Author: Carrie B. Reyes

First-time homebuyers decline

Have currently low interest rates influenced your homebuyer clients’ decisions to buy? Often. (60%, 47 Votes) Sometimes. (24%, 19 Votes) Rarely. (15%, 12 Votes) Total Voters: 78 First-time homebuyers are declining nationwide. Surveys indicate first-time homebuyers make up 31-35% of all buyers, down from a normal figure of 40%. First-time homebuyers are decreasing due to: the increased cost of FHA financing; lender uncertainty about forthcoming regulatory changes; and competition with speculators. Lenders who have been successful at increasing their first-time buyer clients have used educational outreach programs to introduce this population and their agents to first-time buyer programs. first...

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Zestimates are great conversation starters with sellers and buyers. Zillow has done more for our bottom line than NAR ever has or will. Don’t fight the current of the river, learn to run with it. Disruption is inevitable in any industry that is fragmented or inefficient. Granted, it does feel like armchair experts and platforms are plentiful in real estate these days, but when the tide rolls out we will see the value proposition of the truest professionals in this industry shine once again.

Justin Bonney, on Zillow’s impact on the real estate industry

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