REALTOR Timo's Blog

8606 N Oregon Ave
Kansas City, MO 64154 

New Lake Front Listing: Huge 1.5 Story 4 Bedroom 3Full Baths 2 Half Baths 3 Car Garage Formal Dining and Living, 2 fire places. Large kitchen with very large Breakfastoom Huge Finished walk out basement with wet bar and Pool table Great Family home, Fishing from your own back yard.

Click Here for details http://8606oregon.asktimo.com

Are you looking to buy a home in greater Kansas City Metropolitan, Missouri and/or Kansas? Here are all homes for sale in KC Metro at your finger tips. Set up your home search by drawing with your mouse your desired geographical area on the map and start instantly receiving what is for sale in that area.

Click Here for you Map Home Search in Greater Kansas City Metropolitan

http://KansasCityMLS.asktimo.com

If you have any questions Ask Realtor Timo

Are you looking to buy a home in greater Kansas City Metropolitan, Missouri and/or Kansas? Here are all homes for sale in KC Metro at your finger tips. Set up your home search by drawing with your mouse your desired geographical area on the map and start instantly receiving what is for sale in that area.

Click Here for you Map Home Search in Greater Kansas City Metropolitan

http://KansasCityMLS.asktimo.com

If you have any questions Ask Realtor Timo

Are you looking to buy a home in greater Kansas City Metropolitan, Missouri and/or Kansas? Here are all homes for sale in KC Metro at your finger tips. Set up your home search by drawing with your mouse your desired geographical area on the map and start instantly receiving what is for sale in that area.

Click Here for you Map Home Search in Greater Kansas City Metropolitan

http://KansasCityMLS.asktimo.com

If you have any questions Ask Realtor Timo

Are you looking to buy a home in greater Kansas City Metropolitan, Missouri and/or Kansas? Here are all homes for sale in KC Metro, Parkville, MO - PlatteCity, MO - Norh Kansas Cy, MO and more at your finger tips. Set up your home search by drawing with your mouse your desired geographical area on the map and start instantly receiving what is for sale in that area.

Click Here for you Map Home Search in Greater Kansas City Metropolitan

http://KansasCityMLS.asktimo.com

If you have any questions Ask Realtor Timo

New Townhome for sale in the Kansas City, Mo 64133 Market

See Details Here

Or

See the Show & Video here

While I was watching this video I read the following question.

http://www.youtube.com/watch?v=qeDp_w3oiqg

"Would a commercial property qualify? It would be my first home as it has two 2 bed/ 1 bath apartments on top and a business on the bottom. I plan on staying there and running my business, while renting the other side out. Would I have to wait 3 years before I can rent the other unit? This question isn't listed on any sites and I dying to know! Its technically not an investment property b/c it will be a primary residence. Would it be considered multifamily?" 

This question is a great one, and I ask my CPA Tim Rhoades here in KC MO.
I hope this will be helpful to you, also do not forget to ask your local CPA as well.

Here is his answer:

"The property would qualify for a credit, may not be the full $8,000.  The cost of the property would have to be divided between business and personal use, if the second apartment is rented, it would not qualify.  The credit would be 10% of the cost of the "residence" part of the property up to $8,000".

Realtor Timo
www.AskTimo.com

Approval letter instead of Pre-approval or Pre-qualifying letter
Last week at a Freddie Mac seminar, I meet a group of Freddie Mac staff. they said that all REALTORS in the St. Louis Metropolitan will only work with buyer that have a 100% Lender's commitment and/or real approval letters. I like that and hope it is real. It is not only a good protection for us REALTORS to work with qualified buyers, it is also a protection for the consumers "Buyer Clients" as well as "Sellers Clients". Just imaging the disappointment and emotions buyers and sellers go through if at the last minute at the closing table, they find out that they can not buy or sell. Or even worst scenario, buyer is under contract with a lender's promises of no prepaid penalties and 6% fixed interest, at the closing table buyer finds out that he will have a 10% APR with $5000 prepaid penalties. What can this buyer do? If buyer rejects to close then chances are to loose the earnest deposit, the inspection costs and the chance to get accused by the seller.
I am wondering what other REALTORS would have to say about this wonderful idea. That is a common real estate practice in Europe.
Timo Yannopoulos
CRS, GRI, e-PRO, AT HOME WITH DIVERSITY

Hello,

The media is reporting a lot of bad news about the real estate industry, but they're neglecting to report for whom it is bad, and for whom it is good.

Certainly we are seeing fewer buyers, lower housing values and longer market times. This hurts two groups of sellers: those who bought at the height of the market and are forced to sell now, and those who are selling their last home and moving to retirement

But there. are two groups for whom this market provides huge benefits; first time buyers and move-up sellers.

• The first time buyer is rewarded with lower entry prices and lower interest rates.
• The move-up seller is rewarded with a net gain by being able to buy at a large discount. The loss you experience on your sale is exceeded by the larger gain on the purchase.

For example, given a 10% reduction in market value, your $400,000 home fall in value to $360,000, but your destination home fell in value from $600,000 to $540,000. At the peak of the market you would've paid an additional $200,000, but now the difference is $180,000. You're $20,000 closer to your next home!

Some buyers, however, are trying to wait until the market bottoms to make their purchase. While an admirable goal, they will find it virtually impossible to achieve. The bottom of the market is not an absolute position. It is a position relative to, and determined by, when the market has gone up. So by the time you know the bottom, you're past it.

It is better in so many ways to purchase based upon your current needs and begin enjoying your new home. The market may bottom beneath your purchase price, but will eventually rise to surpass it. In the meantime you're enjoying your new home

Here are the benefits to buying before the market bottoms rather than after:

• Lower interest rates (they will rise when the market starts rising).
• More inventory (in a rising market your choices are fewer).
• Relaxed pace (a rising market brings buyer competition and multiple offers).
• Time in home (by buying NOW you can ENJOY the home).

If you and your family feel that your life would improve if you made a move, then let's get together and discuss the possibilities. I will analyze your present home's value and the destination options to determine whether you can benefit from making a move in this market.

Sincerely, 

Timo Yannopoulos
CRS, GRI, e-PRO, WHS.
Real Estate Consultant