It doesn’t make sense why a First Time Home Buyer would buy an Olathe, Kansas Home right now
In this day and time Olathe real estate investors are having a blast. Many will be having a very joyous time this winter. In my 20 years of real estate in Olathe, I haven’t seen investors have this much fun. Why . . . you ask?
Real estate investors in Olathe, Kansas are buying homes at incredible prices and they have been scratching their heads on why first time home buyers have been making it so easy for them. Typically the Olathe real estate investors have had to go to Wyandotte , Grandview and other parts of the city due to the competition in Olathe. Not now and it doesn’t make sense. Maybe first time home buyers are reading too much into the real estate news. I don’t know what the answer is and the real estate investors don’t care. They are just having fun catching some good bargains.
Why should first time home buyers be out in Olathe, Kansas buying homes, you ask?
Lets take an example on an Olathe home I sold recently. The Olathe home was appraised for $243,000 in 2007. A month ago I sold it for $197,000. That is a $46,000 savings. Now the buyer did a no cost refinance and the savings compared to the 6% interest rate over the cost of 30 years is $73,000. Now, like the deal needs to be sweeten, the government is offering a $7500 tax credit.
The savings for this buyer is $126,500. That is over ½ the original value of the Olathe home.
Now with loan limits being increased, interest rates flirting at even lower numbers and the Kansas City Real Estate Stimulus Package, there has never been a better time to be a first time home buyer in Olathe, Kansas.
The only thing I can figure out is that most first time home buyers are not educated to tune out the national news and listen only to the regional real estate stats. The informed consumers are grabbing up the good properties.
If you would like to discover your Olathe, Kansas real estate options, contact the Dowell Taggart Team of Infinity Realty.
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