Tag Archives: Johnson County Kansas Real Estate

If You’re In The Market To Sell Your Home, You’ll Want To List With The #1 Real Estate Office In Johnson County KS

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The Jason Brown Group

My Overland Park Keller Williams office SOLD double the number of homes in December as the #2 office in Johnson County Kansas. If you’re in the market to sell your home, list it with an office that sold $24 million in real estate in December — that’s $10 million MORE sold than the next closest Johnson County Kansas real estate office. This includes all offices within all brokerages, including Keller Williams, Reece and Nichols, Re/Max, Platinum, Better Homes Gardens offices, etc.

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Over the past decade, The Jason Brown Group has sold our average listing within 60 days and for 98% of list price. We’re in the best seller’s market we’ve seen in years and we can help you get your home sold QUICKLY, for the MOST MONEY and we will make it EASY on you every step of the way! Call (913-915-6008) or email (jasonbrown@kw.com) us today, we look forward to discussing getting your home SOLD!

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Phasing Out Of The Kansas Mortgage Registration Tax

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The Pulse Of The Kansas City Real Estate Market

The Kansas Mortgage Registration Tax that has been in effect for nearly 90 years is being phased out. Over the years this tax applied to all Kansas home buyers who purchase a home that required a mortgage loan and it was one of the items items paid at closing. The formula used was $2.60 per $1000 of loan amount, so if a buyer was borrowing $100,000, they would pay $260 tax to the state of Kansas at closing. 

Photo 1385Many have viewed the tax as unfair and specifically targeted banks, mortgage lenders and home buyers in the state. Others have argued the tax is necessary to cover county recording fees, cover the county’s costs for county employees to handle foreclosure evictions, etc. Additionally, one cent of the 26 cents taxed per thousand was going to what’s known as the Heritage Trust Fund, which is the sole funding for many historic landmarks in Kansas. I’m really not sure how banks and home buyers became responsible for maintaining historic landmarks but that’s how it’s worked for years.

With the tax being phased over the next 5 years, the burden for the lost tax revenue will no doubt be made up somewhere. While it could mean higher real estate property taxes in the future, in the short term the plan is to try and make up for the loss with increases to the document recording fees on each closing, meaning much of the burden will still be felt by home buyers at closing. If the lost tax revenues aren’t offset by these increases, it could mean higher real estate property taxes for all Kansas counties in the future.

 
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A Balanced Kansas Real Estate Market Still Seeing Rise In Volume of Home Sales and Sales Prices

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Checking The Pulse Of The Kansas City Real Estate Market


The latest market stats from the Kansas Association of Realtors covering the January state-wide real estate activity show home sales rose 3.8%. This improvement follows up a 1.3% rise in the volume of homes sales when we checked last month. The continued demand for homes is a good sign as we head towards the spring selling season.

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Overall in the state of Kansas, we moved from a seller’s market and into a balanced real estate market with 6.4 months of inventory on the market. This is up from the 4.8 months of inventory at last month’s update.  Despite the balanced real estate market, home prices in Kansas continued to rise and were up 2.6%. This follows up a 1.4% rise in sales prices at last month’s check.

Locally in Johnson County Kansas, a seller’s real estate market continues with 441 homes sold (closed) during the past 30 days. Compared to the current volume of homes for sale in Johnson County Kansas, we have 4.1 months of inventory currently for sale in the county.

CONTACT THE JASON BROWN GROUP ABOUT BUYING OR SELLING A HOME IN KANSAS CITY, JOHNSON COUNTY KS, OVERLAND PARK OR THE SURROUNDING AREA


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Kansas Real Estate Market Remains Solid As We Head Into The Holiday Season

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Checking The Pulse Of The Kansas City Real Estate Market


The recently released Kansas Association of Realtor real estate market stats (covering October home sales activity) show a continued strengthening of the housing market in Kansas. Compared to last October, home sales volume increased 3.5%. This follows up last month’s 15.5% increase in home sales volume.

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The state of Kansas is in a balanced real estate market for the second month in a row with 5.5 months of inventory on the market. This is up from the 5.3 months of inventory last month month. The average home sale price in Kansas rose 8.4% in comparison to October of last year and this matches last month’s 8.4% increase. Home sales volume has increased every month-over-month for more than two years. 

Locally in the Johnson County Kansas, a seller’s real estate market continues with 739 homes sold (closed) during the past month. Factored against the current volume of homes for sale in Johnson County Kansas, there’s 3.0 months of inventory currently for sale. This amount of inventory indicates the presence of a strong seller’s market as we head into the holiday season.

SEARCH HOMES FOR SALE IN KANSAS CITY, JOHNSON COUNTY KS AND THE SURROUNDING AREAS


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Kansas City Real Estate Trends And Lifestyles… October 2013

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Checking The Pulse Of The Kansas City Real Estate Market

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Seller’s Real Estate Market Gaining Steam In Johnson County Kansas And State-Wide

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Checking The Pulse Of The Kansas City Real Estate Market


The most recently released Kansas Association of Realtors real estate market stats (covering June) show a continued strengthening of the Kansas housing market. Both home sales volume and home sales price continued to rise in June. Home sales increased 5.5% compared during the month, which follows up a 14.2% jump in home sales the prior month.

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The stats released a month ago showed the state of Kansas had moved into a sellers market for the first time since the market downturn years ago (with 4.0 months of inventory on the market). This update shows a continued solid seller’s market in Kansas with 4.3 months of inventory currently for sale. Home sales price rose 4.9% compared to June of last year and that follows up a 9.5% increase at last month’s update.

