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Annette Lawrence , Palm Harbor, FL 727-420-4041, Making FLORIDA Real Estate EZ (ReMax Realtec Group)

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2,187,593
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

I'm a purist. A First Time Homebuyer is a First Time Homebuyer, not someone who has bought a home ever before... regardless of the time lapse.  You don't become a virgin because you haven't had intimate relations for 3 years or more.

May 14, 2019 01:34 PM
Rainmaker
4,582,184
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Like Carol Williams said born-again virgins might exist on an episode of Sex And The City but not in real estate.  

May 14, 2019 01:37 PM
Rainmaker
679,404
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

After reading and re-reading all I could think of was "what difference does it matter?"  Sorry this gave me a headache. IMHO

May 14, 2019 08:16 PM
Rainmaker
1,056,272
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I agree with Carol. Re-entries not a first time buyer.

May 14, 2019 04:28 PM
Rainmaker
1,846,901
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Chicago Suburbs, I would say that LO info would be more inline because after all, they check out peoples credit reports. How would NAR know except by poll? Which is more credible?

I have not worked with anyone that repurchased from the crash. 

I guess I'll go with 31% but I believe that LO figures would be more credible.

May 14, 2019 03:33 PM
Rainmaker
469,510
Dan & Laurie Pittsenbarger Team
Keller Williams Western Realty - Bellingham, WA
Lakeside & Coastal Single Family Homes

FTHB make up much less than either of those numbers in our county so I'll go with the NAR number because its the lower of the two.

May 14, 2019 02:01 PM
Ambassador
6,417,434
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

After reading this 3 times I am wondering 60 or 31 percent of What?

May 14, 2019 01:32 PM
Ambassador
2,456,409
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

I agree with Carol. First time buyers shouldn't include repeat buyers, regardless of time lapse. 

I went back over my 2017 and 2018 (NY) deals, and out of the buyer closings, 50% and 37.5% were first-time home buyers in terms of my deals. Granted, it's a very small universe but I would disagree with both figures above.

May 15, 2019 02:55 AM
Rainmaker
2,399,936
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I'd guess that the AEI number would be more accurate Annette Lawrence , Palm Harbor, FL 727-420-4041 

May 14, 2019 06:51 PM
Rainmaker
1,553,330
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Insufficient data and not sure how it serves my current marketing so not concerned which is correct; 75% of stats are made up. 

May 14, 2019 04:36 PM
Rainmaker
2,221,377
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I wonder what data was used to come to those percentages and information.

May 14, 2019 03:20 PM
Rainmaker
1,092,947
Diana Zaccaro Broker Associate
ZOOM Realty Group - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Neither. They are based are different data sources and it is impossible to know how accurate those sources are.

The mortgage data report is questionable since it is not known if that was from banks only, mortgage brokers only, etc.

The NAR data is suspect since it is based only on responses from REALTORS who responded to a survey and does not indicate what % of REALTORS responded to said survey. (HINT: Most do not even bother to respond).

Therefore, the integrity of the data from both reports is at issue. And the interesting thing about numbers is that you can arrange them however you want to get the desired result.

 

May 14, 2019 03:18 PM
Rainmaker
5,112,471
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I have no clue. Does the NAR number included those quasi-first time home buyers or not? Are we comparing apples to apples?

May 14, 2019 02:50 PM
Rainmaker
5,772,581
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Annette,
I am an iconoclast. And I say, don’t sweat the small stuff, it is all small stuff ! LOL. A

May 14, 2019 01:42 PM
Rainmaker
759,485
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

A FTHB is a FTHB, not someone who has allready bought- so as much as I dislike saying they're right, I'll go with NAR's figures.

Did you know you can now buy the whole 2018 report for only $19.99 (that's the Realtor price)? It should be free.

May 15, 2019 04:54 AM
Rainmaker
1,728,156
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

AEI is closer to being accurate in our opinion from actual buyer experience

May 14, 2019 03:55 PM
Rainmaker
7,863,184
Roy Kelley
Retired - Gaithersburg, MD

Too complicated for me.

May 14, 2019 03:02 PM
Rainmaker
1,201,477
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

To me, a first-time buyer is a first-time buyer. A buyer rentering after 3 years of not being a buyer only works with first-time buyer for mortgages

May 15, 2019 09:53 AM
Ambassador
5,254,035
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

For once, I'm in agreement with NAR! 

Seriously, 'RE-entering the market' after 3 years says it all. That does not denote a first time homebuyer. 

May 15, 2019 07:38 AM
Ambassador
3,349,404
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I do not believe either is correct.  I like the virgin analogy. Perhaps first time needs to be defined or redefined. 

May 15, 2019 09:44 AM
Rainmaker
1,241,754
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

My first time buyer twenty something often can come up with 400K cash down.  

May 15, 2019 06:06 AM
Rainmaker
5,239,023
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Carol Williams covered the issue from my point of view.

May 17, 2019 05:10 AM
Rainmaker
1,323,044
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

The source of the data in not qualitatively equal.

May 16, 2019 02:09 PM
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