From the Desk Of:  Gail Yancik, P.C.

Web Site: www.GailSells.com

Reece and Nichols Eastland | Email: Gail@GailSells.com

First Timers – This Is Your Time To Buy!

This is the type of Real Estate market that two years from now everybody will look back and say, “I sure wish I had bought then”. If you are sitting on the fence, wondering if you should take the plunge – you are not alone. Several top economic predictors call this “pent up demand”. As people start realizing that this buyer’s market is not going to last forever, they will start to investigate the facts and begin the process of becoming home owners. All of the factors are lining up for the next six to twelve months to be that year! Here are some of the facts:

Buyers are starting to realize that it is a good time to buy – inventory is starting to be absorbed – the supply is starting to go down. Because of the magnitude of the current active listings, this tipping of the scales to a Seller’s market will be gradual – but it will eventually happen. Over the next year or two the additional demand is likely to produce a Seller’s market. Predicted inflation secondary to the money pouring into the economy from the stimulus package will also cause home prices to increase.

The signs of this shift are happening now. New construction starts are greatly reduced in the Kansas City area. Foreclosure homes are being purchased by first time home buyers and investors in great numbers. Lenders are starting to loosen up on these investor loans. Fannie Mae is now allowing up to 10 loans per investor instead of just 4.

Lenders are anxious to make loans to qualified buyers. If you have heard that it is hard to get a loan – you are being misled. If you could qualify for a loan last year, you can certainly qualify now with the same credit and job status. FHA loans are only requiring a 3.5% down payment. Some rural areas like Grain Valley, Pleasant Hill and others offer 100% loans. Some areas are offering bond money or grant money. Interest rates are at historic lows and should remain low for at least few months. And of course, home prices are still low. Many people are buying nice homes that a couple of years ago were out of their price range. There has truly never been a better time to purchase a home.

AND….if you are a first time home buyer (by definition you have not owned a home for at least 3 years), you will get a $8000 tax credit that you will not have to pay back! Please click on this link below to learn all of the details about this exciting federal tax credit!

http://www.federalhousingtaxcredit.com/

First Time Buyers – This Is Your Time!

Are you ready?
Please call Gail Yancik if you have any questions or if you are ready to schedule a 'First Time Home Buyer’s Consultation'.

(816)223-9540