Checking The Pulse Of The Kansas City Real Estate Market
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Posted by Jason Brown
Monthly Archives: October 2011
November 2011 Events In Kansas City — Welcome To The Jungle
Checking The Pulse Of The Kansas City Real Estate Market
If you are moving to the Kansas City area, you might be wondering about our area’s amenities. Though many parts of Kansas City, Overland Park Kansas and the surrounding areas have a small town feel, don’t be fooled. Kansas City has big city amenities and tons of events to keep you busy. Looking for something to do this November? Here’s a few of the events going on this month…
11/4/11 – Tesla
11/6/11 – Kansas City Chiefs vs Miami Dolphins
11/11/11 – Veteran’s Day Memorial
11/12/11 – Guns N’ Roses
11/13/11 – Kansas City Chiefs vs Denver Broncos
11/18/11 – Gary Allan
11/22/11 – CBE College Basketball Classic
11/24/11 – Country Club Plaza Lighting Ceremony
11/25/11 – David Cook
11/26/11 – Kansas Jayhawks vs Missouri Tigers at Arrowhead
11/27/11 – Kansas City Chiefs vs Pittsburg Steelers
11/28/11 – Jay-Z & Kanye West
11/29/11 – Kid Rock
These are just a few of the events around Kansas City during the month of November and you can find more at this Kansas City events calendar.
Posted by Jason Brown
Parkwood Hills Market Stats ~ Parkwood Hills Homes For Sale In Olathe KS
Checking The Pulse Of The Kansas City Real Estate Market
Parkwood Hills Community Market Stats
Parkwood Hills Is A Subdivision In Olathe KS
Looking over the Parkwood Hills market stats dating back a year to October 2010, 21 homes were listed for sale and 17 homes were Sold (closed) over the same 12-month period. The average sales price in Parkwood Hills was $214,353 and the home community had sales prices that ranged from a low of $192,000 to a high of $236,500.
Comparing the 3 Active homes for sale in Parkwood Hills to the past year’s sales rate in the home community, there’s 2.1 months of inventory on the market. This amount of inventory indicates a rare seller’s market in today’s real estate market. Parkwood Hills remains solid and the average list price of $219,950 is perfectly in line with average sales prices the past 12 months in the community. Parkwood Hills is a popular Olathe Kansas subdivision and located near parks, dining and shopping amenities in Olathe.
Parkwood Hills In Olathe Kansas
Parkwood Hills is located in southeast Olathe Kansas and served by the Blue Valley School District. There’s approximately 219 homes in Parkwood Hills and many of the homes in the community were built from 1996 to 2000. If you’re planning to buy or sell a home in Parkwood Hills or in another community in the surrounding Olathe area, my group can guide you through the real estate process.
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Posted by Jason Brown
Olathe Kansas Real Estate Update – October 2011
Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Statistics On Olathe Kansas
15 Day Glance At The Olathe KS Real Estate Market
After calculating the absorption rate over the past 15 days in Olathe Kansas, we find the city has 6.6 months of inventory currently on the market. This is a reasonable volume of homes for sale in Olathe Kansas yet still high enough to indicate the presence of a buyer’s market. Don’t overlook that, for the first time in a long time, the average sales price the past 15 days ($247,902) was higher than the average new listing to come on the market ($240,403) over the same 15-day period in Olathe.
| Type | # | Average $ | Avg DOM |
| Listings Past 15 Days | 87 | $240,403 | – |
| Total Active Listings | 886 | – | – |
| Newest Contracts Written | 55 | $234,692 | 140 |
| Newest Sold (Closed) | 67 | $247,902 | 162 |
* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.
The average price of the homes that went under contract the past 15 days was solid at nearly $235,000. This is all promising news for Olathe home sellers as we head into what is traditionally the slow time of year for home sales. If you’re planning to buy or sell a home in Olathe Kansas, my group can provide you expert representation through the real estate process. Here’s info about how we can assist you with selling your Olathe KS home or with buying an Olathe KS home. Please don’t hesitate to contact us with any questions!
Olathe Kansas Relocation Information
Search Olathe Kansas Homes For Sale
View Additional Real Estate Stats On Olathe
Our Olathe Kansas Buyer’s Agent Services
Our Olathe Kansas Listing Agent Services
Posted by Jason Brown
Data Indicates There Could Be 4 Million More Foreclosure Listings On The Way
Checking The Pulse Of The Kansas City Real Estate Market
Property data on distressed properties across the U.S. has been compiled by The McClatchy Company and findings indicate it’s very possible there could be another 4 million distressed properties on the market in the next year or two. If true, that would double the supply of residential real estate on the market and thus double the months of inventory home sellers are up against with selling their homes. It will certainly have an effect on home values across the U.S. and our local real estate market in Kansas City, Johnson County KS, Overland Park and the surrounding areas won’t be immune.
