Archive for February, 2009

The Red Maple

Thursday, February 5th, 2009

202 Spring Lake CtWe have a great house, move-in-ready for you in Spring Lake, S of Newton. What a great new neighborhood, planned and developed to address the needs of families, mature adults who want to live and enjoy a new home, baby boomers who are ready to design their own home and those who like the quiet area with ammenities such as a playground, splash park, walking trail and golfing.
This particular plan is a split floor plan with the MA suite on one side of the house, living area in the middle and two additional bedrooms and bath on the other side of the house.
The view-out basement is ready to be finished. This house will also appeal to you men, since the three-car garage gives you lots of room to store your big toys, or put in a work shop.
For additional information, call Gary at 316-772-6605.

Thought for the day!

Thursday, February 5th, 2009

“Today is the most important day of your life.” Dr. Forrest C. Shaklee

First-time homebuyer deal!

Thursday, February 5th, 2009

616-n-high.JPGThis 2 BR, 1BA house is a great investment for a first-time homebuyer, or someone who needs a rental or someone who is downsizing.
Ok, so it needs a few things done, but that is part of the fun of making it your own and with a bit of sweat equity you will be proud of your
new home. It even has a one-car attached garage. The best part is that it is accessible to the freeway and when it comes to yardwork, which you
don’t have any time for, no worries. You can get that all done in a short amount of time. So, don’t delay. Call for more information @ 316-215-1964 and talk to Margie.

Pending Home Sales Show Healthy Gain

Wednesday, February 4th, 2009


Pending Home Sales Show Healthy Gain

RISMEDIA, February 4, 2009-Pending home sales increased as more buyers took advantage of improved affordability conditions, according to the National Association of Realtors®. Big gains in the South and Midwest offset modest declines in other regions.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in December, rose 6.3% to 87.7 from an upwardly revised reading of 82.5 in November, and is 2.1% higher than December 2007 when it was 85.9.

Lawrence Yun, NAR chief economist, said the index shows a modest rebound. “The monthly gain in pending home sales, spurred by buyers responding to lower home prices and mortgage interest rates, more than offset an index decline in the previous month,” he said. “The biggest gains were in areas with the biggest improvements in affordability.”

NAR’s Housing Affordability index rose 10.9% in December to 158.8, the highest on record. The HAI shows that the relationship between home prices, mortgage interest rates and family income is the most favorable since tracking began in 1970.

“Significant uncertainty still clouds the housing market despite improved affordability conditions. For a sustainable housing market recovery and, hence, sustainable economic recovery, we need a significant housing stimulus and mortgage availability for qualified borrowers,” Yun added.

The PHSI in the Northeast slipped 1.7% to 62.1 in December and is 14.5% below a year ago. In the Midwest the index jumped 12.8% to 83.7 but remains 1.2% below December 2007. The index in the South surged 13.0% to 96.8 in December and is 1.6% above a year ago. In the West, the index fell 3.7% to 97.5 but remains 17.5% higher than December 2007.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said the rise in contract signings is encouraging. “However, housing activity remains weak compared with potential demand, and the market is fragile given the economic backdrop,” he said.

“We can’t take our eye off the need to stimulate housing, which can set the foundation for an economic recovery,” McMillan said. “Last week’s actions in the House to eliminate the repayment feature on the first-time home buyer tax credit, and to raise mortgage loan limits, are helpful. However, we need to take additional steps to meaningfully draw down inventory and stabilize home prices.”

McMillan said some enhancements that could bring more buyers into the market include expanding the $7,500 tax credit to all home buyers and extending it until the end of 2009, and making loan limit increases permanent. “We also need to direct funds in the Troubled Asset Relief Program to add liquidity to the mortgage market, buy down mortgage interest rates and increase other forms of credit,” he said.

Yun said the outlook for housing and the economy is murky. “Although Congress and the Obama administration are taking steps to help the economy, the stimulus package must deal with the root cause of the economic downturn, and apply the right fix to turn it around. If housing is ignored, a significant downward overshooting of home prices would continue to drag the economy down independent of the scale of the stimulus,” Yun said.

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