Homes for Sale Manhattan KS | Kyle Powers Local Real Estate Agent ...

REVIEWS

Joe Beery

We had an excellent experience with Kyle Powers in finding and purchasing a home in Manhattan, KS. Kyle was very professional and knowledgeable in many areas which was helpful in finding the exact home for us.

chris niedermayer

Kyle was great and extremely helpful throughout our home buying experience. He is knowledgeable and engaged in local nuances, which was helpful to us as we are from out of the area. Highly recommend!

Rachael Simer

We bought and sold our home with Kyle. It was a quick and painless process he answered all of our questions. Overall a great experience if we ever move back we would use them to buy a house again!

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Today’s Biggest Housing Market Myths: Debunked

Today’s Biggest Housing Market Myths: Debunked

The housing market can be a confusing place, especially with so many myths and misconceptions floating around. Whether you're a first-time homebuyer or an experienced investor in the Manhattan, Kansas area, it's crucial to separate fact from fiction. Today, we’re breaking down some of the most common myths to help you make informed decisions. Myth #1: You Need a 20% Down Payment to Buy a Home One of the most persistent myths in real estate is that you need a 20% down payment to purchase a home. While putting down 20% can help you avoid private mortgage insurance (PMI) and potentially secure better loan terms, it's not a requirement. Many loan programs are available with lower down payment options. For example, FHA loans allow qualified buyers to put down as little as 3.5%, and VA loans, available to veterans, often require no down payment at all. In today’s market, flexibility in down payment options makes homeownership accessible to more people. Myth #2: You Should Always Buy the Worst House in the Best Neighborhood While it’s often suggested that buying the "worst" house in the best neighborhood is a good investment strategy, this approach isn’t one-size-fits-all. It depends on your long-term goals, budget for renovations, and the current market conditions. Renovating a property can be costly and time-consuming, and if you don’t have the resources or desire to take on such a project, it may be better to buy a home that’s closer to your ideal condition, even if it’s not the cheapest option in the neighborhood. Myth #3: Renting is Cheaper than Buying Renting might seem like the cheaper option in the short term, but buying a home can often be more affordable in the long run. When you rent, your money goes toward your landlord’s mortgage, but when you buy, you’re investing in your own future. With each mortgage payment, you’re building equity in a property that could appreciate over time. Additionally, there are tax benefits to owning a home that renters don’t receive. Of course, it’s essential to run the numbers and consider your financial situation, but don’t dismiss homeownership because of this common myth. Myth #4: You Can’t Buy a Home with Student Loan Debt Many believe that having student loan debt disqualifies them from buying a home. While student loans do factor into your debt-to-income ratio, they don’t automatically prevent you from securing a mortgage. Lenders consider your entire financial picture, including your income, credit score, and other debts. If you’re managing your student loans responsibly and meeting your other financial obligations, you may still be able to buy a home. Conclusion Understanding the realities of the housing market can empower you to make better decisions when buying or selling a home. Don't let myths hold you back from exploring your options. If you're ready to start your home-buying journey in the Manhattan, Kansas area, contact us today, and let's debunk these myths together! Haven Real Estate Groupwww.homesforsalemhk.com
Mortgage Trends in Manhattan, KS: What You Need to Know

