National Housing Reports

We've just received the National Housing Reports from RE/MAX National for July, 2012. While this information is usually more applicable to sellers, we still like our buyers to know about the recent changes in our real estate market.


For more information, visit us on the web at springfieldfirsthome.com, or simply call or text us at 417.872.9222.


(For more detailed/downloadable pictures of the report, visit our Facebook page, which is under the same name as this blog.)

Bragging Rights

Today’s entry is just us bragging. On Google Reader today we found this article for first time homebuyers encouraging them to ask their realtor five things before buying their first house, and we are proud to announce that we have covered all but one thing- whether to find out whether the place is considered sacred by Native Americans.

I guess we can talk about that one tomorrow.

For more information, visit us on the web at springfieldfirsthome.com, or simply call or text us at 417.872.9222.

Google article: http://atlanta.cbslocal.com/2012/07/18/5-questions-to-ask-your-realtor-before-buying-your-first-home/

207 West Center- Best of Both Worlds

When you list your home or put it on the market, one of the first things you do is write a tagline or headline for a website or the advertising for that new listing. When we listed the house on 207 West Center in Rogersvile, Missouri, the tagline was "The Best of Both Worlds". This defines two different aspects of the house, being built a while back but having been modified to include modern technologies found in new construction today.


First, let's talk about the house itself. Built in 1905, this house has had extensive updates, especially in the kitchen and bathrooms. So, the house has all of the character of having been built  in 1905, with the beauty and comfort of a home built more recently, which beats the cookie-cutter qualities of new construction homes. Three bedrooms and one and a half baths, about 1400 square feet, and a huge (2/3 of an acre) lot, this house truly is the best of both worlds. 


The other way that this house exhibits the best of both worlds is the fact that it's located in Rogersville, Center is the old highway going through the middle of Rogersville. This house, with it's large front porch and its small town feel, allows you to enjoy days going by and days gone past, sitting out front with seeing neighbors go by and getting the chance to wave and exchange pleasantries. However, as you know, Rogersville is only 9 miles away from the eastern part of Springfield, so it's a very quick commute down highway 60 to some of the major retail and employment areas of Springfield, making it a quick and easy way to reach some of the major areas of city life, as well. Finally, the home is only priced at $80,000, which is a big deal. You've got a hose that's bigger than most new construction these days for a lesser price! 


For more information, visit us on the web at www.springfieldfirsthome.com, or simply call or text us at 417.872.9222.


House website: http://www.jkester.remax-midstates.com/remaxmidstates/index.asp?p=findahome.asp&selected=mls&listing=true&mlsnumber=1209428&mlsid=556&acc=93983

Buy to Sell

There is one more thing to consider when buying a house- what you want to be the first time seller of when the time comes. Buying a home is an emotional thing, and we're looking for a house that suits our wants and our needs. Most of the time, we end up buying a house that "speaks" to us, one that causes us to make that emotional buying decision. The house that makes you say "this is going to be my home". 


The problem is that some buyers make an emotional decision, which by itself isn't necessarily bad, but without any thought to the fact that they are making the single largest investment of their lives so far. In order for that investment to be a good one, it has to pay off in the end. 


So, bottom line is, if you want to make a good emotional decision with reason attached to it, put into your decision-making 'mix' a question. Will I be able to sell this house whenever the time comes to sell it, for at least the amount of money that I bought it for, and is it the kind of house that other buyers are going to want? 


In other words, buy what you'll be happy to sell. 


For more information, visit us on the web at www.springfieldfirsthome.com, or simply call or text us at 417.872.9222.

Challenges for the Good

We ran a story today about the shortage of first time buyers this year, due to challenges that many buyers are facing because of the market. The story begins with talking about how many buyers aren't qualifying for a good mortgage or loans due to credit standings. It also tells about the troubles buyers are facing because of a lack of inventory in the market. Less houses create more competition between buyers, and then therefore higher prices. 


We don't doubt that these challenges exist in the marketplace right now, in fact we've pointed out numerous times that the buyer's market of the last few years is coming to an end, and we've also talked about price changes and low inventories. 


All of this having been said, not all of these challenges are bad things. First of all, higher loan standards may prevent some buyers from making the same mistakes some buyers made back in the past when standards were lower. There were many buyers in 2005 or 2006 that regret the choice because they bought the house with a loan they got too easily, and were not able to pay back all of the interest. With higher credit standards, it means that when you're qualified to buy a home, you're really and truly qualified to buy a home, and preventing mistakes that other buyers have encountered before is definitely a benefit. Also, the lower inventory of houses currently on the market means a healthier real estate market, and if reporters had dug deeper, they'd have known that most buyers are only missing out on buying a home because they failed to pre-qualify for their loan.


The bottom line is yes, first time buyers-or really any buyers- those challenges can be seen as good things, and the silver lining is that buyers that can and are ready to begin their search may do so in a healthier real estate market than there's been in years. 


For more information, visit us on the web at www.springfieldhomebuyers.com, or simply call or text us at 417.872.9222.

Rogersville: A Quiet Missouri Town Turned Suburban

Today we experienced a great example of how a very small town can develop into a significant suburb. This afternoon, we visited Rogersville. If you're a native of the Springfield area, you might recall the first time you ever visited the small town of Rogersville. If that time was anywhere prior to 2000, you'll remember it as the quaint, quiet, railroad town east of Springfield that more or less functioned as the last stop on the railroad before arriving in the queen city. And if you haven't been to Rogersville since then, you'd be amazed at the changes the town has gone through. 


According to the 2000 census, there were about 1500 people living in Rogersville at that time. That number alone may be more than anyone expected, but imagine the vast change in the recent years, population jumping to double that number in ten years, and that is nothing compared to the estimated 4.5% growth expected to take place by 2014. 


You'd also be surprised, if visiting for the first time in a long time, that there's a lot more on Highway 60 than there used to be. Many fast-food chains and other sorts of stores have popped up everywhere, turning Rogersville and the surrounding area into a bigger deal than it ever was conceived as being before. 


None of this compares to the amount of growth in the housing area/subdivisions. There are still the quaint little old houses that have been there since the dinosaurs roamed the earth, but there are also quite a few new developments and housing areas available that weren't there before. These new construction housing areas pop up from within Rogersville and towards Springfield as the city spreads to include more and more area. 


Rogersville has become quite the bustling suburb, firmly connecting with the old parts of the city as well as the new parts spreading towards Springfield, and is not to be overlooked by home buyers that want access to a smaller area as well as the ability to have a nice-sized 'city life'. 


For more information visit us on the web at www.springfieldfirsthome.com or simply call or text us at 417.872.9222.

Housing Inventories

We've mentioned before that the so-called buyer's market from the previous years is coming to an end, and now the numbers are starting to bare that out. Present inventories of homes on the market (that is, the number of houses currently active on the market compared to the monthly sales rate) is hitting a five year low in some areas. Some parts of the Greater Springfield Market are down to four months of inventory, which means that if all the houses on the market sold at the present rate, how long would it take to sell them? Well, the answer there is four months, and this really is happening in some areas. 


While that might seem like a lot of inventory, remember that about six months of inventory is what we call a balanced market. More inventory than that, and you've got a buyer's market. Therefore, less inventory would be referred to as a seller's market. So you can see in various areas of the city, it's a seller's market again.

With low inventories, historically low interest rates, and rising prices, we again urge first time buyers to move now while the market is the way it is. This might be as good as it gets for a long long time. 


For more information, visit us on the web at www.springfieldfirsthome.com, or simply call or text us at 417.8472.9222.