Realtors hope now is the time for first-time buyers

For Immediate Release On: 4/22/2009

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NORTHGLENN - This is the time of year when real estate sales usually pick up and local Realtors are hoping first-time home buyers will help the market recover.


They make up about 40 percent of the housing market, according to the National Association of Realtors.

A number of incentives also make it a prime time for the first-time buyers.

"It's been really fun," Amy Moore said. "We had planned to wait until summertime to start looking but decided to go ahead and look and found what we liked."

The Moores closed on their very first home in Northglenn just a few weeks ago. With their own paint colors and twice as much space, they are now paying less than they were when they were renting.

"Interest rates were awesome," Moore said.

"Most people think it's a great time to buy," Jim Lyons, a broker at Keller Williams Realty, said.

Lyons and other brokers are reaching out to first-time buyers, even holding classes for potential clients.

"There are programs out there that almost provide a no-down payment for first-time home buyers," Lyons said.

Many financing incentives are also there for those with good credit. The federal stimulus plan includes an $8,000 tax credit for people who buy their first home this year before Nov. 30.

Home prices are also at bargain levels.

The Moores paid $20,000 less for their home than the previous owner.

"We decided that now was a really good time for us," Moore said.

Since they are planning to stay put for awhile, the Moores weren't too worried about the future of the real estate market, but do hope they've just gotten in at the very bottom.

"Their ability to get into a home these days with the low interest rates and some of the programs that are out there for first-time buyers, just phenomenal right now," Lyons said.

About Trenka & Associates: Trenka & Associates is one of Downtown Denver's leading Real Estate Companies. http://www.condosandlofts.com

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