home buyers

Millennials are shaping the new housing market – A look into the details

home buyers

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As millennials are gradually getting older and grabbing jobs, they are beginning to book their new homes. Though entering the housing market seems to be delayed for few of them, yet as per reports from Zillow, the millennials are currently the leading generation of homebuyers. There are many who hold a false opinion about the millennials. If you take them collectively, they are considered as later bloomers as compared to their previous generations. People perceive that this generation is not much interested in settling down on their own and owning things. The millennials are purchasing homes and the millennial homebuyers are helping to power the present real estate market throughout the nation.

Millennials are the biggest group of home buyers

As per a recent study that was published by NAR and the Home Buyer and Seller Generational Trends of 2017 show that millennials are currently the biggest group of buyers who are booking their new homes and they constitute almost 35% of the entire market. Baby boomers represent 28% and hence millennials have surpassed the baby boomers as well. You’ll be surprised to know that this is the 4th consecutive year where millennials are being counted as the generation of most active buyers. The trend will continue soaring when this generation keeps growing, settling down and buying new homes .

The chief economist of NAR or National Association of Realtors reported that the millennials have been extremely slow in entering the market but off late, there is an uptick in the number of buyers who belong to the millennial generation. This is indeed a positive sign for the economy as with the rise in home values, there should be a larger number of people who should take part in the housing recovery process. Polls by NAH or National Association of Home-builders reveal that 90% of the millennials wish to buy a home some say.

What are driving the numbers?

It’s clear that this generation is taking quick action as they are the ones who see the values of homes rising and the interest rates getting lowered down. They are reaping the benefits of the opportunity to purchase their first-ever home with a mortgage loan which they can afford. One more natural thing is that the other end of the millennial generation is reaching that stage where it is natural to buy real estate. People are in their early 30s and late 20s and they’re settling down with their careers in starting off with their families.

One of the biggest concerns for the first-time home buyers is the burden of monthly payments. They might not afford to pay enough money down and for them the VA and FHA loans could help with better and reasonable rates.
It is great to see people buying their first homes and it is pretty good to know that millennials are acting faster. This is not only helping the country to continue with the recovery of the housing market, it will also power the real estate market.


In Need of a Sale? How Specialist Homebuyers Could Benefit You

Securing a quick sale can prove to be a minefield, but sometimes it’s the only way to get yourself out of a sticky situation without forfeiting everything. If your debts have mounted up and bankruptcy is on the horizon, your home could well be your only remaining source of equity. However, the UK housing market remains volatile, and it’s not unheard of for properties to take a year or more to sell. If things have progressed to the point of no return, you simply don’t have the luxury of waiting so long for capital to come through.

This is where specialist home buyers can be of benefit. Guaranteed to make you an offer and affect a quick sale, they can prove to be the lifeline that the desperate and the downtrodden so desperately need.

First-Time-Homebuyers1How Quick Buyer Companies Work

Quick buyer companies tend to be an online estate agent like House Buyer Bureau. These companies work by buying houses outright for a cash sum, and ensuring that the whole sales process is completed within a week or less, quickly freeing up a large equity source for the seller.

This is quite different to selling your home through an ordinary agent, where the property would first have to be marketed then sold to an independent party before a final sale was achieved. This process frequently takes months, and it is not unheard of for it to run to years.

It is for this specific reason that quick buyer companies were invented. Where there is no time for a cash buyer to be found, they step into the role of purchaser. All that you, as a seller, need to do is contact them and tell them what you’re offering. The process is very quick and simple. Generally, you’ll fill in a form online telling them a little about you and your property. You’ll receive a return call almost immediately, from an experienced professional who can discuss your situation in more detail. Following your conversation, they should come back to you with a cash offer within a matter of hours. Provided that you’re happy with it, the transaction should take no more than a week from start to finish, ensuring that you have money in the bank when you need it most.

The Benefits of Quick Buyer Companies

As you can see, quick buyer companies have many benefits, the most important among them being speed. For those who need a quick injection of capital into their account, they pose a much more reliable solution than traditional alternatives.

Aside from this, the sales process is far more straightforward, and almost totally stress-free. There is no question of whether or not your house will sell, nor or how long it will take, nor is there a middleman to complicate things. There is only you and the company who need to negotiate with each other, and you know that there is no way that your sale can fall through.

Many will argue that a downside to the process is that the amount you’re offered for your property will be less than market value. However, if you weigh things up, you’ll see that this is balanced out by the welcome fact that, cash-strapped as you are, you will not need to lay out for commission, solicitor’s or legal fees.

When you look at it like that, isn’t it a wonder that we’re not all turning to quick buyer companies to sell our homes for us?

Image Credit: http://chesinc.org/services/homeownership-resource-center/for-home-buyers/


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