NEW LISTING IN TOPEKA KS. Upscale luxury twin home with 3 BR, 3 BA, open fl plan, ceramic & carpet. The unique kit features include top end cabinetry with plate rack, spice drawers and breakfast bar. All necessary amenities on main fl including all appliances that stay. Fireplace in Great rm with vaulted ceiling and room for dining all overlooking the deck. French doors to spacious master w/walk-in closet, jacuzzi & shwr. The 2nd bedroom is currently used as a den and another full bath complete the main floor. Deck and patio over look the driving range and putt-putt BUT, in the summer tree line in the back make it very private. Finished walk-out basement include: Large open Rec room, storage, wet bar, bedroom & bath. This home is ideal for small family, singles or retired persons and close to shopping, entertainment and within walking distance to the elementary school. For details or private tour call Becky Burghart 785) 640-8811 or see video tour at www.beckyburghart.com
I thought it would be interesting to share the following information provided by our Association as it pertains to the Topeka Kansas Real Estate Market for 2008 Year‐end.
• Sales are down approximately 18% from 2007
• Listings input for the year are also down 16%, which indicates a fairly stable market
• Average sales price is down about 3% from 2007, however, it is up 1% over 2006
• Average Days on Market for year-end was 71, which is up from 64 in 2007 (11%) and up from 61 in 2006 (16%)
• Year end average inventory was 6 months - still indicating a balanced market
So, what does all this mean for the Topeka home buyer and/or seller? Well, I interpret it this way: Yes, sales were down18% BUT so were listings down 16%. That means if I am a buyer and cannot find a home of my liking it might be because of the lower number of homes to choose from. The inability for a buyer to purchase may in reality have nothing to do with the ecomony at all. Buyers typically do not think, "OH WELL I can't find a house I like so I will settle for this one over here." Heck NO!!! They are saying, "I'll wait until something I like becomes available"!! AND That has nothing to do with the economy!!
SO, my recommendation is this: SELLERS: Get your house on the market. BUYERS: If you are first time buyers, yes, you now have to bring 3.5% downpayment (welcome to your parents world!! They probably had to bring that and more as downpayment) BUT you have a $7500.00 tax credit just waiting for you to take advantage of. THE REST OF YOU BUYERS: If you are watching any of the congressional hearings, well, you know. If the Senate version passes with the $15,000 tax credit, I think the real estate market is going to explode again.
Additionally, I think we DO have to see some drop in Interest Rates too to stimulate the first time home buyer. Bond Money with a reasonable interest rate would be GREAT too.
FINALLY, If you are real buyers and sellers, stay on top of the congressional activity bcause you want to be at the beginning of the activity not the end. Sellers, get your house on the market NOW and be a little patient. Average days on market of 71 days is Awesome in a RECESSION?
Attention Buyers: To follow up my earlier post today!!! Interest Rates here in Topeka,KS dropped today 1/7/09 to a SIZZLING 4.875% on 30 year fixed conventional loan - No points and a 15 year fixed conventional loan - No points went to: 4.75%
Even FHA/VA dropped to. FHA 30 year is same as conventional 30 year. 4.875% and 15 year went to 4.5% but with .375points
NOW what should be more motivating than THAT? If you are a ready, willing and able buyer. Get out there and buy.
Attention Home Buyers: It seems like all the home buyers I have dealt with lately are talking out of both sides of their mouth. They say, "Yes we want to buy" but when we find a home meeting their criteria They cannot do it. The reluctance is due to: A.) Scared of the ecomony and/or B.) Have a house to sell and are not willing to take a loss on the Selling end but DO expect a DEAL on the buying end or C.) Want to "WAIT AND SEE" if rates drop or a better house comes on the market. I do not understand this thinking....IT IS A BUYERS MARKET!!! WHAT ARE YOU WAITING FOR???
I have come to the conclusion that this thought pattern really isn't their fault. I blame it on negative press and it is my job as a Top agent to help buyers understand what is happening and why they feel this way.
So, here goes. First let's address A. Scared of the ecomony. Rightfully so. If your job is unstable, I would consider not buying right now. So, stop looking at houses, save for your downpayment and when the time is right, you will be MORE prepared that you are today. I think back to when I bought my first home. (1986) The interest rate on my first home was 16.75%. I was 26, a newlywed and expecting a baby. We had to put 5%-10% down. My husband was in an appointed position and could loose his job without notice. The situation 20 years ago is not so different than today. However, interest rates are much lower now but the cost of living is higher too. We took a risk back in 1985 and lived in our home for 19 years. We were lucky enough to stay in our home long enough that the equity allowed us to buy a larger home and still keep our payments within a reasonable level.
Which brings me to B.) The buyer has a house to sell and are not willing to take a loss on the Selling end but DO expect a DEAL on the buying end. Here is a hard dose of reality. That's not going to happen BUT the good news is you will be better off today then I was when I bought and sold in 2005. It was a SELLERS MARKET just a couple of years ago. If you are planning to sell and buy a more expensive home you will most likely be ahead!! For example: Your home is on the market for $100,000 and you take 10% loss and sell for 90,000. Your loss is: $10,000. BUT, you buy a $200,000 house for $180,000 or a 10% reduction you save: $20,000. All of your friends who paid premium prices in 2000-2006 are now seeing home values drop. But Real Estate is a long term investment. If you are a seller and NOT buying a larger home but want something smaller wait until the market works to your advantage. Because this Buyer Trend will end.
