Renters and First Time Homebuyers, WE ALL NEED YOU! You are a huge part of the solution of todays housing crisis. We all know that in order for our housing system to work efficiently the DOMINO Theory has to be healthy.  Example: I am a 1^st time homebuyer and I buy your $59,900. 2 bedroom 1 bath 1 car garage home in an older slightly deteriorated neighborhood. That seller now has their 1^st baby and had a few salary hikes and buys a $109,900. property that is 3 bedroom,2 bath, 2 car garage with about 1200 sf. in a little newer area. That seller had their second baby and is ready to move on to a $149,900. house and that seller is ready to move on to a $199,900. purchase and that seller can buy a $250,000. And on and on.  Now we all know that there are exceptions to that rule. A great new more lucrative job, moving in from another area that has much higher housing values, a baby boomer deciding to downsize, and a windfall of new money or simply finishing our education to move into our career choice can help us skip steps.

But remember, for the purpose of this article we are focusing on 1^st time buyers. How do we encourage those buyers to enter into the historically cheap market the buyers are seeing today? Educate them!! Teach our follow Americans that paying their bills today on time will save and make them SO much money in their lifetime. In yesteryear, a bad credit rating just meant higher credit rates or to be turned down for a loan. Todays world revolves around your credit report whether it is for a job application, car insurance or homeowners insurance. Dont be fooled...your credit score is more accessible than your Facebook page.

Forbes Magazine said 3/23/12 that in 98 out of 100 US cities (exceptions were Honolulu&San Francisco), buying today is cheaper than renting. Why? Forbes says:  Home prices have plunged as much as 50% in some metro areas since the housing bubble burst in 2007, where they continue to bounce along the bottom now.  Rents, on the other hand, have been rising in many markets over the past several years thanks to a swelling demand fueled by both foreclosed-upon homeowners and prospective buyers either afraid or unable to buy. Zillow, for example, estimates that rentals have risen at least 3% nationally since January of 2010. Of course, the question of whether to buy ultimately comes down to personal factors, low prices or not. If you arent planning on staying in a property at least five years, the upfront costs of buying may not be worth it

Can you buy with NO DOWN PAYMENT? YES !!  Do you have an average credit score and a skilled experienced local lender that can help you qualify for one of the great first time homebuyer programs that GIVE you 3% to use towards your down payment? Do you have a skilled experienced Realtor that can help you select a property that can afford to roll your closing costs into the offer price of the property?  Do you have a limited amount of extra money that could pay for an appraisal and/or a Home Inspection? These costs could be spread out over a 4 week period.

More Questions: Contact a skilled experienced local Realtor in your area or contact,

Cathy Womack, GRI, MGRI, MRE, SREC, CDPE, ABR, ePRO

RE/MAX Solutions

Direct: 417 880-6247

Office: 417 581-7888

Email: cathy@eOZARK.com

Website: http://www.eOZARK.com

Helping people move in or move on for over 30 years.

Top 4 Reasons why NOW is the Time to Buy a Home

    1.   Free Money - Up to $8,000. (10% of purchase price) free money for first   time or people who have not been homeowners for 3 years. There is even a way you   can get to use that money up front!

2.   Stabilize your housing costs 2009 brings lots and lots of former homeowners to the rental market. They cannot buy another home because their credit rating has been trashed by the loss of their previous home. It will be many years before they will be able to buy.  The market is a supply and demand environment. The landlords want the best return for their investment as they can get. Right now there is an over supply of rentals because so many owners/builders have been forced into the rental market because they cant sell their properties. As soon as the market turns around and real estate starts to sell again, the rentals will get harder to find. Most owners/builders do not really want to be landlords. They want to sell their properties and free up their money.  Premium rentals will become scarce and expensive. Rents will continue to rise. When you buy a home, the principal payment is the same for 30 years. The only thing that goes up is maybe your real estate taxes and your insurance premiums. 

3.   Lower interest rates - Currently interest rates are lower than they have been in some time. If you are thinking of buying a home, now is certainly the time to do so in order to make sure you lock in those great low rates.

4.  More Space - You may very well find that in today's market you are able to afford a larger home for the same amount of money or even less money than you are currently paying every month in rent. If you dream of having a home office, starting a family soon or expanding your family, now could be the best time to get the additional space that you need for the right amount of money.