First-time home buyers face a number of challenges when starting out on the path to homeownership.
Today one of the biggest obstacles is the availability of financing. If you don't have a three percent down payment saved up your choices are limited.
Another obstacle is the process itself. How to begin? That's where a good Realtor is invaluable to a first- time home buyer.
Once you've overcome obstacle one and found financing, and overcome obstacle two and started your home search with a knowledgeable professional, it is time to consider obstacle number three.
How is the market for first-time home buyers? Is it a buyers market or sellers market?
Surprised? Its a sellers market in this price point. The data used comes from the Beaumont MLS. Data consists of single family homes throughout Southeast Texas listed in the Beaumont MLS priced from $80,000 to $100,000. Since the first of the year 147 homes in this price point have sold. There are 104 active. There are 54 in a pending status. They don't count as active or sold for this exercise.
If you are considering buying your first home don't let this be discouraging. You just need to find a good Realtor(C) to help you. If you need one call me.