Mike Kelly Jr. Real Estate Video Channel

It is a work in progress. So check back often.

I have created a Mike Kelly Jr. Real Estate Channel on You Tube.

You can follow the link above to view videos of my listings and and other interesting videos about Hickory North Carolina.

Many sellers feel that they should take their house off the market during the holidays. But you should think twice before making that decision. 

 For most people their homes look the best in the fall and winter.  With beautiful fall decorations in October and November and then Christmas decorations in December, homes are more inviting, warm, and cozy.  People decorate their homes for family members to come and visit. This warm inviting atmosphere can also be appealing to a buyer.  They will be able to imagine themselves spending the holidays with their family in their new home.

 Fall often brings out the more serious looker who needs to find a home right away.  If they are taking time from their busy schedules to look at homes than they are going to be serious buyers.  People do not casually look at houses during this season because they have nothing better to do.  REALTORS® love working with buyers during the fall and winter because they are very goal oriented. Some people need to be in a new home by the end of year and they do not have time to wait around. These buyers are the very reason you should keep your house for sale in the fall and winter.

 There may also be less listings on the market and therefore less competition because many sellers are not willing to stick it out through fall and winter. 

 Many sellers say they want to wait until spring to put their house on the market - but it may not be the best thing. There will be more homes for sale competing with your home, more people who are not serious buyers wasting your time, and you run the risk of fetching a lower price if home values slip.

 Keep your house for sale and maximize your possibility of a sale.

 For  more information visit:  http://www.mikekellyjr.com/

Mike Kelly Jr of CENTURY 21 American Homes and Marti Ward of Wachovia Mortgage will be hosting a First Time Home Buyer Seminar on Monday October 20, 2008 at 7pm at the CENTURY 21 American Homes Office at 2258 US Highway 70 SE (next to the Hickory Furniture Mart).

Come and find out how to take advantage of the $7,500 tax credit the the US Government is offering until June of 2009.   Learn the steps needed to apply for a mortgage, how to buy a bank owned or foreclosed property, and how to get started in buying your first home.

Despite the what you may hear in the news, there is still money available for people to get mortgages.

This is a great time to buy, with interest rates at an all time low and there are plenty of homes to choose from at really good prices.

For more information contact Mike at 828-234-0479 or visit his website at www.MikeKellyJr.com

All are welcome and refreshements will be served.

Did you know that the Federal Government is offering a tax credit of up to $7,500 if you purchase a home between April 9, 2008 and before July 1, 2009?

With interest rates this low, housing prices reasonable and the tax credit so appealing there has never been a better time to be a first time home buyer.

Call me 7 days a week at 828-234-0479 to discuss your options.

For more information check out my website at:  www.MikeKellyJr.com

If home prices dropped by 5%, here is what it would look like if you decided to trade up: 

Home Price = $100,000

Sell at $95,000 = $5,000 Loss

Home Price = $200,000

Buy at $190,000 = $10,000 Savings

The smaller loss at sale will be compensated by greater savings at purchase, resulting in a significant net gain.

Falling home prices are a great opportunity for a savvy homeowners looking to move up.  Even though you home sale price may be lower, the smaller loss at sale can be compensated by greater savings at purchase.

For more information view my website: www.MikeKellyJr.com

I wrote this article for the Hickory Daily Record and was very excited when I opened the paper this morning and saw it.

Guest Commentary

By Michael Kelly Jr.

Published: October 2, 2008

In a recent article in the Hickory Daily Record, a local agent and writer pointed out that all indications and statistics point to the fact that the Hickory area housing market is currently in a buyer's market.

While this may be true, it does not mean that it is necessarily a bad time to buy a home. I want to point out some benefits to the consumer of a buyer's market.

1. Thanks to the recent housing stimulus bill, first-time buyers can receive up to a $7,500 tax credit on purchasing a home. While this credit will need to be paid back over time via taxes, I think this is a wonderful incentive. How great would it be to actually buy your first home and then have up to $7,500 to improve your house?

If budgeted smartly, you could do some very nice upgrades to your home or simply save that money for a rainy day while creating equity in your home as you pay off your mortgage.

2. Since there is quite a bit of inventory on the market, investors might think about buying rental properties. If you purchase them correctly, rental properties can supply a lifetime of income.

There are several ways to calculate the potential profitability of a rental property. If you are new to this process consult a realtor who can help you figure out which properties can be a good investment.

3. Find what you really want. When there is less on the market, you have less to choose from. If there is more on the market, you have more to choose from. How many people would have loved to buy something on the lake in 2005 but had to settle for a lake view because of the lack of inventory in 2005? As of Sept. 28, there are 48 homes listed for sale that are considered to be on Lake Hickory, ranging in price between $237,405 and $3.4 million. As of Sept. 28, there are also 112 single-family homes listed in our MLS as foreclosures. That may sound like a lot, but when you compare it to the 1,819 total single-family homes on the market, it accounts for 6 percent of what is on the market.

One bright thing to note is that although there is more inventory, homes are surprisingly still selling for 96.5 percent of asking price on average.

4. Real estate professionals have more time to help you find what you need. Since things are not selling as quickly, most local real estate professionals have the time to spend with prospective clients to truly assess their needs, and with the growth of the internet consumers have access to a wealth of information helping them make their decision on what to buy. Make sure your realtor is current with the latest technology and can help point you where to go so that you have the information you need to make the best decision.

5. Growth prospects looking better. As reported by the Record in June, there are several companies that have announced plans to create jobs here in the coming years.

• Convergys announced plans to locate a 450-employee call center in the former Joan Fabrics office in Hickory.

• Graystone Ophthalmology and Northwest Oncology opened new medical offices in McDonald Crossing business park off Tate Boulevard.

• Sutter Street, a division of Williams Sonoma, announced in April plans to create 820 jobs in Hickory.

• Target completed grading and shell work at its 1.6 million-square-foot facility in Newton off U.S. 321 and N.C. 10.

Combine that and the fact most of our area is close to Interstate 40, and the U.S. 321 corridor allowing easy access to many other North Carolina cities, signs are pointing to the fact that our best days are ahead of us in the Hickory area. Why not buy now and reap the benefits of our future growth while prices are affordable?

If you are considering any of the above strategies, consult with a local realtor to help you assess your options and figure out your best home-buying strategy.

Michael Kelly Jr. is a Hickory realtor with Century 21 American Homes. Contact him at mkellyjr72@gmail.com or go to www.mikekellyjr.com.