First-time homebuyers in the market jumped nearly 10% from 2008 to 2010, and that increase is expected to continue through the next few years. According to Brian Buffini's Real Estate Report the average household income for a first-time homebuyer was $59,900. With several well structured loans, assistance programs and owner occupied purchaser incentives this remains a prime market for first time homebuyers. Although we are still patiently awaiting our slow recovery in the economy, prices have been assumed to have hit their low and a steady increase is near. The city of San Jose in particular, and its immediate surrounding areas, is the #1 city projected to have the quickest and most fluent recovery from 2011-2014.
There are numerous benefits to owning a home versus renting. If you have even thought of purchasing a home this year, now is the time to reach out for insight and to do your research.
Please feel free to always contact me with any questions.