The average bride was 28 years old and some of them had weddings coming up in just a few months while others were planning up to 2 years ahead.  Brides came with their maids-of-honor (frequently spotted carrying huge bags of handouts), bridesmaids, grooms and parents.  Actually, there seemed to be a lot more grooms in attendance this year – so kudo’s to the men for getting involved in the planning. Everyone was enjoying the food samples and beverages (even beer & wine) as they perused the aisles. Some people were clearly “on a mission” while others were just wandering around looking dazed by all the incredible displays.  Nathan and I enjoyed checking out the other booths and had awesome conversations with the owners of the Kokopelli Winery and Emily Cross, Wedding Officiant.  The wedding cake displays were amazing (as usual) and we were surprised by some new concepts this year. It’s always amazing to see creative entrepreneurs coming up with new concepts – it’s the American Way!

We also heard from many brides that they already own a home or sometimes even two homes – and many times that they were underwater because they purchased at the height of the market in 2006-2007 -  so unfortunately they have a more complicated situation facing them.  We were happy to provide as much support/education as we could to those couples and passed out quite a few Help Packets for distressed homeowners.

In the end it was a great show and we’d definitely recommend it to brides & grooms and other vendors as well!

There will be over 600 exhibitors and more than 10,000 brides attending this year’s event. There several department stores with exhibits at the Bridal Show, surely trying persuade brides to create registries.  However, how many brides have something larger on their minds than just silverware and coffee grinders? We know for a fact that many couples already have most of their everyday household items because they already co-habitate. Perhaps one or both already own their own home and they are looking to merge households.  Experience tells us that today’s couples are not looking for a traditional wedding registry and are perhaps setting their sights a little higher – on a new home.

We anticipate that many couples will be ready to discuss real estate at the Bridal Expo, which is why we’re excited to be there.  We look forward to reporting our results on the show here on this blog – so stay tuned!

From www.messageonrealestate.com:

More and more newlyweds are realizing that they’d rather have a nest egg to purchase their first home than the traditional toasters, blenders and place settings that comprise the normal wedding gift fare.   According to Brides Magazine, more than 65% of couples live together before getting married which means that they already possess many of the items needed to start their home together – from dishes to silverware to bedding.  What they really want (and need) is a little boost to their nest egg to make home ownership attainable.  That’s why the founders of the Phoenix-based “Bequest A Nest” service developed a program to add structure the home funds gift-giving process.

Many may not realize that due to stringent FHA requirements, it’s not as simple as just creating a PayPal Account and collecting money from friends and family. And you can forget the traditional “Dollar Dance” where the bride simply collects cash on the dance floor!  Due to increased mortgage fraud in recent years there are stringent requirements around documenting gift funds for down payments on homes.  It is also important to ensure that funds are adequately seasoned.  Depending on the timing between the wedding and the subsequent home purchase, a couple might need to consult with a lender to put some additional thought into how they will set up the escrow account.

Additionally, there are many complexities that come with marriage – including thinking through how marriage will impact each spouses credit. Sometimes brides and grooms don’t realize that they are marrying their credit as well – and if one partner has a blemish on their credit report it can seriously impact the new couple’s ability to buy a home in the short to medium term. While it’s not necessarily as fun as planning the honeymoon, many couples are taking a more pragmatic approach and addressing these issues head-on prior to tying the knot.  With the average age at the time of marriage increasing to 29 for men and 27 for women according to Brides Magazine today’s couples have years of experience managing their credit and planning for large purchases.  Many have even purchased a home or two already.  Therefore, their propensity to tackle a project like saving for their down-payment during their wedding planning is higher than you would expect.

The Bequest A Nest process involves lending pre-approval along with an FDIC-insured account managed by a designated escrow officer.  Additionally, referrals to legal, tax and credit repair specialists are available to ensure that the couple can begin the home-buying process with confidence and overcome obstacles which are in their way.
With a little structure and some sound advice, couples can get started on the path to home ownership and take advantage of the incredible opportunities offered in today’s market.

1) Bequest A Nest can be used alone or in conjunction with other bridal registries. We can introduce your Bequest A Nest Fund at the time you send out your invitations, create your wedding website or begin planning your shower. We will leave the fund open for donations up to and after your wedding date.

2) Any dollar amount can be accepted – from your college room-mate’s $10.00 contribution or your Aunt Josephine’s $10,000.00 nest egg! Everyone will get a personalized “Thank You” note.

3) We have partnered with the best Escrow Officers, Lenders, Financial Planners and Realtors in Arizona to make sure that you understand how your funds can be collected and used within federal lending guidelines.  Your situation is as unique as your fingerprint and you need the program to be structured yet flexible enough to fit your home-buying timeline.

Please fill out the “Contact Us” form to get started setting up your fund today! Or to speak to someone now call 602-549-3746.