Existing Home Sales Are Up

There’s a glimmer of hope in the housing market. Existing home sales increased in February 2009, at a rate of 5.1 percent, according to the National Association of Realtors (NAR). Chief economist Lawrence Yun says that first-time buyers accounted for half of all home sales last month, with activity centered in the lower price ranges. He attributes this increase to more potential homes buyers learning about the $8,000 tax credit for first time buyers.

Merle Schneider of the St. Charles County Association of Realtors notes that “locally, most of the statistics are better than the national numbers. More buyers are looking for homes and we are in the traditional spring-early summer home buying season.”

Schneider, who is co-owner of SCHNEIDER Real Estate, adds “with the stock market beginning a slight rebound, buyers and sellers have a more positive outlook on their financial futures. Home ownership has always been the core value for American security. Recent statistics show that we have begun to re-invest in housing stability.”

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9 Tips for Homebuyers

As demand for homes is expected to increase this Spring, Bankrate.com offers 9 tips for homebuyers.

Buyers have access to the lowest mortgage rates in years and an $8000 first time home buyer tax credit that does not have to be repaid if the homeowner lives in the home for at least three years. This should improved demand side for the housing market and with these nine tips, buyers should be moving in to their new home soon.

1. Cash is king. With down payment increases from FHA and Fannie Mae, cash has more buying power than before.
2. Negotiate everything. Home sellers will be offering more incentives to sell their home quickly. Consider asking for seller paid closing costs, property taxes, and home association fees.
3. Save for a down payment. Set up a budget and include savings. The ideal goal is for 20% down on your new home.
4. Determine how much home you can afford. Understand what you would like your monthly payment to be before finding out what amount you qualify for.
5. Improve your credit score. Check your credit report for reporting errors, pay your bills on time, and do not cancel or close any open accounts.
6. Research the local housing market. As you work with your local Realtor, search online to find out how long homes have been on the market and what they have sold for. The more you know, the better off you are in negotiating your purchase.
7. Watch for certain neighborhoods. A Realtor will be able to help you avoid traffic issues, zoning changes, and higher crime areas.
8. Consider foreclosed homes. With the number of foreclosed homes on the markets banks should be eager to sell.
9. Look ahead. If you don’t qualify for a mortgage today continue to watch the market and keep up your savings.

For assistance on qualifying for your home purchase or for a Realtor referral contact us directly at JaneNicoletti@schneidersells.com or 636.946.5553 ext. 216.

Source: Bankrate.com
9 Tips for Homebuyers and Sellers in 2009
February 24, 2009

Frequently Asked Questions about First Time Home Buyer Tax Credit in Missouri

Click the $8,000 gift to download First Time Home Buyer Tax Credit Frequently Asked Questions PDF

Social Media Meeting

When and Where:
Thursday, April 9
Time11:00 p.m.
The Columns Banquet Center
711 Veterans Memorial Pkwy
St. Charles, MO 63303
(636) 947-4729
$15 for members$17 for guests

No matter your field, today's Public Relations and Marketing has seen a drastic change. No longer can we rely on mass media in the form of Newspapers and even traditional Television to send our messages. Strategic communicator and Public Relations Society member Melissa Wilson will expose you to upcoming trends and emerging technologies and better position yourself in today's evolving marketplace. Join us to:

• Identify Top Social Networking Sites
• Share local demographics and usage
• Create a plan to move yourself to the desired locations

About Melissa Wilson
Melissa Wilson, owner of Wilson Monnig Creative, provides strategic communication counsel, implementation, and reporting. Since beginning the company, Melissa has worked closely with international and local clients to spend effectively, and focus on reaching their target markets. Prior to founding her consultancy in 2007, Melissa held communications positions for a national funeral home business and international non-profit organization. Melissa is a Public Relations and Advertising graduate of Stephens College and continued her education earning a Master of Arts at Lindenwood University in the study of Communications. She is active in PRSA, selected as a judge for The Stevies Award for Women in Business, and recipient of design awards including the Davies, The Communicator, and Hermes.

About Wilson Monnig Creative
Wilson Monnig Creative, located in St. Peters - St. Charles, Missouri, is an innovative marketing, public relations, advertising, web and print design company. Award-winning talent provides cutting edge services in traditional and new media. Our client's come from a broad spectrum of industries including real estate, agriculture, automotive, folk artists, personal fitness, and entrepreneurial start-ups.www.WilsonMonnig.com

Is Country Living Right For You?

For decades homeowners have been lured by big city lights, leaving small towns and rural areas for a more urban experience. The tide may be turning again, and if you are interested in country living, the United States Department of Agriculture (USDA) has a deal for you. The terms are extraordinary–no down payment, 100% financing and very low interest rates.

To revitalize rural areas, the USDA started the Rural Development program in 1991. Since then the program has grown to helping 265,000 homeowners and guaranteeing more than $24 billion in loans.

Considering the difficulties in the current housing/lending market, this program has become a very popular method to purchase a house and make a contribution to small town communities.

While the program is aimed at rural development, those areas can be quite close to urban centers. For instance, properties in some parts of St. Charles County and Jefferson County are eligible for this program. Also look to Warren and Lincoln Counties and many other counties from the eastern to western Missouri borders, excluding large urban areas.

Here are the details:

• Properties must be located in a rural community with less than 20,000 population, or in open country not closely associated with an urban area.
• There is no down payment.
• The property is financed for 100% through traditional, qualified lenders, and the loan is guaranteed by the UDSA program. There is also the possibility of adding closing costs to the loan.
• Mortgages are issued for a 30-year fixed rate with low interest rates.
• The program requires moderate income levels with a credit history that shows a reasonable willingness to meet the loan obligations.

These days potential buyers are challenged to think creatively if they want to own a home. Going outside the normal process can bring a homeowner to a new lifestyle, a sense of pride in home ownership and the satisfaction of succeeding despite the odds.

During the past year, more than 3,000 Missouri households have turned to the USDA Rural Development program, to the tune of $277 million in guaranteed loans. (St. Louis Post-Dispatch 2-22-09) How about you? Explore the possibilities and find out if country living is in your future.

3515 Whitby, High Ridge MO

3515 Whitby
High Ridge, MO 63049

There has never been a better time to buy in desirable Stonehenge Subdivision than NOW. IF you want to experience the PEACE and tranquility of country living but still be minutes from highways, shopping and entertainment then this is a perfect location for you. Tucked away on a 1.5 acre lot that backs to trees you'll enjoy the sights and sounds of wildlife. This sprawling ranch with over 2,500 feet on the main level (and additional finished walk out lower level with 1/2 bath and fireplace)is immaculate inside and out. Vaulted Great room, 3 custom fireplaces, hardwood, coffered ceiling, sun room, bay bow windows, 3 car side entry garage, full brick front, courtyard and custom decorative windows are a few of the many features this home offers. Don't wait spend your summer here in your new home!

Bedrooms:	4	Bathrooms:	4
Square Foot:	2,593	Garage:	3
Lot Size:	1 (0.00 acres)	County:	Jefferson
Property Type:	Single Family Detached	Year Built:	1995
MLS Number:	90011169

Visit 3515 Whitby, High Ridge MO to learn more