Interest Rates Still Near All Time Lows

Today the 30 year fixed mortgage rate is at 3.47% and the 15 year fixed mortgage rate is 2.71%.  These rates are only slightly higher than the all time lows, so now is a great time for home affordability.  While rates may tick down slightly in the next few months, historical evidence suggests they will eventually head much higher.  If you are in the market for a home, now is a great time to purchase.  Give me a call at (417) 337-1627 — I’d love to help.

Interest Rates Hit 6 Month Highs

Rates on fixed rate 30 year mortgages rose for the fourth straight week, hitting 4.61 today.  That’s up from the 4.17 percent record lows of just a month ago.  While I won’t go into a long diatribe about why rates are climbing, I will voice my opinion that if you are looking to buy a home and will need a mortgage it would behoove you to take action as quickly as possible.

Branson Market Improving As Interest Rates Drop

Just a quick market note…

I have been seeing more activity in the $200,000 – $350,000 range as buyers seemingly reach for more house as affordability improves. A year ago there was very little action in this price range, but since interest rates hit all time lows just weeks ago, buyers are making the decision to lock in lower rates for the next 30 years. If you are in the market for a new home and will be needing a mortgage, it might be a great time to pull the trigger. From my vantage point, rates could drop slightly lower but it is more probable that we are very near the bottom of the range going forward.

Additionally, if you are a seller it might make sense list your home sooner rather than later as affordability will fall if interest rates do go back up, allowing buyers to pay less as more of their monthly payment would go to servicing interest instead of principle.

In either case give me a call at (417) 337 – 1627 with all of your Branson Missouri Real Estate questions or needs.

Affordable Homes in Branson, Missouri In Short Supply

In the past few months I have written a handful of posts about the lack of affordable homes for sale in the Branson, Mo area. Today’s post will be no different, as it is one of the most significant trends in the real estate market today. First time home buyers and buyers relocating to Branson have been scooping up this inventory at a ravenous pace, especially in a few choice subdivisions for this price range: Savannah Place off Bee Creek Road, Highlands of Branson on T Highway, Country Club Heights on East 76, and Emory Creek Ranch Estates on 248 north of the Highroad. All of these subdivisions are in the Branson school district and have an average price that makes the mortgage payments similar to a rent payment. This similar monthly payment combined with USDA loans and other programs that don’t necessarily require large down payments has been a boon for home sellers in this price range.

If you are reading this and are serious about purchasing a home in this price range, pick up the phone and give me a call at (417) 337 – 1627. A home is too big of a purchase to be pigeonholed into buying a home in a picked-over market. And one last thing, when you do find a home that you like in this price range, make your best of offer as the competition is too great for this price range to dally around with too many offers and counteroffers.

What do you think of

I’d like to take a minute to ask you, the reader and potential real estate buyer or seller, what you think of my site and the information I provide. Do you find the site helpful and informative, or dull and boring? Is there other information that you’d like to see me write about that I currently haven’t? How is the functionality and look — appealing and useful, ugly and clunky (more…)

9 Tips To Ready Your Home For Sale

When selling a home in a “buyer’s market”, you need your home to stand out. Since Branson is a very competitive market, the following 9 low-cost tips will help your home stand out:

1. Buy a new doormat
2. Put a fresh coating on your driveway (assuming its asphalt)
3. Clean your gutters
4. Edge the grass around your sidewalk and driveway
5. Put new doorknobs on your doors
6. Make sure toys and nicknacks are put away
7. Buy a new mailbox
8. Steam clean carpet
9. Finish honey-do lists that have been put off

If you would like more tips on getting your home ready for sale, give me a call at 417.337.1627 and we can discuss how to get top dollar for your home in a challenging market.

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.