The National Association of Realtors recently published the following article, http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=354615, explaining the challenges first time homebuyers are facing. It's especially true in our market here in Central Florida. So, how can a smart home buyer make their offer stand out? Utilize these four strategies:

1. Get a full Desktop Underwritten Loan Approval, instead of just a Pre-Approval Letter. The fully underwritten approval is already documented and underwritten subject only to an executed contract and acceptable appraisal. It lets the listing agent and sellers know you ARE a strong buyer!

2. Eliminate asking for closing costs. One strategy financed buyers utilize is to offer higher than list price then ask for your closing costs back, making it essentially a full price offer but as the article above demonstrates, a low appraisal can kill that strategy. There are many first time home buyer programs available that can help you with the down-payment requirement of the transaction so that the money you have saved for the down payment can go towards your closing costs, thereby making the seller's net equal to a cash offer.

3. Make the inspection and appraisal contingency periods as short as possible. Seven to ten days from contract execution keeps you competitive and lessens the risk to the seller of wasted market time. 

4. Include a personal note to the seller about how wonderful their home is and how proud you would be to own their home and take care of it. Mention raising your family there if appropriate. This personal appeal to the seller often helps. as many sellers want to have a positive impact on a new family's future. It gives them the satisfaction of leaving a positive legacy as they move on to the next stage of their life. 

First time home buyers should ALWAYS use a professional and knowledgeable real estate agent/broker and loan officer experienced with the challenges you may face in your particular market to come up with your winning strategy!