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Homebuyers AREN’T Sheep, But They Need to be Led

By a show of hands, who here has never heard of Johnny Carson? For those of you who raised your hands, suffice it to say, without him the world probably wouldn’t have a stage on which Jimmy Fallon, Conan O’Brien, Jimmy Kimmel, and Seth Myers could stand. In essence, Mr. Carson made late-night television what it is today. Even the likes of Jay Leno and David Letterman owe him a huge debt of gratitude. (If you’re getting ready to raise your hand and ask who those two cats are, I’m done.)

One of Johnny Carson’s skits was “Carnac the Magnificent” in which he would play a soothsayer and seer who could intuit things and see the future. The way he most frequently displayed this “talent” was taking sealed envelopes and answering the questions that were contained inside the envelopes. One of his most famous – the one that got the longest recorded laugh in the history of the show – was “Sis Boom Bah”, which was the answer to the question contained inside the sealed envelope: “What sound do you hear when a sheep explodes?” The written form doesn’t do the joke justice. Carson’s delivery was impeccable, take my word for it.

With that said, no one can really see into the future, but there are some smart people out there who can give us some pretty safe predictions. Read on.

According to a recent report issued by BMO Harris Bank, many Americans are gearing up to purchase a home in the coming years.

• 52% of Americans say they are likely to buy a home in the next five years
• These same folks are willing to pay an average of $296,000 for a home with a 21% down payment
• Among those who intend to buy, 78% plan to get preapproved before seriously searching for a home
• Meanwhile, 75% of current home owners set a budget before looking for a home; 16% usually spend less while 13% go over budget
• 74% of those looking to buy a new home will consult a real estate agent, while 59% said they will visit online real estate websites, and 37% will seek recommendations from friends and family

Armed with statistics like this, you are well poised to be an invaluable resource to the up-and-coming generation of home buyers. Rather than having them look at you solely as someone who knows the market and where to find the best properties, you can be the consultant/financial expert who puts them on the right path and set yourself apart from your peers – let us help you help them. It will take some patience, but the payoffs will be abundant!

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