Lenexa Kansas Real Estate Update – September 2009

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


City of Lenexa KS Real Estate Update
Past 15 Days of Lenexa Kansas Real Estate Stats
Type
#
Average $
Avg DOM
Listings Past 15 Days
34 $271,246
Total Active Listings
321
Newest Contracts Written
29 $170,710 85
Newest Sold (Closed)
23 $221,218 133

* 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.

Lenexa KS Real Estate

Lenexa KS Real Estate

Using these past 15 days of market stats to figure the absorption rate in Lenexa Kansas, there’s currently 6.9 months of inventory on the market. The most glaring fact I see here is that the average list price over the past 15 days was $271,246, while the average sales price over the same period was much lower — $221,218. Additionally, the average current list price of the homes that went under contract was an even lower $170,710.

Without a doubt, the average Lenexa home value is higher than the average list price seen over these 15 days ($170,710) and this is a good example of how a 15 day sampling of market activity does not tell the whole story about a real estate community. So take this snap shot with a grain of salt. It may show a pattern forming but you also need to look at month over month and year over year to determine an areas long-term trends. Market conditions in the City of Lenexa will also vary greatly from one area of the city to another, so be sure you take a look at a specific community’s stats – in addition to the general city stats – when making a decision to purchase or sell Lenexa Kansas real estate.  If you want to discuss these stats or obtain specific subdivision stats you may post a reply below or email me directly.

View Past Lenexa KS Real Estate Stats

Lenexa KS Buyer’s Agents

Lenexa KS Listing Agents

View All Lenexa Homes On Kansas City MLS

Posted by Jason A. Brown

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Tell Your Kansas City Realtor To Leave Those Rose Colored Glasses Behind

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Let’s be honest, it’s not all that hard to become a Realtor in Kansas City and in other parts of the country for that matter. Spend a week studying, take the exam and you’re off and running.  That’s how I did it 15 years ago and how I assume most other real estate agents do it as well.  From there though a startling 80% of agents drop out within a year. That means 80% of people who jump in thinking that selling real estate is easy, find out it’s not. The 20% who make it past the first year quickly start to distinguish themselves from each other.  I certainly run my business different from many agents. I’m candid, not wishy-washy. I tell my clients the truth even when it hurts — even when it costs me business. My job is helping guide people in making their real estate decisions and, if I do that well, I’ll close enough transactions to make a living.


Recently I was talking at the water cooler with a fellow agent I respect and we were discussing how rough it is for sellers out there. After eaves-dropping for a while, another agent asked if all we had to share was bad news. I turned to her and asked if she was aware that for the past 12 months, in every one of the primary cities I work, there had been MORE homes coming on the market than home Sold. (Read: even more competition hitting the market for home sellers.)  I shared with her a few of our area market statistics before she interrupted to say that she’d rather look on the bright side of things. Well, I can appreciate that in a person. However if my financial planner gives me advice through rose colored glasses, how does that help me? I guess a pep talk could have me feeling better until my next investment statement arrives in my inbox. You see, I want the TRUTH, even when it hurts.

Speaking of the “truth”, it’s a fact that many home sellers in Kansas City right now want to work with an agent who makes them feel better about their situation. I understand this is a stressful time for many who own real estate and are facing a possible Short Sale, Foreclosure or have had to give up important things in life to keep up with their house payments. But I’ll get out of the business before someone can convince me that a real estate agent’s primary job is to make the client feel better. That perception is ridiculous to me. If I’m selling a home out-of-state, I’d want an agent who works hard for me and who has an in-depth knowledge of the area so they can give me the best possible advice. I want an agent who has statistics to back up their assertions. I want an agent who has the online presence to help me succeed and online tools that simplify the process. I’d want an agent who is organized, easy to communicate with and who understands my goals. But most importantly, I’d want an agent who doesn’t own a pair of rose-colored glasses.

Posted by Jason A. Brown
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Palisade Park Market Statistics * Palisade Park Homes For Sale In Olathe KS

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Checking The Pulse Of The Kansas City Real Estate Market

Palisade Park Subdivision Market Statistics
Palisade Park Is An Olathe KS Home Community

Going back to September 2008 and looking at one full year’s worth of  Palisade Park market stats, there were 43 homes listed for sale. 39 homes were sold and home sale prices in Palisade Park ranged from $172,500 to $312,000 with an average sales price of $213,829.

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 8 Active listings in Palisade Park, there’s 2.5 months of inventory on the market. This is one of the best selling communities in the price range in Olathe Kansas. In our current market, having just 2.5 months of inventory bucks the trend seen in most of our area subdivisions.  It should be noted that the average current list price in Palisade Park is $244,288 and quite a bit higher than the average sales price over the past year ($213,829) in the subdivision.

