The National Association of Realtors survey looked at multiple facets of the home buying process from mid 2013 to mid 2014. Location was a big factor, as expected.

The National Association of Realtors survey looked at multiple facets of the home buying process from mid 2013 to mid 2014. Location was a big factor, as expected.

First-time homebuyers are being squeezed out, and you gotta move fast to buy! And people are hanging on to their houses for the longest time on record, according to a new study by the National Association of Realtors.

Buyers are living in their homes for ten years, up from six years in 2008, and actually expect to live in their home for 12 years. Some of it is by choice, like hanging on to a fantastic rate after remortgaging, and some by necessity, like too much debt to move, as reported by the Dallas Morning News.

The study looked at the demographics of thousands of home purchases around the United States from July 2013 to June 2014, and its findings speak to many trends we’ve noticed in the market here at CandysDirt.

Take multigenerational homes, for example. We’ve seen more builders offering them, like almost every builder on our approved homebuilder list, from Park Cities to Preston Hollow and north. (I swear Mickey Munir at Sharif&Munir invented the jazzed-up mother-in-law suite.) Texas-based builder Darling Homes is selling multigenerational homes in Frisco’s Lawler Park and Houston area’s Lakes of Cypress Forest like hotcakes.

The survey says they’re right on trend: Since 1980, the number of multigenerational households around the country has doubled, with 13 percent of buyers purchasing one of these homes to accommodate aging parents and boomerang kids in a cost-saving way.

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Millennial Homebuyers

Millennial Homebuyers are missing from the market, but Austin and Dallas may be better values first-time homebuyers in this generation over San Antonio and Houston.

Where are all the first-time homebuyers? In their cozy rentals, that’s where!

With a market almost completely devoid of newby buyers, and the rental market being as competitive as it is (just ask my friend looking for a single-family home in East Dallas!), and prices going up across all segments, it’s just hard to find a place to put your leather couch and Le Creuset stock pot. Millennials hold a lot of potential when it comes to real estate purchases, but where can the find the best value? Is it San Antonio and Houston?

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Top 10 Markets for First Time Homebuyers

North Texas is a hot area for first-time homebuyers, says Realtor.com in a new ranking released today. The data, pulled from Realtor.com searches and U.S. Bureau of Labor statistics, ranks the Fort Worth-Arlington MSA fourth and the Dallas MSA eighth in their list of top 10 markets for first-time homebuyers. Pittsburgh, Pa.; Tampa-St. Petersburg-Clearwater, Fla.; and Philadelphia, Pa.; were the top three markets for first-timers to buy.

“As we head into home buying season, these markets show favorable conditions for first-time buyers, which is encouraging because these buyers are crucial to the housing market,” said Steve Berkowitz, CEO of Move, Inc. operator of Realtor.com. “First-time buyers have a widespread impact on the local housing markets. In transitioning from renters to owners, new buyers pay property taxes and other fees and taxes associated with homeownership that benefits local schools and services.” (more…)

This is a must-read for anyone who watches HGTV’s House Hunters and almost has an aneurysm after some of the really ridiculous things homebuyers say when they’re followed around by a camera crew.

Chris Illuminati has gone and done something I’ve been wanting to do for ages: The Guyism.com blogger has turned some of the absolutely dumb things first-time homebuyers on House Hunters have said into memes. Any real estate aficionado likely cringes every time they watch these newbs tour listings looking for their “dream home.” SPOILER ALERT! Unless you build or plan to do extensive renovations, your “dream home” doesn’t exist! You’ll have to compromise!

Still, this is just hilarious, and fits much of what drives me crazy about this show. The cool, collected voice of host Suzanne Whang is the only thing about House Hunters that keeps me from going bonkers.

Make sure you read this somewhere far away from coworkers or sleeping babies, as you’ll be cracking up and saying “DUH!” over and over, much like what you do when you watch an episode of House Hunters. Here are a few of our favorites (All photos are from Guyism.com):

wall-color-1 Laminate Floors HH magic-2 countertops-4 crown-molding-7 house-party-1 closet-1

 

Have you heard any of these when showing a house? What’s the most annoying thing a first-time homebuyer says when touring a listing?

This is a must-read for anyone who watches HGTV’s House Hunters and almost has an aneurysm after some of the really ridiculous things homebuyers say when they’re followed around by a camera crew.

Chris Illuminati has gone and done something I’ve been wanting to do for ages: The Guyism.com blogger has turned some of the absolutely dumb things first-time homebuyers on House Hunters have said into memes. Any real estate aficionado likely cringes every time they watch these newbs tour listings looking for their “dream home.” SPOILER ALERT! Unless you build or plan to do extensive renovations, your “dream home” doesn’t exist! You’ll have to compromise!

Still, this is just hilarious, and fits much of what drives me crazy about this show. The cool, collected voice of host Suzanne Whang is the only thing about House Hunters that keeps me from going bonkers.

Make sure you read this somewhere far away from coworkers or sleeping babies, as you’ll be cracking up and saying “DUH!” over and over, much like what you do when you watch an episode of House Hunters. Here are a few of our favorites (All photos are from Guyism.com):

wall-color-1 Laminate Floors HH magic-2 countertops-4 crown-molding-7 house-party-1 closet-1

 

Have you heard any of these when showing a house? What’s the most annoying thing a first-time homebuyer says when touring a listing?

Homeownership

Talk about an eye-opener. This story from the Atlantic’s Jordan Weissman takes a look at a recent study from the U.S. Department of Education analyzing where a group of 27-year-olds are today.

The study found that today’s 27 year olds are educated, in debt, and living with their parents. To us, the most interesting finding was that of all the respondents to the survey, the group that attained an associate’s degree had a higher rate of homeownership than those with bachelor’s degrees or higher. About 22 percent of respondents live with their parents, of which 18 percent are bachelor’s degree holders.

It seemed that the high level of debt, both credit card and student loan debt, presented a significant barrier to homeownership, with 60 percent of respondents borrowing money for college, and 79 percent of 27-year-olds owing some money, with 55  percent at least $10,000 in debt on credit cards or mortgages.

So, how old is too old to live at home? And are you surprised that so many 20-somethings still live with their parents?

 

First time home-buyers, here’s your chance to snag an extra $2000 that might help cover the cost of, oh, new flooring.  HGTV is scouting for first-time home-buyers and their agents and say they need a whole bunch.

 “We’ll be looking for around 30 stories in the Dallas area, plenty of opportunities for you and any of your colleagues to be on TV!” the show wrote to Realtors.

This is the 11th Season of My First Place, and Dallas is quite hot with the reality show circuit, as you know: Most Eligible Dallas , The A-List: Dallas, Lifetime’s America’s Supernanny and HGTV’s My First Place. 

You know what HGTV wants: the trials and tribulations of buying a first home, from the very first surf on the real estate sites to white-knuckle bidding and closing and moving in. House, condo, townhome, shack it matters not but you do have to bare your financial history. The more drama, the better. The more energy, the better. HGTV says they are seeking “fun, high energy people” but do not want to drive more than 60 to 90 minutes outside the D/FW area. The show is in it’s 11th season.

Participants will get a memorable DVD made of their shoot. The $2000? Oh you only get that if your segment is selected AND it airs on TV. And the once-in-a-lifestime experience.

Dallas broker Alicia Trevino has been on the show before, and she is one of the agents already selected. Alicia specializes in short sales, so she fully expects some of her first-time buyers will be involved in short sale purchases — which means this ought to be one of the more interesting, and dramatic, seasons.