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Buyers Remorse >First Time Buyers

People who are selling their homes should know something about the market group from which their buyers are likely to appear. Many homes are perfect for a first-time buyer. First-time buyers are making a major purchase they have never attempted before, and may be unusually subject to the inevitable stress and anxiety that goes with buying a home.

First-time home buyers are usually younger (between 25 and 34 years of age) and have distinct buying patterns. First-timers are often looking for homes that are smaller, and perhaps older, than repeat buyers. The median home size for first-time buyers is about 1450 square feet. Approximately four in ten first-timers will buy homes built before 1960, compared to two in ten repeat buyers.

First-time buyers are in the process of developing a clearly defined sense of what they want in a house. They may not have enough money to buy their ultimate dream home at first, but seventy-four percent say they like their new home better than their previous residence.

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Q	What real estate term was first used in the 19th century and means "a high-flying flag on a ship"?
A	Skyscraper was first used in the 1880s when office buildings of 10 stories or more were built in Chicago and New York.
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The Wendy Willis Group, REALTOR®, real estate agent and broker for Newburyport, West Newbury and Newbury, Massachusetts home listings, property and land for sale - NUMBER1EXPERT(tm)

The Wendy Willis Group
Coldwell Banker Residential Brokerage
61 State Street
Newburyport, MA 01950
978-270-1872
Fax: 978-992-4081
TheWendyWillisGroup@NUMBER1EXPERT.com

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