You can give foreclosed property a new life and participate in the St. Charles region economic recoveryAnother assistance program designed to help potential buyers enter the housing market is now available from the Missouri Housing Development Corporation (MHDC). Qualified buyers can receive up to $14,999 or 20% of the purchase price on foreclosed property to use for a down payment and closing costs.This incentive will help stabilize and rebuild Missouri neighborhoods. The MHDC received $4.2 million from the Neighborhood Stabilization Program (NPS) to help consumers buy homes.Combine this incentive with the $8,000 tax rebate for first time home buyers and there is no better time to jump into homeownership.Here are the details:
Applicants can be first time home buyers or repeat buyers.
The loan is an FHA 30-year fixed rate at 5.75%.
The property must be foreclosed and unoccupied for three months.
The purchase price cannot exceed $258,690.
There are maximum income requirements set by the MHDC.
Buyers must use the MHDC First Place Loan program for the first mortgage while the NSP funds provided through the second mortgage and have a 0% interest rate, which is forgiven after five years of residency.
The purchase price must be discounted a minimum of 1% from the current appraised value.This is your chance to give a foreclosed property new life, and for you to participant in the economic revitalization of St. Charles County.
Posted by SCHNEIDER Real Estate at 10:18 PM 0 comments
Labels: Buy a home, First Time Home Buyer, foreclosure, St. Charles Missouri
Friday, August 28, 2009
Sunday, August 23, 2009
Achieving Greatness thru Gratitude
Have you ever received a thank you from someone...just because they appreciate you? Ever sent one? It has been said that people don't care how much you know til they know how much you care! There are countless reasons to thank or recognize a person, and creating this habit will surely bring good things to you. It is the law of sowing and reaping, or, the law of attraction. Getting back what you give out. Want more out of life? Become a giver...for the sake of giving! Let someone know today that you appreciate them for who they are.At the end of this writing, I am sending a note to my neighbor...no, not the one who seems to always be having a bad day....but to the one who takes such great care of his property! Do you think this matters to the people living around him?Absolutely...when someone decides to put their home on the market, it is a HUGE benefit if their neighbors have a well maintained property! I, for one, am grateful...and he deserves to know it!
Posted by SCHNEIDER Real Estate at 2:04 PM
Homebuyer Survey reveals what women and men want FREE
Issue Date: Real Estate Insider - Aug. 31, 2009, Posted On: 8/20/2009Market Trends
Homebuyer survey reveals what women (and men) want FREE
It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process.
The real estate company engaged a third-party research firm, International Communications Research (ICR), to delve into the innerpsyche of men and women, asking questions such as “How long did it take for you to know that the last home you purchased was right for you?” and “If you found the home of your dreams but had concerns about its security, would you still be interested?” Coldwell Banker Real Estate also surveyed couples on additional topics, such as “Who wears the pants in the relationship?” when it comes to making major financial decisions.
“The results were surprising,” said Diann Patton, the Coldwell Banker consumer real estate expert. “Not only did we uncover some of the inherent differences between men and women, but we also pinpointed a number of ways that the two genders are actually the same. For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.
“We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender,” she added. Patton noted this topic is particularly timely given that many first-time homebuyers are hoping to take advantage of the $8,000 tax credit before it expires on Dec. 1.
Below are some key highlights from the Coldwell Banker Real Estate study:
Women may be inclined to make up their mind more quickly than men …
When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women).
Women would rather live closer to their extended family than to their job …
55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men.
A home’s security is a deal-breaker for both men and women …
64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent).
Couples say that no one “wears the pants in the relationship” in terms of major financial decisions …
When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it’s actually mutual. However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively).
Men and women agree on how they would use a spare room, for the most part …
When the respondents were asked how they would use an extra 12-by-12-foot room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses:
Bedroom: 25 percent
Office/study: 15 percent
Family room/den: 11 percent
However, men really do want a “man cave”…
Interestingly, out of the 8 percent who indicated they would turn that spare room into an entertainment center, it was a preponderance of men leading the charge. In fact, four times as many men as women said they would use the extra space for recreation/ entertainment.
In addition to providing background on the survey results, Patton is able to offer tips for couples who are currently going through the process of buying a home. “These results further validate how critical it is for couples to recognize each other’s differences and work together, from deciding a neighborhood to how to use a spare room,” she said. “Online tools and the expertise of a real estate professional can be particularly helpful for couples, especially if they work together step-by-step along the way.”
Homebuyer survey reveals what women (and men) want FREE
It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process.
The real estate company engaged a third-party research firm, International Communications Research (ICR), to delve into the innerpsyche of men and women, asking questions such as “How long did it take for you to know that the last home you purchased was right for you?” and “If you found the home of your dreams but had concerns about its security, would you still be interested?” Coldwell Banker Real Estate also surveyed couples on additional topics, such as “Who wears the pants in the relationship?” when it comes to making major financial decisions.
“The results were surprising,” said Diann Patton, the Coldwell Banker consumer real estate expert. “Not only did we uncover some of the inherent differences between men and women, but we also pinpointed a number of ways that the two genders are actually the same. For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.
“We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender,” she added. Patton noted this topic is particularly timely given that many first-time homebuyers are hoping to take advantage of the $8,000 tax credit before it expires on Dec. 1.
Below are some key highlights from the Coldwell Banker Real Estate study:
Women may be inclined to make up their mind more quickly than men …
When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women).
Women would rather live closer to their extended family than to their job …
55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men.
A home’s security is a deal-breaker for both men and women …
64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent).
Couples say that no one “wears the pants in the relationship” in terms of major financial decisions …
When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it’s actually mutual. However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively).
