Missouri Real Estate

How can I find affordable housing and downpayment assistance programs in Missouri?

Buyers searching for affordable Missouri homes for sale and financing programs will be delighted in the complete "one stop" virtual resource center.

Whether you are searching for Missouri new homes or pre-existing Missouri real estate you will be able to quickly and conveniently find out which programs you may qualify for simply by entering the number of occupants, income, county and the type of assistance desired. Affordable housing programs suited to your specific situation will be displayed for each area.

Additional consumer education and information is also available free of charge. It is easy to get started; simply visit www.kchomeprograms.com to begin searching for first-time home buyer financing, repairs, down payment assistance or other incentives that can help you become a homeowner.

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How can I find the best properties?

When it comes to real estate the best way to make money and preserve the value of your investment is to buy right. Late night infomercials selling for hundreds of dollars claim to have a "system" or "insider" information that will allow the average buyer to make millions. The reality is there isn't any "secret to success", just a bit of old fashioned planning and preparation than you can learn on your own. Use these quick tips to find and buy the best Missouri homes for sale or other types of Missouri real estate.

1. Research the Market. Set aside one day a week to begin visiting Missouri new homes and pre-existing Missouri homes for sale in order to get a look at what amenities, features and prices are on the market.

2. Track Prices. Make a regular routine of tracking asking or list prices by visiting www.HomesandLand.com to do a search by city or zip code. Also pay attention to newspaper, classified ads and homes for sale by owner then follow up by obtaining sales data from the county in question.

3. Listen to the Locals. Drive by at different times of the day and during different days of the week to experience the "personality" of targeted areas you have identified as potential targets of interest. Monday mornings, Friday nights, during the day on Saturday or Sunday and a late afternoon during the middle of the week will provide an excellent sample of what to expect. If possible, speak to people living in the area to find out what they like or dislike.

4. Obtain Reports. Obtain crime reports, school data and other information about the area from your real estate agent and the local Chamber of Commerce.

5. Look for Signs. Signs and signals come in many different forms including:

• Signs of improvements in the neighborhood can indicate a transition or revitalization efforts (buy before the prices increase!).
• Sales Signs. A sales sign that has been in place for many months might indicate a motivated seller. Sellers frequently ask more than what a home is worth then later come down on the price when the house has been on the market for a long period of time.
• Rental Signs. Many would-be sellers list a home for rent simply because they have given up on trying to sell. Find out what they need to make the deal work.
• Rent to Own Signs. These are often highly motivated sellers seeking a way to reduce real estate holdings or increase personal returns through creative financing methods.

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What is equity skimming?

Equity skimming is a scam every seller should know about before placing their Missouri real estate on the market.

The Set-Up

The scam works like this; a potential "buyer" pretends to be looking at Missouri homes for sale and approaches you about buying your home. Most sellers are happy to talk to a serious buyer so are often caught off guard as the negotiations slowly change from a traditional sale to one that could leave the seller holding the bag.

How It Works

The "buyer" typically presents different deals with the promise of paying off the mortgage plus a quick closing or large sum of money in exchange for allowing them to move into the property quickly or deed the property over prior to the closing date. Unsuspecting sellers who fall for this scheme are often surprised to find the buyer has rented out the property, collected rent for several months and never made another payment on the property.

The Results

Not only are sellers out of any money they expected from the sale of the home but the house is now in foreclosure with a clouded title that may require thousands of dollars to clear. Worse, tenants often occupy the home leaving the seller unable to occupy the dwelling, unable to sell and liable for the entire mortgage plus much more.

Protect Yourself

One of the benefits with dealing with a reputable real estate agent is to avoid predatory practices like equity skimming from taking place. The old adage "if it seems too good to be true then it probably is" also applies to real estate. Even if you are desperate for a sale, don't fall victim to schemes or scams – it will only make the situation worse. Instead, talk to your mortgage company or financial adviser to find out what your options are - most are more than happy to work with you.

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How do I select a good appraiser?

All real estate, including new Missouri homes or pre-existing Missouri homes for sale require the services of a qualified appraiser. Unfortunately, recent investigations have uncovered unscrupulous appraisers and other dubious practices that contributed to the current real estate problems throughout the nation while placing homeowners at risk.

