Springfield MIssouri Real Estate Blog Archive Team Thomas

Vote "YES" on Amendment 3

Tuesday, October 12, 2010

by Team Thomas Realtors, Randy & Jenny Thomas

It's Time To Say "YES" to NO MORE TAXES

Vote "YES" on Amendement 3

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Buyers rush to beat FHA tightening

Wednesday, October 06, 2010

by Inman News

Demand for FHA-backed loans up 17.2%

Homebuyers rushing to beat new FHA credit score and downpayment requirements last week may have helped push demand for purchase loans last week to their highest level since the expiration of the federal homebuyer tax credits, the Mortgage Bankers Association said in releasing its Weekly Mortgage Applications Survey.

Applications for purchase loans jumped a seasonally adjusted 9.3 percent during the week ending Oct. 1, thanks largely to a 17.2 percent increase in applications for FHA-backed loans, the MBA said. Applications for conventional loans were also up 3.6 percent from the previous week.

Under changes announced in July, FHA borrowers assigned case numbers after Oct. 4 will need a 580 FICO score in order to purchase a home with the minimum 3.5 percent downpayment.

Borrowers with scores between 500-579 must make downpayments of at least 10 percent to qualify for the government-backed mortgage insurance program, and those with scores below 500 won't qualify for the program at all, HUD said in a Sept. 3 letter to lenders.

It was the second straight weekly increase in purchase applications, pushing demand to levels not seen since the first week in May.

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Interest Rates Preparing To RISE?

Tuesday, September 28, 2010

by Team Thomas Realtors, Randy & Jenny Thomas

House pricing in Springfield is past the bottom and on the rise.

Historically, interest rates will follow.

If you are a Home Buyer, are you prepared with your home financing?

Have your pre-approval in place, when you write your purchase contract.

You may want to consider "locking" your interest rate, in the event the interest rate goes up.

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Springfield, Missouri Top 10 Markets Most Likely to Appreciate

Sunday, September 19, 2010

by Forbes Magazine

Forbes

Forbes magazine turned to real estate research firm Local Market Monitor to figure out which markets have the greatest likelihood of price appreciation because they offer a mix of jobs weighted toward growth industries.

These are the top markets, the research company concludes:

1. Raleigh-Cary, N.C.
2. McAllen-Edinburg-Mission, Texas
3. Austin-Round Rock, Texas
4. Nashville-Davidson-Murfreesboro-Franklin, Tenn.
5. San Antonio, Texas
6. Colorado Springs, Colo.
7. Albuquerque, N.M.
8. Denver-Aurora-Broomfield, Colo.
9. Springfield, Mo.
10. Indianapolis-Carmel, Ind.

Source: Forbes, Francesca Levy (09/13/2010)

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Is Social Media A Fad?

Tuesday, September 14, 2010

by Socialnomics

Or is it the biggest shift since the Industrial Revolution? This video details out social media facts and figures that are hard to ignore. This video is produced by the author of Socialnomics.

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How the new government HAFA program can help you.

Thursday, September 09, 2010

by Team Thomas, Randy & Jenny Thomas

What is HAFA?

HAFA is the Home Affordable Foreclosure Alternative. It is a government program that provides incentives and rules to financial institutions to allow home owners who cannot continue to make payments on their property to Short Sale their property for less than they owe and to even walk away with up to $3,000 in relocation expenses. In addition, HAFA requires that the lender fully release the buyer from any further obligation.

How can it help me?

HAFA allows for the home owner to retain a real estate agent to list and sell their property. It is in the home owners best interest to employ a Realtor to help facilitate their transaction and handle the paper work. It costs the home owner no extra money and can save time and headaches when dealing with the lender, prospective buyers, and negotiating the contract and coordinating home showings and inspections.

How is it administered?

HAFA requires the submission of documents to initiate the process with the lender and that forms be submitted when a qualified buyer submits an offer. As experts in the Short Sale process we can assist you with the process and again, the best news of all is that it costs you nothing as commissions are paid by the lender.

How do I get more information?

