Conway, AR

With Interest Rates Low, and good deals on the Market. Why are the buyers waiting?

After talking with some of my potential clients about purchasing their first home, i have heard some startling objectins to why they are hesitant to purchase a home?

Buyer: The media says we are still in a slight recession and i just dont think purchasing a house is right for us at this time.

YourExitRealtor: Now is the perfect time to purchase your first home, Interest rates are at a Historical LOW! I have had clients lock in at 4.00% we haven't seen rates that low in decades.... Housing prices... sellers need to move there houses, so they are dropping the prices to get them sold.... i saw a house sell for $16K under market value yesterday and it wasn't a foreclosure or short sale...

Summary... Rates are good, Housing prices are Great! BUY NOW...

Buyer: I don't have the money saved for a down payment....

YourExitRealtor: Well lucky for you I have some great lenders that i work with, and there are a few programs out there that if you qualify for you could receive Down Payment Assitance, or you could look at Rural Development qualified houses, which offer 100% Financiing, Yes that is correct i said 100% Financing. So see even if you don't have a lot saved to purchase a house, we might find the right program to help you take advantage of some really great deals on the market now...

Buyer: Are Foreclosures and Short sales a good deal?

YourExitRealtor: Foreclosures are 50/50. They offer you some really really good deals. Some Foreclosures are Move in Ready, and some will require you put a little elbow grease into the house. Foreclosures some time move a little bit quicker than short sales, with Foreclosures you are Negotiating with the Bank Directly, Short sales you have to Negotiate with the Seller and the Bank which could take up to 120 days just to get an accepted offer.

In my opinion i would stick with Foreclosures, but that is not to say you can't find an incredible deal on a short sale.

December 28, 2010

Economic and Housing Outlooks Brighten for 2011

RISMEDIA, December 28, 2010-Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic Outlook released today by Fannie Mae's (OTC Bulletin Board: FNMA) Economics & Mortgage Market Analysis Group. Downside risks still exist, however, including a weaker than expected employment report, the ongoing economic turmoil in Europe, and potential inflation problems in China.

For 2011, forecasted growth was upgraded from 2.9 percent to 3.4 percent based on the positives in the recent reports. The forecast anticipates improving labor market conditions, despite the huge disappointment from the November employment report. The housing recovery should gain momentum going into 2011 if the expected stronger labor market materializes.

"Despite rising mortgage rates, our forecast for home sales is stronger than the previous forecast, given our brighter economic growth and labor market outlook," said Fannie Mae Chief Economist Doug Duncan. "We expect modest increases in home sales, despite recent interest rate rises, due in part to modest additional declines in home prices, and we expect people to take advantage of affordability as their employment and income outlook brightens."

For an audio synopsis of the December 2010 Economic Outlook, listen to the podcast on the Economics & Mortgage Market Analysis (http://www.fanniemae.com/media/economics/index.jhtml?p=Media&s=Economics+...) site at www.fanniemae.com.

Nearly 80% of Americans Still Believe Buying a Home Makes Good Financial Sense

Nearly Eight in 10 Americans Still Believe Buying a Home Makes Good Financial Sense

RISMEDIA, October 15, 2010-Nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. That's according to the 2010 National Housing Pulse Survey, an annual report released by the National Association of Realtors. The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70% of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership.

"The real issue facing the nation's economy right now is that many Americans can't find meaningful work to support their families," said NAR President Vicki Cox Golder, owner of a real estate company in Tucson, Ariz. "While a job recovery is what's needed right now to get the economy and housing market back on the right track, owning a home continues to be part of the American Dream and one of the best long-term investments in your future."

Despite economic uncertainty, 68% of those surveyed still believe now is a good time to buy a home; while that number is down from last year (75%), it's up from 2008 (66%) and 2007 (59%). Lower home prices and record-low mortgage interest rates may be attracting buyers to the housing market-more than one-fourth of renters said they are thinking more about buying a home than they were a year ago. Sixty-three percent of renter respondents said that owning a home is a priority in their future, and nearly 40% said it was one of their highest priorities.

