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On first blush, it looks like it's tough sledding in today's hot seller's market. After all, there are still multiple offers on the table for each listing, and more than likely, the seller tends to select from those with sizable down payments. Because it's a hot seller's market, the seller tends to call the shots and make the demands in the negotiations.
However, it is possible for a first-time homebuyer with zero downpayment to succeed. I have personally negotiated as Buyer's Agent an offer with 100% financing successfully in today's hot seller's market. There are conditions, to be sure, but the point is that it is certainly possible.
Granted, there are some limitations, but the fact that there is the possibility of success is encouraging for the buyer. As buyer, once you successfully obtain your first-home, you have the opportunity to improve your equity position. Then, a few years later, you can move-up and be in a much better position to get your dream home as you will likely have a more competitive down payment from cashing in your equity of your first home.
The bottom line is that with proper planning from the right Realtor, it can be done. It will not be for any home listing on the market, but you need a Realtor who knows the market and can navigate a deal for you. In addition, there needs to be a lender that is willing to offer the 100% financing. I can provide advice on this matter.
As a professional Realtor who understands first-time homebuyer needs and the realities of the existing marketplace, I can help you find your first home that you can use as a stepping stone to home ownership.
Give me a call and perhaps I can help you. I give free consultation and there is no high-pressure pitch. Phone me at (310) 832-8916 and we can discuss your situation.
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Ruperto Elpusan, RealtorŪ, e-Pro, at your service!
Bankers Realty
627 Silver Spur Road, Suite 202
Rolling Hills Estates, CA 90274
Phone: (310) 832-8916
email: Ruperto@FindHomesOnTheWeb.com
Websites: http://www.FindHomesOnTheWeb.com