How does the rise in mortgage rates affect YOUR purchasing power?

Are you ready?

Do you know how it will affect you?

Which house would you prefer?

THIS

 

OR THIS?

Are you contemplating purchasing a home?  A lot of buyers make the mistake of only looking at the sale price of a property when deciding to buy a home or vacation home.   In reality, the timing of the purchase  could be even more important.  If you have been on the fence, the time to purchase may be now.   

Consider this……

For each percentage the Federal Reserve raises interest rates, it decreases a buyer’s purchasing power by 9 to 11% (depending on loan amount) – and the Fed’s have given every indication that rates will be going up!  The interest rate you pay on a home  affects you monthly over the life of the loan.

  Below is a graph that gives some great examples of how interest rates affect YOU, the consumer.

Monthly Payment Table for 30 year loan with Interest Rates from 3.500 to 6.000 Percent

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Loan	3.500	3.812	4.125	4.438	4.750	5.062	5.375	5.688	6.000
150000	673.57	700.00	726.97	754.47	782.47	810.97	839.96	869.41	899.33
160000	718.47	746.67	775.44	804.77	834.64	865.04	895.95	927.37	959.28
170000	763.38	793.34	823.90	855.06	886.80	919.10	951.95	985.33	1019.24
180000	808.28	840.00	872.37	905.36	938.97	973.17	1007.95	1043.30	1079.19
190000	853.18	886.67	920.83	955.66	991.13	1027.23	1063.95	1101.26	1139.15
200000	898.09	933.34	969.30	1005.96	1043.29	1081.30	1119.94	1159.22	1199.10
210000	942.99	980.01	1017.76	1056.25	1095.46	1135.36	1175.94	1217.18	1259.06
220000	987.90	1026.67	1066.23	1106.55	1147.62	1189.43	1231.94	1275.14	1319.01
230000	1032.80	1073.34	1114.69	1156.85	1199.79	1243.49	1287.93	1333.10	1378.97
240000	1077.71	1120.01	1163.16	1207.15	1251.95	1297.55	1343.93	1391.06	1438.92
250000	1122.61	1166.67	1211.62	1257.45	1304.12	1351.62	1399.93	1449.02	1498.88

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Below is a table of  potential rate hike probability of increases for the NEAR FUTURE.

BOTTOM LINE… NOW is the time to pull the trigger!

There are lots of steps that go into purchasing a home.

The first step is finding a lender that you are comfortable with and going through the process to determine what your maximum approval amount is for a purchase price.  Buyers should take the time to “shop around” to insure you get the best rate and compare all other costs and fees associated with the loan.  The industry standard of borrowing for a home is no more than 28% of gross income and that’s assuming all debt services are under 36%.  A buyer can help reduce his/her costs by putting 20% down on a property which will eliminate private mortgage insurance.  PMI is insurance that protects the lender from non-payment.

A buyer’s pre-approval amount doesn’t necessarily mean that’s what you want to spend on a property. 

You need to consider your lifestyle and your comfort level.  Does the home you are purchasing need renovations?  Do you have college education ahead?  Do you enjoy vacationing with family?  When you purchase this home are you wanting all new furniture?  Are you planning for retirement?   Where is your comfort level with the loan amount?  As a real estate agent here in Branson MO, I know lots of new home owners want to purchase a boat and additional lake toys.  These questions need to be answered prior to finalizing your maximum loan amount.

Get Yourself A Buyer’s Advocate

It’s also key that you get a buyer’s advocate: a real estate professional who has knowledge of the area in which you are purchasing.  You want someone who will help you navigate the buying process.  They should be able to bring not just knowledge of the area, but listen to what your desires are for your new home and then be able to comb the inventory and produce homes that fit your criteria.

They need to be able to help you understand nuances of the area, for example: septic systems; wells; homeowners and condo association dues; boat slips, HOA’s, COA’s, state and county laws that might affect you.

