Brice

In the Springfield Housing Market – Price is King

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Springfield Price is king

In the Springfield housing market, price is king.  For the longest time you have heard that the most important thing in real estate is location, location, location.  This is not true anymore, in today’s Springfield, MO market it is all about price, price, price.  Location still plays a big factor, but today, in Springfield’s market price is king.  For a free, no hassle home evaluation go to HERE!

When it’s time to sell your home, pricing your home competitively is the most important thing to get right from the beginning.  We all know that prices rose dramatically in the first half of the last decade, then came crashing down after 2007.  Given that, it can be difficult for a seller to reconcile the amount they probably paid with the amount buyers are willing to pay today.  What you owe on a house has nothing to do with its current value.  Pricing your home right from the start is crucial, no matter what kind of market a seller deals with.

Selling a home can be difficult, but it does not have to be impossible.  In fact, it can be relatively “easy” if common mistakes are avoided.  The mistake that is made most by seller’s, relates to the pricing of their home.  The pricing of a home normally determines whether a home will be sold relatively quickly or if it will linger on the market for a long period of time.

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Springfield Housing Market is on the Rise

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According to the Greater Springfield Board of Realtors Multiple Listing Service, the Springfield housing market is steadily selling inventory.  There are more buyers in the market driving this rise in prices.  These statistics are just for the Springfield, MO housing market.

The days on market for June 2015 are lower days on market for June 2014 indicating a strong housing market.  The average list and sales prices are both up for June 2015 over June 2014.  This indicates that prices are on the rise, all are good signs for a strong housing market.  I expect these trends to continue in the near future.

Year to Date Sales Stats

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Buy vs Rent? The Answer is Easy For Most

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Buy vs Rent? For many the answer is simple.

The dilemma to buy vs rent has been a popular question in Springfield since the housing market declined after 2007.  The answer though, will vary depending on the buyer or renter.  In some cases the answer can just be as simple as a lifestyle choice or matter of timing.

Renting can be simpler than owning when it comes to needed repairs.  Eventually all houses will need repairs, as a renter you just have to call the landlord to have the repairs made.  In some cases yard maintenance is included in the rent, so that helps to further cut down on maintenance.  So if ease of maintenance is a priority, then renting might be a good idea.

There are drawbacks to renting also, limited options on paint color or landscaping.  As a renter you also have little control over rental increases at the end of your lease term.  In the Springfield market a 5% increase is not uncommon.  Most leases also include a provision for terminating the lease with 30 days notice in the event the landlord decides to sell the home.  Every month of renting, the payment goes to the owner and you as the renter do not build any equity benefit, the landlord does.

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Golf Course Living in Springfield, MO

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Golf Course homes in Springfield MO

Do you love playing golf?  Have you always dreamed of the golf course living lifestyle?  Living on a golf course definitely offers many unique advantages, and a few disadvantages.

Golf course living has an obvious appeal to anyone who enjoys teeing up on a regular basis. In addition to having your next round of golf right outside your door, living on a golf course often affords you a view of a sprawling green vista.  If you live on a private club, you also have the added advantages of dining and social gatherings just minutes from home.  It can be a nice trade off for the occasional golf ball in the yard.

In the Springfield market, you have several great options for golf course living.  Listed below are some of the top golf course living choices, and some of the amenities for each golf course community.

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Best Return on Investment for Home Projects

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Return on Investment

Which home remodel projects get the best return on investment?  As a Realtor, it’s a question I get asked quite often.  Kitchens and bathrooms steal the renovation spotlight, but are not necessarily the best return on investment when you sell your home.

The trade magazine for builders and contractors, “Remodeling” has been tracking the cost vs value added since 2002.  The projects that consistently rank the highest have four common characteristics:

  • Low maintenance
  • Good quality – but not necessarily the highest
  • Energy efficient
  • Not too costly

The top 5 projects with the best return on investment.

What is the top return on your investment?  Replacing your front door year in and year out, is the winner. 

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3 Second Rule for Home Sellers

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The 3 second rule for home sellers simply means that it only takes 3 seconds to make a first impression.  That is the amount of time you have to impress a potential buyer and get them to want to see the inside.  As a Realtor there have been many times that I pull in front of a house and my client says drive on, based solely on a poor first impression.  This is why Realtors talk about the importance of curb appeal, also known as first impressions.  There are many low cost or no cost ways to greatly enhance a home’s curb appeal.