Mortgage Trends in Manhattan, KS: What You Need to Know

If you're thinking about buying or selling a home in the Manhattan, Kansas area, mortgage rates are likely top of mind. That's because these rates directly impact how much you can afford in your monthly mortgage payment, which is a crucial factor in your planning. Here's what you need to know. What’s Happening with Mortgage Rates? Recently, mortgage rates have been trending downward. While this is encouraging for your homebuying plans, it’s important to understand that rates can be unpredictable. They are influenced by several factors, including the economy, job market, inflation, and decisions made by the Federal Reserve. Even though rates are going down, they can still fluctuate based on new economic data. As Odeta Kushi, Deputy Chief Economist at First American, notes: “The ongoing deceleration in inflation, coupled with the Federal Reserve’s recent indication of potential rate cuts [in 2024], suggests an environment supportive of modest declines in mortgage rates. Barring any unforeseen circumstances and resurgence in inflation, lower mortgage rates could be on the horizon, but the journey towards them might be slow and bumpy.” How Do These Changes Affect You? When mortgage rates change, so does your monthly mortgage payment. Even a small rate adjustment can significantly impact what you pay each month. To illustrate, consider how different mortgage rates would affect your monthly payment for various loan amounts. If you're aiming for a $2,600 monthly mortgage payment, the green portion of the chart below highlights the payment amounts within your range, depending on the current rates (see chart below): Understanding how mortgage rates influence your payments can help you make more informed decisions. How Can You Keep Track of the Latest on Rates? Local real estate agents have the expertise to keep you informed about what's happening with mortgage rates and how it affects you. They can provide tools and visuals, like the chart mentioned, to demonstrate the impact of rate changes on your buying power. You don't need to be a mortgage expert—having a professional by your side who understands the market and can guide you through the homebuying or selling process is key. If you have questions about the Manhattan, Kansas housing market, reach out to a local real estate agent. They can help you make sense of the current trends and navigate the market with confidence. Haven Real Estate Groupwww.homesforsalemhk.com
The Myth of Millennial Homeownership: Can They Really Not Afford Homes?

The Myth of Millennial Homeownership: Can They Really Not Afford Homes?

The narrative that millennials cannot afford homes has become a popular talking point in recent years. The reasons often cited include skyrocketing home prices, crippling student loan debt, and a job market that hasn't fully recovered from the Great Recession. But is it really true that millennials are locked out of homeownership? Let's take a closer look. The Economic Landscape The economic conditions millennials face are indeed challenging. The median home price in the U.S. has increased significantly over the past few decades. According to the National Association of Realtors, the median existing-home price in May 2024 was $396,000, up from $222,900 in 2012. This surge in prices is outpacing wage growth, making it difficult for many to save for a down payment. Student loan debt is another significant barrier. The Federal Reserve reports that Americans owe over $1.7 trillion in student loans, with millennials holding a large portion of this debt. High monthly payments can make it challenging to save for a home, especially when coupled with rising living costs. Changing Priorities It's also worth considering that millennials may prioritize homeownership differently than previous generations. Many millennials value flexibility and experiences over long-term commitments like owning a home. This shift in priorities can be seen in the rise of the "sharing economy," with services like Airbnb and Uber, and the preference for urban living, which often means renting rather than buying. Financial Realities Despite these challenges, the picture isn't entirely bleak. Many millennials are finding ways to enter the housing market. According to a report by the Urban Institute, millennials are buying homes, just later in life. The median age for first-time homebuyers has increased to 33, up from 29 in the late 1970s. This delay can be attributed to the need to pay down debt and save for a larger down payment. Moreover, millennials are leveraging technology to find homes and secure financing. Online platforms and apps have made it easier to compare mortgage rates, search for properties, and even receive down payment assistance. This tech-savviness is helping some millennials overcome traditional barriers to homeownership. Local Markets Matter Real estate is inherently local, and affordability varies significantly by region. While cities like San Francisco and New York are notoriously expensive, many mid-sized cities and rural areas offer more affordable options. For instance, in Manhattan, Kansas, the median home price is significantly lower than the national average, making it more accessible for millennials looking to buy their first home. The notion that millennials cannot afford homes is not entirely accurate. While there are significant economic challenges, many millennials are adapting and finding ways to enter the housing market, albeit later than previous generations. Changing priorities, technological advancements, and regional affordability differences all play a role in shaping millennial homeownership. For those looking to buy their first home, it's essential to stay informed, explore all available resources, and consider all factors, including local market conditions. Homeownership might be more challenging for millennials, but it's far from an unattainable dream. If you're a millennial in Manhattan, Kansas, exploring your options, feel free to reach out. Let's find a way to turn the dream of homeownership into reality. This post aims to provide insights into the millennial homeownership landscape, highlighting challenges and opportunities. Understanding these dynamics can help prospective buyers navigate the market more effectively. Haven Real Estate Groupwww.homesforsalemhk.com

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Real Estate Agent Kyle Powers

Today’s Biggest Housing Market Myths: Debunked

Today’s Biggest Housing Market Myths: Debunked

Mortgage Trends in Manhattan, KS: What You Need to Know

Mortgage Trends in Manhattan, KS: What You Need to Know

The Myth of Millennial Homeownership: Can They Really Not Afford Homes?

The Myth of Millennial Homeownership: Can They Really Not Afford Homes?