The Top 5 Kinds of Home Buyers from 2013

John Burns, Real Estate Consulting CEO, states in his interview, on Bloomberg TV “Street Smart”, that these are the expected buyers from 2013:

• Boomerang Buyers – These are buyers who have gone through a foreclosure and have been waiting and working towards getting their good credit scores back.  They may have been among the working that were laid off and lost their homes.  They are now probably renting single family homes for more than the cost of a mortgage. Tips For Boomerang Buyers
• Investors – These buyers were the first to re-enter the market and have been back buying for about 2 ½ years. It seems to have really paid off for them. Tips For Home Investors
• Move-Up Buyers – This group consists of growing or new families who are looking to expand their families or have out-grown their starter homes.  These buyers have built some equity in their homes and are able to move it to a bigger home. Move-Up Buyer Tips
• Move-Down Buyers – These are empty nesters or people that bought a home 10-12 years ago and would like to down-size now.  Buyers who have retired and want to down-size not only the size of their home but the size of their mortgage also. Move-Down Buyer Tips

• Entry-Level Buyers – These are the first time home buyers.  It isn’t as easy to buy your first home as it used to be.  Since the down-turn lasted about 7 years these new buyers may have been waiting for a long time to be able to buy their first home.  Lending changes may mean that these buyers have to save money for a down payment while they rent. Tips For First Time Home Buyers