Johnson County Kansas Real Estate Update – September 2009

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Checking The Pulse Of The Kansas City Real Estate Market


Johnson County KS Real Estate Update
Past 7 Days of Johnson County KS Real Estate Stats
Type
#
Average $
Avg DOM
Listings Past 15 Days
596
Total Active Listings
3,869
Newest Contracts Written
401 $242,799 105
Newest Sold (Closed)
185 $232,712 121

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results.  Stats may not be an exact 15 days from date of this post.  DOM = Days On Market.

Johnson County Kansas Real Estate

Johnson County Kansas Real Estate

Using these past 15 days of market stats to figure the absorption rate in  Johnson County Kansas, there’s currently 10.5 months of inventory on the market.  That’s quite a bit of inventory and then more homes coming on the market than going off. But it’s interesting that more than DOUBLE the number of homes went under contract (401) as homes that sold (185) over the same 15 day period. If all those 401 homes made it closing (they all won’t), then the  months of inventory figured on this 15 day period would be a greatly improved 4.8 months of inventory.

Also, looking at 15 days of market stats is just a small snap shot of Johnson County Kansas real estate activity. Market conditions also vary greatly from one city to another and one subdivision to another. Be sure to look at the market stats that detail the precise area in which you’re looking to buy or sell a home. If you need additional information ,please post your request by commenting on this post – or you may email me privately.

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Johnson County Kansas Buyer’s Agents

Johnson County Kansas Listing Agents

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Posted by Jason A. Brown

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Be Sure You Hire A Kansas City Listing Agent Who’s A Full-Time Real Estate Professional

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I’ll bet that more than 3/4 of licensed Kansas City real estate agents are not full-time real estate professionals. I think I may even be conservative in that estimate.  Some time ago I read somewhere around 80% of real estate agents make less than $30,000. That means there are lot of part-time agents running around. I can’t fathom having my wife’s hair stylist manage my retirement plan in her spare time and why anyone would list their most expensive investment with a part-time agent is beyond me. If I’m selling a home in Phoenix, I’d NEVER hire a Phoenix real estate agent who sells real estate part-time. No exceptions to the rule.

Photo 8903

I certainly do understand relatives wanting to help another family member out — and many of us DO have a family member who’s a licensed real estate agent. But, really, unless the agent has a proven track record, choosing an agent simply because they’re a family member (or friend) could lead to hard feelings between family members (or friends). Firing a family member surely can’t be easy!

There are enough Kansas City real estate agents to choose from who are full-time professionals that you shouldn’t have to settle for an agent who doesn’t make selling real estate their number one priority. Think about it, if selling real estate isn’t the agent’s number one priority, then you’re not making selling your home your number one priority.  Taking it a step further, how is an agent who has a day job going to be able to attend the buyer’s inspections and represent the buyer’s best interests? Available to let the appraiser in the home? Available to promptly answer lender questions or the other agent’s questions along the way? Handle contract and inspection negotiations that sometimes take time and drag out? Be able to attend the closing at the title company? Better yet, what happens when the “world is falling apart”, which happens in about 1 out of 10 transactions? I hate telling a client that I need to step aside for a moment to handle a problem with another transaction. But at least I  CAN step away to handle a problem. If your real estate agent has a day job, a night job or a weekend job, then that means you’ve seriously limited your chances at a successful real estate transaction.

Posted by Jason A. Brown
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Summercrest Market Statistics * Summercrest Homes For Sale In Overland Park KS

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Summercrest Subdivision Market Statistics
Summercrest Is An Overland Park Kansas Home Community

Going back to September 2008 and looking at about a full year’s worth of market stats in Summercrest, there were 16 homes listed for sale. 12 homes were sold and home sale prices in Summercrest ranged from $200,000 to $260,000 with an average sales price of $219,839.

Stats pulled from Heartland MLS & deemed reliable but not guaranteed; Check the post date for relevancy; Stats cover approximately 12 months of market activity.

