As many first time home
buyers, or people relocating to Beaverton, Oregon, are
finding out, the
inventory for good quality homes in the lower price ranges is small and
in high
competition. Now, you would think that would mean the
prices would
start to
rise here, but that just isn’t happening yet. But, what is happening is
the
homes that are in good condition, at a good price, are getting many
offers in
one day.
If you are a first time home buyer about to
enter the market or you are
someone
considering moving to Beaverton, Oregon,
I’m sure you have been on
the
websites starting to look at the homes that you think you can afford
and like
many others you are starting to get discouraged. Don’t, at least not
yet. There
are many great homes coming on the market everyday, but the key is to
be ready!
What
does it take to be
ready? First of all, you need to get pre-approved. This
will help you
find out
what you are qualified to purchase and then you need to have your down
payment
ready, because once you start looking, you may find that dream home
within a
week or two.
This can be a scary time
because it may feel like you just started
looking and
the next thing you know, you are calling a moving van to help you move
in to
your new home. This is normal, but if you aren’t prepared
to buy, and
don’t
have everything ready, then this is when you start to get discouraged.
One of the things that
happen in a buyers’ mind is that because they
have heard
it is a buyers market than they feel they can put in a low offer on
everything
they see. Most of the homes that first time home buyers,
and people
looking to
relocate to Beaverton,
Oregon,
are looking at are at the lower end
of the price range. There is still a lot of competition out there and
if you
lowball your offer, or aren’t ready with your down payment, you will
lose to
another offer, or worse, just be turned down by the seller.
Right now there is a great opportunity presenting itself in real estate, especially if you are a first time home buyer. One of the things the government is offering you right now, if you are a first time home buyer, is an $8,000 tax credit. This can help offset the down payment or closing costs for your new home. (You can read more about that on my other post dedicated to the $8,000 tax credit) But, if you are willing to live about 10 minutes from Beaverton, there are some great homes available that don’t require a down payment at all! The USDA is giving no money down loans on homes outside the urban growth boundaries to help these communities.
If you are in the market for a first home or are looking to relocate to Beaverton, Oregon, I would love to help you out in the home buying process. I help make the process as stress free and enjoyable as I can and I look forward to calling you neighbor and showing you why I call Beaverton home.
Todd Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739
Other articles for 1st time home buyers:
Buying your first home doesn’t have to be stressfulDon’t let the inspection scare you!
First Time Home Buyers can realize a $8,000 tax credit if they buy before December 1, 2009
1st time home buyers, know the facts before you start looking
©2009 Todd Clark - First time buyers moving to Beaverton are finding it harder and harder to find low priced affordable homes
I love Beaverton. I traveled up there because my customer was Nike. Very nice area. We almost decided to relcoate up there.
Todd - This is happening in our area too. It is a great time to buy a house, but you must be ready when the right home comes along.
Todd, Sounds like some good news for some Beaverton sellers. I hope many buyers read your post and act accordingly.
Dear Todd,
I live in the Cape Coral, Florida area and this is also happening here. The investor's once again taking over the market and leaving the qualified homebuyer in the dust. I emphasize to my buyers to be prepared and diligent but some learn unfortunately by passing up on what they wanted.
Good words here. The pre-approval is such an important piece now. It really is. Tear it up Todd.
Todd, for some odd reason all the affordable homes and great deals are getting snapped up all over the NW...
Todd
It's all about being ready. Pre-approval in hand, and ready to pull the trigger when the home comes up.
We are finding the same thing here multiple offrs and some over full price on the lower priced homes.
Many buyers are surprised how difficult it can be to buy right now in the lower price ranges; I'm working to help them not be discouraged.
We are finding the very same thing here in Northern Nevada! All of our really really good deal are GONE! I don't know if this is good or bad! Time will tell!
I would like to say it has gotten better in the last two weeks with so many new homes go on the market, but we have just as many buyers looking. If you are a first time home buyer, you need to act quickly if you want to qualify for that first time home buyer tax credit.