Are We Nearing The End Of A Buyer’s Real Estate Market In The Kansas City Area?

Posted on March 20, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

If you’ve been following my real estate updates on Kansas City, Johnson County, Overland Park and the surrounding area, you’ve probably noticed that the months of inventory in most areas has been improving for several months now. An improved home sale rate coupled with fewer listings hitting the market has cut the amount of inventory drastically. Just ask one of your friends or family members who’s been out shopping for homes and they’ll probably tell you there’s fewer options than they expected. It’s true that the past several years most buyers had so many options their heads would spin. But that trend has been changing in recent months.

Though home prices have still fallen slightly in the past year, the improved sales rate could be foretelling of what’s on the horizon. Before home sales prices begin an upward climb, an improved sales rate must first be established. Since it takes some time for a home to close and because it can take a while for buyers to comprehend that the market has changed, I think it will take at least 6 months after a recovery has begun before home sales prices follow suit. If we’re at that point now, waiting several months to buy a home could leave a buyer in a much more competitive market.

We’re already seeing some sellers pushing back more than they have in years. When a seller realizes there’s less competition on the market, they’re going to arch their backs more. They’ll begin providing fewer concessions to buyers and holding more firm on their price. A recent Bloomberg survey showed national home sales are at their highest level in two years. If these types of trends continue, it’s likely to lead us straight out of our current buyer’s market and into a balanced real estate market in the near future… And with interest rates sure to rise, there’s going to be a lot of home buyers regretting their missed opportunity.

Posted by Jason Brown

Test The Leawood Kansas Home You’re Buying For The Presence Of Radon Gas

Posted on March 16, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

Radon gas is the second leading cause of lung cancer and that’s why the majority of home buyers in Kansas City, Johnson County Kansas, Leawood and the surrounding area are having the home they’re purchasing tested for radon gas. Most homes will have some level of radon gas since it’s a soil born gas and it can rise from the ground through just about any home penetrations like windows or cracks in your basement floor. The sump pit hole that most homes in our area have is one of the biggest culprits for allowing radon gas into a home. It’s certainly the biggest hole between the home and the earth and that’s why covering the hole is usually the first step in the radon mitigation process.

You can’t sense radon gas because it’s invisible and odorless. Even the smallest cracks in your basement floor or foundation walls can allow in radon gas. Radon gas can be present on a 100-year-old home or a newly constructed home. The EPA recommends you test your home for the presence of radon gas and if the test results in a reading higher than 4.0 (picoCuries per liter of air) they recommend steps be taken to mitigate the radon down to a level below a 4.0 reading. If you think testing for radon gas is not worth the trouble, you should consider that more than 20,000 people die each year due to exposure to radon gas.

Besides covering the sump pit hole, other methods for reducing the level of radon gas in a home include filling the void where the basement floor meets the foundation wall, filling any visible cracks in the concrete and the installation of an exhaust pipe from the basement floor (sometimes straight out of the sump pit) that runs to the exterior of the home (with the help of a low voltage fan). The cost of installing a radon mitigation system has come down in recent years and many homes cost less than $800, depending on difficulty of the installation.

You can learn more about radon at the EPA’s site. Many home inspectors can test for radon and then recommend a company for installing a mitigation system, should one be needed. Some radon companies both test for radon and install mitigation systems, though you may find that to be a conflict of interest. To help you, here’s a list of some local radon inspection and mitigation system installation companies…

Affordable Radon Solutions
AAA Radon Solutions
Air Chem Radon
Certified Radon
Complete Home Inspection
Crown Home Inspections
Custom Home Inspection
Family Home Inspection Services
Home Team Inspection Services
Mid America Property Solutions
Midwest Radon

Posted by Jason Brown

Search Foreclosure Listings In Kansas City, Johnson County KS, Overland Park And The Surrounding Area

Posted on March 13, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

Are you looking for foreclosure listings in Kansas City or Johnson County Kansas? We have a search tool that allows you to search JUST the foreclosure listings in the area. You can search by city, subdivision, price range, school district… you name it. Once you’ve exhausted all the foreclosure listings, the system will also allow you to search typical resale homes in the area you desire.

