According to statistical analysis, the average homeowners will move once every seven years. Couples will rent their first apartment for about two years while they save up for the down payment on a house. This is the American dream, and right now national interest rates are as low as they have ever been. Depending on a buyer's credit history, the rates could be as low as five percent on a fifteen year mortgage, which is nothing to laugh at.
Most first time homebuyers are moving from an apartment into a home to begin a family and the rational process of building equity in their first real-estate purchase. The average income and financial resources of the buyer determine the size and price range of the home they can afford.
There are a few areas of the country that have been hit especially hard in the last few years, and property values have hit an all-time low. First time homebuyers have been able to make a reasonable down payment, and the price is much lower than it was about five years ago.
If anyone remembers the eighties, then they may remember that interest rates of up to eighteen percent were quite common, and while this caused monetary problems for many, the number of homes being bought and financed did not drop. In fact, there were several thousand, and the American dream had become viable once again.
A house that was about one thousand square feet in a planned subdivision would sell for around ten to fifteen dollars per square foot, and while that might sound like a bargain today, the average wage during that time was somewhere around a dollar sixty-five per hour.
The current financial situation will determine everything, including the price of houses. With lower wages came lower housing prices, and as wages raise over the years, the price of housing will raise. It's all relative, and with that being the case, the price of housing never fluctuates much, relatively speaking.
When the word suburbia became a common word, the returning service men and their wives began a population growth or "baby boom", and that meant more housing and apartments. The government did their part with a financial lift known as the GI bill and government backed loans from the VA, or Veteran's Administration to help with home ownership.
Those homes of the late forties and fifties, if cared for properly, even though they are over sixty years old now, are now selling for between sixty and ninety dollars a square foot. Inflationary trends have affected every corner of commerce, but the home is a perennial hedge against most financial woes and has provided a shelter for the homeowner and real estate investor. If a purchase is in the picture, a good Realtor is worth far more than the cost.
Most first time homebuyers are moving from an apartment into a home to begin a family and the rational process of building equity in their first real-estate purchase. The average income and financial resources of the buyer determine the size and price range of the home they can afford.
There are a few areas of the country that have been hit especially hard in the last few years, and property values have hit an all-time low. First time homebuyers have been able to make a reasonable down payment, and the price is much lower than it was about five years ago.
If anyone remembers the eighties, then they may remember that interest rates of up to eighteen percent were quite common, and while this caused monetary problems for many, the number of homes being bought and financed did not drop. In fact, there were several thousand, and the American dream had become viable once again.
A house that was about one thousand square feet in a planned subdivision would sell for around ten to fifteen dollars per square foot, and while that might sound like a bargain today, the average wage during that time was somewhere around a dollar sixty-five per hour.
The current financial situation will determine everything, including the price of houses. With lower wages came lower housing prices, and as wages raise over the years, the price of housing will raise. It's all relative, and with that being the case, the price of housing never fluctuates much, relatively speaking.
When the word suburbia became a common word, the returning service men and their wives began a population growth or "baby boom", and that meant more housing and apartments. The government did their part with a financial lift known as the GI bill and government backed loans from the VA, or Veteran's Administration to help with home ownership.
Those homes of the late forties and fifties, if cared for properly, even though they are over sixty years old now, are now selling for between sixty and ninety dollars a square foot. Inflationary trends have affected every corner of commerce, but the home is a perennial hedge against most financial woes and has provided a shelter for the homeowner and real estate investor. If a purchase is in the picture, a good Realtor is worth far more than the cost.
About the Author:
Lance Mohr is a specialist in the Tampa real estate market with more than 13 year experience as a Realtor. If you have any questions or are looking for an hard working Realtor give me a call. For details on Tampa luxury homes or Tampa home prices please visit our website at http://www.Tampa2Enjoy.com.
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