The national, and oftentimes local, news media have a penchant for sensationalizing negative real estate news. Why is this? Do they think it will sell more newspapers or more air time? It probably will to those whose glass is half-empty, but it doesn't work for me. I know the truth.
The real estate market in the Springfield, MO and Christian County area is actually very steady. Not what it was in 2005, but strong nevertheless. There has never been a better time to buy! There is a strong inventory of well priced homes and interest rates are equal to or lower than they have been in years. And there are still lenders willing to loan. That spells opportunity.
The naysayer sellers think it is impossible to sell their homes in this market. I don't think they know the truth either. It is true that the days are gone of putting an inflated price on your home and still getting a buyer. However, properly researched pricing techniques and agressive marketing exposure are still selling lots of homes.
Bottom line is that the market in this area hasn't gone to the dogs like some of the coastal states and manufacturing areas with high unemployment. Buyers and sellers are still accomplishing their goals. Do your research. It's better than you think.
Are you one of those real estate buyers waiting to buy until the market "bottoms out" to be sure you get the best deal? If so, maybe you should rethink your strategy.
The February 25, 2008 issue of Time Magazine has a great story on page 54 that makes a great case for buying now. To be more specific, if you compare a mortgage payment on a typical house at today's price and interest rate with the same house at a later date with a devalued price and the interest rate then, you might see that it is best to buy now. Let me give you an example: the average home in the Springfield, Missouri Multiple Listing System (MLS) sold for $147,800 in 2007. If you bought that house on a 30 year loan with 20% down and at a 6% interest rate, your monthly principal and interest payment would be $708.90. If you waited 6 months and that house went down in price 10% due to market conditions to a price of $133,020 (just what you were waiting for, right?), and you bought it with the same 30 year 20% down loan but a higher interest rate of 7%, your principal and interest payment would be $707.98. Didn't really save anything, did you?
The logic behind this, like the Time Magazine article says, is that the conditions that cause the average home values to stop sliding are the same conditions that cause mortgage interest rates to climb. So any way you approach it, it is kind of a gamble. If you wait for prices to drop, you're taking a chance interest rates don't increase so much that your lower purchase price is offset by higher interest.
Real estate sure is fun isn't it - just like the ice covered roads this morning in Springfield, Ozark and Nixa. It's been a good day for blogging and for buying real estate!!
Rick
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This real estate team is committed to making sure you "Get MORE Than You Pay For!" From a Guaranteed Sale Program to a FREE Moving Truck, your next move will be your best ever!
Our names are Rick & Pam Gardner, and we've carefully hand-selected a small team of agents and staff to form what we call 'The Home Gardners'. We are an education-based team so that you can be educated buyers and sellers. We do hold several real estate designations (CRS, GRI, ABR) but more importantly, we seek timely ongoing training to make sure we have a firm grasp of market trends and the steps we must take to get our sellers top dollar and help our buyers find the best deals out there.
Successful real estate agents must possess knowledge in many areas, from local geographics, to well and septic issues, to construction techniques, to photography, to negotiation skills, to legal issues, and many more. In our 25 years of experience, I can't say that we've seen it ALL, but we've certainly seen a LOT, and we feel equipped to handle whatever comes our way. You need an agent that can navigate the rough spots for you, because if they can't, you can be exposed to the liability they cause.
Our mantra is "Get MORE Than You Pay For!" We know there's no law that says you have to use an agent to buy or sell a home, and if you do use one, there are certainly many to choose from, so we intend to make sure you get your money's worth! We'll proudly stack our service plan up against anyone else's. We're that confident you'll see the difference!
One of the best things about working with a team is that we can grow with you. By having several agents all using the same tried and true systems, we're prepared to help you from your first home to your dream home to your retirement. Our local market has housing options for everyone, from starter homes and investments as low as $40,000 to magnificent showcase homes worth over $1,000,000!
Within a 30 minute drive, you can go from inner-city Springfield to rural America. From small city lots with low maintenance to spacious 1-3 acre lots for spreading your wings, to smaller hobby farms, to full-blown farms and ranches. Whatever your heart desires, the Ozarks area can make your dreams come true.
While our specific area of expertise lies in Greene and Christian counties (Springfield Missouri, Nixa Missouri, Ozark Missouri), we have a network of great agents across the southern Missouri area, so if you want to be closer to the lakes in Branson Missouri, or east toward Mountain Grove or West Plains, or west toward Joplin Missouri, we can help you locate a GREAT agent in your area.
Everyone in this office is personable and helpful. From the receptionist knowing the clients by name, to the help staging our home, we were impressed by the service we received. The day you sign with this team, you are part of the team! Shannon & Barbara McCoy.
Rick, words cannot express how helpful your team was. As you know, while we were selling our home in Springfield, we were also buying a home in St. Louis. Our buyer's agent in St. Louis was not exactly the shining star of Realtors - Julie set the bar very high! Everything our buyer's agent in St. Louis told us, I ran by Julie to see if it was correct or not. Julie even helped us maintain our home in Springfield while we were out of town. We are very happy with how easy your team made the sale of our home, thank you for a seamless transaction. Michael & Michelle Baugh
The Home Gardners are the best in the business! We always have great experiences with them and would highly recommend them. Aaron & Heather Summers
Rick and Pam Gardner along with the team are great to work with. They are honest, straight-forward, and conscientious. This is why we are "repeat" customers. Floyd & Shirley Smith
Erin is the best realtor I have ever worked with. I have sold 2 other homes, and this has been the easiest. Erin is professional, friendly, and a joy to work with. I will call back next time I need some help and will refer my friends to both her & Keller Williams. Becky Campbell
Matthew & the whole Home Gardners Team was friendly, fun & professional. We had a goal date on selling our home & they made it happen! We would recommend him & the team all day, every day! Thanks Matthew! P.S. Plus, we had more than one offer & got more money! (Always nice!) PJ & Tammy McClure
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