Session One-1/14,1/21,1/28,2/4,2/11 (Tuesdays) 5:30pm-8:30pm
Session Two-3/8,3/15,3/22,3/29 (Saturdays) 9:00am-1:00pm
Session Three-4/8,4/15,4/29,5/6,5/13 (Tuesdays) 5:30pm-8:30pm
Session Four-9/9,9/16,9/23,9/30,10/7 (Tuesdays) 5:30pm-8:30pm
Session Five-10/25,11/1,11/8,11/15 (Saturdays) 9:00am-1:00pm
Light supper or breakfast served at each class!
All TUESDAY EVENING classes held at Metro Interfaith
21 New Street, Binghamton
All SATURDAY MORNING classes held at FirstNiagara Homeownership Center
112-122 State Street, Binghamton
TO REGISTER, Call 722-5415 or 723-0723 or
Per the November/December issue of the “New York State REALTOR” magazine, here is a summary of some top economists outlook for 2014….food for thought!
“What is your outlook on the overall economy going into 2014?”
Chief Economist Lawrence Yun stated, “I expect higher mortgage interest rates…the 30-year fixed rate mortgage…should reach 5% by the middle of the year.” However, that’s still not a bad rate, considering that back in the early 80′s, 30-year fixed rate mortgages topped out between 14%-16%!
Syndicated economics columnist Elliot Eisenberg, a former senior economist for the National Association of Home Builders, commented as follows, “Total housing sales will go up and new home construction activity will be better. It won’t be spectacular, but better than it’s been of late.”
“What are your 2014 housing market forecasts for the nation and New York State, in particular?”
Yun states, “The first-time buyer share (of the market) will likely remain…at 30% of all buyers.”
Eisenberg states, “First-time buyers are to some extent missing in action, and this is a bit of problem…I’m seeing vast increases in sizes of new homes because that market is not being weighed down by first-timers…usually tract homes are built for first-timers. Banks will look at first-timers to gain market share.” Good news for first time homebuyers because 2014 will bring “first time homebuyer friendly” mortgage products to the forefront again. The main challenge for our current “first-timers” is high college debt and low to average credit scores. These challenges will have to be overcome in order for the “first-timer’s” to hit their par market share of 40%.
All the more reason for first time homebuyers to look at the benefits of pre-purchase homeownership education and counseling to prepare them for future homeownership and the opportunity to realize the “American Dream” of owning their own home.
The Academy is pleased to partner with NYSAR and First Niagara to offer a new class for local Realtors that will help them become specialists in working with first-time homebuyers.
2013-14 PREFERRED PROVIDER PROGRAM Presents:
“First Time Home Buyer Specialist”
This NYSAR approved course offers 9-Hours of Continuing Education Credits, and will be facilitated by
Michele Clark, CRA Residential Lending Specialist for First Niagara Bank.
The class will be held at the Binghamton Homeownership Academy’s new classroom, which is located at 112-122 State Street, Binghamton, and is tentatively scheduled for the first quarter of 2014.
For more information and to be placed on the course wait list, please email Michele Clark, <firstname.lastname@example.org