Strong Homes Sales Showing Signs of Continuing

If you've been waiting for the market to pick up for Lawrence KS Homes for Sale.....read the latest from the LBOR.

"Lawrence Board of REALTORS® Releases Home Sales Figures for March 2013

Residential Sales in the city of Lawrence were on the rise for a 12^th consecutive month! 

Home sales rose by 28.8% in March compared to last year’s March figures.  Specifically, there were a total of 76 home sales in March, up from 44 in 2012.   

Among existing homes sold, 70 sales occurred in March, which is a 37.3% increase from 51 existing homes last March.  The average price of existing home sales was $202,191.  This represents a 4.3% increase from the March 2012 average price of $193,926.    

For new construction homes, 6 sales occurred in March, which is a decrease of 25% from 8 new construction sales in March of 2012.  The average price of new construction home sales in March was $374,884.  This represents a 16.1% increase from the March 2012 average price of $322,975. 

Recent housing market activity in the city of Lawrence continues to be on the rise with 123 contracts written in March of 2013, as compared to 98 contracts written in March of 2012, an increase of 25.5% over last year.

Residential housing inventory in the City of Lawrence stood at just 408 homes on the market at the beginning of March, which is down considerably from 578 homes that were on the market at the beginning of March last year." 

According to John Esau, 2013 President of the Lawrence Board of REALTORS®,

"Average days-on-market has dropped significantly, largely aided by recently listed homes that have sold quickly.  Also, our inventory of homes for sale is down more than 25%, so clearly we have worked our way through a lot of homes that had been on the market for some period of time.  We need more new construction homes and resale home listings to satisfy the demand.  It's been a long time since we could say that.  Perhaps the most encouraging data included in this report is that it represents 12 consecutive months in which we have had an increase in home sales versus the previous year."

April Flowers Bring Snow Showers?

Okay...this is getting a little crazy. Could someone message mother nature and tell her it's spring? Homes in Lawrence, Ks were dusted with snow and ice pellets today. The crocus and other April flowers look very pretty covered in the white stuff. However, I'll bet they'd prefer to be basking in the sunshine.
 
The temperature outside our Lawrence, Ks homes has hovered around 35 degrees most of the day. I don't know about you, but I'm looking forward to the warm sunshine and lots more flowers!

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."

            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).