Keep in mind that most foreclosure listings will need a lot of work. Many have been neglected for a long time and will have a ton of deferred maintenance and repairs needed. Almost all foreclosure listings need some updating, many of them in need of a complete overhaul of the paint, carpet, plumbing fixtures, light fixtures, etc. Despite this, there’s some great deals out there if you’re willing to fix up a home and you might find yourself a diamond in the rough. To start searching all of the area foreclosure listings, click this link…

SEARCH KANSAS CITY AND JOHNSON COUNTY KS FORECLOSURE LISTINGS

Posted by Jason Brown

Youth Sports Programs In Kansas City, Johnson County KS, Overland Park And The Surrounding Areas

Posted on March 10, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

If you are moving to Kansas City, Johnson County Kansas, Overland Park or the surrounding area and have children interested in sports, there’s a ton of options to consider. From swimming to football, from indoor to outdoor sports, the metro area has some of the best programs and facilities around. A couple of years ago we put together a list of youth sports programs and since that time some have come and gone, so here’s a new list of your sports programs to help get you on the right track…

Kansas

Missouri

Aikido Martial Arts (Kansas City MO)
Karate USA (Jackson County MO)
Barstow School Camps (South Kansas City MO)
Gladstone Parks and Recreation (Gladstone MO)
Heart of America Junior Golf (Kansas City MO)
Henley Aquatic Center (Independence MO)
Independence Parks and Recreation (Independence MO)
Kansas City Missouri Parks and Recreation (Kansas City MO)
Karate USA (Overland Park & Olathe KS)
Lee’s Summit Parks and Recreation (Lee’s Summit MO)
Liberty Parks and Recreation (Liberty MO)
Line Creek Community Center (North Kansas City)
NKCA Baseball (North Kansas City MO)
North Kansas City Parks and Recreation (North Kansas City MO)
Prodigy Basketball (Jackson County MO)
Raytown Soccer Club (Raytown MO)
R & R Stables (Lee’s Summit MO)
Sports City Indoor Sports (Blue Springs MO)
Starlight Stables (Liberty MO)
Tsunami Swim Team (Independence MO)
Western Missouri Soccer League (Gladstone MO)
YMCA Missouri Side

Posted by Jason Brown

Improvement In The Home Sales Rate In Kansas Far Outpaces The National Average

Posted on March 6, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

The January real estate market stats have been posted by the Kansas Association of Realtors and they show a much improved sales rate state-wide. Home sales rose an astounding 15.5% in the state compared to January of 2011, far out-pacing the national average of a 0.7% increase. This increase continues the pattern of eating into the high inventory of homes experienced over the past several years in Kansas.

Despite the improving sales rate, the average sales price continues to be affected by the volume of distressed homes (foreclosures, short sales, etc.) on the market. The average sales price in January of this year was $138,180 compared to $144,552 in January 2011. This is a 4.4% decrease in the average home sales price in Kansas. There were 16,090 homes for sale in Kansas at the end of January. Compared against the January sales rate of 1,609 homes sold, that calculates to 10.0 months of inventory on the market.

Locally in Johnson County Kansas, the January stats were more impressive. There were 414 homes sold during the month and comparing that to the roughly 2,800 homes for sale in Johnson County Kansas, there’s 6.8 months of inventory on the market. This indicates a slight buyer’s market in Johnson County Kansas. With the spring market around the corner, we’ll see if the demand for homes outpaces the typical high volume of homes expected during the spring months.

Posted by Jason Brown

Benefits Of A Home Warranty Can Be Great For Home Buyers In Kansas City, Johnson County Kansas And The Surrounding Area

Posted on March 2, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

If you’re in the market to purchase a home, you should consider the benefits of a one year home warranty. A home warranty is not the same as homeowner’s insurance. While a homeowner’s insurance policy will cover home buyers if their home catches fire or suffers wind damage, it won’t replace your stove if it goes out. Another way to think of it is this, if your dishwasher broke and ruined your hardwood floor, your homeowners insurance should fix the damage to the home but a home warranty would replace the broken dishwasher.

