Many of the surprises in 2020 have not been fun, to say the least. However, one surprise has delighted us: the success that our first-time homebuyer clients have found in spite of the strongest sellers’ market we’ve seen in our 15 years of real estate! We had multiple-offer success after success for these intrepid, can-do buyers as a result of several important factors:
- The big, national cash investor companies halted operations in our area due to Covid-19 and related real estate market concerns. That meant our buyers didn’t have to compete against cash buyers with deep pockets. The absence of these cash investors finally leveled the playing field for first-time homebuyers who generally had only to compete with other financed buyers for the first time since 2013.
- Historically low interest rates allowed for more buying power overall, and helped financially “young” buyers overcome hurdles to qualify for a home loan.
- Our first-time homebuyers have benefited from our extensive experience in writing offers in a multiple-offer scenario. The sales price is just one of a handful of very important concessions a buyer can make when writing an offer: appraisal support, limitations on repair requests, and other secret-sauce tactics have proved to be very powerful for sellers who are comparing numerous offers.
There are many things we love about our job, but helping people purchase their first home will always be at the top of our list. It gives us so much joy to help folks put down roots, build community, and start to build financial stability for their lives. Our heartfelt congratulations go out to Neil & Caitlin, Sarah & Travis, Flo, Celise (and Kirk!), Hali & Lucas, Kath, Shannon, Jody & Kevin, and David & Mireille, all of whom purchased their first homes in crazy, stressful pandemic-ridden 2020!
Thinking about purchasing your first home? We’d be honored to help you beat the odds too!
Kari & Erika: HouseLovePDX
971-322-6612
www.houselovepdx.com
