There is a lot of attention paid lately to prospective home buyers who are sitting on the fence. They may be the consumers who have their pre-approval letter in hand, waiting for that "great deal." They may be the determined minority who won’t settle for less and have the money in the bank to sit and wait for "the house of their dreams."

And then there are the rest … those wannabe first-time home buyers, those renters who are yearning for homeownership but are uncertain they can attain a dream that seems impossible.

Then take into account all the news surrounding subprime mortgages and mortgage programs going by the wayside. If you are a renter or a young Generation Y’er looking to break into the homeownership market, do you really understand what an increase in FHA limits means? Can that truly help your personal experience?

I have a unique angle. I am able to look through the first-time home buyer lens as a renter, as a past homeowner, as a single mom and as a minority. I have to tell you that the consumers you think may have a shot at homeownership do not believe they have a chance.

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If you enjoyed this post, you might want to read:

• Dr. Martin Luther King would understand the dream of homeownership
• Shirley Boulter Davis gives her advice for first-time home buyers in Dallas, Texas
• What first-time home buyers should consider when buying a home

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Posted by Rebecca D. Levinson

This entry was posted on Thursday, March 20th, 2008 at 6:00 am and is filed under Buyer Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.