Just One More Comment About The Tax Credit....

The Sellers who took advantage of the tax credit were able to benefit this Spring.  Particularly those whose price range was around $150,000 and under.  What do I mean by that?  Good homes have flown off the shelf at competitive pricing as inventory has dwindled.  Buyers have rushed to meet the tax credit deadline.  The flip side of the Buyer's tax credit is that it was of benefit to Sellers whether they qualified for the credit themselves or not when they purchased their next home (move up or move down).  They have received quicker contracts and higher pricing!  Definitely good news!

There are still 18 more days to put a home under contract.  The deadline to be under contract is April 30th!  If you're on the fence, there is still time to get off!

If you want competent, caring and professional advice.  Give us a call and see if it's the right thing for you.  816-246-7500

Is Our Local Market Favoring Buyers or Sellers?

Who exactly has the edge in our local market?  Buyers or Sellers?

The supply calculation is determined by taking the Inventory (number of homes on the market) and dividing it by the 12 Month Average of the Number of Sales.  A balanced market, in general, is a 5 to 6 months supply of homes on the market.  If the supply exceeds 6 months, the market can favor buyers.  If the supply is less than 6 months the market can favor sellers.  The supply for new and used homes in the Kansas City Region is 6.7 months of supply. This number slightly favors buyers in our area.  As we teter at around 6 months of inventory we are experiencing a more balanced market for buyers and sellers.  That's the good news!

Other market factors will affect our market in the coming months due to the changes in FHA financing and anticipation of rising interest rates later in the year.

Spring is around the corner and regardless of the market, is consistently and historically a GREAT time to list your home and to buy a home.

If you would like information on what your neighborhood sales activity has been or would like personal, caring representation on the purchase of a home, call us at 816-985-3444 or visit our website!

Is There A Silver Lining?

The truth is that there is a Silver Lining in the current market.

Affordability is high. The Housing Affordability Index that measures the ability of a typical American family to qualify for a mortgage based on the median-price for and existing single-family home. A score of 100 indicates that the typical family would have the exact amount required on a 20 percent down payment and monthly payments of no more than 25 percent of their household income. Currently, the index is at 135.2, which means the average American family not only can afford to purchase a home, but will also have excess money for living expenses.

The selection is vast. It continues to be a Buyer's Market. You have more homes in which to choose from.

Owning a home is still one of the Best Long-Term Investments you can make. Historically, homes appreciate, despite short term spikes.

Don't look back wishing you would have purchased real estate when I can show you how!

Source: Buffini and Company