Archive for the ‘Uncategorized’ Category

Living in the Country

Thursday, November 4th, 2010

Exceptional homes in a country setting are really quite rare. We now have a listing that is such a home. This home was built in the early 1900′s and has since be remodeled into a luxury home with the following: A newer finished basement. Great eat in kitchen, custom built cabinets, laundry and family room on main floor, 5 bedrooms, 3 baths, 2 car attached plus large outbuilding (with concrete floor) and large barn. Trees and nice views. Appliances are optional. Has inground pool–great for entertainment with patio, privacy fence and deck. Great property for hobby farmer, auto mechanic, wood working, horseman/horsewoman.

Explore the quite life of country living. See virtual tour at: CLICK HERE

Tuesday, November 2nd, 2010

Newton, KS. Nov 1. 2010
Fall weather is here and real estate sales will soon reflect the seasonal slow down during the Thanksgiving and Christmas Holidays. Today there are 161 homes on the market. Sales in the previous 2 months have been brisk and positive. Sellers and buyers are finding their expectations coming together more easily. There are 31 homes now under contract with closings scheduled mostly before the end of the year. Interest rates continue to be low, thus making it a good time to buy a different or new home. To see all of the homes listed in Newton and the area go to: The Franz Team

New Rules for Newton Home Owners

Wednesday, July 1st, 2009

New Rules for Newton Home Owners

The Newton area real estate market has had some softness for the past six months. Many homeowners have had difficulty selling their homes for the price they want. “There are many things home owners can do to boost the final selling price $5,000 to $8,000 and more above the average sale price,” according to Gary Franz, a real estate specialist based in Newton. “Most home owners feel they’re at the mercy of the market. If the market falls, so does the value of their home. This simply is not true.” According to Franz, there are several easy things home owners can do to substantially boost selling prices. For example, there are many ways home owners can “dress” their home’s exterior so it gives a more appealing first impression. “As people walk up to your front door, they’re getting their first impressions. You want to be sure your lawn, walkway, and home’s exterior looks as good as possible.”

Franz offers a few simple tips to home owners. “If a homeowner

has only half an hour to make their home as appealing as possible, I would suggest the following: 1) turn on all the lights in the home and open all the curtains, 2) take almost everything out of the closets, it makes them look a whole lot bigger, 3) turn off TVs and radios (silence is golden) and 4)set the temperature to a comfortable setting.

Franz says, “With the recently approved new home buyer’s incentive we are seeing the inventory of pre-owned homes increase—do all you can to make your home standout

Kill A Watt! What??

Tuesday, March 10th, 2009

You can do something practical to go GREEN and save money too!!

Often we are not sure how much electrical energy an appliance uses. In
addition, we often plug in a device and notice it has some lights blinking
even when the switch is “OFF”! Science has now given us a machine that
will tell how much energy any device uses-we just plug it into the monitor,
plug the monitor into an ordinary wall socket and wait for an hour or two
and we can then calculate the energy and the cost for using that device.

Our team likes GREEN. We have purchased a “Kill-A-Watt” electricity usage
monitor and we will loan it to you for 48 hours so you can check many or all
of your electrical appliances. The monitor has a large LCD display that
will tell you how much energy each appliance uses. We will also give you an
Electrical Equipment Inventory Schedule for you to record the watts used by
your devices.

Save Money, Save the environment by knowing exactly how much each appliance

Give us a call at 316-772-6605 to schedule our “Kill-A-Watt” monitor for use in your home.
This is free service of The Franz Team.

To see how this works, follow this link:

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.

For more information, visit

Existing-Home Sales Show Strong Gain In December!

Tuesday, January 27th, 2009

RISMEDIA, January 27, 2009-Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors®.

Existing-home sales-including single-family, townhomes, condominiums and co-ops-jumped 6.5% to a seasonally adjusted annual rate of 4.74 million units in December from a downwardly revised pace of 4.45 million units in November, but are 3.5% below the 4.91 million-unit pace in December 2007.

For all of 2008 there were 4,912,000 existing-home sales, which was 13.1% below the 5,652,000 transactions recorded in 2007. This is the lowest volume since 1997 when there were 4,371,000 sales.

Lawrence Yun, NAR chief economist, said home prices continue to fall significantly. “It appears some buyers are taking advantage of much lower home prices,” he said. “The higher monthly sales gain and falling inventory are steps in the right direction, but the market is still far from normal balanced conditions. Buyers will continue to have an edge over sellers for the foreseeable future.”

