Historically Low Interest Rates = More House for Your Money

Now is a TERRIFIC time to purchase a home!

BUY NOW, while rates are low.

Call

Randy and Christy Oetken

208-660-0506

Oetken@RealEstate-Browser.com

Want to search the Coeur d’Alene Multiple Listing Service for available properties?

Our website features a No-Registration, No Hassle Search Tool!

Visit

www.RealEstate-Browser.com

Posted on March 12, 2012 at 11:03 am
Randy and Christy Oetken | Category: Home Ownership, Interest, Market Value | Tagged , , , , , ,

Coeur d’Alene, Idaho Market News: Reduced Kootenai County FHA Loan limits?

FHA Loan limits

for Kootenai County

may be reduced from $280,250 to $271,050 after September 30th.

NOW is the time for you to lock in your loan at the higher values and at historic low interest rates!

Let us help you take advantage of historic low interest rates and obtain the home of your dreams.

Let us help you Own The Lifestyle.

Call Randy or Christy Oetken

of  Windermere Coeur d’Alene Realty

208-660-0506

Visit our Website for more Market News on our area

http://www.realestate-browser.com/marketnews.php

Posted on August 16, 2011 at 11:12 am
Randy and Christy Oetken | Category: Around $200,000, Build Your Custom Home, Buyers, Coeur d'Alene, FHA, home, Home Ownership, Idaho, Interest, Kootenai County, Loan, Market News, Mortgage, Our Listings, Price Reduction, Pricing, Real Estate, Save Money | Tagged , , , , , , , , , ,

GOOD NEWS! Pending Home Sales UP 49%

“The price of new homes is fixin’ to RISE
In other words, Beat the Crowd!”

Hello, Friends!

When was the last time you heard THAT???

Today, we thought we’d pass along this VERY GOOD NEWS to give your spirits a better-than-average lift.  Reading graphs like this is such a pleasure…

Pending Home Sales are UP 49% over last year!

Great news – statisically speaking. Market stats (as provided by the CDA Multiple Listing Service) shows that PENDING HOME SALES ARE UP 49% when comparing May and June of 2010 to May and June of June 2011. Right now a very hot segment of the market are those homes selling for less than $200k. If you are thinking of selling…there are plenty of investors in the market.

Call us for more info if you’re interested in Buying or Selling
We’d love to help you find the perfect property under (or over!) $200K

208-660-0506

Oetken@RealEstate-Browser.com

AND THERE’S MORE!

We thought you would like the article we posted a few weeks ago, originally posted in Fortune Magazine, by Shawn Tully, senior editor-at-large.

Real Estate: It’s Time to Buy Again

Forget stocks. Don’t bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing.…(click on this link to read the entire article)

Enjoy!

Randy & Christy

Posted on July 21, 2011 at 2:48 pm
Randy and Christy Oetken | Category: Bank-Owned, Buyers, Coeur d'Alene, Foreclosures, graph, Home Ownership, Idaho, Interest, Investment Properties, Kootenai County, Market News, Market Value, Mortgage, Multiple Listing Service, New Construction, Our Listings, Price Reduction, Pricing, Real Estate, Rental, Save Money, Sell, Sellers, Short Sale, Taxes | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Should I Buy or just Rent? A Cost/Benefit Analysis

You might be surprised to find that a careful Cost/Benefit Analysis still favors BUYING, despite increasing interest rates.  Here’s one scenario:

What Does Opportunity Cost Mean?
Here is a great explanation we found at www.investopedia.com:
1. The cost of an alternative that must be forgone in order to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action.2. The difference in return between a chosen investment and one that is necessarily passed up. Say you invest in a stock and it returns a paltry 2% over the year. In placing your money in the stock, you gave up the opportunity of another investment – say, a risk-free government bond yielding 6%. In this situation, your opportunity costs are 4% (6% – 2%).
 
 
Investopedia Says
Investopedia explains Opportunity Cost
1. The opportunity cost of going to college is the moneyyou would have earned if you worked instead. On the one hand, you lose four years of salary while getting your degree; on the other hand, you hope to earn more during your career, thanks to your education, to offset the lost wages.Here’s another example: if a gardener decides to grow carrots, his or her opportunity cost is the alternative crop that might have been grown instead (potatoes, tomatoes, pumpkins, etc.).In both cases, a choice between two options must be made. It would be an easy decision if you knew the end outcome; however, the risk that you could achieve greater “benefits” (be they monetary or otherwise) with another option is the opportunity cost.

Of course, we realize that every situation is unique. 
We’d love to help you decide if buying is right for you.  Let us help you calculate your own Cost/Benefit Analysis.
 
Contact Randy & Christy Oetken for more information!

208-660-0506

Posted on April 14, 2011 at 2:11 pm
Randy and Christy Oetken | Category: Buyers, Home Ownership, Idaho, Interest, Market Analysis, Market News, Market Value, Mortgage, Our Listings, Pricing, Real Estate, Rental, Save Money | Tagged , , , , , , , , , , , , , , , , , , ,

What is the True Cost of the Interest Rate Increase?

Dear Friends,

It’s probably no surprise that rising interest rates have a significant impact on your pocket book.

But how much of an impact?  The True Cost may shock you!

Consider this:

The average stay in a home is 5 to 7 years

according to the National Association of Realtors®.

Knowing you like to stay informed, we have provided three real-world home buying scenarios in the graphics below.  From these hypothetical comparisons, we hope you can get a better idea of the true cost of the interest rate hikes that are expected in the near future.

Assuming that you remain in your new home for 7 years, it is very clear the HUGE impact of rising interest rates. 

