First time buyers

[Reality]

They can’t afford to buy at this time. A small percentage with above average incomes may be able to afford a starter home, or they got money from mommy and daddy, etc. But for the most part prices still exceed incomes.

Those who partook in the loose lending couldn’t afford it either. In actuality the houses own them (the ones not forclosed on yet).

If you have to ask “how can they afford it”, they can’t. Which means that prices have to drop more. Simple.

[robyns_song]

Exactly my point. The first time homebuyer’s program is a joke right now.

[robyns_song]

Exactly my point. The first time homebuyer’s program is a joke right now.

[robyns_song]

Exactly my point. The first time homebuyer’s program is a joke right now.

[robyns_song]

Exactly my point. The first time homebuyer’s program is a joke right now.

[robyns_song]

Exactly my point. The first time homebuyer’s program is a joke right now.

[SD Realtor]

In general I will agree with that point, that it is close to impossible or next to impossible for first time homebuyers. However, I will say that of the first time homebuyers I have been working with who do have alot fo money saved up, demographically they tend to be either Asian or Indian, and are mostly dual income earning couples who have been diligent and patient and have made a concerted effort to save substantial monies for downpayments. In a few cases also there are some white females who have also done a good job at substantially saving money for dps.

No this is not an endorsement to buy, just a snapshot of the demographics of people I know who are first time buyers and have saved alot of money up over the past few years.

[SD Realtor]

In general I will agree with that point, that it is close to impossible or next to impossible for first time homebuyers. However, I will say that of the first time homebuyers I have been working with who do have alot fo money saved up, demographically they tend to be either Asian or Indian, and are mostly dual income earning couples who have been diligent and patient and have made a concerted effort to save substantial monies for downpayments. In a few cases also there are some white females who have also done a good job at substantially saving money for dps.

No this is not an endorsement to buy, just a snapshot of the demographics of people I know who are first time buyers and have saved alot of money up over the past few years.

[SD Realtor]

In general I will agree with that point, that it is close to impossible or next to impossible for first time homebuyers. However, I will say that of the first time homebuyers I have been working with who do have alot fo money saved up, demographically they tend to be either Asian or Indian, and are mostly dual income earning couples who have been diligent and patient and have made a concerted effort to save substantial monies for downpayments. In a few cases also there are some white females who have also done a good job at substantially saving money for dps.

No this is not an endorsement to buy, just a snapshot of the demographics of people I know who are first time buyers and have saved alot of money up over the past few years.

[SD Realtor]

In general I will agree with that point, that it is close to impossible or next to impossible for first time homebuyers. However, I will say that of the first time homebuyers I have been working with who do have alot fo money saved up, demographically they tend to be either Asian or Indian, and are mostly dual income earning couples who have been diligent and patient and have made a concerted effort to save substantial monies for downpayments. In a few cases also there are some white females who have also done a good job at substantially saving money for dps.

No this is not an endorsement to buy, just a snapshot of the demographics of people I know who are first time buyers and have saved alot of money up over the past few years.

[SD Realtor]

In general I will agree with that point, that it is close to impossible or next to impossible for first time homebuyers. However, I will say that of the first time homebuyers I have been working with who do have alot fo money saved up, demographically they tend to be either Asian or Indian, and are mostly dual income earning couples who have been diligent and patient and have made a concerted effort to save substantial monies for downpayments. In a few cases also there are some white females who have also done a good job at substantially saving money for dps.

No this is not an endorsement to buy, just a snapshot of the demographics of people I know who are first time buyers and have saved alot of money up over the past few years.

[Raybyrnes]

If you are thinking La Jolla, 1st time homeowner might not work. But there are more than enough areas where this limit is more than enough.

2008 HOMEOWNERSHIP PROGRAM INCOME LIMITS ATTACHMENT A

SAN DIEGO
EXISTING RESALE NEW CONSTRUCTION
1or2 Person 3+ 1or2 Persons 3+
Moderate Income$ 94,800 $ 110,600 $ 94,800 $110,600
Low Income $ 56,880 $ 65,412 $ 66,360 $ 76,314

[Raybyrnes]

If you are thinking La Jolla, 1st time homeowner might not work. But there are more than enough areas where this limit is more than enough.

2008 HOMEOWNERSHIP PROGRAM INCOME LIMITS ATTACHMENT A

SAN DIEGO
EXISTING RESALE NEW CONSTRUCTION
1or2 Person 3+ 1or2 Persons 3+
Moderate Income$ 94,800 $ 110,600 $ 94,800 $110,600
Low Income $ 56,880 $ 65,412 $ 66,360 $ 76,314

[Raybyrnes]

If you are thinking La Jolla, 1st time homeowner might not work. But there are more than enough areas where this limit is more than enough.

2008 HOMEOWNERSHIP PROGRAM INCOME LIMITS ATTACHMENT A

SAN DIEGO
EXISTING RESALE NEW CONSTRUCTION
1or2 Person 3+ 1or2 Persons 3+
Moderate Income$ 94,800 $ 110,600 $ 94,800 $110,600
Low Income $ 56,880 $ 65,412 $ 66,360 $ 76,314

[Raybyrnes]

If you are thinking La Jolla, 1st time homeowner might not work. But there are more than enough areas where this limit is more than enough.

2008 HOMEOWNERSHIP PROGRAM INCOME LIMITS ATTACHMENT A

SAN DIEGO
EXISTING RESALE NEW CONSTRUCTION
1or2 Person 3+ 1or2 Persons 3+
Moderate Income$ 94,800 $ 110,600 $ 94,800 $110,600
Low Income $ 56,880 $ 65,412 $ 66,360 $ 76,314

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