Tag Archives: Leawood Real Estate

No Slow Down Present With The Kansas Real Estate Market

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Checking The Pulse Of The Kansas City Real Estate Market


The most recently released real estate market stats (covering the month of November) show the state of Kansas had further improvements in both average sales prices and volume of home sold across the state. The volume of homes sold rose 23.2% in November in comparison to November 2011. This is another big jump that follows up last month’s 20.5% increase in the number of homes sold state-wide in Kansas.

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Average home sale price rose 5.0% compared to November of last year. This jump in home sale prices follows up last month’s 3.8% increase. Comparing November’s sales rate against the volume of homes for sale, there’s 5.4 months of inventory on the market — an improvement on last month’s 5.6 months of inventory. Both calculations represent a balanced real estate market and trending towards a seller’s market. This makes nine straight months that Kansas has been in a balanced market.

Here locally in Johnson County Kansas, the real estate market remains in a seller’s market. In the past 30 days there were 554  homes sold in Johnson County Kansas. Comparing this sales rate against the current volume of homes for sale, there’s 3.7 months of inventory on the market. This is identical to the 3.7 months of inventory at last month’s check. All of this is excellent news for our local real estate market. 


Posted by Jason Brown

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The Rally For Homeownership Across The U.S. Makes It’s Kansas City Stop

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Checking The Pulse Of The Kansas City Real Estate Market

Housing has led the way for every major economic recovery in U.S. history. To be sure our government is not overlooking the importance of housing, there’s a seven city Rally For Homeownership event across the U.S. and it’s making a stop in Kansas City next week. You can play an important role by attending the event next Tuesday 9/25/12 from 11:30am to 1pm. The free event is put on with cooperation of the National Association of Home Builders and as a former president of the KC Home Builder’s Association, my brother Mike Brown is chairman of the event.

Our lawmakers seem to have forgotten that housing generates jobs and stimulates our economy, so the objective of the Rally For Homeownership event is to ensure that our lawmakers DO remember that when they’re making decisions that affect our country’s short-term and long-term future. It’s up to us to remind Congress that Americans value the pride of homeownership, the investment that is homeownership, that owning a home is the American way and that it’s critical for our laws reflect these truths.

Speakers at the event will include Emanuel Cleaver (U.S. Representative), Nick Jordan (Kansas Secretary of Revenue), Kevin Stucker (President of the KC Home Builders Association), Don Reimal (Independence MO Mayor), Dave Lindstrom (Johnson County KS Commissioner) and Chris Koster (Missouri Attorney General).

The initial rally in Columbia South Carolina drew nearly 1000 citizens and spearheaded these additional 7 stops. The location for the Kansas City event is the Harry S. Truman Library and Museum in Independence MO and you can click here for directions. The event lasts 1.5 hours and I hope you’ll attend as this affects anyone who owns a home, hopes to own a home, works in a profession affected by the housing industry as well as anyone who simply cares about the great effect that the housing market has on our country’s economic recovery.


Posted by Jason Brown

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For The First Time In Years, Johnson County Kansas Is Settling Into A SELLER’S Real Estate Market

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Checking The Pulse Of The Kansas City Real Estate Market


The April housing market stats for Kansas have been posted by the Kansas Association of Realtors and indicate continued improvement in both the home sales rate and increasing home sale prices. State-wide, home sales rose 3.2% compared to April of 2011, which follows last month’s 11.6% jump. Nationally, home sales increased an average of a 10%, an indication the housing market is improving nationally as well. 

Average sales prices had another big jump, rising 8.7% in April… this coming after last months 10.5% increase. Using April’s sales rate compared against the volume of homes for sale, there’s 6.4 months of real estate inventory on the market across the state. This amount of inventory has moved the state of Kansas from a buyer’s market into a balanced real estate market for the first time in years.

Looking locally at the Johnson County Kansas real estate market stats, April was another solid month for home sellers. There were 747 homes sold during the month and comparing that sales rate to the current volume of homes for sale in Johnson County Kansas, there’s 4.1 months of inventory on the market. This is an improvement from 4.7 months of inventory on the market when we checked about a month ago in Johnson County KS. This amount of inventory continues last months jump into a seller’s real estate market in Johnson County.


Posted by Jason Brown

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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.


Posted by Jason Brown

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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.


Posted by Jason Brown

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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.


Posted by Jason Brown

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Changes Are Evident In The Johnson County Kansas Real Estate Market

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Checking The Pulse Of The Kansas City Real Estate Market

As I’ve pulled market stats for clients the past several weeks, there’s been a recurring theme of improved market stats for area home sellers. We’ve been in a buyer’s market for several years but we’ve definitely transitioned recently into a balanced real estate market in some areas. That’s giving confidence to many homeowners to get their homes on the market and make the move they’ve been postponing for several years. It will be interesting as we head into the spring market to see if the recent impressive volume of home sales can counteract the volume of new listings we’re sure to see the next couple of months.

The local real estate market has definitely been gaining momentum recently and while I don’t think we’re ever going to the crazy seller’s market that led up to the housing mess, I think it’s reasonable to expect a slow and steady recovery in Johnson County Kansas, Overland Park and much of the surrounding area. Though if the current real estate market shift continues, it’s going to leave more and more home buyers struggling to understand why there’s fewer homes from which to choose. 

Posted by Jason Brown

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

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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

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

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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

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Leawood Kansas Real Estate Market Update – February 2012

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Checking The Pulse Of The Kansas City Real Estate Market

Real Estate Statistics On Leawood Kansas
15 Day Glance At The Leawood KS Real Estate Market

After calculating the absorption rate over the past 15 days in Leawood Kansas, we find the city has 14.8 months of inventory currently on the market. That’s a very high amount of inventory and a clear buyer’s market in Leawood Kansas. But 27 homes went under contract during the same 15 day period and that figure is much more impressive than the 8 homes that sold (closed) in Leawood Kansas the past 15 days. If we instead used the homes that went under contract to calculate the absorption rate in Leawood (and assumed all of them make it to closing), there’s 4.4 months of inventory.

Type # Average $ Avg DOM
Listings Past 15 Days 34 $533,303 –
Total Active Listings 236 – –
Newest Contracts Written 27 $435,697 105
Newest Sold (Closed) 8 $415,563 157

* 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.

If you are making plans to buy or sell a home in Leawood Kansas, my group looks forward to guiding you through the real estate process. Here’s information on how we can assist you with selling your Leawood home or with buying a Leawood home. Please contact us with any questions you may have about the buying or selling process.

Leawood Kansas Relocation Information

Search Leawood Kansas Homes For Sale

View Additional Real Estate Stats On Leawood Kansas

Our Leawood  Kansas Buyer’s Agent Services

Our Leawood Kansas Listing Agent Services


Posted by Jason Brown

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