First-time homebuyer hot spot: Camden, N.J.

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Inman Connect San Francisco, Jul 16-20, 2018

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 rather "staying employed so I can pay for it," she said. Her husband currently stays at home with their children but is in search of a full-time job. "This market is very tough. Being able ...