Clean and visible front door.  The front door should be easily visible and eye catching from the front of the home.  This invites the potential buyer to look inside your home.  The front porch should be clean of debris and clutter.  Prospective buyers will be standing there looking at the porch and door as they wait on their real estate agent to get the key from the lockbox.  For a bold clean look

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For Sale by Owner: 11 Safety Tips for Sellers

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When selling your home “For Sale By Owner,” safety should be a primary concern.  After all, you are allowing complete strangers into your home with no guarantees as to who they are.  Realtors have many processes in place for their own safety, such as talking to a new buyers lender to verify they are actually a buyer or give their office a schedule of the homes they are planning to show.  Even with their safety processes attacks on Realtors are on the rise nation wide.  Below are several safety tips to protect you and your family.

1.  Schedule appointments – Always schedule your appointments in advance.  Do not allow walk up showings, at any hour.  Get a perspective buyers name and number and call them back to set an appointment, this also allows you to verify that the phone number is legit.

2.  Share your Contact List – Make sure to let someone know about your showings

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Tips for Buying a House to Rehab and Flip

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Buying a house to rehab and flip for money can be a great way to make some money but be prepared, it is a lot of work.  Remember the old adage, “If it were easy everyone would be doing it.”

The best advice I can offer is this, you make your money when you buy the house.  If you overpay for the house it makes it very difficult to make a good profit or any profit for that matter.  By buying the house at the right price it allows you to make all the needed repairs and still turn a profit.

A real estate agent can help you find a good property in a good neighborhood and give you a good idea of what you estimate the rehabbed house can sell for.  The real estate agent can help you get the home for the lowest price and favorable terms.

You will need to estimate the rehab costs and holding costs.  Be prepared for the unexpected to come up and add this cost in when estimating your rehab costs, there will always be something.  Inspections by quality professionals can greatly aid you in estimating your rehab costs and help you avoid unexpected costs.  Time for inspections need to be included in any real estate contract you put on a house.  

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Feng Shui

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Adding Feng Shui to your home does not have to be a big complicated process, you can start by adding just a few basic elements.

Feng shui examines how objects and their placement within the home affect the energy flow in your living environment.  The thought is these objects affect your personal energy flow, that in turn affects the success of your personal and professional life.  Feng shui is the simple interaction of people and their environment.  By altering these interactions, feng shui allows you to influence these interacting energies to achieve specific life improvements.

Start by clearing out the clutter from your home. This is an important step in creating harmonious Feng Shui atmosphere in your home. The process off getting rid of old clutter can be very cathartic and help you to lighten the load, so to speak.  Start by clearing the entryway of your home to let the chi flow right in.

The five Feng Shui elements are wood, water, fire, earth, and metal. These elements can also be accomplished with shapes, wood-rectangular, fire-triangular, earth-square, metal-round, water-wavy.  The wood element relates to natural growth and vibrant health.  The fire element brings high energy levels, fuels passion, and sparks creativity.  The earth element helps to generate nourishment, knowledge, and stability in your life. 

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Buying a Rehab House – Tips

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Buying a rehab house can be a big decision.  First you must decide if this is for you to live in or are you rehabbing the house for a profit.  Your approach for an investment is vastly different than rehabbing a house to live in.  Today I will be discussing rehabbing a house to live in, the blog on rehabbing a house for profit will come at a later date.  By buying a house that needs work you can save a lot of money upfront, but be prepared to put in the work.

The next thing to decide when rehabbing a house is whether to live in the house during the renovation or not.  Rehabbing the house without living there is obviously easier, and renovations can be completed quicker.  If you decide to live in the house during rehab, be prepared to live in a mess.

Like all rehab projects, information is key to accurately estimating costs and a budget. Before you purchase the home, it is a good idea to have the home inspected by a professional home inspector, electrician, and a plumber.  This can help you in the long run to avoid

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About Brice

Brice Davis

I have been helping people buy and sell real estate in the Springfield area since 2007.  I would be happy to help you, too.

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Springfield Office

Southwest Missouri Realty

Contact Information

Brice Davis
Southwest Missouri Realty
417.582.2200
3300 S National Ave, Suite 300
Springfield, MO 65807

Phone: 417.693.3254
EMail: [email protected]

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