Monthly Archives: October 2009

Don’t Underestimate The Communication Factor When Choosing A Kansas City Realtor

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Checking The Pulse Of The Kansas City Real Estate Market

Matching up a Kansas City home buyer with a Kansas City buyer’s agent takes more than just choosing an agent who works the area. Same goes for matching up a Kansas City home seller with a Kansas City listing agent.  I can’t say it enough, ALL AGENTS ARE NOT THE SAME. For starters, an agent’s communication skills should be given great consideration. If the client and the agent aren’t able to communicate smoothly and efficiently from the get-go, everyone should prepare themselves for a painful real estate transaction.  I’m reminded of this each time I ask a potential client the biggest objection they had to their previous real estate agent. Usually the answer is poor communication. It’s so true that solid communication is a cornerstone of a successful real estate transaction.


When making initial contact with a real estate agent, do so using YOUR preferred method of communication. If that’s a phone, then call the agent rather than emailing. If you expect the agent to answer his phone and he or she doesn’t, you can move on with your agent search. Personally, I find answering the phone to often be impractical and in some cases would be rude to the client I’m with at the moment. But I understand some may expect their call to be answered and I’m aware of a few agents who advertise “unlike some agents, we answer our phones”. If that’s the type of agent you’re looking for, then leave me a voice mail and I’ll call you back with that agent’s name — there’s a joke in there, but I’m also serious that I’ll give you that agent’s name and I’ll probably even get a referral out of it.  Now getting back to making initial contact with a potential real estate agent, if the agent didn’t answer the phone (and that’s not a show-stopper), then leave a message and see how long it takes to the agent to respond. Whatever length of time it takes the agent to get back with you, expect slightly longer delays once the agent has secured a relationship with you.

For those buyers or sellers who prefer email (or social media) communication to phone, be sure to email the real estate agent with your initial communication. Again, whatever length of time it takes the agent to get back with you, expect slightly longer delays once the agent has secured a relationship with you. Also, irregardless of the type of initial communication you attempt, consider that the agent may intentionally delay their response if the message you’ve left requires some research and/or a thorough response. If you’re just wanting to test out how quickly an agent will respond to your initial message, leave a simple message asking for a reply. 90% of my clients prefer email to voice mail (music to my ears) and that often allows for a quick response via Blackberry – even if I’m working with another client or working on some other task. There certainly are many times that I can respond to an email when responding to a voice mail would be either impractical or impossible.

On a typical day, I handle business from 7 AM until 7 PM. This has always been sufficient for my clients but, for the rare buyer or seller who needs an agent who can communicate later at night, there are agents in my office who can be accommodating in that regards. Again, all you have to do ask and I’m happy to refer you to an agent who fits your needs.  I personally operate with a plan of returning voice mails or emails left before 5 PM the same day. Any urgent messages left between 5 PM and 7 PM are also returned the same day and other messages left after 5 PM are returned the next day, often starting at 7 AM.   Stepping away from my business after 7 PM allows me to maintain a happy home and ensures that I’m fresh for the next day.  In case you’re wondering, I don’t turn into a pumpkin at 7 PM and, whenever necessary, I do communicate after 7 PM — good examples being during ongoing contract negotiations or if a client or an agent gives me notice they need me after 7 PM.

Posted by Jason A. Brown
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Arbor Landing Market Statistics * Arbor Landing Homes For Sale In Olathe KS

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Checking The Pulse Of The Kansas City Real Estate Market

Arbor Landing Subdivision Market Statistics
Arbor Landing Is An Olathe KS Home Community

Going back to October 2008 and looking at about a full year’s worth of market stats in Arbor Landing, there were 15 homes put on the market, 9 homes were sold and home sale prices in the Arbor Landing subdivision ranged from $235,000 to $290,000 with an average selling price of $264,333.

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 Arbor Landing, there’s 4.0 months of inventory on the market. This is a balanced amount of inventory compared to other areas. The average current list price in Arbor Landing is $287,617, which is higher than the average sales price over the past year but not completely out of line.

