Blue Home Oak Cliff

Once-affordable neighborhoods are seeing a lot of activity from investors and cash buyers, keeping some buyers out of the market. 

Eli’s coming..Eli’s coming…Well you better hide your heart, your loving heart…Eli’s a-coming and the cards say… a broken heart.

Yes, I am going to compare the Dallas-Fort Worth housing market to “Eli’s Coming” by Three Dog Night, a song about a womanizer on his way to breaking hearts. “Eli’s coming” also means that something evil or bad is on the way.  That “something” is the pending affordable housing crisis in the region.

There is an affordable housing crisis coming to the Metroplex (if not already here) and it has potential to drastically affect our cities, market, and economy in a bad way.

No this is not the crisis of 2007-2010 where loans were hard to get, prices dropped, foreclosures abounded, and inventory skyrocketed. It could be worse.

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first-time homebuyer

According to Zillow, 40 percent of first-time homebuyers are married now, compared to 52 percent two decades ago.

Who needs a spouse to buy a first house? Not too many folks anymore.

According to new research from Zillow, only 40 percent of first-time homebuyers are married today, down from 52 percent in the late ’80s.

Why is this? First, fewer people are getting married in general. Barely half of adults (51 percent) were married in 2011, according to the Census Bureau’s American Community Survey data, compared with 72 percent in 1960. Marriage increasingly is being replaced by cohabitation, single-person households, and other living arrangements (mom and dad’s house!).

They’re also waiting longer to get married—the median age for first marriage is now 27 for women and 29 for men, up from 20 for women and 23 for men back in 1960, according to new Pew Research Center analysis of census data.

This real estate trend is showing up in the Dallas-Fort Worth market. One example: ReMax Realtor Ken Lampton says he has a lot of unmarried professional women buying in the Lakewood and Lower Greenville areas of Dallas.

“They don’t have children, so schools aren’t a concern, and they are willing to buy a smaller house in order to be closer to downtown Dallas,” Lampton said.

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Moving might be the least of your worries if you're a first-time homebuyer in today's housing market.

Moving might be the least of your worries if you’re a first-time homebuyer in today’s housing market.

Every homebuyer faces a few hurdles along the way, but first-time buyers seem to have the most. Their inexperience, combined with a crowded market and sometimes time-consuming mortgage process, can make homebuying significantly more difficult for these new buyers.

Fortunately, if you’re a first-time homebuyer, the process can go smoothly. Simply study up on the all-too-common hurdles below and be prepared for the road ahead. You’ll find the perfect home in no time.

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