The agent should have an extensive vendor list to help you during and after purchase; inspectors, roofers, handymen, plumbers, movers, gas companies, electric companies, churches and so much more.  This will help ease the buyer’s transition into a new community.

So choose wisely, interview, make sure your communication styles fit.  You will be spending a lot of time with your agent and you need to trust them to work on your behalf.

Our goal at Table Rock Realty Group is to treat our client’s home as if it was our own.  We know that if we do that, we have provided a higher level of service.

 

Author: Sharol Nuckolls, REALTOR©

Table Rock Realty Group is Different by Design, offering a superior level of knowledge, expertise and complete Concierge Real Estate Services.  We also have a dedicated office manager to best serve our clients.  Call us today if you are looking for property in the Branson, MO or Table Rock Lake areas – or if you just have questions about real estate.  We can even help you find a quality REALTOR© in another community.

Call Sharol Nuckolls @ 417.593.2010 or Liz Chun @ 240.344.4582 today!  You’re invited to search our website @ TableRockRealtyGroup. com or follow us on Facebook or find us on Pinterest, Twitter, Instagram, & Google+.   We look forward to helping you navigate your real estate journey!

 

 

 

 

Branson area Luxury Home on a cliff overlooking the Kings River as it enters Table Rock Lake

Table Rock Lake area home: would you like to live on top of Table Rock Lake?

Additional Luxury Properties on Table Rock Lake

Table Rock Lake Luxury home with Breathtaking views of the mouth of the Kings River

Are you looking for similar luxury homes on Table Rock Lake, follow the link: This custom home has stunning views of the Kings River where it flows into Table Rock Lake and the Ozark country side surrounding you. Truly unobstructed, breath taking and it could be yours!

Table Rock Luxury Lake Home with stunning Ozark views

Would you like to live on top of Table Rock Lake?

This custom home has stunning views of the Kings River where it flows into Table Rock Lake and the Ozark country side surrounding you. Truly unobstructed, breath taking and it could be yours! This custom luxury home has quality construction from top to bottom. The exterior has brick and hardy plank,a sprinkler system, whole house generator, a three car attached garage plus one car detached for workshop or lake toys. This home is truly low maintenance so the new owner can spend time fishing and boating on the Kings River and Table Rock Lake.

Branson area lake view homes for sale with Sunset from lake home deck time

The interior has stunning craftsmanship from the gourmet kitchen that would make any chef smile!

Loaded with custom cabinets, granite counter tops, energy efficient appliances, double oven a breakfast bar and open to the great room and dining to make entertaining friends and family easy. The great room has trayed ceiling, a gas fireplace and access to one of two decks that span the back of the property to take in the stunning views of sunset.

Branson area luxury lake homes with a Gourmet Kitchen and decorator touches

Branson area lake homes with Great Room having access to deck

The master is oversize with tray ceiling, access to deck, walk-in closet, and en-suite master bathroom. There is add bedroom, bath and half, utility room and office on main level. The lower level is a Mecca for a Man Cave, open area with a theater, pool table, darts, table top shuffle board, bar for after lake entertainment. There is also an additional bedroom, bath and oversize hobby room with pull down bed for the unexpected guests, and loads of unfinished storage.

Table Rock Lake homes with a bar area to celebrate with friends and family

Branson area luxury homes that’s ready for game night?

Branson area lake homes- Watch a movie after a long day on the boating

Making memories fishing and boating will definitely be in your future, if you buy this lake property.  The owners have a slip for additional dollars less than a mile away!

Table Rock Lake homes with boating as an option

Making memories fishing and boating will definitely be in your future, if you buy this lake property Author: Sharol Nuckolls

Author: Sharol Nuckolls Call Sharol Nuckolls @ 417-593-2010 or find me on Facebook or Pinterest @ Table Rock Realty Group, follow me on Twitter   or on Instagram @ Mamanuck, Google+ or search for homes @ http://www.tablerockrealtygroup.com/

Memorial Day Weekend on Table Rock Lake

Table Rock Lake in the Branson MO area

Memorial Day 2014 Table Rock Lake in the Branson, MO area.