Arbor Landing In Olathe Kansas

Arbor Landing In Olathe Kansas

Arbor Landing 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 Arbor Landing market stats and your specific situation, please call or shoot me an email at your convenience. I look forward to assisting you with your Arbor Landing real estate needs.

View Arbor Landing Homes For Sale (updated daily)

Buying A Home In Arbor Landing

Selling Your Home In Arbor Landing

Posted by Jason A. Brown

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Lenexa KS Real Estate Update – October 2009

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 Checking The Pulse Of The Kansas City Real Estate Market

City of Lenexa Kansas Real Estate Update
 Past 15 Days of Lenexa KS Real Estate Stats
Type
#
Average $
Avg DOM
Listings Past 15 Days
 34 $238,936
–
Total Active Listings
 301
–
–
Newest Contracts Written
 31 $232,569 135
Newest Sold (Closed)
 21 $230,444 89

* 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 7.2 months of inventory on the market. That’s high and an indication that 300+ homes on the market is too much inventory for the 40 sale per month pace this 15-day period puts us on. The average sales prices are in line however, from the average list price ($238,936) to the average sold price over the past 15 days ($230,444).

The average days on market of the sold homes is 89 days and decent in our current market. However it should be noted that the 31 homes that went under contract took an average of 135 days to do so. Also, looking at 15 days of market stats is a small snap shot of local Lenexa Kansas activity. Market conditions can and do vary greatly from one subdivision to another, so be sure you request that your real estate agent give you the market stats of the specific Lenexa home community that interests you.

View Past Lenexa KS Real Estate Stats

Lenexa KS Buyer’s Agents

Lenexa KS Listing Agents

View All Lenexa Homes For Sale On Kansas City MLS

Posted by Jason A. Brown

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Shawnee Mission Park: Fewer Deer, Fewer Fireworks & More Rumors Of A Confiscated Water Winger

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Checking The Pulse Of The Kansas City Real Estate Market

So what’s the largest park in Johnson County Kansas? It’s Shawnee Mission Park, which is just a few minutes from my home in Western Lenexa Kansas. I’m very fond of this park having spent MANY weekends in the late 1980’s waxing my car, playing football and generally keeping an eye on the girls passing by in cars. Ah, the good old high school years, when cell phones came with 12″ by 12″ carry bags! Rumor also has it that some troublesome kids used a water-winger to launch water balloons off the big park tower for 20 minutes before the park police confiscated the evidence – but that’s just a 20-year-old rumor and there’s no proof that I was anywhere nearby if it did happen.


Shawnee Mission Park

Shawnee Mission Park is a 1,250 acre park located within BOTH the cities of Shawnee and Lenexa — I’ve always found that aspect of the park interesting. It also may have played a role this year in the park not hosting the Fourth of July fireworks show for which it had become famous. There must have been some funding issues and I’m guessing they were related to the lower tax base that many cities are facing in our current economy. I don’t know if one city or the other backed out first or if maybe it was a mutual decision but it was a huge disappointment for many area residents. Maybe they’ll find the funds to make it happen again at some point in the future.

In addition to being the largest park in Johnson County KS, Shawnee Mission Park is the most visited park in the entire STATE. That’s amazing and one of the local allures is the park’s 120-acre lake that can be used for small boats, fishing and sail boarding. The park also has 12 shelters of varying sizes for cookouts and family get-togethers. The area’s nature trails are excellent for viewing the park’s out-of-control deer population. Now if you think I’m going to get off on a tangent on that controversial issue, you’re crazy.  OK, maybe you’re not crazy and all I’m going to say about the matter is that planned deer harvest needs to happen. With the deer population running more and more out of control, a controlled hunt is much better than leaving the deer population to die a prolonged death by starvation. And I’m speaking as a guy who’s never shot a bird or a deer or killed an animal in my life — except maybe a road kill here or there.