We can answer questions you might have regarding HAFA, the short sale process, or any other Real Estate related questions you may have. Just give us a call or email us at info@TeamRandyThomas.com

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HAFA program

10 Low-Cost Tips to Improve Your Home's Appeal

Wednesday, September 08, 2010

by Team Thomas, Randy & Jenny Thomas

Improving Your House Appeal Tip #1: Refresh the exterior
First impressions count when it comes to selling a home. Most buyers won’t even leave their car if they don’t find the exterior appealing. The best ways to improve your home’s exterior include:
-Repairing and/or replacing trims, shutters, gutters, shingles, mailboxes, window screens, walkways and the driveway.
-Painting siding, trim and shutters and lamp and mailbox posts.
-Pressure washing vinyl siding, roofs, walkways and the driveway.
-Washing windows.

Tip #2: Spruce up the lawn and landscape
Home buyers associate the condition of your lawn and landscaping with the condition of your home’s interior. By improving the outside, you affect buyers’ impression of the entire property. The best ways to enhance the yard include:
-Mowing and edging the lawn.
-Seeding, fertilizing and weeding the lawn.
-Keeping up with regular lawn maintenance by frequent watering.
-Trimming and/or removing overgrown trees, shrubs and hedges.
-Weeding and mulching plant beds.
-Planting colorful seasonal flowers in existing plant beds.
-Removing trash, especially along fences and underneath hedges.
-Sweeping and weeding the street curb along your property.

Tip #3: Create an inviting entrance
The front door to your home should invite buyers to enter. The best ways to improve your entry include:
-Painting the front door in a glossy, cheerful color that complements the exterior.
-Cleaning, polishing and/or replacing the door knocker, locks and handles.
-Repairing and/or replacing the screen door, the doorbell, porch lights and house numbers.
-Placing a new welcome mat and a group of seasonal potted plants and flowers by the entry.

Tip #4: Reduce clutter and furniture
A buyer cannot envision living in your home without seeing it. A home filled with clutter or even too much furniture distracts buyers from seeing how they can utilize the space your home offers. If you have limited storage space, you may want to consider renting a temporary storage unit to place items you wish to keep. The best ways to declutter your home include:
-Holding a garage sale to prepare for your move, getting rid of unnecessary items.
-Removing clutter such as books, magazines, toys, tools, supplies and unused items from counter tops, open shelves, storage closets, the garage and basements.
-Storing out-of-season clothing and shoes out of sight to make bedroom closets seem roomier.
-Removing any visibly damaged furniture.
-Organizing bookshelves, closets, cabinets and pantries. Buyers will inspect everything.
-Putting away your personal photographs, unless they showcase the home. Let buyers see themselves in your home.
-De-personalize rooms as much as you can.

Tip #5: Clean, clean, clean
The cleanliness of your home also influences a buyer's perception of its condition. The appearance of the kitchen and bathrooms will play a considerable role in a buyer's decision process, so pay particular attention to these areas. The best ways to improve these areas include:
-Cleaning windows, fixtures, hardware, ceiling fans, vent covers and appliances.
-Cleaning carpets, area rugs and draperies.
-Cleaning inside the refrigerator, the stove and all cabinets.
-Removing stains from carpets, floors, counters, sinks, baths, tile, walls and grout.
-Eliminating house odors, especially if you have pets.
-Considering air fresheners or potpourri.

Tip #6: Make minor repairs
The small stuff does count, especially with first-time home buyers. Without dismissing the importance of repairing major items such as a leaky roof or plumbing, you do not need to spend money on replacing these items. Instead, focus on the minor repairs that will make your home visually appealing. The best ways to improve your home include:
-Repairing ceilings and wall cracks.
-Repairing faucets, banisters, handrails, cabinets, drawers, doors, floors and tile.
-Caulking and grouting tubs, showers, sinks and tile.
-Adding fresh paint to ceilings, walls, trim, doors and cabinets.
-Tightening door handles, drawer pulls, light switches and electrical plates.
-Lubricating door hinges and locks.

Tip #7: Showcase the kitchen
The heart of any home is the kitchen. If you are going to spend any money on renovations, this is the one area where you will see the greatest return. Even with a modest budget, focusing on a few key areas can make a great difference in getting the asking price for your property. The best ways to showcase the kitchen include:
-Replacing cabinet doors and hardware.
-Installing under-cabinet lighting.
-Replacing light fixtures.
-Replacing outdated shelving with pantry and cabinet organizers to maximize space.
-Baking cookies or cupcakes for a showing, to create a homey smell.

