that was perfect for us and we wanted to get a good deal and I think that's what we got," said Claytor.

  • For more tips for first-time homebuyers, click here.

     

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