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Displaying blog entries 151-157 of 157

Not Ready to Buy Right Now... Is This You?

by The Houses By Harlan Team

A Real Estate Agents prospective client said he was not ready to buy right
now...    Is this you?
Provided by Jeff Sislow (Minneapolis) & John Riggins (Hawaii)

Aloha David, 
Thank you for your email. 
You did not mention why you are not in a position to buy at this time. Would you tell me why? 
If it's because you don't think you can afford to buy now, I must advise you that it's less expensive to buy today than it was  3 years ago. Home prices have gone through a market correction after the highs of 2005. Interest rates are at 44 year lows. This past week the 30 year fixed mortgage interest rates ranged between 4.75% and 5.25%. And thirdly, there is an excellent selection which gives you more choices of properties available. 

 There is an old saying, "buy when everyone is selling and sell when everyone is buying." This could not be more true than today.  If it's the news media and what it is saying that is keeping you from buying, when was the last time you saw a reporter who was rich? 

 The following are just a few of the many quotes from the news media over the years: 
 
"The prices of houses seem to have reached a plateau, and  there is reasonable expectancy that prices will decline." -Time  Magazine, 1947. 
 
" Houses cost too much for the mass market. Today's average  prices is around $8,000-out of the reach for two-thirds of all  buyers."-Science Digest, 1948. 
 
"The goal of owning a home seems to be getting beyond the  reach of more and more Americans. The typical new house today costs  about $28,000."-Business Week, 1969. 
 
"You might well be suspicious of 'common wisdom' that tells  you, 'Don't wait, buy now'...continuing inflation will force home  prices and rents higher and higher."-NEA Journal, 1970. 
 
"The median price of a home today is approaching  $50,000...Housing experts predict price rises in the future won't be  that great."-Nations Business, 1977. 
 
"The era of easy profits in real estate may be drawing to a  close."-Money Magazine, 981. 
 
"The golden-age of risk-free run-ups in home prices is gone."  -Money Magazine, 1985. 
 
"Most economists agree...{a home} will become little more than  a roof and a tax eduction, certainly not the lucrative investment it  was through much of the 1980's."-Money Magazine, 1986. 
 
Financial planners agree that houses will continue to be a  poor investment."-Kipplinger's Personal Financial Magazine, 1993. 
 
"A home is where the bad investment is." -San Francisco  Examiner, 1996. 
 
"Home prices experience historic drop."-CNN Money.com, 2007. 

 Each and every negative prediction by the Media was  short-lived. At the time such predictions were made it appeared real  estate would never go up again in value-similar to the way it feels  for many now. The good news is found below. This time is no  different than times past! 
 
If you want to be independently wealthy, you have to do what  the rich do. 
 
"There is an excellent selection of properties in a down market...You can deal with sellers...There is a window of opportunity  only for a limited period of time...The market always comes back and I  have made tons of money from buying in down arkets..."Donald Trump,  2008. 
 
FACT: National real estate values have appreciated. 
* 88% since 1996 
* 340% since 1977 
* 685% since 1969 
* 2650% since 1948 
 
More wealth has been made through real estate than any  other investment. There are significant tax advantages to buying  real estate vs other investments. Besides owning your own home and  the pride of ownership, you can greatly reduce your tax burden by 
writing off the interest and real property taxes from your income.  When become a landlord, you can write off the interest, real property  taxes, depreciation, maintenance fees, repairs and management fees  from your income while having the tenant pay off your mortgage. 
 
Appreciation is significant. Over the past 40 years, Oahu  residential real estate has appreciated an average of 6.5 percent per  year. Based upon past history, it's anticipated that a property  purchased for $200,000 would appreciate to over $1 million in 30 
years, be debt free and produce a significant retirement income (Ask  to see my Wealth Accumulation Chart). 
 
*NOW is the best time to BUY! 
 
INVEST TODAY--RETIRE TOMORROW 
 
Having worked daily in residential sales for the past 31  years, I am an expert at creativity finding ways to finance real  estate. You do not want to miss this window of opportunity to buy  real estate. You do not want to have regrets down the road. If you  are sincerely interested in accumulating wealth, give me a call at  808.674.1111 or cell: 808.371.3930. 
Best wishes, 
John 

John Riggins
REALTOR ABR CRB CRS ePRO SRES TRC

John Riggins Real Estate
91-210 Oaniani Place
Kapolei, HI 96707

 

Sioux Falls Market

by The Houses By Harlan Team

Hopefully, it was a productive and enjoyable weekend for each of you. I know sunshine and a break from the frigid weather does wonders for both body and soul. It’s that glimmer of hope that keeps us moving on through the bleak mid-winter! Enjoy it for now…..

We continue to see daily activity on the national scene with news coming at us regarding home values, rate changes, company consolidations and federal legislative proposals. It doesn’t appear that it will change in the near future either. But regardless of all that, the Sioux Falls market continues to move forward. It isn’t that we live on the Isle of Perfect Real Estate, but we do have a supportive blend of industry, city and state organizations that all serve to give us a steady base that keeps our home values from the drastic falls seen elsewhere.

Tax relief for both individuals and employers is being discussed. How these discussions will finally work out is probably still not quite on the horizon but we all appreciate the efforts being put forth. It will be interesting to see how increases in loan limits will help the average home purchase or refinance in the coming months also. Lenders are telling us about the increase in loan applications for refinancing those loans taken out over the preceding year or two. Rates like we see today are very real attraction for many of us. But if the market is causing you to consider the refinance option, we would also suggest that a move-up purchase may be equally beneficial. We would enjoy the opportunity to visit with you and provide you a professional opinion on your home’s value. Feel free to contact us by either e-mail or phone!