Lower home prices have improved affordability. In fact, the percentage of renters who are worried that the cost of housing is getting so unaffordable that they will never be able to buy a home has decreased steadily since 2007, from 63% to 57%.

Despite improved affordability, 79% of respondents still consider having enough money for down payment and closing costs to be among the biggest obstacles to buying a home. Another obstacle is a lack of confidence in their ability to be approved for a loan, reported by 73% of respondents.

The good news is that Americans are seeing more stability in the real estate market. Nearly seven out of 10 believe that home values have stabilized in their area; the same number expects home sales to remain about the same through the end of the year.

While more than half (51%) say foreclosures are a problem in their area, the rate of foreclosures is also seen as stabilizing; 51% say the rate is about the same as last year. Thirty-six percent of respondents cite the recession, loss of jobs and the poor economy as the main reason for the ongoing foreclosure problem. This has also led to a slight increase in the number of people who believe the federal government should take a more active role overseeing loans and mortgages (44%, up from 43% last year).

While nearly seven out of 10 say it's harder to sell a home in their area today than it was a year ago, it's less of a concern from last year when the number was 10 percentage points higher. This is most likely the result of lower home inventories.

The 2010 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NAR's Housing Opportunity Program. The telephone survey was among 1,209 adults living in the 25 most populous metropolitan statistical areas. The study has a margin of error of plus or minus 3.1 percentage points.

Check out the Hot Deals in Central Arkansas at www.yourexitrealtor.com

I just wanted to let you know what my past clients have said about me in the recent months.

I promise to provide 100% customer service... I look forward to hearing from you soon.

www.YourExitRealtor.com

"Blake made the sale of our first home a comfortable experience. He made us feel more like friends than clients. Since this was the first home we ever sold, we had many questions and concerns. Blake was available day and night to put us at ease and to show us any house we wanted to see. He was a joy to work with. I would recommend Blake to anyone looking to buy or sell a home."

Chris and Kristy Bentley

"As first time homebuyers, we had no idea what to expect when purchasing a home. Selecting Blake Roussel from Exit Realty Select as our realtor was the best decision we could have made. Having Blake by our side, from viewing houses, making an offer, and finally closing on our home helped make the process seem effortless. We had no idea purchasing a home could be so emotional; however, it was Blake's experience and advice that allowed us to make our dream a reality. Ultimately, Blake made buying a home something we could do everyday, as long as we had his help."

-Rebekah Gardner and John Fincher

We had an awesome experience working with Blake as our realtor. This was our first experience of buying a house, and Blake walked us step-by-step through the whole process. He was able to take what we knew we wanted in a house and add what we didn't know to want, and ultimately guide us to our dream home. He was extremely helpful and patient with us and always willing. We will definitely go back to Blake when the time comes to sell and buy again!

Marcus and Katie Bobbitt

When my wife and I got married, we decided it was time to move out of the apartment and find our first home. I have known Blake for many years, and have a good friendship with him; however, throughout the entire home buying process, he treated my wife and I like any other client. He was able to work with our budget, show us homes at times that fit into our schedule, and able to meet with us after normal working hours. Blake went above and beyond to make our first home buying experience a fun and exciting experience. I would recommend him not only to my friends but to anyone who is looking to purchase a home. Thank you Blake for a wonderful experience.

Brian and Rachel Homard

When I first started looking into buying my first house, I knew I needed someone to help me out. I asked around and a friend gave me Blake's name. I called him up and from the very first time I talked to him he was a very big help. Blake was right there to help me figure everything out. It being my first time to buy, I had a lot of questions about everything. He always gave me the straight up answer and I felt like he was really looking out for my best interest. . He found a perfect house for me in a great location.

I would recommend Blake to anyone that wants to sell or buy a house.

Thanks

Brandon Attaway

I had known Blake for a long time when we decided to buy a house. I knew from the beginning that I wanted to use him as our realtor. Blake was so helpful. We were buying our first home and didn't know exactly what we were looking for. Blake was patient with us even though it took us over five months to actually make a purchase. Any time I needed Blake, he was available. None of my phone calls or questions went unanswered. Buying your first new home can be a stressful experience, with Blake it was simple, and even fun! I will recommend Blake to all of my friends and will use him to sell and buy our next home!

