First Time Home Buyer? This is YOUR time!

February 24, 2009

Chicago Agent Magazine says if you are a first time home buyer, this is your time to purchase a new home.  With interest rates at their lowest in almost 50 years and a wide selection of housing choices available in the Chicagoland area, 2009 might be the year of home ownership for many who had previously been unable to take the plunge.

Opportunities exist today especially for the young, first time buyer in the Chicagoland condo market.  If purchasers have a good job, a solid credit score and some cash for the down payment, they are finding unprecedented deals available to them.

Economists are saying that first time home buyers are the key to recovery in the current housing market.  When entry level buyers come into the market, they are allowing current home owners to move up to bigger homes.

To entice these buyers, many developers are offering incentives and prices are lower than they have been in many years.  The main advantage for those that are currently renting is that if they purchase an affordable home, they will start to build their equity.   (To read the rest of the story, click here.)

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