Total housing inventory at the end of December fell 11.7% to 3.68 million existing homes available for sale, which represents a 9.3-month supply at the current sales pace, down from a 11.2-month supply in November.

Yun said the market is underperforming and hurting the broader economy. “We’ve added 25 million people to our population over the past decade and housing affordability conditions are the best we’ve seen since 1973, but household formation is much lower than expected,” he said. “Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery.”

The national median existing-home price for all housing types was $175,400 in December, which is 15.3% below December 2007 when the median was $207,000. There remains a significant downward distortion in the current median from a large number of distress sales at discounted prices, currently 45% of transactions; the median is where half of the homes sold for more and half sold for less. For all of 2008, the median price was $198,600, down 9.3% from $219,000 in 2007.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said it’s an excellent time for first-time home buyers with good jobs. “The typical buyer plans to stay in their home for 10 years, which is the correct approach in today’s market,” he said. “With historically low mortgage interest rates, flexible sellers, a large inventory, and homes that are selling for less than replacement construction costs in much of the country, buyers who’ve been on the fence should take a closer look at today’s market.”

McMillan added that first-time buyers may want to consider an FHA loan, which offers downpayments of 3.5% on a safe 30-year fixed-rate mortgage.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.29% in December from 6.09% in November; the rate was 6.10% in December 2007. Last week, Freddie Mac reported the 30-year rate was 5.12%.

Single-family home sales rose 7.0% to a seasonally adjusted annual rate of 4.26 million in December from a level of 3.98 million in November, but are 1.4% below a 4.32 million-unit pace in December 2007. For all of 2008, single-family sales fell 11.9% to 4,349,000.

The median existing single-family home price was $174,700 in December, down 14.8% from a year ago. For all of 2008, the single-family median was $197,100, which is 9.5% below 2007.

Existing condominium and co-op sales increased 2.1% to a seasonally adjusted annual rate of 480,000 units in December from 470,000 in November, but are 18.4% below the 588,000-unit level a year ago. For all of 2008, condo sales dropped 21.0% to 563,000 units.

The median existing condo price4 was $181,400 in December, down 18.3% from December 2007. For all of 2008, the median condo price was $210,000, which is 7.2% below 2007.

Regionally, existing-home sales in the Northeast slipped 1.4% to an annual pace of 720,000 in December, and are 14.3% below December 2007. The median price in the Northeast was $235,000, which is 7.8% lower than a year ago.

Existing-home sales in the Midwest increased 4.0% in December to a level of 1.04 million but are 10.3% below a year ago. The median price in the Midwest was $140,800, down 11.4% from December 2007.

In the South, existing-home sales rose 7.4% to an annual pace of 1.74 million in December, but are 11.2% lower than December 2007. The median price in the South was $158,600, which is down 8.0% from a year ago.

Existing-home sales in the West jumped 13.6% to an annual rate of 1.25 million in December and are 31.6% higher than a year ago. The median price in the West was $213,100, down 31.5% from December 2007.

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February Incentive to Buy a Home

Friday, January 23rd, 2009

Just to bring you up to date with what is happening in the real estate market in our area, we have some helpful information as you think about purchasing your home.

Low interest rates …. as low as 4.75% with a buy-down!

Buyer’s market….homes move-in ready!

Great incentives on new Spec Homes in SW Newton for the month of FEBRUARY:

1. A 50″ flat screen TV w/ surround sound package

2. Grass and/or yard landscaping package

3. Washer/Dryer and Refrigerator package

4. Window Coverings package

Some conditions apply–please call for full details.

The Franz Team is always looking our for you and ready to help you with your new home purchase!

Cartoon–”As Is”

Tuesday, December 9th, 2008

More truth than fiction!

2 Trillion in Residential Mortgages Fund by year’s end

Monday, November 10th, 2008

The credit crunch, the credit squeeze, the credit crisis… You’ve seen the headlines. You’ve heard about the government’s $700 billion rescue plan to deal with it. But what does it mean to those looking to secure financing and take advantage of lower home prices? Can someone still get a mortgage in today’s volatile market?
The answer is yes, absolutely! While the credit markets have certainly tightened compared to two years ago, nearly $2 trillion of residential mortgages will have been funded in the US by the end of this year, according to the Mortgage Bankers Association. This means there is plenty of money available to potential borrowers who know how to properly position themselves for success.

To learn more, follow this link:

The UnReal Estate Knowledge Site

Wednesday, September 10th, 2008

The Franz Team, RE/MAX Associates, Newton, Kansas 67114 316.283.1000