Home-Sale Hassles of the Rich and Famous

Home-Sale Hassles of the Rich and Famous
Some how I just can't feel sorry for them, how about you?????

Anybody having trouble selling their home should take comfort in the fact that even celebrities are having the same problem. Here are some celebs who can't seem to sell their houses:
Jon and Kate Gosselin, co-stars of the popular TLC show "Jon & Kate Plus 8," have been trying for three months to sell their former home in Elizabethtown, Pa.
Rapper 50 Cent has given up selling his mansion in Farmington, Conn., after dropping the price from $18.5 million to $14 million.
Richard Gere and wife Carey Lowell have dropped the price on their home in New York's Hamptons from $8.8 million to $7.2 million.
Model Elle Macpherson cut the price of her London Victorian from $9.5 million to $8.5 million, and has since dropped it to $7.5 million.
Star of "Real Housewives of Orange County" on BRAVO TV Jeana Keough, also a real estate practitioner, is facing foreclosure.

Source: Chicago Tribune, Mary Umberger (06/21/2009)

Survey: Households Say Now Good Time to Buy

More than three-quarters (78 percent) of potential first-time home buyers say that now is a good time to buy a home, despite widespread concern about the economy.

Out of the 1,000 prospective U.S. first-time home buyers surveyed in early March for the CENTURY 21 First-Time Home Buyer Survey, 68 percent think now is a better time to buy than six months ago.

Prices are the driving motivation for potential first-time home buyers with more than eight of ten first-time home buyers (85 percent) saying they consider current home prices affordable and 73 percent citing that taking advantage of current prices is a major factor in their decision to buy.

Interestingly, potential first-time buyers are still split between “being willing to consider an offer now” (42 percent) and “waiting for prices to go down before they seriously consider making a purchase” (48 percent).

“Current pricing, rates and incentives, such as the First Time Homebuyer Tax Credit, provide tremendous opportunities for first-time home buyers to get into the market,” said Tom Kunz, Century 21 Real Estate president and CEO. “Our research shows that while consumers still have concerns about the future of the economy, many are actively considering their options as we move into the spring selling season.”

Among the survey’s other key findings:

• Bargains in the marketplace are providing additional options for buyers to consider. 56 percent of potential first-time home buyers are considering purchasing a foreclosed or short sale home, and 63 percent are open to purchasing either a “fixer-upper” or “as-is” home.

• When asked to rate the features that they look for when choosing a home, price is the primary consideration with 87 percent saying this feature is “very important,” followed closely by neighborhood safety (80 percent) and the condition of the home (71 percent).

• Having enough money for a down payment is a top concern of potential first-time home buyers as nearly half (46 percent) said they are “very worried” about the issue.

• Most respondents (86 percent) are in the market for single family homes.

Source: Century 21

A Bright Week!

Along with Spring came a sunny rally by the stock market this week and that's not all! Our office experienced a bright week as well. Along with our listing showings experiencing a dramatic increase so did our phone leads. It was pleasant to see agents back in the swing of showing property, writing contracts and closing sales. Our office is doing a mass mailing to our SOI with a brochure explaining the $8,000 tax credit available for First Time Home Buyers. The brochure answers many of the frequently asked questions the general pubic have regarding the rules and regulations of the buying credit. With interest rates staying at record lows and inventory priced lower than in years past the time is NOW to buy. We have also noticed that Lending Institutions are coming up with loan products to stimulate buying not only by owner occupants but investors as well. First Integrity gave an awesome seminar this week at the St Louis Association of Realtors. The panel discussion was led by their Operations Manager, Underwriter, two appraisers and the owner of their company. The room was packed and conversation lively. Everyone working together brainstorming ideas has got to pay off for the consumer and our industry. Indeed it's warming up out here! Posted by SCHNEIDER Real Estate at 12:46 PM Labels: FHA Assumable Loans, home for sale, loans, real estatae, SCHNEIDER Real Estate, St Charles, st charles county, st louis county, tcredit for first time buyers