First-time Vero Beach homebuyers now account for only one-third of all home purchases, the lowest share since 1987.

That's according to an annual survey conducted by the National Association of Realtors, which questioned a random sample of people who purchased homes between July 2013 and June 2014.

First time Vero Beach homebuyers seem to be vanishing according to the National Association of Realtors

Reasons First Time Vero Beach Homebuyers Are Vanishing

Of the many reasons first time Vero Beach homebuyers seem to be disappearing, rising rents and repaying student loan debt makes saving for a down payment more difficult, especially for young adults who've experienced limited job prospects and flat wage growth since entering the work force. Adding even more trouble for would-be first time Vero Beach homebuyers, those finally in a position to buy have had to overcome low inventory levels in their price range, competition from investors, tight credit conditions and high mortgage insurance premiums.

Wages should go up as the job market continues to improve, but first time Vero Beach homebuyers report that getting a mortgage is a lot harder than they expected.

NAR Chief Economist Lawrence Yun said in a statement recently, "Less stringent credit standards and mortgage insurance premiums commensurate with current buyer risk profiles are needed to boost first-time buyer participation, especially with interest rates likely rising in upcoming years."

The median age of first time homebuyers nationwide was 31, and their median income was $68,300. Their typical purchase: a 1,570-square foot home costing $169,000, something that is increasingly more difficult to find in the Vero Beach real estate market.

The typical repeat buyer, by contrast, was 53, with an income of $95,000. Repeat buyers bought bigger and more expensive homes.

Home sellers, meanwhile, are getting older: 54 on average now vs. 46 back in 2009. The typical seller has been in his or her house for 10 years — a new high.

If the share of first time Vero Beach homebuyers continues to shrink, many homeowners who would like to move up to a more expensive house may find it harder to sell their current home.

To stay abreast of news that affects the Vero Beach real estate market, bookmark our site and check back often. We also post tips and news daily at Twitter and Facebook.  Be sure to follow us there.

So you started thinking about selling your Vero Beach real estate, and you figure: Let's wait until the spring or early summer before listing. The yard will look its best and potential buyers will be out in force. And everybody knows that winter is dead time for Vero Beach real estate. Right?

Well, that's the widely held belief. But national statistical studies suggest it's not necessarily the case.

Buying or listing Vero Beach real estate during the winter can be a surprisingly advantageous time to do so

Advantages of Buying Vero Beach Real Estate During Winter

Winter — officially Dec. 21 through March 20 for the current season — can be a surprisingly advantageous time to list, shop, negotiate and buy Vero Beach real estate. Consider some findings by researchers at Redfin, the online realty brokerage.

Redfin studied home listing, sales price and time-on-market data from 2010 through this past October from around the country, updating a two-year analysis it completed last year. It concluded that if you want to sell for more than your asking price, listing in December, January, February and March gives you a better chance, on average, than if you list any time after June through November.

During the past three years, listing during these four months has produced higher percentages of above-asking price sales than any months other than April and May. In 2012, at the inception of the housing rebound, December listings produced the highest percentage of above-asking sales for the entire year: 17 percent.

Researchers are quick to note that the advantages of listing their Vero Beach real estate in winter compared with other seasons are not huge. But the fact that winter produces at least competitive or better results by some measures should encourage some potential sellers to get into the game sooner rather than later.

For potential buyers of Vero Beach real estate, the winter season may find some sellers more flexible about negotiations over prices and terms than they would during the middle of the spring.

In its two-year study completed last December, researchers found that sellers of Vero Beach real estate were better off listing their homes in the winter than during any other season.

Bottom line: Vero Beach real estate does not hibernate from December through March. More than 5 million homes typically are resold annually in the United States, and many of them are listed and sold during the winter months. In strong local housing markets such as Vero Beach , the likelihood of selling your home within 180 days is higher when you list during the winter months compared with any other season, according to Redfin's 2013 study.

With the forecast of higher mortgage rates on the horizon, there may never be a more affordable time to buy Vero Beach real estate than right now. Talk to us about rates, and where prices are for Vero Beach real estate. We're here to help you in any way that we can.

We have more articles about buying and selling Vero Beach real estate in the sections on Vero Beach Home Buying Tips and Vero Beach Home Selling Tips under our Vero Beach Real Estate Categories to your right.

Don't forget, we also post tips and news about Vero Beach real estate and other general real estate news daily at Twitter and Facebook.  Be sure to follow us there.

With Christmas now just a few days away, chances are you still have gifts to buy. But what are the best gifts for those people on your holiday list who say they have everything?

We have more tips for you at the link to your right under Vero Beach Real Estate Categories.
And don't forget, we post tips daily on Twitter and Facebook. Find us there as well.

