First Time Home Buyers…

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December 2, 2012 by Jeff Lowen

Are You One? Who Do You Know That Is?
…What About Your Kids??
Leah and Victoria in our office have been putting on some amazing First Time Home Buyer Seminars once monthly at our office training room (Of which you’re all invited!). Including lenders, title companies, home inspectors, etc!

With the Mortgage Interest Deduction, many first time home-buyer programs and creative solutions to financing, these days, our politicians have made owning real estate public policy. So why then, is the
education of the basics of buying, owning and selling real estate withheld from our teens? Now, I’m not necessarily saying that we should be offering “Jim Dandy’s Get Rich Quick Real Estate Investing Seminar in-a-box” as an elective in high school, but why are not offering more opportunities about basic real estate practices, and better financial smarts to be a homeowner without being house-poor to the younger generations? We all know now, that if you want to buy a home, and you’re offered a loan with no money down, no payments or interest for five to seven years, and that’s really the only way you can buy it… It’s probably not the best idea! …Just an opinion, of course 😉
Why didn’t we know that then? Some of us did. Many of us did not.
Currently, there are so many changes and updates in the real estate world, if you’re not a full time, career professional, it’s easy to become lost in translation! It only makes sense that we promote some foundational basics as part of our kids’ repertoire, doesn’t it? I may be asking too much, but in recent years it really has become apparent that the real estate industry and the in and out-flux of property owners is and are one of the major driving forces of our economy.

Why not promote the importance of home-ownership as we do the story of Captain John Smith and Pocahontas in our schools? Either way, at this point it’s probably wishful thinking, but until it becomes a serious curriculum, I think we’re on our own. Who better to do something about it! We are putting together a fun class for kids and young adults to share the basic principles that make real estate exciting; while promoting a responsible perspective on the importance of getting there. We want your comments, suggestions, questions, answers and input to help make this experience a fun and informative process. Not just to do a couple hours worth of dry lip service and refreshments, but to ensure participation, activity and involvement. Imagine having an intelligent conversation with your kids at the dinner table about real estate related content that’s quite thought provoking! Could you learn something from them? Would you?
Aside from that, do we still have dinner table conversations? That’s a topic for another article! For now, whether dinner table or in the car while driving together is a great venue in my opinion!
Should you have a son or daughter that is particular interested in the entrepreneurial spirit, at any age- here’s a link to some great sites that offer resources to feed the hungry!

“In 2011, 37% of all buyers were first timers. Down from a whopping 50% in 2010!” NAR Profile of Buyers and Sellers 2011


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