Clint and Stacy

I was looking to buy a house in February 2010 and was referred to Blake Roussel with EXIT Realty to help me find one. I emailed Blake and we set up a meeting to look at prospective houses. When I arrived he already had a list of houses within my price range in the area I was looking. We discussed the advantages and disadvantages of each and he gave me honest and direct answers to any questions I had. He was very helpful and saved me a lot of time up front. When we started looking at houses in person he would say whether he thought it was a good value and explain its pros/cons but he always had my best interests in mind and never pushed me in a direction that I didn't want to go. Blake is very easy to contact as he checks his email and text messages frequently. I would highly recommend Blake Roussel to anyone looking to buy a house in the Conway area. He made the entire process as painless as possible. Thank you Blake for helping me purchase my first home.

Drew and Alicia

"As a first time homebuyer, Blake was very accommodating and made the process easy for me. The whole process happened rapidly and I felt very comfortable and confident once everything was finalized!"

Lindsay

Blake made our experience of buying our first house wonderful. He explained everything to us in a way we could understand. He was more than willing to work around our schedules. We will definitely be going back to him in the future. We would recommend him to anyone who is in the market for a house! Thanks again Blake!!!!

Randy and Robyn

I had known Blake for a while when Stephen and I decided we wanted to purchase a home. There was no doubt in my mind on who to choose as a Realtor. Blake was wonderful! As first time home buyers, we didn't have a clue. Blake was there to answer all our questions and lead us in the right direction. It was a great pleasure to work with Blake. I recommend him to all my friends and family.

Terri and Stephen

When we were just in the idea stage of looking at houses my first call was to Blake. He wasted no time setting up appointments to look at the houses he knew fit our price range and the style we were looking for. We never felt pressured and always had prompt, informed answers to all of the questions we had, and we had a lot of them! Blake was patient and after only 2 weeks of looking he put us on the perfect house that would become our home. He took care of every detail that we, as first time home buyers didn't know anything about. We will definitely be calling Blake when it is time to sell and purchase our next home!

Justin & Kim

My husband and I attempted selling our home ourselves for four months before being approached by Blake Roussel with Exit Realty Select. After no luck selling our home within four months (and having very few viewers) we decided to list with Blake, and we are so pleased that we did! We received and accepted an offer on our home within 2 days of listing with Exit Realty Select, and the closing preparations began soon after that. Blake walked us through every step of the closing process, and explained things to us (as first time home-sellers) in a way that helped us understand the procedures. We are truly grateful for Blake and Exit Realty Select for making our real estate experience an extremely pleasant one, and I gladly recommend his services to anyone pursing guidance in selling or purchasing a home in the future.

Karl and Angela

Many people living in Conway, AR rent their homes. I have always asked them why do you just throw money away? The answer i get time and time again is, "i can't afforda a house, or i don't want to spend that much money a month."

Well folks her is the answer to them.

Renting a 1200 square foot home in Conway, AR cost the tenant any where from $750-$900 each month. That is money that is being thrown down the drain...

A 3 bedroom, 2 bathroom home in Conway, AR, that is 10 years old, has a market price of around $110,000.00. With a 30 year FHA fixed Rate mortgage at 4.5% interest (taxes, insuance, and PMI included in the payment) would run a home owner around $775.00 a month..

Benifits of owning your own home:

1. You can deduct the interest and property taxes on your tax return.

2. There is no annual increase in your Fixed Rate Mortgage payment, there might be a 3% increase annually for a lease.

3. Real Estate historically tends to appreciate, So over the next 5-10 years your home will gain value.

4.FREEDOM... Yes Freedom there is no landlord hasseling you, or telling you what you can and can't do in Your Home...

If you have any questions about the Local Real estate market please feel free ask them at

www.yourexitrealtor.com

Blake Roussel