Friday, December 31, 2010

Rising Rates Will Impact Home Affordability

Buyers who have been waiting for that perfect deal on a home are now finding themselves in a more costly predicament.  Record low interest rates over the past few months have made it the best time to buy a home in the fifty years...unfortunately, it doesn't look like they are going to hang around much longer.

Those who “choose to wait until prices come down more” are gambling that interest rates will hold steady or drop. However, the truth is even a 10 percent drop in home prices is nullified by a 1 percent increase in interest rates. The figure below illustrates how this works for a $250,000 home purchase and the relative likelihood of each scenario.

When thinking about which is more likely: an increase in mortgage rates or a further drop in home prices...consider the findings below based on the last ten years of monthly home price and mortgage interest rate data:

1.  A one percent increase in mortgage rates is ten times more likely to happen than a ten percent drop in home prices.

2.  A one percent rate increase more than offsets a ten percent reduction in home prices.

3.  When interest rates fall by one percent, the total interest paid is almost three times more than the interest savings from a ten percent drop in home prices.

4.  The probability of both happening at the same time is ridiculously small, and homeowners would still pay 15 percent more in interest over the life of the loan.

Interest rates have dominated the news in recent months as we’ve shattered record low after record low. Potential home buyers need to understand the positive financial impact low interest rates have on the cost of home ownership and the thousands of dollars that can be saved over the life of a typical mortgage loan.

When you're ready to list your home or if you're looking to buy, feel free to give us a call.  We've helped hundreds of families and we'd love to help you!  Email, text, or give us a call anytime...913.787.1870 or

Tuesday, December 28, 2010

Home Seller Tips: Staging

Studies have shown that it takes about a twentieth of a second for Web surfers to make a decision about a site (so I may have lost some of you already) and only about seven seconds to make a good first impression in person. Believe it or not, this includes homes too!

Within seconds after entering a home, potential homebuyers are already deciding whether or not they want to buy your home. Your goal is to create an inviting, beautiful, spacious atmosphere that will create that emotional "I want to make an offer" trigger. How do you do that? Simple...through staging.

Check out this short video below to see what staging can mean for your wallet:

Read my previous post for 10 Tips to Staging Your Home.  When you're ready to list your home or if you're needing some help getting it ready, feel free to give us a call.  We've helped hundreds of families prep their homes for the market and we'd love to help you!  Email, text, or give us a call anytime...913.787.1870 or

Monday, December 27, 2010

Great 3 Bedroom Ranch in Overland Park...Only $130,000!!

Perfect 3 Bedroom Ranch only $130,000!!!

Home Size912 sq.ft.Garage1
Lot Size9,202 sq.ft.CommunityMaple Crest
CountyJohnsonProperty TypeSingle Family Detached
Year Built1953MLS Number1704148
Property Description
Here's your next home. Well cared for Overland Park Ranch with a large eat-in Kitchen, big bonus mud room/laundry room, and huge back yard and deck for entertaining or relaxing with family and friends. Just a block from Sante Fe Trails Elementary ... GREAT location. Call us to take a look or find out when the next Open House is.

All measure & sqft are approx.

Call 24hrs to 913/787-1870 for more details on this or any other property in the area.  Schedule your showing today!
Visit for more info and helpful FREE BUYER INFO.

Saturday, December 25, 2010

Happy Holidays!

During this holiday season, our thoughts turn gratefully to those who have made our success possible.  As Real Estate Consultants, there is no greater pleasure for my wife and I than helping our clients achieve their Real Estate dreams...whether it's selling their home so they can move closer to family or buying a new home to make room for baby #2.  It is in this spirit we say...

Thank you!  Best wishes for the holidays and a Happy New Year!!