New Fall Creek Extension Finally Completed

Now that the City of Branson has opened the Fall Creek Extension from the Fall Creek Road / 76 junction to the Epps Road / Roark Valley Road, traffic flow in the area seems to be improved. Especially for homes on Fall Creek or down by Pointe Royale, this is exciting news — as they can now get to the north side of town in considerably less time. This should increase the pool of buyers that otherwise would not have been interested in driving the 20 minutes it used to take to get to the north side of town. Chalk it up as a win for Branson, Mo and area homeowners.

New Home Buyer Tax Credit Fueling Area Sales

While I generally like to make posts that include statistics to back up my assertions, I just had to opine that the area is abuzz with buyers looking to purchase their first homes, most of which are under the $135,000 range. In talking with other agents this morning, it is now very clear that this is by far the most active segment of the market. Though this assertion is purely anecdotal, we will get sales reports by the end of the month and I will write a follow up post to document the exact figures.

Fueling these sales are near no-money-down programs being sponsored by the USDA, FHA, and other governmental agencies. Buyers have been getting into homes with as little as 3% down, and have been having sellers cover closing costs (which can even include rolling outstanding credit card balances into the home loan, believe it or not!).

The majority of the buyers are young couples with steady employment that may have been priced out of the market a few years ago, but who now are in a great position as values fall and homes can be bought for under replacement value in some cases (meaning a builder could not construct the home for less than what buyers are buying them for). These deals cannot last forever, as supply and demand are getting much more closely aligned in the area, especially in the low $100,000 range — where there was not a huge run up in prices to begin with.

Already the amount of very desirable homes in this range has been drastically reduced as buyers closed before the old tax-credit deadline of November 30. Now that the first time home buyers tax credit has been extended to late next spring, there should be even more action in this range, which means buyers should take advantage now to get a great home at a good price — as many of the best homes will have been purchased by next spring.

If you would like more information about some of the great deals to be had for first time homebuyers, give me a ring at (417) 337 – 1627.