Comparing the current rate of sales over the past year to the 3 Active listings in Summercrest, there’s 3.0 months of inventory on the market. The average current list price in Summercrest is $228,500 and right in line with the average sales price ($219,839) seen in the community over the past year.

Summercrest In Overland Park Kansas

Summercrest In Overland Park Kansas

Summercrest is a strong selling community that is centrally located in Overland Park Kansas. The subdivision is served by the Blue Valley School District.  If you’re considering a move and would like to discuss these Summercrest market stats and your specific situation, I look forward to speaking with you. When representing our client’s best interests, we dig in deep to provide the most accurate and relevent market stats to assist you with your home purchase or sale.

View Summercrest Homes For Sale (updated daily)

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Selling Your Home In Summercrest

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This Weekend Kansas City Will Hold Its Inaugural SportsFest Event

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Kansas City SportsFest 2009 will be SportsFest’s inaugural event and given the wide range of local sports teams they’re supporting, I have to assume there’s a good chance this will become an annual event.  Giving local sports fan  another reason to get together for a cold one with several hundred of their closest friends seems like a can’t miss idea. SportsFest takes place in the Power & Light District in downtown Kansas City and this year’s schedule boasts two full days of sports watch parties…

Saturday (9/12/09)

7:30AM AIDS Bicycle Challenge
9 AM Sport Radio 810 College Game Day Begins – Corner of McFadden’s
10 AM SportsFest Booths and Interactive Exhibits Open
11 AM AIDS Bicycle Challenge Post-Ride Party Begins
11 AM Sport Radio 810 College Game Day Ends
2 PM AIDS Bicycle Challenge Post-Ride Party Ends
3 PM KSU Football Pep Rally
3:30 PM KU Football Pep Rally
5 PM KSU Football Watch Party at McFadden’s
5 PM KU Football Watch Party at Johnny’s Tavern

Sunday (9/13/09)

11 AM Chiefs Ambassadors autograph signing session: Larry Marshall, Ed Budde, Bill Moss and Deron Cherry
12 PM SportsFest Booths and Interactive Exhibits Open
12 PM Chiefs Watch Party Begins – P&L Big Screen
2 PM Tour of Missouri begins and will go by the P&L District 7 times featuring the top riders in the world.

And have I missed something here? Why aren’t the Missouri Tigers listed? Anyhow, if the activities listed above don’t excite you, there’s also the option of a day at the Kansas City Renaissance Festival in Bonner Springs.

Posted by Jason A. Brown
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Heatherstone Market Statistics * Heatherstone Homes For Sale In Olathe Kansas

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Checking The Pulse Of The Kansas City Real Estate Market

Heatherstone Subdivision Market Statistics
Heatherstone Is An Olathe KS Kansas Home Community

Going back to September 2008 and looking at about a full year’s worth of market stats in Heatherstone, there were 15 homes listed for sale. 15 homes were sold and home sale prices in Heatherstone ranged from $170,000 to $272,500 with an average sales price of $219,100.

Stats pulled from Heartland MLS & deemed reliable but not guaranteed; Check the post date for relevancy; Stats cover approximately 12 months of market activity.

Comparing the current rate of sales over the past year to the 2 Active listings in Heatherstone, there’s 1.6 months of inventory on the market. That’s excellent and bucks our current buyer’s market real estate trend. The average current list price in Heatherstone is $244,975 and about $25,000 higher than the average sales price over the past year. Of course, these market stats are general in nature and do not take into account specific parameters of any particular home(s).

Heatherstone In Olathe Kansas

Heatherstone In Olathe Kansas

Heatherstone is great community in northeast Olathe Kansas and is served by the Olathe School District.  If you’re considering a move and would like to discuss these Heatherstone market stats and your specific situation, I look forward to speaking with you. When helping you buy or sell your home, we look forward to representing your best interests.

