New or First Homebuyers

New or First Homebuyers


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So you are thinking on buying a house but you are not sure you can do it, due to bad credit, no credit at all or just pure and simple fear. Well let me tell you that according to some experts 2015 is the year to buy a house and Red Point Property Services can help you make the dream of buying a house a reality.There are a lot of programs out there for housing and we can help you get in contact with those. We can help you find a house, fix it and even help you move in. So go ahead read the articel and give us a call.

What Real Estate Trends to Expect in 2015

Experts predict investors will exit the market, clearing the way for traditional buyers and millennials.
by Susan Johnston

For years, many millennials have postponed homeownership in favor of renting, but that may also change next year as a growing number of Gen Yers start families and seek more stability. Redfin.com's chief economist Nela Richardson says that "By the end of 2015, millennial buyers will represent the largest group of homebuyers, taking over from Generation X," Humphries says. "They prefer smaller units closer to the urban core, so it will be interesting to see whether they follow the time-honored path towards the periphery of the metro."

Baby boomers are also likely to make a move in 2015. Chan says he's "gotten so many calls from baby boomers recently saying, 'We’re downsizing, and we're moving to be closer to our grandkids or our son or daughter.'" With fewer homes underwater, they're finally in a position to sell.

While mortgage rates may not remain at the historic lows seen recently, more people may qualify for home loans as issues like foreclosures or short sales age out of their credit reports and Freddy Mac and Fannie Mae ease mortgage eligibility. Freddy and Fannie recently announced a new mortgage program for buyers with a down payment as low as 3 percent. "Freddy and Fannie have always been the industry leaders, and they're saying, 'It's OK to lend to people who don't have 5 percent down. It's OK to extend credit in a reasonable and safe manner," Richardson says.

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