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. 

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.

Local Housing Markets Place 1st and 2nd for 2012

The news from HousingPredictor.com 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.

Rank    City   Forecast    1.    Kansas City, KS      5.8%    2.    Topeka, KS      4.7%    3.    Charleston, WV      4.5%    4.    Oklahoma City, OK      4.3%    5.    Minot, ND      4.2%    6.    Overland Park, KS      4.2%    7.    Wichita, KS      4.1%    8.    Huntington, WV      4.0%    9.    Wheeling, WV      3.9%   10.    Bismarck, ND      3.6%   11.    Casper, WY      3.5%   12.    Lake Charles, LA      3.4%   13.    Rapid City, SD      3.2%   14.    El Paso, TX      3.2%   15.    Cheyenne, WY      3.2%   16.    Nashua, NH      3.1%   17.    Monroe, LA      3.1%   18.    Buffalo, NY      3.1%   19.    Houma, LA      3.0%   20.    Bellevue, NB      2.9%   21.    Rochester, NY      2.9%   22.    Concord, NH      2.8%   23.    Omaha, NB      2.8%   24.    Gillette, WY      2.7%   25.    Syracuse, NY      2.5%

 

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.

http://www.housingpredictor.com/2012/best-markets.html

http://www.housingpredictor.com/2012/kansas.html

Good Start for the Spring Market!

Couple the positive pending sales news with the increase in buyer inquiries that I've received the past few days and I see an early start to the 2012 spring housing market. Today the news coming from all the major news sources is encouraging. Great news for all those buyers looking to purchase one of the many Lawrence KS Homes for Sale currently on the market.

The National Association of Realtors reports that existing home sales rose in November and remain higher than this time one year ago. According to the Chief Economist for NAR, Lawrence Yun, the increase seems to be due, in large part, to home buyers finally taking advantage of an obvious "buyers market" going on across the country. With record low interest rates and extremely good deals on many of the homes for sale, one wonders why a buyer would not want to take advantage now before the trends begin to change. Increasing home values would certainly be a more favorable climate for the sellers.

I can speak to local sales data that pertains to Homes for Sale Lawrence KS. It too shows that sales are on the uptick. This is welcome news for all the sellers who've been waiting for the market to start the recovery. If you're a seller looking to list a Homes for Sale in Lawrence KS it may be time to seriously consider contacting a Realtor.

Most Realtors will give you a complete picture of the local market and what the market value of your home is relative to the your market. This is a free service that you should take advantage of. Once you've compared the reports, then you can begin the process of choosing the Realtor with the best and most comprehensive marketing plan for your Lawrence KS Home for Sale.

Also, please make sure that you only hire a real estate agent who is a "Realtor". Lawrence KS Real Estate Agents are not all the same. It's one thing to get a basic real estate license, but it is quite another thing to build on that basic foundation and understanding of the real estate industry.  Therefore, you'll do yourself an enormous service if the Realtor you hire has taking the time, invested the money and put forth the effort to earn the following designations: Accredited Buyer Representative (ABR), Certified Residential Specialist (CRS) and Graduate of Realtor Institute (GRI).

Reflecting on America's Blessings on Thanksgiving

Many of us seem to forget how very blessed we are here in America. Even our President referred to us as being "lucky" in his Thanksgiving address this year. I'm sorry, but I disagree with that assessment of America and the American people. I do not believe that "luck" has anything to do with our prosperity and our greatness. I tend to believe in the facts about our nation and one of those facts is that we are a "Christian Nation".

We are indeed a "blessed" nation. Furthermore, those blessing have all come from God. The fact is that our country was founded on Christian principles. There have been many in the progressive camps for over 100 years who have worked tirelessly to distort the truth about our nation and our nations founders. However, the truth is there if you care to look and the truth has no agenda.  

I know, I know, not all Americans are Christian and many have no religious beliefs at all.  I'm fully aware of the diverse nature of this country and appreciate that these differences in people are part of what makes this country the greatest country in the world. Simply being able to worship in anyway you chose or being free to not believe is again a testament to the freedom that so many Americans have fought and died to retain.

In so far as my personal life goes, I feel blessed every morning when I awake. As a real estate agent in Lawrence, KS, I've been directly affected by the housing market crash and have experienced a decline in income. That does not mean that I'm not blessed beyond measure. Sure I may have to work a little harder to sell the Lawrence Ks Homes for Sale I have currently listed and my clients may be stretching their patience muscles more. I've still helped many sellers achieve success this year and have assisted many buyers in finding just the right Homes for Sale in Lawrence KS.

Now perhaps many people will claim that much of my real estate success is simply a matter of luck. Here again, I would disagree. I believe everything good that happens to me is God blessing me. I love the Thanksgiving holiday. It reminds me to be thankful for my blessings now and all year long. May God continue to bless America!

A Veteran’s Day Tribute to Home

Click on the link below to read this article.

A Veteran’s Day Tribute to Home

I really enjoyed this article and wanted to share it with you. It's not often enough that we celebrate the profound sacrifices our men and women of the armed forces have made and continue to make everyday for us. God bless them and their families.

Let's all try to keep them in our thoughts and prayers everyday and please take the time to tell them "thank you" if you see a soldier in a bank, a coffee shop, a grocery store or even at an open house of one of the many Lawrence KS Homes for sale.

Still Good Time to Buy a Home

NAR Chief Economist

According to Lawrence Yun, the Chief Economist for the National Association of Realtors,
now is still a fantastic time for home buyers to buy Lawrence KS Homes. If you can get approved for a loan now at a decent rate, you are well advised to buy a home. Make your move now before the lending requirements become tougher and the interest rates go higher.

The current economic mess can be blamed on our government. As long as the FED continues to manipulate the monetary system things will continue to worsen. Homes sales will remain sluggish in the Lawrence KS real estate for sale market and markets all across the country. There are many reasons why American homes and Lawrence KS homes for sale continue to see more and more days on market. "A combination of weak consumer confidence and continuing tight lending criteria held back home buyers, even though the private sector added nearly 2 million net jobs in the past 12 months" said Yun in an article on the National Association of Realtors post on October 27, 2011.

Basically, the Federal Reserve's policies and their attempts to help our economy are actually hurting the housing market. Yun says the policies are "contradictory and confusing" to consumers. Until Americans stand up and demand that the Federal Reserve is audited and they are forced to stop printing and / or digitizing money, we are likely to see the problems in the housing market continue. Go to Realtor.org for the complete story and to watch a very informative video on the current housing market conditions across the country.