Buy Now???

In March 2009, the median home sale price for St. Louis County* dropped by approx. 19% giving buyers more buying power! Lower prices and lower mortgage rates make this an opportune time to buy real estate. For First Time Home Buyers (meaning a person who has not owned a primary residence within the past three years ) the $8,000.00 or 10% of sale price tax incentives* (with a return still available this year) and down payment assistance programs* are knocking at your door!! Plus FHA loans are now available for up to $281,250.00 with a low downpayment of 3.5%. So, if you're renting, and wanting a yard for your children or even a dog(s) or tired of hearing your neighbors thru paper thin walls, now's the time to take advantage of home buying!! Have you ever considered or dreamed of owning a Second Home? Especially after hearing from a friend or family member who just came back from their condo/home on the beach! With record low rates, its a great time to buy in what is considered the four sand states (Florida, Arizona, California and Nevada). These states have the highest foreclosure rates and while dealing with a bank owned purchase may be a challenge, your patience will be rewarded with instant and often high equity!!

Sell Now??? 

There's less for buyers to choose from. Available homes for sale in St. Louis County are down approx. 17% compared to last year and approx. 28% compared to 2007. End of March 2008 showed 5,560 listings while at the same time this year showed 4,595. Less foreclosures may be a contributing factor. The Making Home Affordable program is designed to help 9 million homeowners remain in their homes thru government-backed refinancing* or mortgage modification*. 

With fewer listings on the market, make sure yours stands out!! If it's priced right and shows well, it will sell!! 

Why Now???

If you're going to make a move, now is the time! In down times comes opportunity. What goes up, must come down and vice versa. Keep in mind, like all opportunities, they won't be around forever.

Above article was published in the June/July issue of the St. Louis County Women's Journal!!