Shawnee Mission Park

Shawnee Mission Park

The park also has the popular Theatre in the Park, which this year featured Annie, Jesus Christ Superstar, All Shook Up and Cinderella. As you’d expect, there are many trails running throughout the park, one of the main  ones being Mill Creek Streamway – a winding 11 mile asphalt trail through the forest on the park’s west side.  There is also the South Shore Trail, North Shore Trail and the shorter 0.4 mile Sertoma Woodland Trail. Don’t be surprised to see foxes, turkeys, woodpeckers, cardinals, ducks, whip-poor-wills and the occasional bald eagle. Other special park features include a dog park, an archery range, tennis courts, a radio-controlled airplane field and a beach at the east end of the lake.

Posted by Jason A. Brown
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Wilshire Farms Market Statistics * Wilshire Farms Homes For Sale In Overland Park Kansas

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Checking The Pulse Of The Kansas City Real Estate Market

Wilshire Farms Subdivision Market Statistics
Wilshire Farms Is An Overland Park KS Home Community

Going back to October 2008 and looking at 12 months of Wilshire Farms market stats,  there were 52 homes listed for sale, 33 homes sold and home sale prices in Wilshire Farms ranged from $402,000 to $918,657 with an average sales price of $533,657.

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 26 Active listings in Wilshire Farms, there’s 6.0 months of inventory on the market. That’s quite a bit higher than when we last checked but Wilshire Farms is clearly still a  sought after home community in Overland Park KS. The average current list price in the community is $548,672, which means the current inventory of homes is priced well compared to the average sales price seen during the past year  ($533,657).

Wilshire Farms is located in southern Overland Park Kansas and is served by the Blue Valley School District.  If you’re considering a move and would like to discuss these Wilshire Farms market stats and your specific real estate situation, I look forward to hearing about your real estate objectives.

View Wilshire Farms Homes For Sale (updated daily)

Buying A Home In Wilshire Farms

Selling Your Home In Wilshire Farms

Posted by Jason A. Brown

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Contingent Contracts Stink For Kansas City Home Sellers AND Home Buyers Alike

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Checking The Pulse Of The Kansas City Real Estate Market

I’ve NEVER understood why so many contingent contracts are accepted in Kansas City.  In our current real estate environment, contingent contracts have become much more common too. But more common or not, the fact remains they stink as much as they ever have – for both Kansas City home sellers and home buyers. Kansas City home sellers who are working with any type of defined time frame can not afford to accept a contingent offer. Even if the buyer offered 1% over list price, I would not personally accept a contingent offer that is contingent upon the buyer being able to sell their home (possible exceptions listed later). Why is this? Well, I’m darn glad you asked Random Italicized Voice. Because that would mean putting my complete faith in that buyer being able to sell their current home quicker than I’d be able to find a better, NON-contingent buyer for my home when choosing to move on. Never forget that, as a seller, you have control over the pricing and marketing of your home but NO control over how aggressive the contingent buyer may market and/or price the home they’re trying to sell.

OK, I see what you’re saying, but you can just switch the MLS status to Contingent (rather than Pending) and continue to market your home in hopes of locating another buyer, right? Well you sure are an inquisitive one Random Italicized Voice. You see, the problem is that showings will drop off the moment you switch the status to Contingent. Yes other buyers and buyer’s agents COULD still come see your home, but you need to ask yourself “why would they?” See how I turned that around on you Random Italicized Voice? Even in  a seller’s market, switching the status to Contingent will cause showings to drop off 80%. Don’t ask Random Italicized Voice, that’s just a guesstimate and I don’t have exact facts to support that number. But trust me, I believe I’m being conservative even with the assumption of a seller’s market. Now I dare you to go and try it in a buyer’s market and see what happens. I just walked through my office and asked two agents if they had any listings under contingent contract. They both did and when I asked how many showings they had since the status was switched to pending, they both said NONE.

