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What New Zero Interest Rates Mean for Your Mortgages

With interest rates at unprecedented lows, it is increasingly more likely that borrowing costs will be lowered even further on mortgages. This serves as a small silver lining amongst the economic uncertainty Americans are now facing during these tumultuous and ever-changing times.

The Federal Reserve has recently lowered borrowing costs to near zero in a move to counteract the economic shocks from the COVID-19 pandemic. Also unfolding, the 10-year Treasury yield, a key benchmark that influences borrowing costs on houses and auto loans, took a nosedive to historic lows.

Mortgages: Buyers and Refinancers

Mortgage rates have dropped to historical lows as bond yields have fallen, which is a move that could help first-time homebuyers and those who already own, and are looking torefinance. When Treasury yields fall, banks will charge lower interest rates for mortgages. The Federal Reserve announced that it would be cutting its benchmark federal funds rate by 1% to a range of 0% to 0.25%, alongside other measures meant to stimulate the economy.

If you’re considering selling your home in the next few months, contact a neighborhood expert: One of the real estate pros at Brookside Real Estate Company. Call today at (816) 333-3330. Or, stop by our offices in the heart of the Brookside at 9 W. 63rd Street.

 

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435 Magazine Names Brookside One of the “Best Places to Live”

Brookside Real Estate Top Ten Best Zip Codes

Following hot on the heels of the national news media and Real Estate publisher Motovo’s accolades of  Brookside as one of the “Top 10 Best Zip Codes in America, ” the March issue of 435 Magazine is not to be outdone naming Brookside, “One of the Best Places to Live Right Now.”

“We couldn’t agree more,” said Brookside Real Estate broker, Jim Kraus, “I’ve been in the Real Estate business here in Brookside for over 20 years now, and the community continues to astonish everyone with its consistently appreciating home values. I’m not surprised anymore. Everyone wants to live in Brookside. What’s not to love?”

435 Magazine points out, “Not all the great homes are in distant suburbs…In the last few years, these areas have just taken off. Demand is up, but supply is limited.”

More from 435 Magazine:

  • Brookside Real Estate Best Places to Live KC“The Brookside community is the perfect spot for those seeking an older home near some of the best local spots Kansas City
    has to offer. This vibrant community is ten minutes from the Plaza and only a fifteen-minute drive from downtown Kansas City. Everyone wants to live in a small community with slow streets and large lots, and even though some of the homes in Brookside might run a bit pricier, they are the ideal location for those with above-average incomes looking for a neighborhood with character.”
  • “The Kansas City housing market is strong and stable, and in many ways the envy of the housing pundits on both coasts.”
  • The article quotes that the average number of days a home is on the market in Kansas City is about 15 days and expects that number is going to dwindle as Spring Market gets into full swing and the busy summer months hit. Some houses listed in Brookside are even sold within 24 hours.

Spring Market buying and selling can be daunting and feel rushed, but don’t let this discourage you. With over 30 years of professional experience, the agents at Brookside Real Estate have all the tools needed to navigate you through Spring Market madness! If you’re looking for a new place to call home, give us a call at (816) 333-3330, or stop by the Brookside Real Estate office located at 9 W  63rd Street and check out one of Kansas City’s, “Best places to live right now.”

 

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Brookside 64113 Top Ten in the U.S.

The national news media seems to be catching on to what locals have known for some time: Kansas City is a wonderful place to call home.

Forbes recently named Kansas City’s downtown experience in their top 20 list and Huffington Post listed Kansas City in their list of top 5 American cities to keep on your radar. Now, local ZIP Code 64113 (the Brookside area), has been listed by Real Estate publisher Movoto as one of the “Top 10 best ZIP Codes in America.”

Everyone loves a good list, but we like this one in particular for its methodology. The Movoto Top Ten list was created using the U.S. Census’ American Community Survey. The criteria considered were quite analytical:

  • Median Household Income (the higher the better)
  • Unemployment Rate (the lower the better)
  • Average Commute Time (the lower the better)
  • Median Rent (the higher, the more desirable an area)
  • Median House Worth (the higher, the more desirable an area)
  • High School Graduation Rate (the higher, the better)
  • Families Below the Poverty Line (the lower, the better)

While the Brookside area is often recognized for beautiful early twentieth century homes, tall Oak trees, picturesque drives, wide open parks and one-of-a-kind shops; the Census data reveals 64113 is also a leading neighborhood statistically. With a high school graduation rate of 99.53 percent and an unemployment rate of under 3 percent, the 64113 ZIP Code also boasts a whopping average household income of $119,676 and a nearly nonexistent poverty rate. In fact, the Brookside area matches up quite favorably against every neighborhood in the entire country!Brookside Real Estate Neighborhoods

We here at Brookside Real Estate are not in the least bit surprised, we’ve always known that Brookside is both pretty and smart! After all, not only do we specialize in 64113 (Brookside’s primary ZIP), but most of our agents also call this ZIP Code home.

New and exciting developments continue to come to the area. Butch Rigby and other developers have invested much to extend the Brookside neighborhood vibe east of Oak for several blocks down 63rd Street. And the opening of the new Red Door Grill has been a fun new attraction this winter season.

Even pets will love 64113. Not only the wide and picturesque Trolley Trail the area boasts, but also popular neighborhood merchant, the Brookside Barkery and Bath – Kansas City’s leading organic pet food supplier and pet spa!

Is 64113 the next 90210? We’d rather it not, but we still think our neighborhood’s exceptionally likable. Want to see what all the buzz is about? Come check out the area yourself. We know you’ll fall in love with Brookside. And when you do, give us a call here at Brookside Real Estate. Now celebrating our 30th year right here in Brookside, no one is better able to help you find the home of your dreams in one of the top neighborhoods in the country.

Call Brookside Real Estate today: 816-333-3330!