Saturday, February 25, 2012

Focusing on the Light in the Housing Market!

Finally some news that we all can feel positive about. It looks like the housing market for those who have Lawrence KS Homes for Sale and for Real Estate for Sale in Lawrence KS in general, may finally be seeing some signs of light at the end of the long tunnel. According to the Kansas Association of Realtors there's certainly news to feel positive about in the state of Kansas. The home sales were up in Kansas in January 2012.
This might very well be the time to get your home listed if you've been waiting for the right time to add your home to the list of Homes for Sale in Lawrence KS. The buyers are out and are actively looking for the right home. I held a Open House for a Homes for Sale Lawrence KS on February 25, 2012 at 403 Lincoln and had over 45 buyers come through from 1pm to 3:30pm. That's amazing and a very strong showing. That indicates that buyers are getting out early this year looking for their dream homes. Please don't wait too long to list your home. Call me today for a free comparative market analysis on your home. Your Lawrence Home for Sale could be featured on this site.

Read the entire article from the Kansas Association of Realtors below:

"January 2012 Kansas home sales rose by 15.5% percent in January 2012
compared to January of 2011, according to new figures released by the
Kansas Association of REALTORS®. Sales totaled 1,609 units in January,
up from 1,393 units in 2011. In comparison, sales on a national level rose
0.7% for the month.
Across the state there were 16,090 active listings at the end of the
month. Supply of new and existing homes on the market -- which is
determined by taking the number of active listings and dividing it by
the number of sales -- represents 10.0 months.
"We're seeing a really strong start to the new year," said KAR
President, John Brocker with Allen County Realty, Inc., in Iola. "Sales
were up more than 15 percent in January, and it looks like it will be a
very solid spring selling season."
The statewide average sale price last month was $138,180, compared to
$144,552 in January 2011. This represents a decrease of 4.4%. The
statewide median sale price last month was $120,000 compared to $124,000
for the same period last year. According to the National Association of
REALTORS®, the median home price in the Midwest fell 3.9% to $122,000.
The national median existing home price was $154,700 which is 2.0% below
last year. The median price is where half sold for more and half sold for less.
According to Freddie Mac, the national average commitment rate for a
30-year, conventional, fixed-rate mortgage was a record low 3.92 percent
in January, down from 3.96 percent in December; the rate was 4.76
percent in January 2011; recordkeeping began in 1971. For more
than 90 years, the Kansas Association of REALTORS® has been the “Voice
for Real Estate” in Kansas. Working for Kansas property owners, the
Association provides a facility for professional education, research and
information exchange among its 8,000 member licensees, as well as to
consumers, government and the media. REALTORS® agree to abide by a
strict code of ethics, and are held to a high ethical standard by their
peers through their association membership. The term REALTOR® is a
federally-registered trademark owned by the NATIONAL ASSOCIATION OF
REALTORS®, and denotes membership in the non-profit Association."

Thursday, February 2, 2012

            HARP Program Offers Refinance Options!

There's no denying that there are many homeowners out there with "under water mortgages" . Fortunately, there is hope for these people through the HARP program. They can still refinance their loans with a lower cost affordable mortgage by utilizing the Home Affordable Refinance Program (HARP). This program was recently revised and extended until December 31, 2013.  This should be seen as welcome news to many individuals who currently have their Lawrence KS Homes for Sale and are either selling on a "short sale" basis or are facing a foreclosure.

Established in 2009 for Fannie Mae and Freddie Mac-owned mortgages, the HARP program provides this option for homeowners to refinance "under water mortgages." The program addresses situations where the home owner's property value has fallen below the mortgage balance causing the owner to no longer qualify under traditional underwriting criteria. This could be a better option for those thinking about how they can sell their Lawrence KS Homes when they owe more than the market value shows.

New HARP guidelines were recently announced by Fannie Mae and Freddie Mac. Both of these (Government Sponsored Enterprises) GSEs have posted details of the program modifications and procedural changes on their websites. Please contact your preferred lending institution for more information. The guidelines on the websites will assist the lenders with getting your refinance completed correctly.
If we can slow down the number of foreclosed homes hitting the market and then being sold for less than market value, then we will have an increased chance of seeing the home values go up. For those currently marketing Homes for Sale in Lawrence KS area, this would come none to soon. 

Tuesday, January 31, 2012

New Home Sales Stiil Sluggish

The next time you see a home builder, please be careful to show some compassion. These people have been the hardest hit in the housing market crash. In the entire year of 2011 there were only 302,000 new home sales nationwide. That's the current data we in the real estate industry have been given and it's realy sad for buliders. For those of you looking to build Lawrence KS Homes to live in or to those of you wanting to buy brand new Homes for Sale Lawrence KS, you'll find the choices are limited.

The new home sales in the Southern regions of the country were the lowest they've been since 1996. However, it gets worse . Both the East and the West areas of the country saw the absolute worst new home sales in recorded history in 2011. 

Part of the problem for Lawrence home builders and home builders in general, comes from a continuation of foreclosures on the market. This results in deeply discounted homes. I personally assisted buyers in 2011 with purchasing several "foreclosure sales" in 2011. I also helped several buyers with the purchase of Lawrence KS Homes for Sale and Lawrence KS Homes that were being marketed as "short sales". These homes are seen as "bargins" or "deals" by buyers looking to purchase Lawrence Ks Real Estate for Sale.

The threat of further price declines, continues to frighten buyers away from paying premium prices for new homes. Even though, there is evidence that a slight pick-up in home sales will be seen in 2012, buyers are still being cautious.

Tuesday, January 24, 2012

Local Housing Markets Place 1st and 2nd for 2012

The news from is very welcome for those attempting to market their Lawrence KS Homes for Sale. This story tells us that there is hope for the Midwest and specifically the Kansas City and Topeka areas. My hope is that if Kansas City is ranked #1 and Topeka ranked # 2 for the best 2012 housing markets, that Lawrence KS Real Estate for Sale will also feel the positive impact.

   Kansas City, KS
   Topeka, KS
   Charleston, WV
   Oklahoma City, OK
   Minot, ND
   Overland Park, KS
   Wichita, KS
   Huntington, WV
   Wheeling, WV
   Bismarck, ND
   Casper, WY
   Lake Charles, LA
   Rapid City, SD
   El Paso, TX
   Cheyenne, WY
   Nashua, NH
   Monroe, LA
   Buffalo, NY
   Houma, LA
   Bellevue, NB
   Rochester, NY
   Concord, NH
   Omaha, NB
   Gillette, WY
   Syracuse, NY

It appears as though the strong farming influence has much to do with this forecast. Many are claiming that land values and specifically farm land values have been rising in the past few months. That is welcome news. Buyers looking to invest in something that has lasting and intrinsic value should consider making a move before the prices start heading back up. Homes for Sale Lawrence KS can also be purchased with a very low interest loan.

Click on the links below to see the two articles in their entirety. Please give me a call if you have any questions about the current market value of your Lawrence KS Homes or your land.