The burden of Vero Beach household costs fell for the third consecutive year, according to the U.S. Census’ 2013 American Community Survey. Nationwide last year, 39.6 million households spent more than 30 percent of their income on housing, which is a decrease from 40.9 million in 2012 and down from the peak of 42.7 million in 2010.

Vero Beach household costs are mostly dropping among home owners, while they continue to strain renters

Vero Beach household costs are mostly dropping among home owners, while they continue to strain renters, according to a recent analysis by the Harvard Joint Center for Housing Studies of the data. In 2013, 26 percent of home owners were considered burdened by household expenses (i.e.: spending more than 30 percent of their income on housing), compared to half of all renters at 49 percent.

Why Vero Beach Household Costs Are Escalating For Renters

The number of renter households is on the rise, which partially explains why Vero Beach household costs for renters are escalating. But renters are also plagued by rising rents that are not matching incomes. Median renter costs were up about 5 percent in 2013 compared to 2001, even though median incomes were nearly 11 percent lower, according to the report.

This has led to more renters being severely burdened by Vero Beach household costs in 2013, paying more than 50 percent of their incomes toward housing costs. 11.2 million renters were in this category.

The number of home owners burdened with higher Vero Beach household costs is dropping. After surging during the housing bubble, inflation-adjusted owner costs have dropped about 2.5 percent below their 2001 level. Owner burdens are also down due to a significant reduction in the overall number of home owners in 2013 than 2012. This decline in the number of home owners for the third straight year suggests that many burdened owners dropped out of ownership, moving into the costly rental market.

Get more timely information about Vero Beach household costs and news affecting those costs in our section on Vero Beach Real Estate News to the right under Vero Beach Real Estate Categories.

We post daily to Twitter, and also on our Facebook Page. We'd love you to check us out there too.

Many young "would-be" Vero Beach homebuyers are finding themselves in a position that young Vero Beach homebuyers haven't been in before.

Statistics tell us there aren't as many young Vero Beach homebuyers as there used to be. Thirty-six percent of American homeowners are 35 and younger, the lowest on record since 1982, when the census's Housing Vacancy Survey began tracking homeownership by age. Those age 65 and older have a much higher rate of homeownership – 80 percent – but that's expected. The longer you live, the more time you've had to save and buy a house.

Many young Vero Beach homebuyers are beginning to wonder if they've done something wrong, and will they ever have a place of their own.

Vero Beach homebuyers are finding themselves facing financial hurdles

Financial Hurdles for Vero Beach Homebuyers Today

There are numerous factors pushing against millennials' plans to become Vero Beach homebuyers, including the economic hangover from the recession, but student loans are a major obstacle. Even if a lender doesn't see your massive student loan debt as something that could prevent you from making a mortgage payment, plenty of potential homeowners do.

Student loans have kept many potential Vero Beach homebuyers on the sidelines in recent years, and that trend is poised to get even worse going forward.

Other "would-be-buyers" are burdened with the lack of any credit history at all. Lenders generally see you as a risk if you have no credit history.

The best advice most lenders have for young Vero Beach homebuyers is to establish some credit as soon as possible. Getting a credit card will help, providing you don't abuse it and turn no credit into bad credit. The average millennial is two to four times more likely to make a late payment than older generations. So be careful with credit cards.

Your geography may be an obstacle. If you graduated from college and moved to  Vero Beach with a lot of student debt and no other credit, your chances for becoming one of the few Vero Beach homebuyers in your age bracket to own their own home is slim.

If you have good credit, a good job, some funds for a down payment, and are not strapped with a lot of student debt, getting a mortgage may still be a challenge if you're using the bigger lenders. Sometimes it's better to shop the smaller lenders and credit unions. Oftentimes they may be willing to keep your mortgage "in-house" rather than re-selling your loan to Fannie Mae or Freddie Mac.

Smaller lenders can work around some circumstances and situations with less red tape, and without having to worry about guidelines on the loan resale market.

Consider an FHA loan. These loans are insured by the Federal Housing Administration and are for first-time Vero Beach homebuyers, although the FHA defines that as anyone who hasn't owned a house in three years. Generally, you'll need a down payment of at least 3.5 percent and a credit score of at least 580, although some lenders won't even begin a discussion unless you're in the mid-600s.

Talk to as many lenders as possible, and see what specific programs they offer and what the best rate around is. Go in person to a branch office and speak directly with a loan officer. Your chances of becoming one of the newest Vero Beach homebuyers is much better going that route than trying to apply online, or through a larger lender.

We can help you find the best lender for your set of circumstances. Contact us and let us help you get on the right path to becoming a Vero Beach homebuyer.