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Home Buying: National Association
built 649 days ago
Freddie Mac's Home Possible suite of mortgages, offered locally by Park National Bank, could boost the home buying power of nearly 1.5 million members of the United States Army, Navy, Air Force, Marines, Coast Guard, National Guard and recent retirees. To qualify for Home Possible's expanded benefits for the military, participants must be on active duty, in the reserves, or separated from their respective services by less than two years.
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Looking at home buying, CEX data shows that 49 percent of people in the GenX group own homes. Another study puts the number even higher at 68 percent. According to the National Association of Realtors, the median age of first-time homebuyers is 31. This is nearly five years younger that it was in 1993. First-time homebuyers made up 40 percent of the overall home sales in 2003.
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Parsippany, N.J., March 27, 2006/PRNewswire/—ERA Real Estate today announced the results of its annual survey of mature consumers regarding their opinions toward real estate and the home buying and selling process. The national telephone survey of more than 1,000 men and women aged 50 years and older determined that the majority of respondents (64 percent) clearly identify the single-family home as their preferred residence of choice.
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The Mortgage Bankers Association (MBA) is committed to helping first time home buyers learn about the mortgage process and is ... working to keep current homeowners in their homes. To that end, MBA has enhanced its bilingual consumer education website, http://www.HomeLoanLearningCenter.com, with a guide that was created to demystify the mortgage process, accompanied by an online calculator.
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A National Association of Realtors survey reported that 77 percent of homebuyers used the Internet to search for a home in 2005, compared to only 2 percent of buyers a decade earlier. Twenty-four percent of homebuyers said they found their home through an Internet search, up from 15 percent in 2004, the association reported. Only 2 percent found their home this way in 1997.
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