WAITING TO BUY could cost you THOUSANDS of dollars!

(Visit our website to view larger PDF graphics of these three scenarios.)

Home “A” Costs $150,000

At the current interest rate of 4.875%, the monthly payment will be $797.

If you wait until the interest rate rises to 6%,
your monthly payment will increase by $85,
for a total annual increase of $1020!

If you stay in that home for 7 years,
you will be spending $7140 MORE!

What could you do with an extra $7140?

Waiting to purchase this $250,000 home could cost you

$140 per month 
$1680 per year

If you stay in that home for 7 years,
you will be spending $11,760 MORE!

What could you do with an extra $11,760?

 

What could you do with an extra

$21,840?

Thinking of buying?  Now is a great time, if you want to save $$ in your monthly budget, as well as over the life of your potential mortgage.

Are you waiting for a lower purchase price?

The “savings” of a few thousand dollars off the purchase price will actually COST you THOUSANDS when the interest rates rise.

Don’t wait to make your next Real Estate move.

Call Now
to take advantage of
High Inventory and Low Interest Rates!

As experienced REALTORS®, and long-time North Idaho residents, we can provide an impressive list of professionals whom we’ve come to trust over the years.  With our expertise in guiding our clients through all kinds of Real Estate transactions, we are uniquely qualified to help you achieve your real estate goals in 2011!  

We’ll help you navigate through every phase of the process.

Put us to work for you!

Randy Oetken  208-660-0518

Christy Oetken  208-660-0506

Oetken@RealEstate-Browser.com

Posted on April 14, 2011 at 1:43 pm
Randy and Christy Oetken | Category: Acreage, Benewah County, Build Your Custom Home, Buyers, Coeur d'Alene, Commercial, Cougar Gulch, Dalton Gardens, Hayden, home, Home Ownership, Idaho, Interest, Investment Properties, Kootenai County, Lake Coeur d'Alene, Luxury, Market News, Mortgage, Mountaintop Listings, New Construction, Our Listings, Post Falls Listings, Premier Property, Pricing, Rathdrum, Real Estate, Rental, Riverfront Properties, Sandpoint, Save Money, Shoshone County, Silver Valley | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Remembering “Browser”

Our Schnauzer “Browser” was probably the most famous dog in Idaho.  Over the years, we have featured him in our print and electronic advertizing. He’s even been on a billboard! If you had the pleasure of knowing him, you’ll know that he was on of the best Public Relations reps ever!  

Our faithful little buddy passed earlier this year. Although we miss him very much, we are so grateful for the years and blessings of his precious friendship. (In Loving Memory of Browser)

We can hardly forsake his memory especially now. Since he was such a huge part of our Real Estate business as well as our personal lives, we beg your indulgence as we continue doing business in his memory for a little while longer.

When you think of Browsing for Real Estate on the internet, we hope you’ll remember our “best friend” and visit websites that bear his name: www.RealEstate-Browser.com.

Visit Browser’s Facebook Fan Page, “Browser’s BFF’s

Posted on April 7, 2011 at 2:39 pm
Randy and Christy Oetken | Category: Browser, Browser's Friends, Interest, Photographs, Real Estate | Tagged , , , , , , , , , , , , , , , , , ,

Mortgage Interest Deduction: WE SUPPORT IT!

Mortgage Interest Deduction?  OF COURSE!

We’re with Lawrence Yun, of the National Association of Realtors:

It’s a common misperception that the mortgage interest deduction benefits primarily the wealthy, as argued in the Washington Post’s January 1 editorial, “Trim the Excessive Tax Subsidy for Real Estate.”

In fact, the MID actually benefits primarily middle- and lower income families. Sixty five percent of families who claim the MID earn less than $100,000 per year, and 91 percent who claim the benefit earn less than $200,000 per year. As a percentage of income, the biggest MID beneficiaries are younger middle-class families.

The MID helps many families become home owners by reducing the carrying costs of owning a home. The ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home last year with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 5 percent, could save nearly $3,500 in federal taxes when they file next year. That’s real money they can use to pay down other debts, save for their children’s college education, or put away for retirement.

It’s no wonder, then, that most Americans support the MID. In fact, in a recent NAR survey by Harris Interactive of 3,000 home owners and renters, nearly three-fourths of home owners and two-thirds of renters said the MID was extremely or very important to them.

Unlike the very rich, much of whose wealth is tied to the stock market, the wealth of most middle-class American families is connected to their home. Millions of these Americans bought their homes with the understanding that mortgage interest is tax-deductible, and many of them have steadily paid down their mortgages to build equity in their home. Eliminating or reducing the MID would destroy part of this hard-earned equity for all home owners, independent of their tax filing status.

Furthermore, we also need to be mindful that home owners already pay 80 percent to 90 percent of U.S. federal income tax, and this share could rise to 95 percent if the MID is eliminated. Proposals that would remove certain tax benefits in return for lower tax rates just may hold for one or two terms of Congress before the tax rates are changed again. Americans are not naïve; they understand the nature of Washington politics.

For people who don’t have hundreds of thousands of dollars in savings to buy a home outright, tax benefits like the MID help them begin building their futures through home ownership…

We’d like to know what YOU think!  Take our poll!

“Do You Support the Mortgage Interest Deduction?”

Comments are open, and we hope you’ll express your opinion!  We’d love to hear from you.

Posted on January 17, 2011 at 3:48 pm
Randy and Christy Oetken | Category: Home Ownership, I.R.S., Interest, Mortgage, Poll, Real Estate, Save Money, Taxes | Tagged , , , , , , , , , , , , , , , , ,

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