Editor's note: This report on the Camden, N.J., market is an excerpt from a special report by Inman News reporter Andrea V. Brambila, "10 Prime Real Estate Markets for First-Time Buyers," identifying the 10 metro markets with the greatest share of first-time homebuyers relying on mortgages backed by the Federal Housing Administration (FHA) in 2011. Art director Diane Kidawa, 38, and her husband waited until the Camden market "settled" to purchase their first home last September in Medford Lakes, N.J. The sales price for their three-bedroom, two-bathroom home was $211,000. They bought it with a USDA loan and a 3.5 percent down payment. Kidawa's biggest fear about owning a home was not negative equity -- the couple plans to stay in home for at least 30 years -- but rath...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.