Consider that The McClatchy Company’s analysis finds there’s about 3.5 million homes currently for sale in the U.S. There’s 600,000+ homes currently owned by lenders but NOT yet listed for sale. There’s 2.2 homeowners who are 90+ days late and who HAVE received either an initial foreclosure notice or notice of default. There’s 1.9 million homeowners who are 90+ days late but have NOT yet received a foreclosure notice or notice of default.
Add it all together and that’s how we arrive at the estimate that there could be another 4 million in distressed properties hitting the market in the next year or two. Until the volume of homes for sale, along with the shadow inventory (likely foreclosure listings that are not yet on the market) get in check, it’s likely that the real estate market will remain volatile for at least a year or more. That means a continuation of our current buyer’s real estate market. As long as interest rates remain low, we’re likely to look back in 5, 10, 20… 50 years and find that the next year or two were the best time ever to buy a home.
Posted by Jason Brown
Park Crossing Market Stats ~ Park Crossing Homes For Sale In Overland Park KS
Checking The Pulse Of The Kansas City Real Estate Market
Park Crossing Community Market Stats
Park Crossing Is A Subdivision In Overland Park KS
Looking over the Park Crossing market stats dating back a year to October 2010, 7 homes were listed for sale and 5 homes were Sold (closed) over the same 12-month period. The average sales price in Park Crossing was $207,820 and the home community had sales prices that ranged from a low of $185,500 to a high of $220,000.
Comparing the 4 Active homes for sale in Park Crossing to the past year’s sales rate in the home community, there’s 9.6 months of inventory on the market. This amount of inventory indicates a buyer’s market in the Park Crossing area. The average current list price of $221,738 is higher than the averaged priced home that sold the past 12 months ($207,820) in the subdivision. Park Crossing is a popular Overland Park Kansas home community and located near parks, dining and shopping amenities and near access to 69 and I-435 highways in Overland Park.
Park Crossing In Overland Park Kansas
Park Crossing is located in southern Overland Park Kansas and served by the Blue Valley School District. There’s approximately 178 homes in Park Crossing and many of the homes in the community were built from 1994 through 1997. If you are planning to buy or sell a home in Park Crossing or in another community in the surrounding Overland Park area, my group looks forward to assisting you.
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Posted by Jason Brown
Getting Pre-Approved Before Shopping For An Overland Park Home Is More Important Than Ever
Checking The Pulse Of The Kansas City Real Estate Market
Even with a solid down payment and good credit scores, home buyers are being grilled by mortgage lenders before their home loan are finalized. If you haven’t purchase a home in Kansas City, Johnson County Kansas, Overland Park or the surrounding area the past couple of years, the process is sure to be unlike the process you last went through. Liar loans, among many other “creative financing” tactics, have become a thing of the past.
If you are credit score challenged, you may not get that loan. If you do, there’s a good chance you’re going to have to jump through some hoops and wait to hear if you qualify to purchase an area home. This is why Kansas City Realtors won’t start working with a buyer until the buyer has gotten Pre-Approved with a quality local lender. Thinking of working with that online loan officer/company who competed for your business? Not if you work with my group. The last two home buyers who were Pre-Approved through companies like that ended up getting turned down for their loan AFTER we went under contract. Those lenders whipped out weak pre-approval letter without doing any legit research into those buyers qualifications.
So you can see that, not only is it critical that you get Pre-Approved, but you should do so with a loan officer who has an actual office here locally. A lender who knows our market and has a reputation to uphold is much more likely to do their due diligence in providing a valid Pre-Approval letter to home buyers. Thinking about making an offer on one of our listings and doing it without submitting a legitimate Pre-Approval letter? We advise our sellers to not consider any offer that doesn’t come in with a Pre-Approval letter where the lender has run the buyer’s credit and verified the buyer’s income and debt ratios.
Posted by Jason Brown
Falcon Ridge Market Stats ~ Falcon Ridge Homes For Sale In Lenexa KS
Checking The Pulse Of The Kansas City Real Estate Market
Falcon Ridge Community Market Stats
Falcon Ridge Is A Subdivision In Lenexa KS
Looking over the Falcon Ridge market stats dating back a year to October 2010, 41 homes were listed for sale and 19 homes were Sold (closed) over the same 12-month period. The average sales price in Falcon Ridge was $474,759 and the home community had sales prices that ranged from a low of $380,000 to a high of $660,000.