View Heatherstone Homes For Sale (updated daily)

Buying A Home In Heatherstone

Selling Your Home In Heatherstone

Posted by Jason A. Brown

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Olathe Kansas Real Estate Update – September 2009

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Checking The Pulse Of The Kansas City Real Estate Market


City of Olathe KS Real Estate Update
Past 15 Days of Olathe  Kansas Real Estate Stats
Type
#
Average $
Avg DOM
Listings Past 15 Days
150 $222,097
Total Active Listings
928
Newest Contracts Written
110 $230,532 124
Newest Sold (Closed)
79 $224,530 107

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results.  Stats may not be an exact 15 days from date of this post.  DOM = Days On Market.

Olathe Kansas Real Estate

Olathe Kansas Real Estate

Using these past 15 days of market stats to figure the absorption rate in Olathe Kansas, there’s currently 5.9 months of inventory on the market.  That’s a lot of inventory in Olathe for home buyers to consider.  The days on market on around 4 months on the homes that went under contract the past 15 days. The average sales price is pretty consistent across the recent Active, Pending and Sold homes, which is a good sign that Olathe home seller’s are probably pricing their homes appropriately for our current market.

Looking at 15 days of market stats is a small snap shot of local Olathe KS real  estate activity. Market conditions  will vary from one subdivision to another and sometimes one block to the next. If you want to see additional statistics on your specific community, we can make it happen.

View Past Olathe Kansas Real Estate Stats

Olathe Kansas Buyer’s Agents

Olathe Kansas Listing Agents

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Posted by Jason A. Brown

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Inspection Negotiations Are Just As Critical As The Original Contract Negotiations

Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market

Getting a Kansas City home buyer and home seller to come to terms on a Resolution to the home inspection process can be a daunting task at times. Usually the home inspections I’m involved with – whether representing the buyer or  representing the seller – go just fine. But there’s that 1 out of 10 that seems to get off track. Either the home inspector is an alarmist or would rather cover his butt by calling for three additional inspections by “licensed professionals”, or a buyer or seller have an unrealistic outlook. I ALWAYS take the time to explain to my sellers up front that they’re going to have to open their wallet if a buyer’s inspector finds major structural or mechanical issues with the home — oh, and if a radon test comes in above a 4.0, it’s going to cost the seller upwards of $1,000 to mitigate the radon to below a 4.0 reading. Simply explaining this up front allows a seller to somewhat factor in the possibilities during the original contract negotiations. When representing a buyer, I tell them that they can absolutely ask for every item on the report to be repaired, but the seller has the right to tell them to stick it… well, you know.

Kansas City Home Inspections

Kansas City Home Inspections

Nothing can make an inspection negotiation go haywire like a buyer asking a seller to replace something trivial — like a $1 broken door stop. Yes, I’ve seen that happen. Or how about tightening up a loose towel bar.  I nearly had a deal fall apart over just that. You can’t predict such things and just have to roll with the punches when it happens. To prepare both buyers and sellers, I advise up front that a buyer can ask a seller to correct all, some or none of the items on an inspection report. The seller can of course respond by agreeing to fix all, some or none of the items requested. It’s a complete renegotiation.

I’m also a firm believer that a buyer should never ask for something to be corrected that was blatantly obvious PRIOR to the home going under contract. If the driveway is cracked that should have been factored into the original contract negotiations! Another good example is a mini-retaining wall on a split level home I recently sold. The wall was leaning out  slightly and certainly wasn’t in perfect condition. But anyone with any kind of decent eyesight could see this wall was leaning because it was right in front of you as you walk up to the stairs leading to the front door. Well the inspector properly noted it on his report, as he should have. The problem was when the buyer decided  the seller should pony up to rebuild the wall. Without giving you too much details, I’ll just say the neither myself nor the seller were having any part of that scenario and the buyer quickly backed off.

