Women & The Housing Market

Information from Fox 29 Consumer Reporter Michelle Buckman:

Several reasons for the increased purchasing power of unmarried women in the United States, according to the National Association of REALTORS®:

1.) Single women in certain professions make more money than their male peers - our recent economic troubles have highlighted this fact as women in careers traditionally dominated by women, including healthcare and education, have held steady while male-dominated industries have suffered.

2.) Many single women are interested in finding ways to safeguard their net worth - as women become increasingly independent; they are taking a greater interest in finding ways to protect their net worth.

3.) Single females are becoming interested in supplementing their income and subsidizing their mortgage, not just saving for their retirement. The current real estate climate with low prices and interest rates has created an opportunity for them to do so.

4.) Widowed seniors still comprise a good percentage of the single women who are purchasing homes. This demographic has remained relatively steady while single women as a demographic has increased.

For more info and real stories from local homebuyers, check out www.realstorynj.com

Looking to buy? Check out the book “Own It! The Ups and Downs of Homebuying for Women Who Go It Alone” by author Jennifer Musselman jennifermusselman.com

Musselman says get into the game while you have the chance to get ahead. Consider the 5 points below why:

1.Home prices have decreased substantially. With homeowners in over-their-heads from inflated mortgages during the housing boom and mortgage lending companies’ money spread too thin, home prices are ripe for the buying.

2.Lock-in low interest rates. With stricter lending policies, it is tougher to get a loan, for sure. But if you’ve been saving and have a good down payment and excellent credit, mortgage lending companies are desperate to recoup some of their money.

3.You get more bang for your buck. With homeowners needing out, short sales and homes with more room or “extras” are yours at bargain prices.

4.No to few competitive offers. People are scared of what’s to come. Now’s the time to jump on what could have been theirs, but because you didn’t hesitate, you scored.

5. Everybody always needs a home. Buy inexpensively now. Upgrade down the road when the market prices have soared.