Have a terrific week and we’ll talk to you after Super Bowl Sunday!

Flood Insurance Information

by The Houses By Harlan Team

Click on this link for information about the new flood insurance areas in Sioux Falls.

http://www.siouxfalls.org/Building/information/flood_mgmnt/faqs.aspx

Check Your Furnace!!

by The Houses By Harlan Team

Please Get Your Furnace Checked and Install Carbon Monoxide Detectors

 

A testimonial and a family’s experience from a Christmas email I received this year from our next door neighbor that I would like to share with you.  Please read.

 

Yesterday we had a very frightening thing happen to us here.  Kim and I got up at 6 am to KNWC (our usual.)  The two us started to share as getting ready that neither of us felt very good-strong headaches, dizzy and nauseated.  Kim so much so that we decided he couldn't drive to work until he felt better.  Heidi got up to say goodbye to us before we left, since she was headed back to Orange City later in the day.  She was feeling worse than we were.

 I called the gas company to see if they could come and check the carbon monoxide levels in the house.  We turned off the furnace, opened windows, etc.  Kim stayed at the house and I went on to work.  I thought I would just feel better over a little time.  I continued to feel poorly and even shaky and confused.  I was just telling some nurses at work about how I was feeling when Kim called and said the gas company found a problem with the furnace and the house had fatal levels of carbon monoxide in some of the rooms.  Another hour or two without opening the windows and we would be dead.  Two nurses drove me back home.

 Nate became our designated driver since he seemed to have no effects.  We went to the emergency room where they took our blood levels and treated us with oxygen.  Our blood levels were 15-20 times normal.  After 3 to 4 hours on O2 most the the symptoms disappear. 

 We went back to a cold home, but very grateful.  Over the next few hours the headaches gradually decreased.  Heidi did make it back for her classes today.  Lambert put us and our dog up in a hotel for the night so the furnace can go in today.  The noises coming from the basement, as my cold fingers write this, make promises of heat by tonight.

We have two carbon monoxide detectors here today!

 

Go to our web site http://www.housesbyharlan.com/ServiceList.aspx for a person to check your furnace or Lamberts Heating and A/C 338-1231 who Kim and Yvonne used.

 

Welcome to 2008!

by The Houses By Harlan Team

We are very excited for this next year.  We are planning on a record breaking year in many aspects.  Number 1 we have outdone the downward trends that many markets have had in 2007.  Our average sales price increased from $165,633 in 2006 to $175,856.  That is a 6% increase versus many markets are seeing 10 to 30% decreases. (Now quickly to interrupt your thoughts, this does not mean that all houses have increase 6% in value, it is just as we said our average sales prices).  For more statistics check out our pod-cast in a few days after I get it recorded and it gets posted to our web site.

If you are looking to buy or sell, the next few months could be some of your best opportunity and 2008 definitely is looking very bright.  If you wait for the trees to bud and the flowers to bloom you may miss the best part of the 2008 market for home sales.  Waiting for Spring/Summer could cost you time and money.

Have an Awesome Week!!

 





     
     
 

Discount Points?

by The Houses By Harlan Team

In the midst of the holiday season, we continue to provide the real estate service you have come to expect! This week, we received a question on the wisdom of paying discount points during a refinance or purchase. Great question! Just in case you’re a little uncertain what discount points are, here’s a quick definition.  Each point is 1% of your mortgage amount and is essentially prepaid interest.  These points (or portions thereof) are used to reduce your mortgage note rate. There is no real rule of thumb as to when it’s best to pay or walk away. It really depends on multiple factors such as available cash, the amount of time it takes to recoup the investment, other needed uses for your money and general investment philosophy. Even as I tell you there is no “rule” per se about points, many of my mortgage clients seemed to consider paying the points if the payback would be in the range of 30-36 months or less. It’s up to you to decide what best promotes your specific situation.

For additional information, you might want to take a look at the following links. There is an abundance of information available but these two sites will give you a quick overview regarding paying points and potential benefits. Here you go; www.bankrate.com/brm/news/mortgages/20060126a1.asp and www.mortgagecalculatorsplus.com  and pass on to all.

Have an AWESOME week!

Happy New Year!

by The Houses By Harlan Team

Happy New Year to All!  May you have many blessings in 2008.

Again we have seen good press about our local real estate market versus the national market.  We have seen the number of sales holding steady and the average sales prices increase in 2007.  This is a good indication that the first quarter in 2008 will see an increase in home sales.  With mortgage loan interest rates continuing their decline, this could signal an increase in number of sales and the prices going up for home sales in Sioux Falls.  It's hard to hit the market right, buy my suggestion to anyone interested in buying is to not wait a moment longer.  Thinking that home prices could become even more attractive down the road could be a mistake.

Have a Fantastic Week!

Displaying blog entries 151-157 of 157

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Photo of Solus Real Estate Group Real Estate
Solus Real Estate Group
Ameri/Star Real Estate
5900 S Western Ave
Sioux Falls SD 57108
(605) 274-7273
605-336-9600
Fax: (605) 336-7749

Solus Real Estate Group Specializes in Selling or

Buying Homes and other Real Estate or Property in the Sioux Falls, South Dakota Region.