Interest in Foreclosures: First-time homebuyers tend to work with smaller budgets compared to repeat buyers, which increases the incentive to buy a foreclosure, according to blog from Doorsteps.com, a website that provides information to help potential homebuyers.
Citing a survey from the National Association of Realtors (NAR), the website noted 65 percent of first-time buyers are open to the idea of purchasing a foreclosure despite all of the uncertainties surrounding distressed properties.
In addition, first-time buyers are also more likely to buy a foreclosure compared to a repeat buyer, according to the website.
Delinquencies See Biggest Year-to-Date Drop Since 2002:
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