First time home buyers are taking over!
"Nearly half of first-time home buyers in California were able to afford an entry-level home in California in the second quarter of 2008, according to a report released yesterday by C.A.R. Affordability rose to 48 percent in the second quarter compared with 24 percent a year ago."
The fact that prices have decreased so much the past months leaves a great opportunity for first timers. Not only that, new FHA guidelines allow great financing opportunities for the "not so perfect" candidate. Congratulations to all the new homeowners!
~M~
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