Northern Virgnia first-time homebuyers
Category: Family and Home > Home
Asked by: cbaltimore-ga
List Price: $25.00
01 Oct 2006 21:02 PDT
Expires: 31 Oct 2006 20:02 PST
Question ID: 770054
What are the demographics of first-time homebuyers in the Northern Virginia/Washington DC metro area real estate market?
Re: Northern Virgnia first-time homebuyers
Answered By: belindalevez-ga on 16 Oct 2006 09:18 PDT
<Northern Virginia first-time buyer demographics. The typical Northern Virginia buyer spent five weeks shopping, saw nine houses and moved only 8 miles to the next home. The median income of entry-level Northern Virginia buyers was $86,100 and 68 percent of first time home buyers were aged 25 to 34 years. First time home buyers accounted for 38 percent of houses bought in Northern Virginia compared with 40 percent nationally. This article also has national statistics for first-time buyers. Source: National Association of Realtors. As reported by Sandra Fleishman. Washington Post. March 25, 2006. http://www.washingtonpost.com/wp-dyn/content/article/2006/03/24/AR2006032400916_pf.html This report gives income details of first time buyers in Washington D.C. who claimed under the Tax Credit Program. 72.7 percent of first-time home buyers participated in the program. Source: Zhong Yi Tong. http://www.fanniemaefoundation.org/programs/pdf/dctaxcredit_rpt.pdf 670 moderate and low income families have gone through the Fairfax County First-Time Homebuyers program. 131 dwelllings in the First-Time Homebuyers Program were occupied by employees of Fairfax County or Fairfax County Public Schools. Source: Fairfax County Redevelopment and Housing Authority. http://18.104.22.168/search?q=cache:Pj6rFYLRDKoJ:s70ntgc31.co.fairfax.va.us/rha/strategicplan/fy2007strategicplanactionplan.pdf+%22sun+gazette%22+%22first-time+buyers%22+survey&hl=nl&ct=clnk&cd=2> City renters transforming themselves into city homeowners appears to be a major trend, previously unreported by NARPAC. A recent survey of current DC home buyers indicated that 68% were already DC residents, predominantly renters. Source: Narpac Inc. http://www.narpac.org/RCI.HTM <Search strategy:> <"northern virginia" "first time buyers" survey> <://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=%22northern+virginia%22++%22first+time+buyers%22++survey&lr=> <arlington "first time buyers" survey > <://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=arlington+%22first+time+buyers%22+survey++&lr=> <"washington dc" "home buyers" survey> <://www.google.com/search?hl=nl&rls=GGLG%2CGGLG%3A2006-26%2CGGLG%3Aen&q=%22washington+dc%22+%22home+buyers%22+survey&lr=> <Hope this helps.>
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