C.) Want to "WAIT AND SEE" if rates drop or a better house comes on the market. These are the buyers that drive me crazy. ARE YOU KINDING ME??? IF YOU FIND WHAT YOU WANT, BUY IT FOR CRYING OUT LOUD. HERE'S WHY. Everyone knows we are in a Buyers Market so home prices are at a low point. Some buyers have told me thank you for opening my eyes because 6 months ago, they could not afford the house they bought. BUT no one will know when it will end. AND it will and it's coming!!! No one knows when. So, I ask you. What are you waiting for? That lower rate may not come and the better house you thought you wanted is now out of your price range.
Once the market begins to show signs of recovery the home prices will start going back up and so will interest rates. So, I say to buyers who can buy and are ready, willing and able. Get off the fence, find an agent that knows your market and buy now.
One more comment: IF you need help finding an agent, it would be my pleasure to assist in that process. Who better to find a good agent but another agent!!! It's just one of my services I offer to anyone in any state. I can find you an agent you will be happy with. CALL ME: Becky Burghart 785) 640-8811 or email me for help. becky@beckyburghart.com and if you are looking in the Topeka KS area we are the 6th MOST Afforable housing in the National, check out my website: www.beckyburghart.com
To Active Rain members: I just had to share a new video provided by the Topeka Chamber of Commerce. It is awesome and I wanted to share it with all of you. Click the following link and ENJOY.....This is MY TOPEKA.
1138 SW WAYNE AVE This new listing will be open for the first time this weekend November 9th. Check my website www.beckyburghart.com for full open house details and tour.
You will fall in Love inside and out with this Cape Cod Style 3 bedrooms, 2 full ba, 2 car garage, 1.5 story with 1600+ sq ft. Front entry with tile flooring. Living rm carpeted with WBFP opens to dining room with 2 built in hutches and hardwood flring. Off the dining is kitchen where appliances will stay and Family Room-this is where you will spend your time!! 2 of the 3 bedrooms are on the main fl with impressive room sizes. The bath features 2 vanities. On the upper level is would be a self contained master retreat OR teen get-a-way complete with Heat & air, full bath, tons of storage and built in desk. Basement is unfinished with cedar closet and room ready for sheetrock and finishing touches. The exterior is low maintenance siding, composition roof, 2 car garage and fenced yard. Meticulously maintained and in the same family for the past 30 years!! Call Becky Burghart (785) 640-8811 for a private tour or email me at: becky@beckyburghart.com for more details.
As a Top Real Estate agent in the Topeka Real Estate area I visit you to visit my website www.beckyburghart.com in order to stay abreast of what is going on in the Real Estate market in Topeka, KS. I frequently post important information about changes in our market, interest rate drops and things that effect local buyers or sellers.
Monday of this week, Fannie Mae and Feddie Mac were saved by the Government. On Monday alone, mortgage interest rates dropped 3 times. Starting at 6.125 and ended at 5.75%. The week prior rates were at 6.5%.l This is the lowest since March 2008. I would highly encourage you to buy if you have been waiting and watching rates. This is the most dramatic drop for months and the unpredictable thing is, rates can change daily. As your lender if you can "lock" a rate without a contract if you are undecided on a house.
Well, you can tell that fall is just around the corner by special outdoor activities starting this weekend. Here are a couple.
The celebration of American Indian culture returns to the Topeka area at Shawnee Lake. This event marks the 18th annual Traditional Inter-Tribal Pow Wow. It is located in Tinman Circle on the East side of Lake Shawnee and runs thru Sunday. Tickets at the gate are $8.00 or advanced at Dillons $6.00. This is a great opportunity to learn and have a good time at are reasonable cost.
The Great Overland Station is the location for this years Railroad Festival (formally known as Railroad Days) What a great place to have this event. It is today Saturday from 10 -10. The Overland Station is at 701 N Kansas Ave. The cost is $15 adults; $8 kids 12-5 and under 4 free. The Platinum Express & Full Steam Horns will perform at 7:30 Sat night.
Of course don't miss my Open House on Sunday at 1231 SW Wayne from 12:30-1:30. You can get complete details by going to: www.beckyburghart.com
Have a safe and relaxing Labor Day Weekend. Best to you.
OK all you Topeka KS buyers here is one you want to see if you have a place in your heart for Victorian Style. From the time you pull up in front you will enjoy warm summer nights on the front porch which faces East. Once inside you will immediately notice the brand new hardwood floors and the natural stained wood work. Takes your breath away!! The open floor plan is what every buyer desires today. The living room stretches 23x14 and the Dining room is L-shaped and could accomodate just about any size table. The dining area is compete with built-in desk. Now for the Kitchen. Nice facelift in this area from the floor to cabinets and the addition of a main level 1/2 bath is a plus. Even the entry to the basement is nice!! The deck is off the kitchen and would be a nice place for a table and chairs. Yard is fenced and oversized deattached garage is a nice surprised. The upper level features 3 bedrooms, a bath and ample attic storage. The appliances in the house stay.
Check all this out on my website: www.beckyburghart.com or call me for a private tour. Here are a few pictures.
As a Real Estate Professional I try to keep all my clients/prospects/friend/family who might be thinking of selling or buying a new home informed when interest rates drop. I just love it when a mortgage lender notifies ME when that happens!! It gives me the opportunity to share the information. One of my favorite lenders did just that today 5/19/08.
Keep in mind things in the mortgage world change rapidly. Tomorrow they may go up or down but, it might be worth a phone call so I can share the information my number is: 785)640-8811 or email me: becky@beckyburghart.com or contact me thru my website; www.beckyburghart.com. You can search for homes located here in Topeka Kansas or surrounding area. On my site is the most up to date public website available to the general public.
Becky Burghart, Real Estate Agent with a locally owned broker. Serving the Greater Topeka area which is the Capitol of Kansas. It is my pleasure to serve your real estate needs in or around the Topeka area. Call me at: 785) 640-8811
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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