Affordability Index

Housing affordability condition remains extremely favorable. NAR’s Housing Affordability Index, while declining modestly in June, was still the sixth-highest index on record dating back to 1970. With a 20% down payment and 25% of gross income committed to mortgage principal and interest, a median-income family earning $60,700 could now afford a home costing $289,100 at the current interest rate, well above the median existing-home price of $181,800.

With the housing affordability index at 16%, it is far below the historical standard of 25%.

If you are curious about home prices and activity in your neighborhood, click on MLS Market Snapshot for current, free market information on your neighborhood delivered directly to your email.

Home Sales

Some good news to report!

Sales of existing homes trended upward for the fourth straight month, benefiting from favorable affordability conditions. The $8,000 tax credit continued to draw in first-time buyers, who accounted for 29% of all transactions in May. Repeat buyers, who often sell their current house to first time buyers, are also coming back to the market in large numbers.

Latest data release: June 23, 2009
Source: National Association of Realtors
KW Research

REALTOR® Magazine-Daily News-Buyers, Sellers Rank Real Estate Companies

The 2009 J. D. Powers Study ranked our company, Keller Williams, as #1 in Home Buyer Rankings and a narrow second place of Home Seller Rankings. Check out the article below:

REALTOR® Magazine-Daily News-Buyers, Sellers Rank Real Estate Companies

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How Do I Find The Right House And Make An Offer?

We recommend that you make a wish list of everything you would like to have in a new house. Then make a list of everything you don’t like in your current home. These two lists will give you a good idea of where to start, and help you analyze your needs.

Buying a home requires making some compromises. You may not get everything you want, but make sure to get what you need. For example, when buying a home, the neighborhood should be your main consideration. Is the house in a neighborhood that you like and feel safe? Will you have a reasonable commute to work? Does it have a good school system? (Not only is this important if you have children; it will impact the resale value of your home down the road.) Does the area have the amenities that you’re looking for (parks, stores, and library) within a few miles?

Buying a house is a big financial investment and commitment for many years. Before you make an offer, ask yourself if you can afford the house? Be cautious. If you are buying or selling a home and need competent and caring representation, please call me at 816-373-3800 x4373.

We are getting ready to list our house for sale, but I’m concerned about what to do when the house is being shown?

Plan to take your family (and your pets if possible) away during showings. It can be uncomfortable for you and potential buyers if you’re there, which could result in a “no sale” for you.

Lock-up, or put in a safe-deposit box, any valuables (jewelry, cash, private financial information), while you are away from the house.

Before the house is shown, make sure the home is clean and neat. Open all the blinds and shades, and turn on lights if you have dark rooms or corners. Make sure the kitchen and counters are sparkling clean and all dishes are put away.

Store children’s toys in organized boxes and keep big items like bicycles, wagons, skateboards, basketball hoops put away. Keep the house as clean as possible and remove all clutter. If need be, box up any clutter and store it off-site.

If you are buying or selling a home and need competent and caring representation, please call me at 816-875-1661.

What Does The Second Half of The Year Look Like For Real Estate?

If the first half of the year is a consistent trend, then I believe we will continue to see market improvement in our area. Inventory has been coming down. Unfortunately, so have prices of homes. It is a terrific time to buy and a really good time to sell as well if you prepare properly. We can help you with a strategy that will get your home sold! If you are looking for recent real estate neighborhood information in your area or one that you are watching, visit my website. You can obtain your Market Watch information delivered directly to your email in just minutes. No secret spamming or bugging you. Just information that you can use. You can receive it on a one time basis or ongoing. You decide. One more way we can be your information resource.

Visit www.debbiewhitehomes.com for information you can use right now

Home Values

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