Just recently Table Rock Lake was ranked one of the Top Ten Lakes for families in the United States. As a real estate agent who lives here, I am fortunate enough to experience it every day. When looking for real estate clients are always talking about “getting the best view” and that is really important. (I know because after a long hard day at work, I wonder on to the back deck and watch the sunset, while other people are glued to a TV.) Equally important for clients who are considering this as their home, is all the lake opportunities.

Another spectacular weekend on the lake, we had wonderful weather 80 degrees, with some quick rain showers that brought beautiful scenery. Table Rock Lake being a CORE lake keeps it’s natural beauty. The Ozark Mountains are all around you with native wildlife and don’t be surprised to see blue heron’s flying over head, foxes playing on the shore line or deer peaking out of the woods.

Table Rock Lake native

There is lot’s to do here for both family & friends.

We have some of the greatest fishing around with large mouth, small mouth and Kentucky bass, catfish, crappie, walleye, perch and kids favorite blue gill. There is definitely something for everyone and they were out in force this weekend. You can find fishing tournaments almost every weekend for those who like to compete.

BIG CATCH ON TABLE ROCK LAKE

This is a great lake for boating, whether your tubing, skiing, wake boarding, house boats or just hanging out on the pontoon or tying up with friends. Your options are endless.

We have lots of options if you’d like to do dinner lake side from Big Cedar, The Landing, The Rock, Pizza Hut and much much more.

Shore line on Table Rock Lake

Table Rock Lake after a rain shower

Last night we took a boat ride at sunset and experienced all of the above and more. Table Rock Lake is an extraordinary place. Come visit and if you need a real estate professional call Sharol Nuckolls @ 417-593-2010 or look for Branson area properties at TableRockRealtyGroup.com or follow me on Facebook or twitter (mammanuck), Google+, Linkedin

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Author: Sharol Nuckolls

Things to think about when purchasing a home with septic system & water wells

Purchasing a home in the Branson area on Table Rock Lake offers you a great lifestyle. Depending on the home you purchase it could involve your first experience with septic systems and water wells. So being prepared and educated and using your real estate professional to help you navigate the purchase will help things go smoothly.

Wells are utilized usually utilized outside the city limits. A well could be community (subdivision), shared (multiple persons) or private (individually owned). The well is cared for by those who are involved. It is important that wells are inspected and maintained on a regular basis to insure for healthy drinking water. Well agreements cover costs, maintenance, etc. For more information on well maintenance and inspection go to Private Ground Water Wells

Just like water wells septic systems are typically used when city services are not available. In Stone County a seller of a home is responsible for obtaining a septic certification. The seller has a qualified septic inspector evaluate the system and ensure the system is in good working condition. If it is not the seller is responsible for making repairs to the system. Not all counties require certification, so I strongly encourage a septic inspection in these counties. Septic systems can be very costly, so it’s very important that it’s in good condition.

A septic system can run from $1,000 – 6,000+ or more depending on the type and size of the system. Following are some simple steps to maximize the life span of your system.  To learn more about septic systems go to EPA’s website 

If you would like more information on cost of installation of a septics go to Zillow’s Blog

Learn to compost- It makes sense both for the environment and for your septic to put less waste in it. Only use your garbage disposal when necessary, almost all things put in a disposal can be composted. (And composting is also great for your flower beds) Finally don’t flush non biodegradable materials down your toilets.
2. Newer systems tend to be leach fields. These systems consist of lines that run through your yard. (these systems actually can help water your yard) but it’s important that you don’t plant or dig in that area. A tree root could actually break a line or you could cut it by using a shovel. These are not inexpensive fixes, so just make wise choices on where to plant and garden.