Posted by Jason A. Brown
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Falcon Ridge Villas Market Statistics * Falcon Ridge Villas Homes For Sale In Lenexa KS

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Checking The Pulse Of The Kansas City Real Estate Market

Falcon Ridge Villas Subdivision Market Statistics
Falcon Ridge Villas Is A Lenexa Kansas Home Community

Going back to September 2008 and looking at about a full year’s worth of market stats in Falcon Ridge Villas, there were 15 homes listed for sale. 8 homes were sold and home sale prices in Falcon Ridge Villas ranged from $236,000 to $477,000 with an average sales price of $333,725.

Stats pulled from Heartland MLS & deemed reliable but not guaranteed; Check the post date for relevancy; Stats cover approximately 12 months of market activity.

Comparing the current rate of sales over the past year to the 7 Active listings in Falcon Ridge Villas, there’s 10.5 months of inventory on the  market. The average current list price in Falcon Ridge Villas is $383,329, which is about 15% higher than the average sales price in the area during the past year.

Falcon Ridge Villas In Lenexa Kansas

Falcon Ridge Villas In Lenexa Kansas

Falcon Ridge Villas is a great maintenance provided Villa community located in western Lenexa Kansas. If you’re considering a move and would like to discuss these Falcon Ridge Villas market stats and your specific situation, I look forward to speaking with you. When representing our client’s best interests, we dig in deep to analyze past market stats, current market stats, prevalent market conditions and, most importantly, our client’s needs.

View Falcon Ridge Villas Homes For Sale (updated daily)

Buying A Home In Falcon Ridge Villas

Selling Your Home In Falcon Ridge Villas

Posted by Jason A. Brown

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Are You Ready For Another Long Season Of Kansas City Chiefs Football?

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This is the time of year for optimism about our Kansas City Chiefs. But frankly, after this preseason, I don’t have any. This team is being torn down and completely rebuilt. I’m not saying that’s a bad thing – long term it probably is – but short term I think we’re in for another long season. I’ll go to at least one Chiefs game to show some local support but this team might win less than 6 games. I’d guess I’ll be willing to give this team just a handful of games before I hit the panic button. That means I potentially have just one home game to get out to see the Chiefs before I conclude another season is over. That’s the Raiders game on September 20th. Note to self: buy tickets on Craigslist today.

It’s not out of the question that the Chiefs could open the season 0-5. But if they can go 2-3 I’ll consider it a great start. The schedule certainly gets easier during the latter part of the season. Now, if the Chiefs do tank again, hopefully our local Big 12 schools are competitive throughout the season. There’s a lot of potential with the Jayhawks, Tigers and Wildcats.  This is the first time in several years I didn’t buy season tickets for Jayhawks football but that was simply a decision made because of work and involvement in my boy’s sports teams. You can bet I’ll be getting out to one or two games in what is shaping up as an incredible offensive Jayhawk football team – we shall see how things turn out.

Posted by Jason A. Brown
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Bentwood Park Market Statistics * Bentwood Park Homes For Sale In Overland Park KS

Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market

Bentwood Park Subdivision Market Statistics
Bentwood Park Is An Overland Park Kansas Home Community

Going back to September 2008 and looking at about a full year’s worth of market stats in Bentwood Park, there were 13 homes listed for sale. 10  homes were sold and home sale prices in Bentwood Park ranged from $192,000 to $300,000 with an average sales price of $262,603.

Stats pulled from Heartland MLS & deemed reliable but not guaranteed; Check the post date for relevancy; Stats cover approximately 12 months of market activity.

Comparing the current rate of sales over the past year to the 3 Active listings in Bentwood Park, there is 3.6 months of inventory on the market. The average current list price in Bentwood Park is $268,300 and perfectly in line with the average sales price within the community the past year.

Bentwood Park In Overland Park KS

Bentwood Park In Overland Park KS

Bentwood Park is located in southwest Overland Park KS and is served by the Olathe School District.  If you’re considering a move and would like to discuss these Bentwood Park market stats and your specific situation, I look forward to speaking with you about the prevalent market conditions and your needs.

View Bentwood Park Homes For Sale (updated daily)

Buying A Home In Bentwood Park

Selling Your Home In Bentwood Park

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