B ut another couple, also first-time home buyers, have not been as fortunate. Although they were qualified for a mortgage, Eble explains, it was a VA loan with no money down. The couple lost out on three different houses because in each case, the sellers did not want to wait for the money to come through. They ended up competing with other buyers, even though they were approved. S hopping for a home, however, can be a long and rigorous process for first-time home buyers these days, because they generally need to find something on the low end of the price scale and there's not much there these days.
Demand is high, prices have risen, and anything affordable gets snapped up quickly.
The house is on three-quarters of an acre not far from the bike trail on Millstone Road. T he situation is much the same on the Upper Cape. He advised first-time home buyers to be flexible in terms of the properties they will consider. First-time buyers should also consider grabbing a house that has some problem that makes it less then desirable to most buyers, such as electric heat. Don't discount it because its got some little problem.