Ok, so we see that it’s a bad idea for sellers to consider a contingency but that must mean it’s a GREAT idea for Kansas City home buyers, right? You’re forcing me to make this post longer than I planned Random Italicized Voice. The answer to that is maybe, maybe not. IF a seller will consider a contingent offer, you can bet that seller is going to start throwing out demands like: (A) there will be a 72 hour kick out notice should a better buyer come along, (B) the buyer MUST conduct inspections within 10 days (and spend hundreds of dollars in the process), irregardless of whether they’re able to ultimately close on the property, (C) the buyer must have loan approval within 30 days INCLUDING paying for the appraisal to be completed, irregardless of whether buyer is able to ultimately close on the property, (D) the buyer’s current home must be listed with a reputable listing agent/brokerage (absolutely no for sale by owner), (E) the buyer must provide a higher than typical earnest deposit, and last but not least (F) the buyer better not be considering making less than a full-price offer with that contingency.

So in other words, home buyers are advised to NOT make a contingent offer and instead get their current home under contract (and closed if they want absolute peace of mind) before moving on and being able to make a NON-contingent offer on the home they want. Yes, Random Italicized Voice, I realize the home may have sold to someone else in the mean time. That’s life. A wise man once told me, “Don’t fall in love with it until you own it”. Or maybe that was a fortune cookie you got at the China Star Super Buffet . I’m done responding to you Random Italicized Voice.

Note: This article refers to contingencies where a buyer’s current home is not yet for sale, not yet under contract or is under contract but not yet on solid ground. A contingent offer could make slightly more sense under the following exceptions:

Exception 1: the buyer’s current home is (A)  already under contract with a buyer, (B) that buyer already has received their full loan approval including an acceptable appraisal coming in, (C)  that deal already has an accepted Resolution of Unacceptable Conditions in place, and (D) that home has a closing date that works/coincides well for both sale transactions.

Exception 2: if a seller is simply testing the waters and doesn’t care whether the home ever really closes, then a contingent offer may be alright – they just shouldn’t call me to list their home.

Exception 3: if a seller is really desperate with little to nothing to lose by trying it – for example, they’re about to be foreclosed on – then taking the gamble could be a viable last ditch effort.

Exception 4: if a buyer views the home as a one-of-a-kind home, then paying near full-price – or even above full price – may make sense to get a contingent offer through.

Exception 5: if a buyer finds a home priced well below market value then paying full price  – or even above full price – may make sense to get a contingent offer through.

Posted by Jason A. Brown
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Loch Lloyd Market Statistics * Loch Lloyd Homes For Sale In Lock Lloyd Missouri

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Checking The Pulse Of The Kansas City Real Estate Market

Loch Lloyd Subdivision Market Statistics
Loch Lloyd Is A Loch Lloyd Missouri Home Community

Going back to October 2008 and looking at about a full year’s worth of market stats in Loch Lloyd there were 41 homes listed for sale. 10 homes were sold and home sale prices in Loch Lloyd ranged from $258,000 to $1,300,000 with an average sales price of $716,725.

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 30 Active listings in Loch Lloyd, there’s 36 months of inventory on the market. That’s not a misprint, there’s 3 years of inventory on the market in this beautiful upper bracket home community.  The average current list price in Loch Lloyd is $958,357 and  significantly higher than the average sales price ($716,725) seen over the past year in the community.

Loch Lloyd in Loch Lloyd Missouri

Loch Lloyd in Loch Lloyd Missouri

Loch Lloyd is located in the southern Kansas City area and is served by the Belton School District.  If you’re considering a move and would like to discuss these Loch Lloyd 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 the area’s market stats and current conditions to assist our home buyers and home sellers position themselves appropriately in the market.