Tip #8: Stage furniture
Furniture placement can enhance the space of your home while giving buyers an idea of how to best utilize the space with their own belongings. Take some time to rethink how different areas in your house could be used. Some ideas to think about include:
-Moving couches and chairs away from walls in your sitting and family rooms to create cozy conversational groups.
-Creating a reading corner in the master bedroom.
-Clearing an empty room to set up a reading space.
-Turning an awkward space into a home office.
-Setting the dining room table with your best china.
-Set wine glasses in front of the fireplace or next to a Jacuzzi tub.

Tip #9: Light up the house
Create a sense of openness and cheerfulness in your home through its lighting. To improve the lighting try:
-Opening shades and drapes to let the sunshine warm and brighten rooms.
-Installing brighter light bulbs in rooms that tend to be dark.
-Adding additional lamps for ambient lighting.
-Turning on all the lights for a showing.

Tip #10: Add fresh touches
You can easily add color and style to your home by adding fresh touches throughout. Some ideas to consider include:
-Placing fresh floral arrangements in the entry and master bedroom.
-Placing bowls of bright-colored fruit in the family room and the kitchen.
-Filling an empty corner with a potted leafy plant.
-Setting new hand soap in the bathrooms.
-Displaying fresh towels near sinks.

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Missouri homebuyer closing costs among nation’s lowest

Tuesday, August 24, 2010

by St. Louis Business Journal

Homebuyers in Missouri pay some of the lowest closing costs in the United States, according to a study by Bankrate Inc.

Missouri was 44th among 49 states, two California areas and the District of Columbia. Misouri’s average origination and title fees on a $200,000 mortgage this year added up to $3,356. Missouri was even lower last year, ranking 47th.

New York topped the charts with $3,741 in average origination and title fees, up from $2,732 last year, when it ranked second.

Researchers picked ZIP codes in the largest cities in each state and asked for closing cost information for a $200,000 loan — a 30-year, fixed-rate mortgage for a borrower with good credit who made a 20 percent down payment.

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Missouri Lower Closing Costs

1614 W McGee, Springfield, MO

Tuesday, August 24, 2010

by Team Thomas, Randy & Jenny Thomas

1614 W McGee, Springfield, MO

1614 W McGee, Springfield, MO 65807
Bed: 3 Bath: 3 Sqft: 2542 MLS: 1013896 NEW PRICE! $129,900.00

Excellent construction for this Walk-Out Basement Home. Features 3 Bedrooms, 3 Baths, fireplace. Large kitchen and dining area. Large storage shed with concrete flooring. Fenced back yard. Great price for home of this quality with walk-out basement.

Features:

Walk-Out Basement
3 Large Bedrooms
3 Bathrooms
Fireplace
Wet Bar
Storage Shed with Concrete Flooring
Fenced Yard
Covered Front Porch

http://www.agentnation.com/vt/2964/

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1614 W McGee Springfield MO

5156 S Nettleton, Springfield, MO

Tuesday, August 24, 2010

by Team Thomas, Randy & Jenny Thomas

5156 S Nettleton, Springfield, MO

5156 S Nettleton, Springfield, MO 65810
Bed: 5 Bath: 3 Sqft: 4013 MLS: 1014165 $379,900.00

Stone Meadow, Gated Community

Spacious, warm, inviting-describe this gated Stone Meadow gem. Intelligent use of space offers flexibility to adapt to your lifestyle. Immaculate 5 bedroom, 3 bath home combines convenience, beauty. Formal dining is steps away from the ultimate kitchen w/maple cabinetry, granite island, built-in desk, hardwood floors, pantry. Cozy hearth room w/see thru gas fireplace. Breakfast nook leads to open deck, patio below. In lower level a massive stone corner fireplace gives dramatic focus. Large family room w/wetbar is ideal for entertaining. 2 huge storage rooms make organization easy. 4 of 5 walk-in closets are cedar lined. Beautifully landscaped lot on quiet cul de sac has a tranquility area. Many upgrades & quality craftsmanship by a top builder-interesting ceiling treatments, 6 ceiling fans, Pella windows-make this home an outstanding value. Oversized 3-car garage. Near pool, tennis. Versatility to please a family large or small. Bring your special style & make it your own!

http://www.agentnation.com/vt/3006/