Blog
The Home Buyer's Credit
I'm not sure what's driving the spring rush this year. I would guess it's the $8000 home buyer's credit?? But, I will tell you--that it's been just as busy as can be around here lately.
I'm a little afraid of what's to come when the home buyer's credits end. Uh oh. It's been awfully good for too long with both 5% interest rates AND the government giving you money to move!
It's not so bad
I've noticed one thing in this market--that houses that are priced right still sell in a reasonable amount of time. Now "reasonable" becomes redifined depending on your price range. A reasonable amount of time for a home, priced right, under $200,000 can be expected to sell in 90 days or less. A home, priced right, over $300,000 and priced right will take about 6 months. Here's the deal: those timeframes aren't really off that much of what we're used to seeing in those brackets. The problem is seller's aren't being realistic about pricing. Once upon a time you could afford to "try it" at a higher price. Those days are gone. Buyers are telling me they want a deal and with dozens and dozens of houses to choose from in every price bracket/area of town--it's the deals that sell right now.
Weather or the Economy?
I am going to make a bold statement and say that I actually think that the weather is contributing more to our current market conditions than the state of the economy is.
Several weeks ago we had 30 year rates dip below 6% and at the same brief moment we had an ice storm here in the Kansas City metro. With seemingly constant snowfall buyers don’t feel like looking at homes and when it ices--even I don't like looking at homes!
In the first time buyer price range I still haven't seen the influx of activity I would hope for in light of the low rates. Even the $150,000 price range is not so hot.
However, predictions for the 2nd quarter are promising. We still have low unemployment in our area. While certainly slowed, we still have appreciation in most areas of Johnson County and whe--that's good news.
I'm just betting that all those buyers that have been holed hope during all this winter weather come out in droves when we start hitting the 60 degree mark--so chin up sellers!
Ahhhh....Back to Searching (August 14, 2007)
Technical Difficulties (August 14, 2007)
It's About Time (February 7, 2007)
Personal Experience (December 4, 2006)
Crazy, Crazy Market! (October 4, 2006)
A Limited Time Special Offer! (August 1, 2006)
Birthday Parties (May 3, 2006)
Smartphones (March 17, 2006)
Spring? (March 2, 2006)
Long time no Blog (February 8, 2006)
13 SEER (November 14, 2005)
Still a Buyer's Market (November 1, 2005)
Making the Bed (September 29, 2005)
It's On! (September 23, 2005)
Countdown (September 6, 2005)
Holiday Weekend (September 3, 2005)
Do It Yourself? (August 30, 2005)
Seeing things from the other side (August 26, 2005)
USA Today (August 18, 2005)
BAC Fees? (August 3, 2005)
The "Right" Time? (July 29, 2005)
Family Business (July 19, 2005)
Buyer's Market (July 11, 2005)
Costco (July 9, 2005)
Holiday Weekend (July 2, 2005)
Kemper Arena (June 28, 2005)
Up and running! (June 25, 2005)
The Big Launch (June 24, 2005)