View Loch Lloyd Homes For Sale (updated daily)

Buying A Home In Loch Lloyd

Selling Your Home In Loch Lloyd

Posted by Jason A. Brown

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Leawood Kansas Real Estate Update – October 2009

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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
 26 $574,863
–
Total Active Listings
 363
–
–
Newest Contracts Written
 18 $308,531 57
Newest Sold (Closed)
 23 $429,886 174

* 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 KS

Leawood KS

Using these past 15 days of market stats to figure the absorption rate in  Leawood Kansas, there’s currently 7.9 months of inventory on the market.  That’s deep into a buyer’s market in Leawood Kansas and the problem is there’s simply too many homes on the market (363) when compared to the number of homes being sold (23 the past 15 days). Setting aside the number of homes for sale and looking at just the past 15 days of market stats , those numbers are a little better — there were almost as many homes sold as homes coming on the market. Also, the days on market of the homes that sold was 174 but the 18 homes that went under contract did so in an improved 57 days. Still, there needs to be more sales to divide into the 363 available homes to make the Leawood real estate market more stable.

The average sales price is also a concern in Leawood KS as the new listings had an average list price around $145,000 higher than the average sales price seen during the same time period. Do keep in mind that looking at 15 days of market stats is a small snap shot of local activity. Market conditions vary greatly from one subdivision to another within Leawood Kansas and you should seek market stats that are specific to the area you are looking to buy or sell real estate.

View Past Leawood Kansas Real Estate Stats

Leawood Kansas Buyer’s Agents

Leawood Kansas Listing Agents

View All Leawood Kansas Homes For Sale On Kansas City MLS

Posted by Jason A. Brown

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Rodeo Clowns, Sara Evans and A Rodeo Monkey On A Dog’s Back

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Checking The Pulse Of The Kansas City Real Estate Market

The American Royal kicked off back in September with the American Royal Parade but the festivities really get under way this week. Kick off the weekend’s events this Thursday at PBR Big Sky in the Power and Light District. They’ll have a mechanical bull riding competition and a drawing for free tickets to the American Royal Pro Rodeo and the after-rodeo concert events. If you haven’t attended the American Royal in the past, the event draws upwards of 80,000 visitors annually and it’s certainly a big-time annual fall event here in the Kansas City area.

Photo 2689

The American Royal Pro Rodeo event is at Kemper Arena this Saturday and Sunday and features the top cowboys and cowgirls in the midwest competing for $150,000 in prizes. If you’re wondering whether there will be rodeo clowns, barbeque, barrel racing and a rodeo monkey riding on a dog’s back, the answers are yes, yes, yes and hopefully.  Then after the rodeo Friday night, Pat Green plays a live concert. On Saturday after the rodeo it’s Kansas’ own Sara Evans  turn to wrap up the evening at the rodeo.  After the shows Friday and Saturday night, the party continues at PBR Big Sky where there’s free entry for those who attended the Rodeo and bring their ticket stub. Or if you’re looking for a bigger dance floor, you could head to Denim and Diamonds or Whiskey Tango for some two-stepping.

Posted by Jason A. Brown
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Highland Crest Market Statistics * Highland Crest Homes For Sale In Lenexa KS

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Checking The Pulse Of The Kansas City Real Estate Market

Highland Crest Subdivision Market Statistics
Highland Crest Is A Lenexa Kansas Home Community

Going back to October 2008 and looking at about a full year’s worth of market stats in Highland Crest, there were 10 homes listed for sale. 3 homes were sold and home sale prices in Highland Crest ranged from $262,500 to $380,000 with an average sales price of $322,500.

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 Highland Crest, there’s 12 months of inventory  on the market. This figure could be misleading as Highland Crest is a desirable home community in Lenexa Kansas. Although not a huge home community, the area features it’s own subdivision pool at the community entrance. The average current list price in Highland Crest is $397,317 and higher than the average sales price over the past year.

Highland Crest In Lenexa Kansas

Highland Crest In Lenexa Kansas

Highland Crest is located in western Lenexa Kansas and is served by the Olathe School District.  If you’re considering a move and would like to discuss these Highland Crest 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 Highland Crest Homes For Sale (updated daily)

Buying A Home In Highland Crest

Selling Your Home In Highland Crest

Posted by Jason A. Brown

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