Men and women agree on how they would use a spare room, for the most part …
When the respondents were asked how they would use an extra 12-by-12-foot room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses:
Bedroom: 25 percent
Office/study: 15 percent
Family room/den: 11 percent
However, men really do want a “man cave”…
Interestingly, out of the 8 percent who indicated they would turn that spare room into an entertainment center, it was a preponderance of men leading the charge. In fact, four times as many men as women said they would use the extra space for recreation/ entertainment.
In addition to providing background on the survey results, Patton is able to offer tips for couples who are currently going through the process of buying a home. “These results further validate how critical it is for couples to recognize each other’s differences and work together, from deciding a neighborhood to how to use a spare room,” she said. “Online tools and the expertise of a real estate professional can be particularly helpful for couples, especially if they work together step-by-step along the way.”
Friday, August 21, 2009
Third Quarter off to an Excellent Start!
Real Estate Sales in August have really picked up at our office. It seems that buyers are getting serious about taking advantage of the $8,000 tax credit before it's too late. A first time home buyer is one that hasn't owned a home in the last three years. When they buy, then the seller's are able to move up and the market it robust. I have a high end listing that was not producing any showings, I've had 4 this week and a few last week- YES! A mid range villa that was also experiencing no showings also had two this week. More showings on listings is always a good sign.
One thing I've noticed that is still distressing is that buyers are coming in with low ball offers. There are so many distressed properties on the market they are under the false assumption that sellers are willing to take a hit, more than they already are with the current market value. It was encouraging to see the following reports this week:
Single-Family Homes and CondosSingle-family home sales increased 6.5 percent to a seasonally adjusted annual rate of 4.61 million in July from a pace of 4.33 million in June, and are 5.0 percent higher than the 4.39 million-unit level in July 2008. The median existing single-family home price was $178,300 in July, which is 14.6 percent below a year ago.Existing condominium and co-op sales jumped 12.5 percent to a seasonally adjusted annual rate of 630,000 units in July from 560,000 in June, and are 5.9 percent above the 595,000-unit level a year ago. The median existing condo price was $178,800 in July, down 18.9 percent from July 2008.By Region:
The Northeast surged 13.4 percent to an annual pace of 930,000 in July, and are 3.3 percent higher than July 2008. The median price in the Northeast was $236,700, down 15.0 percent from a year ago.
Existing-home sales in the Midwest jumped 10.9 percent in July to a level of 1.22 million and are 8.0 percent above a year ago. The median price in the Midwest was $157,200, which is 5.9 percent less than July 2008.
In the South, existing-home sales rose 7.1 percent to an annual pace of 1.95 million in July and are 5.4 percent higher than July 2008. The median price in the South was $164,500, down 7.1 percent from a year ago.
Existing-home sales in the West slipped 1.7 percent to an annual rate of 1.13 million in July, but are 1.8 percent above a year ago. The median price in the West was $202,300, which is 28.0 percent below July 2008. Source: NAR
One thing I've noticed that is still distressing is that buyers are coming in with low ball offers. There are so many distressed properties on the market they are under the false assumption that sellers are willing to take a hit, more than they already are with the current market value. It was encouraging to see the following reports this week:
Single-Family Homes and CondosSingle-family home sales increased 6.5 percent to a seasonally adjusted annual rate of 4.61 million in July from a pace of 4.33 million in June, and are 5.0 percent higher than the 4.39 million-unit level in July 2008. The median existing single-family home price was $178,300 in July, which is 14.6 percent below a year ago.Existing condominium and co-op sales jumped 12.5 percent to a seasonally adjusted annual rate of 630,000 units in July from 560,000 in June, and are 5.9 percent above the 595,000-unit level a year ago. The median existing condo price was $178,800 in July, down 18.9 percent from July 2008.By Region:
The Northeast surged 13.4 percent to an annual pace of 930,000 in July, and are 3.3 percent higher than July 2008. The median price in the Northeast was $236,700, down 15.0 percent from a year ago.
Existing-home sales in the Midwest jumped 10.9 percent in July to a level of 1.22 million and are 8.0 percent above a year ago. The median price in the Midwest was $157,200, which is 5.9 percent less than July 2008.
In the South, existing-home sales rose 7.1 percent to an annual pace of 1.95 million in July and are 5.4 percent higher than July 2008. The median price in the South was $164,500, down 7.1 percent from a year ago.
Existing-home sales in the West slipped 1.7 percent to an annual rate of 1.13 million in July, but are 1.8 percent above a year ago. The median price in the West was $202,300, which is 28.0 percent below July 2008. Source: NAR
Monday, August 10, 2009
Things are Picking Up in St Charles, MO Real Estate
It feels a little like the good ole days of Real Estate; I personally listed a villa in St Charles in June and sold it in less than two weeks and recently listed a split level home in St Peters and sold it in 8 days! I was in the office Saturday and three of our agents were busy writing contracts. One agent wrote three contracts for buyers, another two. Our office stats for July sales were up and August looks to double July. I think the first time home buyers are finally getting off the fence and getting the message- TIME IS RUNNING OUT on the $8,000 Tax Credit. All homes must close by November 30th to qualify. Sellers are beginning to realize to sell quickly they must have the three key ingredients to sell:
- Price : Listen to your realtor- don't price high and miss all those potential buyers the first 30 days
- Condition: Spruce up with paint if needed, get rid of clutter, make a good first impression
- Location: Can't control this or the Market Conditions So make sure to give yourself the competitive edge with price and condition.
Looks like the second half is starting out strong- YEAH
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