Learn how to protect yourself and obtain a trust-worthy real estate appraisal with these simple steps.

1. Licensed & Qualified. The first step is to make sure the appraiser is licensed to conduct business in the state of Missouri but don't stop there; find out what type of real estate the appraiser is most experienced with. If you are buying or selling a single family home then it would require someone with a different skill set than that of a condo or multi-unit building. Other niche markets include farm or agricultural property, waterfront, timber or raw land and combined business/residential properties.

2. Compare. Speak to at least three real estate appraisers before making a final decision. Obtain an estimate from each and ask about prior experience.

3. Search. Do your research to make sure there are no pending complaints against the appraiser. Contact the Missouri Division of Professional Regulation at http://pr.mo.gov/appraisers.asp.

4. Apprentice Appraisers. Make sure the appraiser you hire is the one who actually performs the appraisal. Many appraisers employ "Junior" or "Apprentice" appraisers who have a temporary license and are still in the process of completing the certification requirements. Obtain the experience you need by insisting the appraisal be performed by a fully licensed and experienced appraiser.

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What is there to see and do in Missouri?

Take time out while searching for Missouri real estate to see the sights while touring the "Show Me State". Not only will the kids learn a little about their new location but adults will appreciate the chance to explore the surrounding community.

Large Canoes. Missouri was named after the local Indian tribe whose name meant "town of the large canoes". Today, little is left of the large canoes but there is still many a river to explore including the beautiful Missouri River.

Caves and Caverns. Take a Jeep ride through Fantastic Caverns while in Springfield or stop in Stanton to visit Meramec Caverns where Jesse James sought refuge.

President Atchison Monument. Don't remember President Atchison? Don't worry - you aren't alone. David Rice Atchison has the dubious distinction of serving the shortest term of office for the United States Presidency which lasted one day. Take time to commemorate this monumental achievement while visiting Plattsburg.

Nuclear Waste Adventure Trail & Museum. A not to be missed experience, the Nuclear Waste Adventure trail in St. Charles Missouri is a serious look at nuclear weapons production and waste. Free of charge, the Federal government opened this waste tomb when radiation levels were deemed safe. Spanning 45 acres and seven stories tall with a six mile trail, this important monument speaks for itself.

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What trends are here to stay?

All real estate is subject to trends but some are mere fad destined to fade away while others are golden paths to investment success. When looking at Missouri new homes learn how to spot hot trends and avoid faddish temptation.

1. Inherent Value. One easy way to recognize a growing trend is to evaluate the inherent value of the item, product or fashion. For example, going green is here to stay not only because it is the right thing to do but the cost savings and health benefits make it an investment that just keeps giving.

2. Productivity. Another solid performer is those items or technology designed to increase productivity or save time. Technology itself becomes obsolete within two years so focus instead on the infrastructure that allows the upgrades and framework expansion required for tomorrows new technology.

3. Color. Yes, color changes faster than anything else but what you may not know is that you can pick tomorrow’s trendy color today! Make your new Missouri home stands out from the crowd (and look like a genius) by researching the hot color trends with leading color authorities like Pantone.

4. Simplicity. One thing that never goes out of style is simplicity. As Americans seek to get back to the basics a re-emergency of simple yet effective design is making a major mark. The old adage that form follows function is good advice when deciding on floor plans and design.

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Am I made for Missouri?

Thinking about buying Missouri real estate as a vacation home, or perhaps even permanently relocating but not sure it's the right move for you and your family? Take our fun quiz to see if Missouri is made for you. You might belong in Missouri if...

1. "Float Trips" are family fun.

2. You pronounce Missouri with an "ah" at the end.

3. Sitting on a porch during an afternoon thunderstorm in summer is what makes life worth living.

4. You are proud of the fact that Walt Disney is a native "Missourian."

5. You really believe it’s the humidity not the heat.

6. Your idea of traffic is waiting for a tractor to pass.

7. You know Kansas City isn't only in Kansas.

8. The words "dirt track" get you really stirred up!

9. You aren't afraid to say "No" or “Grace" despite whoever is listening.

10. You love family, fun and friends.

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