There is no more important market segment in the real estate market than First Time Home Buyers. First Time Home Buyers account for almost half the home purchase transactions in the US
Every developer, real estate professional and mortgage company needs to make sure they have First Time Home Buyers on their radar screens.
Why? Look at the Trulia Study
A study was just released by Trulia.com, focusing on the millennial market segment. The study weighed the costs of buying homes rather than renting the same properties. According to Ralph McLaughlin, chief economist for Trulia, in today’s current climate, buying makes more sense than renting.
Millennials represent many first-time home buyers and are seen as the foundation of a healthy housing market.
The Trulia study covered the nation’s 100 largest metro areas, assumed a 30 years, fixed rate mortgage with an interest rate of 3.87 percent. The study considered total monthly costs of owning & renting, maintenance, taxes and insurance and included one-time fees such as closing costs and security deposits.
But Millennials are not the only prospective First Time Home Buyers segment. Neither are All Renters.
Our First Time Home Buyer List is based on a highly sophisticated model that takes into consideration many demographic and psychographic elements, including age, marital status, income, length of residence, ethnicity, POC, modeled credit, education, and occupation. This strategy saves marketers from wasting precious marketing dollars by targeting the best possible prospects for real estate and mortgage offers.
Sure – a lot of people go on-line and poke around….but the company who reaches out to this key group by direct mail will be the one whose information gets to the kitchen table for review.