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16
Ruhl Markets GREAT for First-Time Homebuyers
In 2015, the National Association of Realtors reported that the percentage of first-time homebuyers had dropped for the third consecutive year from 33% to 32%. Historically, the long-term average shows that nearly 40% of primary purchases are from first-time homebuyers. Currently, two cities served by Ruhl&Ruhl Realtors sit on the 2016 list of the best cities for first-time homebuyers, as studied by WalletHub. The cities were ranked by affordability, real-estate market, and quality of life. Affordability is broken down into housing, average cost of homeowner's insurance, cost of living, cost per square foot, and real-estate tax. Each category is weighted for an overall total of 33.33 points. Real-Estate Market is broken into rent-to-price ratio, housing-market health index, percentage of homes sold in one year, median home-price appreciation, and foreclosure rate. Each category is weighted for an overall total of 33.33 points. Quality of Life includes recreation ranking, recession recovery ranking, weather ranking, school systems ranking, driver-friendliness ranking, jobs availability ranking, total home-energy cost, violent crime rate, and property-crime rate. Each category is weighted for an overall total of 33.33 points. Once given scores in each set of categories, the cities are then ranked based on their overall totals. They are also given rankings based on their scores in each individual category. Check out the breakdown of the cities we serve below! Number 4: Cedar Rapids, IA Out of all the cities on the list, Cedar Rapids was ranked 17th in affordability, 82nd in real-estate market, and 47th in quality of life. It was given a total score of 64.44 out of 100. Number 16: Davenport, IA Out of all the cities on the list, Davenport was ranked 28th in affordability, 103rd in real-estate market, and 69th in quality of life. It was given a total score of 62.43 out of 100. Buying a home for the first time is never easy. We've broken everything down into a simple Buyer's Guide, which can also be found on our website. The first step is determining what you want. Write down your wish list on paper, and figure out your needs. The second step is to determine a timeline based on the typical 45 day closing process, and the third step is to figure out what the current market conditions are. If you still have questions about the home buying process, call us at (866) 441-1776, and we will put you in contact with one of our agents! Or you can contact one of our agents at ruhlhomes.com.