The Johnson County Kansas seller’s real estate market also continues with 975 homes sold (closed) the past month. Factored against the current volume of homes for sale in Johnson County Kansas, there’s 2.4 months of inventory on the market. At last month’s check Johnson County KS had 2.6 months of inventory, thus indicating a further strengthening of the seller’s market present in Johnson County Kansas.


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Johnson County Kansas Real Estate Market Update – January 2013 Update

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Checking The Pulse Of The Kansas City Real Estate Market

Johnson County Kansas Real Estate Update
Recent Real Estate Market Activity In Johnson County KS

Looking at the past 15 days of real estate activity in Johnson County Kansas and comparing it to the current volume of homes for sale, we find there’s 6.5 months of inventory in the county. This amount of inventory indicates a balanced real estate market in the Johnson County Kansas area. The average new listing the past 15 days came on the market around $273,000 and the average sales price during the same period was nearly $246,000.

Type # Average $ Avg DOM
Listings Past 15 Days 412 $272,512 —
Total Active Listings 2077 — —
Newest Contracts Written 360 $247,896 105
Sold (closed) Past 15 Days 160 $245,796 126

* 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 last 160 homes sold in Johnson County Kansas were on the market an average of 126 days. If you’re planning to buy or sell a home in Johnson County Kansas, contact us to discuss your real estate plans in detail. Find details on our website regarding selling a Johnson County Kansas home and with buying a Johnson County Kansas home.

Johnson County Kansas Real Estate Information

Search All Johnson County Kansas MLS Listing

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Listing Agents In Johnson County Kansas

Buyer’s Agents In Johnson County Kansas

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Kansas City Home Buyers To Face Tougher Lending Guidelines On FHA Loans

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Checking The Pulse Of The Kansas City Real Estate Market

It’s estimated that 30% of mortgage loans on home purchases today – 50% in some real estate markets – are FHA loans. That’s incredible when you think that just 5 years ago FHA backed about 5% of home loans. FHA loans have become such a significant part of today’s real estate market that it’s noteworthy any time FHA lending guidelines are changing. Beginning 7-1-12, borrowers with debts that have gone into collection will have new lending guidelines that must be followed to secure a FHA loan and close on their home purchase.FHA borrowers with debt collections will be required to dispute and show proof the debt is not truly theirs (identify theft, credit card fraud, etc) or, if the debts total more than $1000, then a payment plan must be set up to deal with the undisputed debts showing up on the borrower’s credit report. At least three monthly payments on the payment plan will have to be made before FHA will allow the loan to close. This means any FHA borrowers with debt collections shouldn’t be looking to close on a home in 30 or 60 days, because it’s not going to happen that quickly.

The new guidelines are further measures to stabilize FHA from the foreclosure crisis experienced in recent years. Doing so is vital because keeping FHA on stable ground is a key to the real estate market recovery. It’s also important because FHA foreclosures have continued to rise at a time when most other types of loans have experience a reduced volume of foreclosures. Although much of the rise in FHA foreclosures can be attributed to loans made three or four years ago, these changes are still a good step towards ensuring today’s home buyers are prepared for the mortgage debt they’re about to undertake.


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The Reality Of The 3.8% Real Estate “Sales Tax” That Goes Into Effect in 2013

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Checking The Pulse Of The Kansas City Real Estate Market

If you’ve heard about the new real estate tax scheduled to go in effect in 2013 and you’re wondering how it might affect you, you’ll be relieved to know the majority of home sellers will NOT be affected in any way by the new tax. If you hear it being called an across the board tax, that couldn’t be further from the truth. The 3.8% real estate tax would only apply IF there are capital gains on the sale, IF the capital gains are greater than $250,000 to the home seller AND the seller’s annual income is greater than $250,000.

While it will place a heavy burden on SOME home sellers, taking into consideration everything that would have to apply for the tax to be levied, you can see it’s going to affect very few home sellers in Kansas City, Johnson County, Overland Park and the surrounding area. The real estate tax law is actually rather complicated, so contact a CPA for tax advise on how it may affect your real estate investments. Generally speaking, this law will only affect home sellers with high annual incomes and who profit handsomely when selling high dollar properties. In reality, less than three percent of the U.S population make enough income to even trigger the tax.


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Signs Of A Balanced And Stable Kansas City Area Real Estate Market On The Horizon

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Checking The Pulse Of The Kansas City Real Estate Market

Though our ever-volatile economy makes it impossible to say for sure what the future holds for the housing market,  I’m feeling confident that when we look back on 2012, it’s going to be one of the best we’ve seen in Kansas City, Johnson County Kansas, Overland Park and much of the metro area in more than 5 years. It’s possible the housing market has hit rock bottom, though I’m still seeing reports where more than 10 million homeowners in the U.S. are upside-down on their homes. But the Armageddon of foreclosures predicted to come on the market last year never occurred.

No doubt, most people involved in the housing market (buyers, sellers, investors, mortgage lenders, real estate agents, appraisers, government agencies, etc.) are going to be more cautious going forward. We’ve gone through a crisis that has cost most homeowners and real estate investors a lot of money (or equity) and the situation at times has been likened to the Great Depression… any situation that gets that type of comparison is sure to be etched in our minds forever.

But the real estate market will go up – it always has – and I’m betting that within a few years we’re going to be in a balanced and stable real estate market. It’s already happened in many localized areas where buyers are buying to meet their living needs and sellers are looking for a reasonable return on their investment. Things are certainly looking up as I’ve seen national stats that show there’s 1/5 fewer homes on the market today than last year, listing prices have jumped more than 5% year over year (mostly due to an increase in buyer demand), the average time on market has been reduced 10%, etc.


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