Comparing the 17 Active homes for sale in Falcon Ridge to the past year’s sales rate in the home community, there’s 10.7 months of inventory on the market. This amount of inventory indicates a buyer’s market in the Falcon Ridge area. The average current list price of $577,912 is higher than the averaged priced home that sold ($474,759) the past year in the subdivision. Falcon Ridge is a popular Lenexa Kansas home community and located near parks, dining and shopping amenities and near access to K-10, K-7 and I-435 highways in Lenexa.
Falcon Ridge in Lenexa Kansas
Falcon Ridge is located in western Lenexa Kansas and served by the Olathe School District. There’s approximately 410 homes in Falcon Ridge and many of the homes in the community were built from 1996 to 2009. If you are planning to buy or sell a home in Falcon Ridge or in another community in the surrounding Lenexa area, my group looks forward to assisting you.
Search Falcon Ridge Homes For Sale
Check For Additional Posts On Falcon Ridge
Get Assistance Buying A Falcon Ridge Home
Get Assistance Selling A Falcon Ridge Home
Posted by Jason Brown
Shawnee Kansas Real Estate Update – October 2011
Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Statistics On Shawnee Kansas
15 Day Glance At The Shawnee KS Real Estate Market
After calculating the absorption rate over the past 15 days in Shawnee Kansas, we find the city has 9.9 months of inventory currently on the market. This amount of inventory indicates a buyer’s market in the Shawnee Kansas area. The homes that sold (closed) in the city the past 15 days took an average of 97 days to do so. The average price of the new listings to hit the market the past 15 days was almost $226,000, while the average sales price was about $191,000.
| Type | # | Average $ | Avg DOM |
| Listings Past 15 Days | 44 | $225,971 | – |
| Total Active Listings | 437 | – | – |
| Newest Contracts Written | 22 | $239,330 | 131 |
| Newest Sold (Closed) | 22 | $191,097 | 97 |
* The Average $ of Newest Contracts Written considers the list price when the homes went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in a category can skew results. Stats cover approximately 15 days from post date. DOM = Days On Market.
The homes that went under contract the past 15 days did so at an impressive average list price of almost $240,000. If you are making plans to buy or sell a home in Shawnee Kansas, myself or one of real estate specialists look forward to assisting you through the process. Here’s information on how we can assist you with selling your Shawnee area home or with buying a Shawnee area home. Please contact us with any questions you have about Shawnee Kansas real estate.
Shawnee Kansas Relocation Information
Search Shawnee Kansas Homes For Sale
View Additional Real Estate Stats On Shawnee Kansas
Our Shawnee Kansas Buyer’s Agent Services
Our Shawnee Kansas Listing Agent Services
Posted by Jason Brown
Importance Of Homeowner’s Insurance When Buying A Kansas City Home
Checking The Pulse Of The Kansas City Real Estate Market
Getting homeowner’s insurance in place is usually one of the last things on the mind of our Kansas City homebuyers. While it’s understandable that MANY other important things are going on, getting your insurance in place is a critical step in the home buying process. You definitely won’t want to have to make the decision of insurance company at the last minute because they often leads to over-paying. So start the process of selecting who you’ll use for insurance as soon as you’re through the home inspection process. This will allow you plenty of time to get multiple insurance quotes. Rates are also fluctuating greatly and the difference in rate quotes may surprise you.
Some important considerations when getting insurance quotes include… how high of a deductible are you willing to accept? Are you getting guaranteed replacement cost coverage? Is the outbuilding, detached garage or swimming pool covered? Do you have sewage backup coverage? How about the contents in the home? If you have lots of valuable “stuff”, this is even more important. After you buy the home, be sure you let your insurance agent know if you finish your basement. If you don’t, will it be covered if you incur a loss?
Sometimes getting insurance quotes is like getting quotes from moving companies… how expensive it is can vary greatly depending on the day and whether the company is aggressively seeking new business at the time. It’s possible you could get quoted a high rate in an attempt to run you off or worse, accept over-paying. To avoid this, be sure you shop insurance rates with several reputable insurance companies. Here’s a few places you can get started… State Farm Insurance… All State Insurance… Farmer’s Insurance… GEICO Insurance… Nationwide Insurance… American Family Insurance.
Posted by Jason Brown