Patty O'Brian Real Estate Blog » Buyers

There is a first time for everything.

pattyobrian — Wed, 21 Jul 2010 18:47:49 +0000

First time buyers! Are you excited to find a good deal? Or are you afraid of overextending yourself, and or confused by all the conflicting reports about real estate? Well, that might describe any or all of our buyers right now, but those making their very first purchase may feel elevated levels of all these emotions. It helps to have someone offer you some guidance.

Don’t be afraid to make your move now, regardless of what you’ve been hearing about the market. In Columbia, Missouri, with affordability so high, you’ll find a flurry of activity in our market place, and with me as your agent you will not be alone in making the right decision to begin your home search.

Just try not to exercise excessive caution, or you may suffer what has been termed “paralysis by analysis.” As your real estate representative I will present you with all the facts and figures you need, and help you to interpret the data so that you can make a sound choice.

Now is not the time to vacillate about whether prices or interest rates will still drop. There is nowhere to go now but up. If rates rise to 7.5% (still historically low), the home’s price would have to be reduced nearly 20% to offset the difference in monthly payments.

Set aside your uncertainties. Contact me and I will help you determine your financial footing, and show you an inventory of well-suited homes matched to your particular goals.

Hope you are having a great summer and staying cool in this sweltering heat.

A FIRST TIME FOR EVERYTHING

pattyobrian — Tue, 03 Nov 2009 18:37:45 +0000

An article appeared recently in the New York Times that beautifully illustrates the opportunities today’s real estate market offers. A mother working two jobs saved up for a downpayment and managed to buy a large home with a pool for $187,000. Three years ago, that same home had sold for $370,000!

While sellers are still feeling pressure, buyers with stable incomes and good credit histories are beginning to spread a “feel good” vibe throughout the industry. Conditions have literally never been better for first-time buyers. Affordability has seldom been higher and interest rates have hardly been lower. Selection of inventory is vast, and sellers are highly motivated.

As more buyers enter the marketplace, the ripple effect will be felt far and wide. When they purchase a highly affordable foreclosure or “short sale,” they have removed a distressed property from the listings, improving values for other homes in the area. When they buy a “traditional” listing, that in turn sets off a chain reaction whereby the sellers in turn will purchase another home, from sellers who will in turn buy another home, and so on and so on.

You probably get the picture now. As we approach some stability in real estate, all indications are that prices will begin rising again. As the market approaches recovery, don’t miss your opportunity for the buy of a lifetime.

Bank owned Properties are moving quickly in Columbia, MO

pattyobrian — Mon, 17 Aug 2009 02:32:09 +0000

As I watch the stats come in daily from our MLS it is apparent there are many buyers in the marketplace. One of our companies had a bank foreclosure and in one day there were 13 appointments to show the property and 12 offers submitted I was told. Yes, that property is under contract. The potential buyers were investors as well as buyers wanting to owner occupy the property. I was told the buyer who wanted to occupy the home, received the accepted contract. Foreclosed properties are not the only ones hot on the market.

There are some really, really good values for today’s homebuyer. When you have a pre-approval letter in hand from your lender, you will be in a much better position to have your offer seriously considered. And, first time homebuyers, do not forget about the $8,000 tax credit available to you if you close by December 1, of this year. Time is running and interest rates are very low. What a deal!