Keller Williams First Time Buyers Study

Earlier this year, Keller Williams Research conducted a study of first time-buyers and here’s a few of the findings:

1. The median age was 28, significantly down from where it was four years ago at 32.
2. Location or Neighborhood was the No. 1 “must-have” for 36% of buyers.
3. 25% saw 5 or less homes before writing an offer, the average buyer saw 10 homes.
4. 2 out of 5 first-time buyers purchased a distressed property.
5. 2 out of 3 sellers paid at least part of the buyer’s closing costs.
6. 1 in 4 had help from their family for the down payment.
   

If you’re interested in learning more about the new tax credit or about homes in your area, please contact Wyatt at www.WyattPoindexter.com or call 405-417-5466.

Keller Williams Realty surpasses Remax in 2008!

Keller Williams Realty Inc., announced last week at its annual convention in Orlando, Fla. that it is now the third-largest real estate franchise in the United States, surpassing RE/MAX® International. “The success of Keller Williams Realty can be directly attributed to the hard work and perseverance of our associates and the soundness of our economic and organizational models,” said Mark Willis, CEO of Keller Williams Realty, Inc. “While others might be looking at this market and seeing fear and uncertainty, we have always approached it as our opportunity to shine and grow. And that mindset has paid off.”

The company has been gaining ground for the last three years, outpacing pervasive downward trends in the real estate industry. From 2006 to 2008, Keller Williams Realty increased its associate count by 52 percent, market share for its offices increased 83 percent and agent gross commission income went up 35 percent. Currently, the company has 679 offices operating in the United States. The company also shared more than $30 million in profits with its associates in 2008 through its company-wide profit sharing program.

“Through profit share, our phenomenal coaching and training and our technology offerings, we are offering agents their own ‘bailout plan’ for this market,” Willis added.

The company also announced that after years of searching for a partnership to provide its associates with affordable health insurance, they are moving forward with a solution.

The soon-to-be-launched Keller Williams Health Providers Program will include options for major medical, limited medical, catastrophic coverage and a separate cancer plan. The health insurance coverage is the first step toward a total wellness program for associates.

“We have always been very aware that as independent contractors, our agents face barriers to obtaining health coverage,” said Mary Tennant, president and COO of Keller Williams Realty. “We know that for many, this new option may alleviate some of the stress that they face in today’s economy. After all, our associates are not just our partners – they are our family.”

Last fall, the company also announced the launch of KW Commercial, a new division of the company dedicated to providing commercial real estate associates with specialized technology, marketing tools and resources. KW Commercial already has more than 220 active brokers across the U.S. and Canada.

“Our growth in the last year and now becoming the third-largest real estate company in the United States was a true team effort and a company-wide win. We are so grateful for all of the leadership and commitment our associates have shown to power through this shift,” added Willis.

About Keller Williams Realty Inc.:

Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with more than 690 offices and 74,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).

Wyatt Poindexter - www.WyattPoindexter.com

Great News for Home Buyers!!!

This is the greatest opportunity we have had in a long, long, time!!! Please remember: a Tax Credit is not a tax deduction. It is a dollar for dollar savings in the total income tax paid.

This provision is a direct subsidy to home buyers. Just think what this means and the opportunities it opens to us.

How big is the first time home buyers' market: about 40% of the buyers nationally!!!! What a golden opportunity for us in Oklahoma with a median house price that is low. This credit is essentially a 10% price reduction on a $80,000 house and a 5% reduction on $160,000 house.

Combine that with the lowest mortgage rates in our lifetime and the opportunity is just mind boggling.

First Time Home Buyer Tax Credit

President Obama just signed the stimulus package. We thought you may want to know how it could benefit you.
This tax credit will apply to First Time Home Buyers and those who have not owned a home in the past 3 years. This tax credit, unlike the previous one, does not have to be repaid. The tax credit is equal to 10% of the homes purchase price up to a maximum of $8,000. It applies to First Time Home Buyers who purchase a home between Jan. 1, 2009 and December 31, 2009. For Single taxpayers with income up to $75,000 and Married taxpayers up to $150,000.
Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.
Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)
Combined with the low interest rates this may be a great time for you to buy!

Wyatt Poindexter
Keller Williams Realty
405-417-5466
www.WyattPoindexter.com