If you’re tired of reading all of the doom and gloom coming from the media (August 2008), I’m here to give you some good news. . . We’re seeing first time buyers coming back to the local real estate market. I’ve recently put homes in Malden MA and condos in Somerville MA under agreement with first time buyers.
First time buyers really drive the entire market. They led us out of the down turn in the real estate market in the 1990’s. When a first time buyer purchases a home, they start a chain reaction. The seller of the property they are buying now needs to find a new place to live. These move up buyers normally purchase a more expensive home. The seller of the home they buy now needs to find a new place to live and the chain reaction keeps going.