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Showing posts with label Home Buyer. Show all posts
Showing posts with label Home Buyer. Show all posts

Tuesday, August 27, 2013

Is Now The Right Time To Buy a Home in Kansas City? If you're looking to buy a home in Kansas City there maybe no better time than in September. Why?

Is Now The Right Time To Buy a Home in Kansas City?
If you're looking to buy a home in Kansas City there maybe no better time than in September. Why?

Interest rates are going up -
     Home values are going up
          Zero Down mortgage options are expiring in September in many areas
               Mortgage options are dwindling down fast

Thinking of buying a home in Kansas City?

Let's talk . . .

Contact the Dowell Family Team with your Kansas City real estate needs!



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Visit Gardner Connect - Your Online Source for Gardner Neighborhood News and Real Estate Stats!
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Sunday, August 25, 2013

Did you know that you can still buy a home in some parts of the Kansas City Metro area with zero down - Deadline is approaching! Kansas City Real Estate

Did you knowthat you can still buy a home in some parts of the Kansas City Metro area with zero down - Deadline is approaching!  Kansas City Real Estate

Did you know that you can buy a home in KC with zero down?


Thanks for visiting Online Kansas City!
Feel free to visit the Dowell Family Team on:
Dowell Family Real Estate Team
Johnson County Real Estate
Follow Us on Google+
Follow Us on Facebook
Visit the Keller Williams real estate team, the Dowell Family Kansas City Real Estate Team, for your Gardner  KS. real estate needs
Find your Kansas City home now!      Find out the value of your  Kansas City home    Searching for the perfect  Kansas City  home,  Kansas City homes
Visit Gardner Connect - Your Online Source for Gardner Neighborhood News and Real Estate Stats!
Visit Olathe Connect - Your Online Source for Olathe Neighborhood News and Real Estate Stats!

Thinking about relocating to Gardner, Kansas and buying a home? Gardner, KS. Real Estate

Thinking about relocating to Gardner, Kansas and buying a home?

Contact the Dowell Family Team for your Gardner, KS. real estate needs!

Thanks for visiting Online Kansas City!
Feel free to visit the Dowell Family Team on:
Dowell Family Real Estate Team
Johnson County Real Estate
Follow Us on Google+
Follow Us on Facebook
Visit the Keller Williams real estate team, the Dowell Family Kansas City Real Estate Team, for your Gardner  KS. real estate needs
Find your Kansas City home now!      Find out the value of your  Kansas City home    Searching for the perfect  Kansas City  home,  Kansas City homes
Visit Gardner Connect - Your Online Source for Gardner Neighborhood News and Real Estate Stats!
Visit Olathe Connect - Your Online Source for Olathe Neighborhood News and Real Estate Stats!

Saturday, June 8, 2013

Keller Williams released this awesome report on why now is a great time to buy a home. It is a smart buyer's guide to seizing the real estate market. If you are thinking of buying a home in Kansas City, Let's talk . . .

Keller Williams released this awesome report on why now is a great time to buy a home. It is a smart buyer's guide to seizing the real estate market.

If you are thinking of buying a home in Kansas City, Let's talk . . .

Dowell Family Team  (913) 712-9313

Thanks for visiting Online Kansas City!
Feel free to visit the Dowell Family Team on:
Dowell Family Real Estate Team
Johnson County Real Estate
Follow Us on Google+
Follow Us on Facebook
Visit the Keller Williams real estate team, the Dowell Family Kansas City Real Estate Team, for your Gardner  KS. real estate needs
Find your Kansas City home now!      Find out the value of your  Kansas City home    Searching for the perfect  Kansas City  home,  Kansas City homes

Monday, March 11, 2013

The real estate market has changed in Kansas City. Before you make an offer review a market analysis.

The real estate market has changed in Kansas City. Before you make an offer review a market analysis. 

We're finding that homes priced well are selling above list price. The days of making low ball offers is gone for now.


RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?  



Contact us at 913.712.9204


Another blog post written by: Dowell Taggart Team

Wednesday, January 9, 2013

The Ten Most Common Mistakes to Avoid When Obtaining a Home Mortgage in Kansas City, Olathe, and Overland Park!


The Ten Most Common Mistakes to Avoid When Obtaining a Home Mortgage in Kansas City, Olathe, and Overland Park!


You are about to make what will most likely be the largest transaction of your life: your home mortgage. Unfortunately, many Kansas City home buyers do not take the time to research their mortgage options. Researching the mortgage options takes little time compared to thousands of dollars wasted with the wrong mortgage. Don't you agree?

Doesn't it make sense to become as completely informed home buyer before you buy your next home?  

1.             Start with Finding a Good Mortgage Lender - This is the most important choice you can make when starting the mortgage process. If you don't trust your lender, you are in for a long and stressful home-buying experience. Click to View Our List of Mortgage Lenders.

