Thursday, May 21, 2009

A Realty Trac survey results revealed that first-time homebuyers represent the group most interested in purchasing foreclosure property. Two-thirds of U.S. adults between the ages 18-44 (66%) comprised largely of first-time homebuyers would consider purchasing a foreclosed home, compared to a little more than one third of those ages 55 and older (38%). Respondents aged 45-54 fell in between, with 53% indicating that they would be at least somewhat likely to consider a foreclosed property.

First-time homebuyers are a big part of the foreclosure market. The local Atlanta Multiple Listing Service reports that in recent closings around 50% are foreclosures . Most of the financing for a foreclosure is cash from investors and FHA loans for first-time homebuyers.

Don't forget about the $8000 tax credit a first time buyer can get if they buy a home this year.
www.sharondevans.com

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