Lenexa KS real estate update for June 2016… Get details on the Seller’s market & search Lenexa homes for sale

The Jason Brown Group

Lenexa KS Real Estate Update

There were 44 homes sold (closed) in Lenexa Kansas the past 15 days. Comparing this sales rate to the current 165 homes for sale in Lenexa, the city has 1.9 months of inventory on the market. This volume of real estate inventory indicates a strong seller’s real estate market in Lenexa. The average new listing the past 15 days in Lenexa Kansas came on the market around a $314,000 list price, while the average sales price during the same time frame was nearly $282,000.

Type # Average $ Avg DOM
Listings Past 15 Days 49 $313,634
Total Active Listings 165
Newest Contracts Written 44 $333,105 93
Sold (closed) Past 15 Days 44 $282,355 33

* 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 44 homes sold in Lenexa Kansas were on the market an average of 33 days, while the last 44 homes to go under contract did so in 93 days on average. We look forward to helping you assess the effect these market stats have on your your real estate investment and the decisions you make when buying or selling a Lenexa Kansas home.

The Jason Brown Group gives Lenexa home sellers powerful representation and we get our average listing sold within 60 days and for more than 98% of list price. We represent Lenexa home buyer’s best interests throughout the home buying process and help with locating all area homes for sale that fit our buyer’s needs. Get an overview of how we will assist you in selling a Lenexa Kansas home or buying a Lenexa Kansas home and contact us for personal real estate assistance.

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Posted by Jason Brown

 

Lenexa Kansas Real Estate Market – February 2015 Update

The Pulse Of The Kansas City Real Estate Market

Lenexa Kansas Real Estate Update
Recent Real Estate Market Activity In Lenexa KS

Using the 22 homes sold in Lenexa Kansas the past 15 days to calculate the absorption rate in the city, we find there’s currently 3.5 months of inventory on the market. This amount of inventory indicates a seller’s real estate market in the city of Lenexa. The average new listing the past 15 days came on the market around $322,000, while the average sales price during the same time period was around $266,000.

Type # Average $ Avg DOM
Listings Past 15 Days 38 $322,326
Total Active Listings 153
Newest Contracts Written 41 $280,346 56
Sold (closed) Past 15 Days 22 $265,810 78

* 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 22 homes sold in Lenexa Kansas were on the market an average of 78 days, while the 41 homes to go under contract during the same time period did so in 56 days on average. We can assist you with buying or selling a home in Lenexa, so contact The Jason Brown Group with all of your area real estate questions. You can also start the process by finding detailed real estate information on our site regarding selling a Lenexa Kansas home and buying a Lenexa Kansas home.

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Posted by Jason Brown

 

Lenexa Kansas Real Estate Market Update – April 2013 Update

Checking The Pulse Of The Kansas City Real Estate Market

Lenexa Kansas Real Estate Update
Recent Real Estate Market Activity In Lenexa KS

Looking at the past 15 days of real estate sales activity in the city of Lenexa Kansas and comparing it to the current volume of homes for sale in Lenexa, we find there’s 2.8 months of inventory on the market. This amount of inventory indicates a seller’s real estate market in the city of Lenexa and it’s the lowest volume of inventory I’ve seen in the city in many years. The average new listing the past 15 days came on the market around $334,000, while the average sales price over the same period was around $264,000.

Type # Average $ Avg DOM
Listings Past 15 Days 37 $333,511
Total Active Listings 143
Newest Contracts Written 40 $255,560 76
Sold (closed) Past 15 Days 26 $264,433 120

* 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 26 homes sold in Lenexa were on the market an average of 120 days. If you are looking to buy or sell a home in Lenexa and have questions about the area or market stats, please contact us for assistance. You can also find detailed information on our website regarding selling a Lenexa Kansas home and buying a Lenexa Kansas home.

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Posted by Jason Brown

 

Important Effects Of The Fiscal Cliff Deal On The Kansas City Real Estate Market

Checking The Pulse Of The Kansas City Real Estate Market

2012 was a much improved year for the Kansas City real estate market. Even through the slower fall months, supply, demand and housing prices remained steady and the housing market continued its rebound. The months of inventory on the market in most local areas was at the lowest points seen in years. All together, home prices in most price ranges had stabilized and that’s been music to many weary home seller’s ears. But all of that was threatened by the Fiscal Cliff and if a deal hadn’t been struck by Congress the housing market could have quickly fallen into turmoil.

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A critical factor in the Fiscal Cliff deal is the extension of the tax relief offered to Short Sale home sellers. For at least the next year, sellers who achieve a successful Short Sale with their lender will continue to NOT have to treat the forgiven debt as taxable income. This is huge because without it a lot of sellers would have lost motivation to try to work out a short sale… And that would have meant a whole lot more foreclosures on the market and ultimately lower sales prices in most areas.

Just as importantly, the mortgage interest deduction for homeowners will continue untouched. The mortgage interest deduction is one of the most important factors in owning a home versus renting, so this part of the legislation was extremely critical. All together, the Fiscal Cliff deal will help prevent an influx of new listings on the market and thus allow the real estate market to (hopefully) continue on the path of recovery.