2.             Pricing - Don't get sucked into fictitious low promises by unscrupulous mortgage companies. Before you agree to mortgage promises, get the advertised rate in writing. Make sure there is enough time to close on your mortgage loan. Some mortgage companies may make these "promises" but will try changing the rate prior to closing. They may claim that your "lock-in" rate has expired so make sure you have the expiration date in writing. In some cases, the lender may even try to delay your closing to break the "lock-in" rate. In other cases the delay may be beyond the lender's control. Make sure to allow yourself plenty of time for closing. Delays in the process are common and everyone (builders, title companies, even yourself) is responsible.

3.             Mortgage Programs - You will see several mortgage programs that offer special low-interest rates. Keep in mind that they may not be the best program for your situation. Make your mortgage lender explain what programs they feel best serve your needs and more importantly, why.

4.             Fixed or Adjustable Rate Mortgage (ARM) - Conventional thinking is that fixed is always better and while this is sometimes true, it is not always the case. The key here is to ask, "How long am I going to live at this home?" An ARM can actually be a better choice if you are going to be in the home for a short time. ARMS are great for Relocation home buyers. In general, the longer you plan on staying in your home, the better a fixed rate mortgage will suit your needs.

5.             Don't try to bottom out the market - Deciding when to lock in to a mortgage rate can be difficult. Many people will float, trying to guess when rates have hit bottom. Unfortunately, a lot of times they will wait too long and end up with a much higher interest rate. There is nothing wrong with floating but keep a close eye on economic indicators. A good mortgage officer or keeping and ear out for the nightly news can be an excellent source of information on the latest interest rate activity. As closing nears, it might be worth locking in.

6.             Negotiate problems prior to closing - Its common for a problem to arise before closing on your home. Waiting until closing will rarely be in your best interest. For instance, if you accept $400 at closing in lieu of the seller making a repair and after closing you find that the repair will actually cost $800, you've obviously made a poor decision. Whether the builder agreed to add an item and has not or the seller has made a repair that is not acceptable to you, discussing a solution prior to closing will give both parties time to analyze and determine options. Be proactive in getting repairs completed. Don't waste until the last second and negotiate poorly.

7.             Be prepared for closing costs - In addition to the down payment, you will be required to pay fees and other closing costs at the time of the final transaction. Closing costs typically range from 2 percent to 6 percent but will be dependent upon your mortgage. Lenders must provide you with a "Good Faith Estimate" within 3 days of your loan application. The "Good Faith Estimate" will breakdown all costs so that you may know what to expect at closing. Be prepared to view your "Good Faith Estimate" before closing.

8.             Close at the end of the month - When making a mortgage payment, you will be paying interest that has accrued from the previous month. Upon closing however, your lender will charge you prepaid interest for the date the loan is recorded through the end of that month. Therefore, one way to lower your closing costs is to close in the latter part of the month. This will lower the amount of prepaid interest that you must pay at closing.  

9.             Look out for hidden fees - Check for certain miscellaneous fees such as inspection, notary, and document preparation. These types of fees can mean hundreds of dollars in closing costs. Remember that this is your money at stake. Never should you be afraid to ask for explanations of fees you are being charged.

10.           Communication - Make sure that your real estate agent, closer and mortgage officer are communicating well. It is important that your real estate agent communicates added cost like inspections to the loan officer and closer promptly so that you are not hit with any surprises when it gets close to closing.



RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?  



Contact us at 913.712.9204


Another blog post written by: Dowell Taggart Team

Wednesday, May 30, 2012

The National Real Estate Market Has Shifted . . .


The  National Real Estate Market Has Shifted . . . 

The real estate inventory has shifted and the days of buyers being able to take their time and look at several homes is ending. Real estate housing inventory levels has been decreasing, signaling a possible turn in the real estate market. Unique properties, well priced properties and move-in condition properties are seeing a bidding war among buyers due to the decreased real estate inventory.

A recent Wall Street Journal report highlighted a couple looking for a home in Palo Alto, California, who realized the difficulty of bidding in today's market. The news source reports that the couple bid whopping $1.1 million. The couple were surprised to learn that there were 10 offers on the home and that they were outbid by a couple thousand dollars. The low inventory has created a frenzy like 15 years ago.

In today's environment, this is occurring more often. According to the RE/MAX's monthly National Housing Report, inventory of homes for sale fell 3.7% in April. This report also noted that the statistic was also 25.6% lower than April 2011. Further, the RE/MAX monthly report stated that the  month-to-month inventory has now fallen for 22 consecutive months. 

Thinking about selling?  . . .  Maybe this is the time. The moons are aligning.

According to RE/MAX, the change in inventory brings the monthly supply to 5.3, lower than the 6-month mark which signals a balanced market. The real estate market has shifted from a strong buyer's market to a soft seller's market. With more decreasing real estate inventory and the market could shift to a strong seller's market.





RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Another blog post written by:
Kansas City real estate, kansas city home, kansas city, dowell taggart, dowell taggart team

Comments are appreciated! Go ahead and add your 2 cents . . .
Ask a Kansas City real estate question

Tuesday, May 29, 2012

I would like to purchase a home in Olathe. I have been on my job for 15 years and make $48,000 a year. I have been renting the past 20 years. My rent is $1100 a month. I have two kids, both are boys. My credit is not great, but it is also not poor. I am looking to buy a home this year, if possible. Where do I start the home buying process? Olathe Real Estate

Question: I would like to purchase a home in Olathe. I have been on my job for 15 years and make $48,000 a year. I have been renting the past 20 years. My rent is $1100 a month. I have two kids, both are boys. My credit is not great, but it is also not poor. I am looking to buy a home this year, if possible. Where do I start the home buying process?
Jackie B. from Olathe, Kansas


Answer: Great question, Jackie. I would start with contacting a loan officer who specializes with first time home buyers. They will pull a credit report and make some great recommendations. In addition, a loan officer  who specializes with first time home buyers will have a few programs to help with your down payment, if that is a problem. 


If you don't know who to contact in Olathe, I would recommend, Ronnie Yarbrough from the Bank of Kansas City. Ronnie has some great loan programs for first time home buyers and has worked with many Olathe first time home buyers. 


Ronnie can be reached at 913-579-4939. Here is Ronnie's website - Bank of Kansas City.




RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Another blog post written by:
Kansas City real estate, kansas city home, kansas city, dowell taggart, dowell taggart team

Comments are appreciated! Go ahead and add your 2 cents . . .
Ask a Kansas City real estate question

Tuesday, May 22, 2012

Going FSBO in Kansas City . . . Does it make sense?

Going FSBO in Kansas City . . . Does it make sense?


Why do most FSBO's in Kansas City decide to sell FSBO? To save the commission.


Why do home buyers in Kansas City who buy a FSBO, decide to buy FSBO? To save the commission.


How can the FSBO and the FSBO buyer both decide to save the some money. Simply, they can't.


So it makes sense about the real estate information that Homegain.com just released from the months of research they just finished, that both the FSBO home seller and buyer can't save the some money and that nearly 90% of the real estate lawsuits in the USA involved no real estate agent in the transactions.


Makes sense to me. I spoke to two title company closers this morning about the information released and was surprised about their take of the information. One closer said that she will never close a FSBO real estate transaction with the buyer not being represented by a real estate agent. The other title company closer said that her title company charges FSBO's and unrepresented buyers a higher closing fee.


Both title company closers mentioned that disputes over interpretation of wording on the real estate contract come up when the settlement statement gets released.


Another problem, according to the title company closers, is known issues around the home do not get disclosed to the buyer. If the buyer and seller can't work out a remedy, the closers said that the buyers and sellers try to draw them in.


Both title company closers were not surprised that nearly 90% of the FSBO sellers and unrepresented buyers end up into a legal dispute. 


If you're thinking about either selling FSBO in Kansas City, I would suggest having an attorney draw up the real estate contract and disclosing all know material defects about your home.


If you're thinking about buying a Kansas City home without a real estate agent, I would suggest having an attorney review the real estate contact and having a seller's disclosure be an integral part of the real estate contract.


Need help or suggestions on how to stay out of a legal dispute? Contact the Dowell Taggart Team.




RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Another blog post written by:
Kansas City real estate, kansas city home, kansas city, dowell taggart, dowell taggart team

Comments are appreciated! Go ahead and add your 2 cents . . .
Ask a Kansas City real estate question

Thursday, May 10, 2012

Overland Park Short Sale is Taking Over 9 Months. Why? Overland Park, Kansas Real Estate

Question: My husband and I put a offer on a "Short Sale" home in Overland Park, Kansas 9 months ago and we have heard very little from the seller's lender. With all of the changes in short sales and supposedly banks are to respond within 60 days, how is that possible? Why is taking that long? Sometimes I think our Realtor is not really helping us. What should we do? Walk away and try to find another house in Overland Park or Olathe or stick it out? How much longer do you think it will take?
Janet S. from Overland Park, Kansas


Answer: Sorry to hear about your frustration about buying a short sale in Overland Park, Kansas. First, the REALTORS are communicating probably with the mortgage servicer, not the mortgage lender. Why does this matter? It takes 30-90 days for the mortgage servicer to complete a short sale package and send it to the mortgage lender. If the seller takes longer to provide docs, the BPO (Broker Price Opinion by a Broker) and the appraisal take longer the package takes longer to prepare for the mortgage lender.