Getting a home warranty in place gives a home buyer the piece of mind for the first year they live in the home. Some buyers prefer to “self-insure” against such items and that’s fine for many people. But if you are operating on a tight budget, having your furnace go out could be a huge burden and spending thousands of dollars on a problem no one saw coming could have a huge effect on a home buyer. The cost of a typical home warranty is often in the $400 to $500 price range, though there’s many different options to consider that can cause the price to vary.

Buyers can ask a seller to pay for the home warranty at closing and if a seller agrees to do so, the buyer is essentially asking a seller to accept $400 to $500 off the list price (over and above whatever less in price the buyer has offered on the home). The seller pays for the home warranty at closing (out of their proceeds) and the buyer would then have a one year home warranty in effect. Should something go wrong, in most cases, all a seller has to do is pay a trade call fee (of maybe $50 to $100) and they should be on their way to having their problem resolved. If you’re in the market for a home warranty company serving Kansas City, Johnson County, Overland Park and the surrounding area, here’s a few options to consider…

HMS Home Warranty

A.B. May Home Warranty

Old Republic Home Warranty Protection

First American Home Buyers Protection

Posted by Jason Brown

Johnson County Kansas School Districts Lengthen List Of Presidential Scholar Candidates And National Merit Finalists

Posted on February 28, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

Johnson County Kansas school districts continue to impress with a long list of Presidential Scholar candidates and National Merit finalists. The Blue Valley School District, covering portions of Overland Park, Leawood and Olathe has 38 National Merit finalists and 15 Presidential Scholar candidates. The Shawnee Mission School District, covering portions of Overland Park, Shawnee, Lenexa, Prairie Village, Leawood and northeast Johnson County Kansas, has 22 National Merit finalists and 4 Presidential Scholar candidates. The Olathe School District, covering portions of Olathe, Lenexa and Overland Park has 13 National Merit finalists and 5 Presidential Scholar candidates. The De Soto School District, covering portions of DeSoto, Lenexa and Shawnee has 3 National Merit Finalists.

Here’s links to information on these awards and other Johnson County Kansas school district awards, achievements and recognition…

Blue Valley School District Awards

Shawnee Mission School District Awards

Olathe School District Awards

De Soto School District Awards

Gardner-Edgerton School District Awards

Spring Hill School District Awards

Posted by Jason Brown

10% Of Kansas City Metro Area Homes For Sale Are Short Sale Listings

Posted on February 24, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

If you are upside down on your home or needing to sell and teetering on a break-even, it can be a very stressful time. If this is you, you’re not alone because around 10% of the homes for sale in Kansas City, Johnson County Kansas and the surrounding areas are Short Sales. We get calls all the time from people needing help in determining if they’ll be able to sell in a traditional sale or if they’re going to need to get short sale approval from their lender.

Seller’s who are upside and in a situation they need to sell, can bring the cash to closing to make the sale happen. This happens more than you may realize and is a way to save your credit and make the problem go away. But for the majority of seller’s who are upside down on their home, they don’t have the cash needed and they’ll need to get their lender on board with selling the home in a Short Sale. If you know someone who is facing losing their home in foreclosure, you can recommend they contact us to discuss the process and their situation. If we can achieve a successful short sale, the lender pays all the real estate commissions and many sellers are unaware of that important detail.

Anyone who needs to sell their home in a short sale will want to act quickly because the law that has allowed short sale sellers to avoid tax consequences is set to expire December of this year. If that happens, sellers could have tax consequences on the amount of the loan written off as a loss by the lender. I’m just a real estate agent so be sure to contact a tax adviser with all tax related questions. The average short sale is taking more than four months to complete, so if that tax law isn’t renewed, selling a home in a short sale next year will be less appealing than it is today.

Posted by Jason Brown

Why You’ll Want A Buyer’s Agent Helping You Purchase A Home In Olathe Kansas

Posted on February 21, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

It’s estimated that more than 80% of residential real estate transactions today involve a buyer’s agent. With fewer and fewer home buyers contacting the listing agent to schedule showings these days, it’s apparent that the majority of buyers realize how beneficial it is having a buyer’s agent. Probably one of the most important reasons is because the listing agent represents the seller’s best interests. Yes, a listing agent is happy to help you but it’s because they’ll earn more commission for working both sides of the transaction. So don’t misconstrue a listing agent’s friendliness for something it’s not.

