News & Updates

Why Some First-Time Buyers Are Skipping Starter Homes

First Time Buyer ChoicesIn May 2016, U.S. News and World Report published a real estate article titled "Where Have All the Starter Homes Gone?" That headline highlights one of the main reasons why some first-time home buyers are skipping the starter-home stage of ownership. There simply aren't very many entry-level choices on the market.

Wary of bidding wars, steep down payments and the battle for mortgage approval, some first-time home seekers have opted to remain renters or to return to their parents' homes in order to save for a purchase later. But others who have higher paying jobs and/or sufficient savings to qualify for home loans are choosing to purchase what would have once been considered a "move-up" home.

Shortage of Entry-Level Homes

The U.S. News article indicated a lack of affordable condos, which were once a staple of the first-home market. During the 1980s and 1990s, there was a boom in new construction of inexpensive condominiums as well as conversion of older properties, such as apartment buildings, into condos.

The demand for condos was so strong that a shortage of skilled labor developed. This led to faulty construction and unhappy homeowners in some areas. Eventually, some states, such as Colorado and Washington, passed construction defect laws to protect consumers. Unfortunately, the laws caused developers to back away from condo construction and, particularly, the lower end of the market. It's the classic rock-and-a-hard-place...

First Contract For is celebrating its first contract!

myrtle-beach-homes-for-saleMelanie Reaves, a CRG Companies Realtor, connected with a buyer shortly after the launch of and was able to provide her client with all the tools necessary to find the home of their dreams. This included personalized online searches and real-time local MLS listings. With the use of our real estate focused website and expert, qualified Realtor, the homebuyers from Virginia found exactly what they were looking for, a Myrtle Beach family vacation home.

We realize the internet is a valuable component in searching for homes as many of our clients are often relocating to the Myrtle Beach area from out of state. was developed to meet the needs of buyers with the most relevant, innovative features to make the process of searching for a new home enjoyable, reagardless of where you are.

Our goal is to connect homebuyers with the information they’re looking for as quickly as possible. With these cutting-edge tools and our expert team of agents, we’ve simplified the process of finding the perfect home. From your first inquiry, our client care team goes to work assisting you with property searches and notifications...