Overland Park KS Homes for sale & Johnson County Real Estate Blog: October 2008

********HUD announces new Incentive**********

 

The Department of Housing & Urban Developement(HUD) has just announced 2 new incentives for home buyers is Johnson County Kansas. These incentives are available to all buyers, not just first time home buyers.

The first incentive is a $100 down payment on all HUD homes. This is an incredible deal since there are very few down payment assistance programs available for Johnson County.

The Second incentive is a $1500 sales allowance that can be used for closing costs or prepaids such as insurance or property tax escrows. To use this incentive you must make a full price offer.

For both programs you must occupy the home and your primary residence.

Currently there are 12 HUD homes available in Johnson County and many more available in Wyandotte County. To see all of the HUD homes available click on our MLS Home Search.

For more information on HUD homes and the $7500 tax credit visit our website www.SearchjocoHomes.com or give us a call at 913-681-1383 to set up you no obligation buyers consultation.

 

I know what you are going to say, not another realtor trying to tell me how great the market is. I am not going to tell that the market is great. For a lot of people out there right now it is a nightmare but if you are first time home buyer that nightmare could turn into your dream home. I am going to give you my top 5 reasons to buy your first home right now.

1. Fantastic inventory of homes to choose from- I highly doubt that you will find a time with a better selection of homes. I am not just talking about foreclosures or short sale homes but new homes, resale homes, condo's & lofts. Compared to 2 years ago there are almost twice as many homes to choose from.
2. Lower Prices- Plain & simple, home prices have fallen and by as much as 10% or more. It is called supply & demand, when there are more home sellers than home buyers prices go down. Lower prices mean lower mortgage payments and lower property taxes also.
3. Low interest rates- For most first time buyers the rate 6% doesn't mean much but take it from someone who paid 9% when he bought his first home that 6% is a really low rate. It is one of the lowest rates in over 40 years. Don't take this low rate for granted, when Jimmy Carter & Ronald Reagan were president the rate was over 15%.
4. $7500 Tax credit- I don't know why this is getting lost. Come next April 15th your tax refund from the IRS will have an extra $7500 in it. Big screen TV, New Car, remodel the kitchen. Think what you could do with an extra $7500.
5. Desperate times equals desperate measures- Sellers need to sell their homes and you could be the beneficiary. Right now there are sellers willing to pay your closing costs, make extensive repairs and even repaint rooms or replace all of the carpet to get you to buy their home.

Take a look at who has been buying lately. People who get rich in this country buy when the market is down, not up. Why do you think there are so many homeowners in trouble right now. They bought at the top of the market. Be the smart one like Warren Buffet and buy at the bottom.

For those of you who realize that now is truly the best time to buy, click below to see all of the great homes available with my MLS Home Search

This is the opinion of The Russell Home Team and if you wan't to laugh me off as a realtor that full of hot air, go ahead. But I know that real estate is one of the best long term investments you can ever make. For a free no obligation buyer consultation and mortgage preapproval call us today, not tomorrow at 913-681-1383 or email me right now at michael@russellhometeam.com If you are still skeptical that's o.k. you can go to our website and look at pretty homes till your hearts content www.searchjocohomes.com

Home foreclosures in America are rising, not only are they rising but they are through the roof (no pun intented). The sad things is that home foreclosures are avoidable. That right, they are avoidable. If you are a homeowner there are 2 things you have. The first one is rights and the second one is options.  You have the right to keep your home. If you wish to keep your home, there are ways to keep it. If you don't want the home anymore than you have options. There has never been more options than right now.

If you wish to keep your home you should consider the following ideas:

1. Talk to your lender today. Do not wait 1 more day to let them know you want to stay in your home. The sooner they understand your intentions, the better off you will be, plus they take no contact from you as a sign of unwillingness.
2. Ask- Ask your lender for options like better terms, lower interest rate, longer term, just ask for help. Better yet demand it.
3. Seek help, there are plenty of hotlines available to help you work out options with your lender. Remember this, your lender does not want to foreclosure your home. They are in the business of lending money, not owning homes. It costs them a lot of time & money to foreclose your home.

If you do not wish to stay in your home:

1. Sell it, plain and simple put it up for sale.
2. Short sell it. If you owe more money on the house than it is worth you can ask the bank to accept less than is owed. This is called a short sale and it is very common.
3. Give the house back to the bank- This is called a deed in lieu of foreclosure. If the bank accepts you will avoid foreclosure and have a smaller impact on your credit and ability to purchase a home in the future.

If you are facing foreclosure or are having a tough time hanging on you are not alone. As a homeowner you have rights and they are guaranteed by the laws of the state you live in and you also have options

The key thing is to do something, don't let your home be foreclosed without a fight.