Can you close a deal without a buyer’s agent involved? Absolutely. But the better question is, why would you? A buyer’s agent commission is already factored into the price you see on all listed homes. So, if you don’t have a buyer’s agent assisting you, the listing agent and broker are going to keep 100% of the commission. Think they’ll cut you a deal? Most will say no way because they now have both a buyer and seller to tend to and will be doing double the work. Others will inform you they’ve already given the seller a deal for buyer’s who are unrepresented. Others will not even discuss commissions.

Besides, having a buyer’s agent representing you will help you with contract negotiations, inspection negotiations, etc. If I were buying a home in another state I’d have a buyer’s agent assist me. They know the areas better than anyone. They can schedule 5 showings in a couple of hours whereas it could me days to see 5 homes if I’m trying to schedule directly with the listing agents. They will take care of the entire process for me, handle all the paperwork and generally help me get the best possible deal. Not only will it not cost me a dime, it will easily save me money and time in the long run. So if you’re thinking about buying a home in Olathe, Johnson County Kansas, Kansas City or the surrounding area, we have buyer’s agents to guide you through the process.

Posted by Jason Brown

For The Majority Of Overland Park Home Buyers, It’s All About The Price

Posted on February 18, 2012 by Jason Brown

Checking The Pulse Of The Kansas City Real Estate Market

Choosing an appropriate list price will always be a critical step in the home selling process. But it’s more important than ever in today’s buyer’s market because, for the majority of home buyers in Overland Park, Johnson County Kansas and the surrounding Kansas City area, it’s all about the money they’re paying for a home. If the price isn’t right, buyers are moving on and leaving sellers in the dust. This fact makes it hard for many home sellers who, while trying to arrive at an appropriate list, have heavy burdens on them like trying to break even, considering a short sale if they’re upside down or just trying to net as much as possible on the sale and move on.

Though the market has improved in the past year, we remain in a buyer’s market and until that changes buyers are going to demand a great deal. It’s the law of supply and demand and buyers today certainly recognize they have the bull by the horns. They feel that they must get a good deal while the time is right and to also avoid losing money should property values fall in the near future. Still, for every home there’s a price that will sell the home and finding that price early in the process and avoiding a lengthy stay on the market is almost always in a seller’s best interest.

Seller’s need to be smarter than their neighbor when selling and understand that the over-priced listing down the street is not a reason to also be over-priced — it’s a reason to price the home BELOW them. There’s more supply (sellers) than demand (buyers) in today’s market and it’s possible some of the neighborhood homes will never sell. Or some will take a lot longer than others to sell. If a seller doesn’t want to be THAT home, then pricing ahead of the competition is advised and essentially the neighbors over-priced listing will push buyers their way.

Posted by Jason Brown

Real Estate Info and Market Updates for Kansas City, Johnson County Kansas and all of the surrounding metro area

The Jason Brown Group ~ Involved in the sale of 1,500+ area homes

Category Archives: Prairie Village Real Estate

Are We Nearing The End Of A Buyer’s Real Estate Market In The Kansas City Area?

Test The Leawood Kansas Home You’re Buying For The Presence Of Radon Gas

Search Foreclosure Listings In Kansas City, Johnson County KS, Overland Park And The Surrounding Area

Youth Sports Programs In Kansas City, Johnson County KS, Overland Park And The Surrounding Areas

Improvement In The Home Sales Rate In Kansas Far Outpaces The National Average

Benefits Of A Home Warranty Can Be Great For Home Buyers In Kansas City, Johnson County Kansas And The Surrounding Area

Johnson County Kansas School Districts Lengthen List Of Presidential Scholar Candidates And National Merit Finalists

10% Of Kansas City Metro Area Homes For Sale Are Short Sale Listings

Why You’ll Want A Buyer’s Agent Helping You Purchase A Home In Olathe Kansas

For The Majority Of Overland Park Home Buyers, It’s All About The Price