Repeat buyers are increasing market share

Real Estate Watch

February 02, 1997

First-time homebuyers might dominate the sales market, but repeat buyers are taking more of a market share, according to a survey released last week.

According to the annual Chicago Title and Trust Co. study of homebuyers, the number of repeat homebuyers, who typically earn between $41,000 and $60,000, grew last year to 24.6 percent from 22.6 percent last year.

The study also showed that among African-American homebuyers, 72.7 percent were first-time homebuyers, compared with 63.5 percent among Hispanic buyers and 44.7 percent among all homebuyers.

"We are now seeing increasing numbers of middle-income buyers purchasing their second homes," said John Pfister, Chicago Title research director.

Long acquires Eisenhart

Long & Foster has moved again into the Pennsylvania area by acquiring Eisenhart Real Estate Inc. of York, Pa.

Eisenhart's 25 agents will become affiliated with Long & Foster. Linda Edrington, manager of Long & Foster's Shrewsbury office, will assume managerial responsibilities for the former Eisenhart agents.

"Basically, it's a simple matter of the real estate business becoming very competitive," said Peggy Brillhart, one of the owner/brokers of Eisenhart. "The many changes taking place since the beginning of the '90s are making it harder and harder to compete against the larger firms."

Long & Foster, the largest real estate firm in the mid-Atlantic region, has two other Pennsylvania offices, in Hanover and Chambersburg.

Pub Date: 2/02/97

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