Amy Bernstein: Millennials big part of today’s marketplace
Amy Bernstein has been in real estate for more than 35 years. She opened the doors of Bernstein Realty in 1985 and has been assisting buyers, sellers, tenants and landlords in all price ranges throughout Houston and the surrounding areas since. Today, Bernstein Realty has close to 70 Realtors.
Bernstein’s passion for people and real estate is what enticed her into the real estate business initially and what keeps the business exciting each day.
“I get tremendous satisfaction from sitting down with first-time home buyers and educating them on all aspects of the home-buying process. I believe a knowledgeable and informed buyer enjoys the process more when they know what to expect along the way,” Bernstein said.
Bernstein takes pride in explaining the big picture, contract details and all costs involved in purchasing a home.
“Millennials are a big part of today’s marketplace, and at Bernstein Realty, we love how information hungry and tech savvy this generation is. They often have found helpful online tools and have a good idea of what they are looking for,” Bernstein said.
Many millennials have done some preliminary research and realize the value and benefits of homeownership. Millennials are often shopping for a place to call home for three to five years and see this purchase as a long-term investment.
“High rental prices and low interest rates make buying enticing. Often, a buyer will purchase a home and have one or two roommates who help offset the mortgage payment. Another trend with millennials is choosing locations in more urban areas with shorter commutes to work and nearby amenities,” Bernstein said.
The typical first-time home buyer is 32.5 years old and has rented for six years, according to statistics from the Zillow Group.
For some buyers, there are still obstacles to entering the market, including credit requirements, inventory shortages, multiple offers, bidding wars and the competition of cash buyers.
Many first-time home buyers are economically secure and their goals for homeownership include privacy, family, financial investment, stability, physical comfort and taking advantage of low interest opportunities.
“I enjoy being involved in all aspects of the homebuying process with my clients and am there for them long after closing, to be a resource, guide and assist in any way possible. It is an honor and privilege to be someone’s chosen brokerage for life and assist through all of their life changes and moves,” Bernstein said.