3. Depending on how much you live in your home (full time vs 2nd home), the number of people living in the home and size the system you will need to have it pumped. (Typically every 2-6 years depending on usage) You can hire a professional service to come out once a year to make sure it’s in good working condition and alert you to when it may need to be pumped. If you’d like more information on septics  go to  Stone County Website

Septic systems work well and when maintained can have a long life. If you have any questions or would like more information you can call me or if your searching for a home in Branson MO and would like a real estate professional: Call Sharol Nuckolls 417-593-2010 or search for homes @ TableRockRealtyGroup.com, or follow me on twitter @Mammanuck or FaceBook

Branson Mo

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Branson Area Rustic Charmer Home with Ozark Mountains as the backdrop

Ozark Mountains are the backdrop of this Branson area home

 Branson Area Rustic Charmer with Room to roam

Is nature calling?  The Ozark Mountains is the backdrop for this rustic charmer.  This home sits on 6 plus acres of rolling hills within minutes of the Cape Fair Marina to launch a boat.  The home is surrounded by rock planters with beautiful hosta, hydrangeas, phlox, roses and other perennial flowers and easy to care for with the irrigation system.

The home has lots of character; brick front and hardy backer siding & a brick front porch with rustic beams & shutters to sit and enjoy the day or wait for friends.

This luxury property boats multiple living spaces, on the main level the Great room has a custom mantle with a see-thru fireplace surrounded by slate, tray ceiling with indirect lighting, French door access to patio and open to dining area and kitchen.  There is also an additional sitting room to retire and read a book or pay bills in desk alcove or watch a fishing show, HGTV or Sunday night football.

Custom Knotty Alder Cabinetry, Stainless Steel, Large Pantry and much more

 Branson area Chef’s Kitchen

The gourmet kitchen will inspire any cook, with it’s knotty alder cabinetry w/ slide-out drawers, 2 large corner lazy susan’s, walk-in pantry w/ custom door, halogen under/above counter lighting, all Jenn-Air stainless steel appliances, modern pendant lights over breakfast bar, corian counters with integrated sink, tile backsplash and gorgeous hand scraped wood floors that run through dining area.

The Dining area has a custom built in sideboard/china cabinet for additional storage and French doors giving you additional access to patio.  Lake parties should be often and they will definitely spill out on the oversize screened in patio, where your guest will enjoy the best of the Ozark countryside and the resident wildlife.  You will find it hard to leave the serenity of the birds singing, dogwoods blooming and deer grazing in your backyard.

The spacious master suite is on the main level with a sitting area w/ fireplace, tray ceilings, walk-in closet, access to patio and a spa like bathroom with custom cabinetry & jetted tub.  Bubble baths & relaxing music with candlelight will set the mood but this master bath will warm the heart of any woman.

The upper level has oversize guest/retreat bedroom with ¾ bathroom that overlooks one of the perennial gardens.  Your guest can retire to this area after four wheeling or a day on the lake for privacy.

This homes lower level has two additional bedrooms, full bathroom, workout room, multiple storage rooms, large cedar lined closet, access to patio, and a oversize family area with built in desk and currently a quilters dream room and additional sitting area.

Enjoy the scenery

Branson area screened in patio, bring your coffee and enjoy the serenity & view

The back patio is expansive for barbecues or after dinner drinks options are truly endless.  There is quality construction throughout the home including; whole house generator-propane, intercom, security system, dual zoned HVAC which is dual fuel for back-up, whole house water filter, dual water heaters, water softener, Anderson doors and windows, 36” solid interior doors, gutter guards, stamped/stained concrete driveway and porch and an over sized two car garage.  The property also boasts a massive RV barn/workshop, which is insulated and heated that has lots of room for lake toys.  This wonderful property could be your retreat from city life or your primary residence.

Ultimate Man Cave/RV Barn/Shop near Branson MO

Author:  Sharol Nuckolls

Similar Homes in Cape Fair, MO

Are you looking for a real estate professional to help you sell or purchase a home?  Let Table Rock Lake Realty Group help you realize your dream.  Call/text  Sharol @ 417-593-2010 or email sharol.nuckolls@gmail.com, follow me on twitter @ mamanuck or look me up on Linked in or FB

Branson area Rustic Charmer Home with Ozark Mountains as the Backdrop

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