Next, once the mortgage lender receives the short sale package, the negotiator does their research. The negotiator will start communicating with the insurance companies, lien holders and additional mortgage companies involved. The more entities involved the longer the process will take. I had a short sale that had 3 mortgage companies, 2 insurance companies and 4 lien holders involved. This file took nearly 2 years to close because of the many entities involved and the constant need to update documents from the seller. The buyer stayed in contract because we provided communication and the buyer was getting an awesome deal.


The negotiator will also look at the homes value, amount being written off and the sellers hardship. If any of these don't make sense, the short sale will probably not be granted. That means if the seller has $50,000 in the bank and the home appraised $100,000 above the contract price, the negotiator will probably not grant the short sale.


Not all short sales are the same. There are simple pre-approved portfolio short sales that take less than 1 month to close to complicated short sales as mentioned above. It is best to find out how many entities are involved, how much is being written off and what is the sellers hardship for requesting the short sale.


Since less than 25% of the short sales close that take longer than 6 months, I would say that if you don't get the answers needed, I would move on.


Hope this helps, Janet. 




RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Another blog post written by:
The Real Estate Wizard of Kansas City

Comments are appreciated! Go ahead and add your 2 cents . . .
Ask a Kansas City real estate question


Wednesday, May 9, 2012

Overland Park New Home Buyer wants to renegotiate real estate contract

Question: The REALTOR selling our home is also the Realtor for the new home subdivision where our new home is being built. Is the Realtor going to make commission off of both sales? The reason why I'm asking is they're doing nothing to sell my home other than placing a sign in the yard and placing it on MLS. Can we ask them to lower their real estate commission? 
Jerry T. from Overland Park, Kansas


Answer: Jerry, if you're under a contract with your Realtor for selling your home, you have already agreed to the commission. As for the purchase, the builder on that side is the one paying the commission so you don’t have the ability to change that one since you are the buyer. You can always ask for a change in the amount being paid – but if you signed a contract the Realtor may hold you to that. 


It is common for new home real estate agents to not aggressively market their resale listings. They owe their time and marketing to the developer of the subdivision. When selling a home, I always recommend reviewing your options BEFORE you sign on the dotted line.




RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Another blog post written by:
The Real Estate Wizard of Kansas City

Comments are appreciated! Go ahead and add your 2 cents . . .
Ask a Kansas City real estate question


According to the monthly RE/MAX Insights Report, real estate agents say that 1 in 5 home buyers pays cash for their homes with an average cash discount of 15%



According to the monthly RE/MAX Insights Report, real estate agents say that 1 in 5 home buyers pays cash for their homes with an average cash discount of 15%.


RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Another blog post written by:
The Real Estate Wizard of Kansas City
The Real Estate Wizards of Kansas City

Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.
Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.


Tuesday, May 8, 2012

I have talked to several Kansas City REALTORS and they tell me that there is no home buyer assistance programs. Have all of the home buyer assistance programs really been removed? I'm looking to buy a home on the Kansas side of the state line. Do you have any suggestions on some home buyer assistance?

Question: I have talked to several Kansas City REALTORS and they tell me that there is no home buyer assistance programs. Have all of the home buyer assistance programs really been removed? I'm looking to buy a home on the Kansas side of the state line. Do you have any suggestions on some home buyer assistance?
Allison W. from Kansas City


Answer: Sorry to hear that you haven't heard of any home buyer assistance programs, Allison. Although many home buyer assistance programs have been removed, there are still some home buyer assistance programs available. Here is a list of home buyer assistance programs that I'm familiar with:



 -  State of Kansas first time homebuyers program - provides down payment assistance to qualified Kansas buyers for the purchase of their first home.
 -  Rural first-time homebuyer program - statewide program by the Federal Home Loan Bank of Topeka
 -  Kansas Affiliates of Habitat for Humanity - through volunteer labor, builds and rehabilitates houses for families in need
 -  U.S. Department of Agriculture Rural Housing - homebuyer programs in rural communities. Gardner, Spring Hill, Wellsville, Eudora, Basehor and Tonganoxie qualify. A home buyer can get into a home with zero down.


 
 -  Kansas City
 -  City of Kansas City, Kansas - Community Housing Investment Program (CHIPs)
 -  Lawrence - homeownership assistance programs through a partnership of the City of Lawrence and Tenants To Homeowners
 -  Leavenworth - First Time Home Buyer Assistance Program

There is also available:
CHIP - can offer up to $25,000 assistance for home buyers in Wyandotte County.
Physician Mortgage Loan - Can offer a zero down mortgage loan for physicians.
VA Mortgage Loan - Allows a veteran to obtain a zero down mortgage loan.

If you need help, Allison, feel free to contact us.











RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Another blog post written by:
The Real Estate Wizard of Kansas City

Comments are appreciated! Go ahead and add your 2 cents . . .
Ask a Kansas City real estate question