I’ve been very clear that our current market isn’t good for every person’s situation. But for some people, it’s absolutely a great time to be buying property. If you’re a first-time home buyer, the newly revised tax incentives make this a once in a lifetime opportunity.
This piece from USAToday, First-time buyers find deals, help perk up house sales, talks about great deals that could be found with distressed properties. The author used a couple of examples, one from Atlanta, Georgia and another from Mason City, Iowa.
Kelly Butler just got a bargain. Sure, her new three-bedroom home came with fake barn wood nailed to the bathroom walls, carpet that had to be ripped up, broken closet doors and a need for plumbing and tile work.
No matter. Butler, 27, and her husband, Jim, 28, represent the new face of today’s home buyers: first-timers who are snapping up distressed homes and fixer-uppers that are being sold at bargain prices.
Up to 45% of homes being purchased today are in that category, according to an April report by the National Association of Realtors (NAR) — and that’s a major force driving existing home sales. First-time buyers accounted for more than half of all home sales in March, with activity concentrated in lower price ranges.
But what about here in Louisville, KY? I’ve been bouncing around a few ideas on how to best highlight any bargain properties I find here in Louisville in my work as a Realtor®. Starting next week, I plan to start posting a Louisville Home Bargain that will spotlight a property I found that is priced below market value. Sound enticing? Stay tuned!