How about some quick facts, from the National Association of REALTORS® Profile of Home Buyers and Sellers 2011!  Oh and remember, this is a NATIONAL survey, not specific to Santa Maria and/or Orcutt, or even just to California.  Sometimes it is fun to see what happens nationwide.

• The estimated median monthly mortgage principal and interest payment of a first-time homebuyer was $794.
• The estimated median monthly mortgage principal and interest payment of a repeat buyer was $1,006.
• 94% of buyers financed their home purchase, including: 96% of 25-44 year olds, 82% of 45-64 year olds and 66% of buyers 65 and older.
• 35% of buyers had a down payment of 20% or more.
• The average buyer financed 89% of the home purchase.
• 94% of first-time homebuyers chose a fixed-rate mortgage.
• 54% of first-time homebuyers used a low down payment FHA mortgage.
• 84% of buyers purchased a previously-owned home and 16% purchased a new home.
• The median household income of homebuyers: $80,900.
• 64% of all buyers are married couples, 18% are single women, 10% are single men and 7% are unmarried couples.

I’d like to see David Letterman beat that Top Ten List!!

Have a great February 29, and if you’re ready to take a leap into real estate (pun intended), give me a call at (805)937-5777 or send an email!