Palisade Park In Olathe Kansas

Palisade Park In Olathe Kansas

Palisade Park is located in southern Olathe Kansas and is served by the Olathe School District.  If you’re considering a move and would like to discuss these Palisade Park market stats and your specific real estate situation,  please let me know. In the mean time, if you’d like more detailed market stats on the subdivision you’re interested in, please email me or comment on this post below.

View Palisade Park Homes For Sale (updated daily)

Buying A Home In Palisade Park

Selling Your Home In Palisade Park

Posted by Jason A. Brown

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There Are Some Excellent Mid-Sized Parks With Playgrounds In The Kansas City Area

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Checking The Pulse Of The Kansas City Real Estate Market

The larger acreage parks in the Kansas City area get the majority of the attention, but often times it’s a smaller sized park that’s desired to take the kids for an hour or so of playground time or tossing the ball around. If you’re looking for a park with a minimum of a playground area but don’t need a larger park such as Shawnee Mission Park or Longview Lake, here are some other mid-size options in the Kansas City and Johnson County Kansas areas that I’ve checked out in the past. Some of these may even be right there in your “back yard”…

Ad Astra Park in Lenexa KS
Antioch Park in Merriams KS
Blackbob Park in Olathe KS
Black Hoof Park in Lenexa
Electric Park in Lenexa KS

Flat Rock Creek Park in Lenexa
Frontier Park in Olathe KS
Hodge Park in North Kansas City MO
I-Lan Park in Leawood KS
Ironwoods Park in Leawood KS
Lake Olathe in Olathe KS
Loose Park in Kansas City MO
Matt Taylor Park in Lenexa KS
Prairie Center Park in Olathe KS
Sar-Ko-Par Trails Park in Olathe KS
Stoll Park in Overland Park KS
Tomahawk Park in Leawood KS
Two Trails Park in Olathe KS
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Highlands Creek Market Statistics * Highlands Creek Homes For Sale In Leawood KS

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Checking The Pulse Of The Kansas City Real Estate Market

Highlands Creek Subdivision Market Statistics
Highlands Creek Is A Leawood Kansas Home Community

Going back to September 2008 and looking at right at a year of market stats in Highlands Creek, there were 20 homes listed for sale. 11 homes were sold and home sale prices in Highlands Creek ranged from $625,000 to $1,400,000 with an average sales price of $951,382.

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 10 Active listings in Highlands Creek, there’s 10.9 months of inventory on the market. The average current list price in Highlands Creek is $1,200,490 and higher than the average sales price over the past year in the subdivision ($951,382).

Leawood Kansas Real Estate

Leawood Kansas Real Estate

Highlands Creek is located in southern Leawood Kansas and is served by the Blue Valley School District.  If you’re considering a move and would like to discuss these Highlands Creek 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 Highlands Creek Homes For Sale (updated daily)

Buying A Home In Highlands Creek

Selling Your Home In Highlands Creek

Posted by Jason A. Brown

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Leawood Kansas Real Estate Update – September 2009

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


City of Leawood KS Real Estate Update
Past 15 Days of Leawood Kansas Real Estate Stats
Type
#
Average $
Avg DOM
Listings Past 15 Days
44 $501,683
Total Active Listings
381
Newest Contracts Written
28 $460,353 168
Newest Sold (Closed)
17 $495,211 148

* 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.

Leawood Kansas Real Estate

Leawood Kansas Real Estate

Using these past 15 days of market stats to figure the absorption rate in Leawood Kansas, there’s currently 11.2 months of inventory on the market.  This is very high and with more homes coming on the market (44) than selling (17), Leawood  Kansas home sellers could be in for a tough fall.  This is a great time however for Leawood Kansas home buyers who have long wanted to live in the area. There’s a lot of great homes on the market and available at great prices too.

Keep in mind that looking at 15 days of Leawood KS market stats is simply a snap shot of local Leawood real estate activity. Market conditions vary greatly from one Leawood zip code to another and from one subdivision to another. So don’t take this overview of Leawood Kansas real estate activity to be an indication of any particular community within the city. Please let me know when you need specific statistics on your area by commenting on this post or emailing me directly.

View Past Leawood Kansas Real Estate Stats

Leawood Kansas Buyer’s Agents

Leawood Kansas Listing Agents

View All Leawood Homes For Sale On Kansas City MLS

Posted by Jason A. Brown

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Without Title Insurance, Kansas City Home Buyers Would Be Playing Real Estate Roulette

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Checking The Pulse Of The Kansas City Real Estate Market

If you’ve purchased a Kansas City home, you were probably aware that the home transaction included title insurance. But many Kansas City home sellers and buyers vaguely understand it’s importance, how much it costs and who pays for it. Title insurance is a one-time fee paid at the real estate closing and the coverage lasts as long as the purchaser owns the home. Live there 20 years and the title policy is still guaranteed — assuming you don’t refinance the home in the mean time. There would be a new policy issued by a new (or possibly the same) title company if refinancing. In Kansas City, home seller’s pay for title insurance on an adjustable scale based on the sales price of the home. Buyers who are taking out a loan on the home usually pay an additional fee to have the lender covered on the title policy – that fee is usually right around $200. To give you an example on the seller’s side of the transaction, one Kansas City title company is currently charging sellers around  $300 for a $100,000 home and $400 for a $200,000 home.