If you need help, start here: Foreclosure Hotline

1-888-995-HOPE or check out their website at www.HopeNow.com

Don't wait until it is too late, if you do not or cannot stay in your home contact the Russell Home Team for a confidential consultation. 913-681-1383, michael@RussellHomeTeam.com  www.SearchjocoHomes.com

 

Every day we are hearing or reading about home foreclosures. How they are soaring and banks are loosing billions. What is forgotten is the poor homeowner who loses their home. More and more homeowners are looking for help avoiding foreclosure and banks are finally offering the kind of help needed. There are many ways to avoid foreclosure and if all other avenues have been exhausted you might want to consider a short sale.

So what is a short sale? A short sale is when you sell your home and you ask the bank to accept less money than they are owed.

Why would a bank accept this? Because it will most likely cost them more Time & money to foreclosure your home.

What does the short sale process entail? You will put your home up for sale like normal. Once you get an accpeted offer you will apply to the bank to accept the short sale.

Why would I want to do a short sale? It will help you avoid foreclosure and should help you take less of a finacial hit than a foreclosure. It should also make it a lot easier to become a homeowner again.

Some Short sale FAQ's

• You must show financial need for a bank to consider you for a short sale
• There are possible tax consiquences related to a short sale ( Consult your tax advisor)
• Time is of the essence, if the bank has started foreclosure you need to make a decision now.
• Ask a professional, always consult professionals if you are unsure.

The Russell Home Team are experienced negotiators. If you are facing foreclosure and don't know where to turn call us for help. Our goal is to help you save your home but when all options fail we know how to succesfully negotiate with your bank.

Call us today at 913-681-1383 or email me in confidence to michael@russellhometeam.com

Maybe you have seen the commercials or have read about it on the internet or maybe you haven't. As part of the Housing stimulous bill passed in August congress approved a $7500 tax rebate incentive to fisrt time home buyers. If you have been considering purchasing a home in Johnson County Kansas and are a first time buyer? watch this short informative video to see how you can get a $7500 rebate on the purchase of your first home.

Now may be the best time ever to purchase a home. Get started now, click the link below to see all homes available in Johnson County, get pre-approved for a mortgage & find out about the $7500 tax rebate for first time buyers.

This report is brought to you by the Russell Home Team, your Johnson County Kansas Home Experts. www.Searchjocohomes.com

Are you looking to buy a house but don't have enough money for a down payment? Many would be home buyers meet all of the criteria to buy a home but are missing one crucial ingrediant, the down payment. If you are looking to purchase a home in Kansas City or Missouri you are in luck.

There are 2 program available right now to help purchase that first home. MHDC & the KC Dream fund can help provide up to 20% of the purchase price & closing costs when you purchase a home. If you have been waiting to get into the real estate market because a lack of down payment call us today and let one of our lenders get you preapproved.

For more information call Michael Russell at 913-681-1383 or email me at michael@russellhometeam.com

To search for homes now Click Here

This information is a free service of the Russell Home Team, your local real estate experts! www.SearchjocoHomes.com

5202 w 157th Terrace Overland park, KS 66224

Hampton Place Subdivision

$259,900

• 4 bedrooms
• 2 full & 1 half bathrooms
• corner lot
• remodeled kitchen w/ Granite & Stainless steel appliances
• spacious family room w/ built-ins & fireplace
• walking distance to new elementary schools
• fantastic community pool
• close to shopping & so much more...

Copyright 2008 The Russell Home Team, your Overland Park Home experts! Fore more information please visit www.SearchjocoHomes.com

15108 w 122nd terrace Olathe, KS 66061

$165,000

• 3 bedrooms
• 1 full 1 partial bath
• inground pool
• hot tub
• brand new carpet
• open kitchen w/ all appliances
• large corner lot w/ mature landscaping
• newer roof
• repainted exterior
• fantastic location near shopping, schools & I-35

Copyright 2008- The Russell Home Team, Your Olathe Kansas Real Estate experts! For more information visit www.SearchjocoHomes.com

Fantastic Overland Park 2 story home in highly desirable Hampton Place subdivision 15845 Briar Street Overland Park, KS 66224 Hampton Place 4 bedrooms 3 full & 1 half bathrooms, spacious master suite, granite counters, stainless steel appliances, formal living & dining rooms, hardwood floors, 2nd floor laundry, home office & so much more...

Copyright 2008- The Russell Home Team, your Overland Park Real Estate experts! www.searchjocoHomes.com

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This information is a free service of the Russell Home Team, your Westwood Hills & Johnson County Kansas real estate experts! Please visit our website www.SearchjocoHomes.com for more information on all Johnson County Communities.