A recent study by a Real Estate company surveyed 300 first-time homebuyers who purchased a home in the last year and found that 87 percent of those queried want to buy homes that are in move-in-ready condition. First-time buyers essentially want to buy a home that is affordable, but don't want to spend the time and additional money to improve a fixer-upper like they did in years past.

The study also found that 67 percent said the market afforded them the opportunity to buy a home sooner than expected. Half said they found a home in a more desirable neighborhood than expected, and 61 percent were able to get the home at a better price than expected.