Why does a Kansas City home seller need to provide title insurance? Because any sane buyer isn’t going to purchase a property that could have a current claim against it – or the dreaded hidden defects or future claims that can rear their head. Think about what could happen if long lost cousin Billy suddenly shows up with a valid interest in a property you inherited and that’s since been sold. The potential possibilities for claims, lawsuits, liens, judgments and other defects are limitless really. It’s such an important matter that long ago my Kansas City Regional Association of Realtors included a title insurance clause in the base real estate sale contract.

There are several large title companies in the Kansas City area and many smaller ones too. The prices charged do vary but generally are close and within $100 for any given price range. So what happens if the title company messes up and there IS some future claim the title company should have known about or has overlooked? Most title policies guarantee the title company will defend you free of charge and ultimately cover you against any losses resulting from settlements involving the claim. There are caps on the amount of losses a title insurance will pay and you can ask your title company that question if you have any concerns. Title insurance losses occur infrequently but when they do they can have devastating consequences for owners without title insurance.

Posted by Jason A. Brown
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Woodland Place Market Statistics * Woodland Place Homes For Sale In Shawnee KS

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Checking The Pulse Of The Kansas City Real Estate Market

Woodland Place Subdivision Market Statistics
Woodland Place Is A Shawnee Kansas Home Community

Going back to September 2008 and looking at about a full year’s worth of market stats in Woodland Place, there were 15 homes listed for sale. 9 homes were sold and home sale prices in Woodland Place ranged from $260,000 to $400,000 with an average sales price of $323,889.

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 6 Active listings in Woodland Place, there’s 8 months of inventory on the market. The average current list price in Woodland Place is $373,817 and higher than the average sales price ($323,889) over the past year in the community.

Woodland Place In Shawnee Kansas

Woodland Place In Shawnee Kansas

Woodland Place is located in central Shawnee Kansas and is served by the Shawnee Mission School District.  If you’re considering a move and would like to discuss these Woodland Place 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 Woodland Place Homes For Sale (updated daily)

Buying A Home In Woodland Place

Selling Your Home In Woodland Place

Posted by Jason A. Brown

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Overland Park Arboretum Offers 300 Acres Of Ecosystem Education and Recreation

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Checking The Pulse Of The Kansas City Real Estate Market


The Overland Park Arboretum and Botanical Garden in Overland Park Kansas offers visitors 300 acres of environmental education and recreational. The arboretum has eight different ecosystems and was designed by the City of Overland Park to keep ecological and environmental issues at the forefront in our area. Take a walk down the trails and you’ll see dogwoods, redbuds, wild natural grasses, 200 species of birds and 75 species of trees.

Well over 3/4 of the Overland Park Arboretum and Botanical Garden is dedicated to preserving the areas natural ecosystems. The rest of the garden is the botanical gardens, a visitors center and a huge conservatory. The area has 5 miles of hiking trails that wind all through the Arboretum & Garden and take you past waterfalls, limestone bluffs, a water garden, a children’s garden and a learning garden, among many others. There’s even two 75-foot bridges spanning Wolf Creek! The trails have varying degrees of difficulty, so be sure to check the Overland Park Arboretum and Botanical Garden Map before heading out.

Posted by Jason A. Brown
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Carriage Crossing Market Statistics * Carriage Crossing Homes For Sale In Leawood Kansas

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

Carriage Crossing Subdivision Market Statistics
Carriage Crossing Is A Leawood KS Home Community

Going back to September 2008 and looking at about a full year’s worth of market stats in Carriage Crossing, there were 11 homes listed for sale. 5 homes were sold and home sale prices in Carriage Crossing ranged from $322,000 to $375,500 with an average sales price of $342,900.

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 5 Active listings in Carriage Crossing, there’s 12 months of inventory on the market.  That’s easy to calculate as there were 5 sales in the past year and there are 5 homes currently for sale – thus a full year of inventory to be sold off. Very promising though is the average current list price in Carriage Crossing is $312,480 and much lower than the average sales price seen over the past year ($342,900) in the community. This is a good indication that area sellers are being aggressive.

Carriage Crossing In Leawood Kansas

Carriage Crossing In Leawood Kansas

Carriage Crossing is located in central Leawood Kansas and is served by the Blue Valley School District. If you’re considering a move and would like to discuss these Carriage Crossing market stats and your specific situation, please email me or post a comment below.

View Carriage Crossing Homes For Sale (updated daily)

Buying A Home In Carriage Crossing

Selling Your Home In Carriage Crossing

Posted by Jason A. Brown

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