Posted by Jason Brown

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Pre-Inspections Could Cause Kansas City Home Sellers To Face Double Jeopardy

Checking The Pulse Of The Kansas City Real Estate Market

I’ve debated other Kansas City real estate agents over the years about whether pre-inspecting a home is a good idea for home sellers. There’s a few agents who agree that there’s more downside than upside to pre-inspecting but the majority of agents are quick to recommend pre-inspections to their home sellers. One of the main benefits to pre-inspections are they provide home buyers reassurance in the home. Another reason home sellers might pre-inspect is to give themselves ample time to address inspection items that may come up — before a buyer gets involved and possibly tries to dictate the repair process. These sound like very decent reasons to pre-inspect but you’ve also got to consider the downside of facing double jeopardy of sorts when it comes the home inspection process.

I certainly don’t recall any home buyer ever choosing a particular home simply because it had been pre-inspected. You can bet that, whether or not a home has been pre-inspected, a home buyer is going to hire their own home inspector to look things over once the home goes under contract. Doing a pre-inspection will cost a home seller several hundred dollars and the seller is then required by law to disclose ALL material defects in the report to future buyers. In most cases, a home buyer is going to expect a seller to have addressed all critical items in the pre-inspection report. Then the buyer is going to do their own home inspection and the seller is going to get to go through the repair process once again after the buyer’s home inspector pours over the home.


Posted by Jason Brown

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Check Your Credit Score Today If You Want To Buy A Kansas City Home In The Future

Checking The Pulse Of The Kansas City Real Estate Market

It’s often the last thing on a home buyer’s mind yet credit scores are a powerful aspect of buying a Kansas City home. I’ve seen borrowers with a 20% down payment and buying WELL below their means get turned down for a home loan because their credit scores stink… And if you think you can quickly fix issues with your credit, think again because I’ve never seen someone “fix” their credit score in just a couple of weeks time. It can take months to deal with errors and longer to deal with legitimate issues that have pushed a credit score down.


Being late on your monthly payments can kill a credit score and consider that credit scores are as much about a borrower’s responsibility as it is about their ability to make the payments.  A person who barely gets by but always makes their payments on time will surely have a better credit score than someone who makes twice as much but is often late with their payments. You can check out how your credit report is looking by getting a free, once-a-year, credit report check at  AnnualCreditScore.com

The formula for credit scores is more of an ancient Chinese secret than how Mr. Li got those shirts so clean in those 1970’s commercials, but the following are some frequent common denominators of people with 800 credit scores… 4 revolving accounts such as credit cards, 2 installment loans like a home loan or car loan, at least one active credit account that’s 10+ years old, having no revolving accounts that are more than 1/3 maxed out, not having a single late payment on any account the past 5 years and having less than 5 inquiries against your credit during the past year.


Posted by Jason Brown

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Hottest Real Estate Markets In The Kansas City Metro Area

Checking The Pulse Of The Kansas City Real Estate Market

I thought it would be interesting to see which Kansas City metro cities are currently seeing the best sales rates. If we went strictly by gross number of sales, the largest cities would of course dominate the rankings. Instead, I wanted to see how many months of inventory was present in each city.  In other words, I’ve compared the past 30 days sales rate against the current number of homes on the market. I wrote down the largest 20 cities that came to mind and after running the numbers here’s the hottest real estate markets in Kansas City…

#1. Prairie Village, 5.1 months of inventory
#2. Olathe, 6.8 months of inventory
#3 (tie). Overland Park, 7.4 months of inventory
#3 (tie). Lenexa, 7.4 months of inventory
#5. Shawnee, 7.6 months of inventory
#6. Raymore, 8.6 months of inventory
#7. Lee’s summit, 9.8 months of inventory
#8. Liberty, 9.8 months of inventory
#9 (tie). Kansas City, 10.4 months of inventory
#9 (tie). Leawood, 10.4 months of inventory


Prairie Village and it’s charm came in with a solid 5.1 months of inventory and that’s as close to a stable market as you’ll see today. Johnson County had the most cities in the top 10, easily outpacing other surrounding Kansas City metro area counties.

Posted by Jason A. Brown

Tell Your Kansas City Realtor To Leave Those Rose Colored Glasses Behind

Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market

Let’s be honest, it’s not all that hard to become a Realtor in Kansas City and in other parts of the country for that matter. Spend a week studying, take the exam and you’re off and running.  That’s how I did it 15 years ago and how I assume most other real estate agents do it as well.  From there though a startling 80% of agents drop out within a year. That means 80% of people who jump in thinking that selling real estate is easy, find out it’s not. The 20% who make it past the first year quickly start to distinguish themselves from each other.  I certainly run my business different from many agents. I’m candid, not wishy-washy. I tell my clients the truth even when it hurts — even when it costs me business. My job is helping guide people in making their real estate decisions and, if I do that well, I’ll close enough transactions to make a living.


Recently I was talking at the water cooler with a fellow agent I respect and we were discussing how rough it is for sellers out there. After eaves-dropping for a while, another agent asked if all we had to share was bad news. I turned to her and asked if she was aware that for the past 12 months, in every one of the primary cities I work, there had been MORE homes coming on the market than home Sold. (Read: even more competition hitting the market for home sellers.)  I shared with her a few of our area market statistics before she interrupted to say that she’d rather look on the bright side of things. Well, I can appreciate that in a person. However if my financial planner gives me advice through rose colored glasses, how does that help me? I guess a pep talk could have me feeling better until my next investment statement arrives in my inbox. You see, I want the TRUTH, even when it hurts.

Speaking of the “truth”, it’s a fact that many home sellers in Kansas City right now want to work with an agent who makes them feel better about their situation. I understand this is a stressful time for many who own real estate and are facing a possible Short Sale, Foreclosure or have had to give up important things in life to keep up with their house payments. But I’ll get out of the business before someone can convince me that a real estate agent’s primary job is to make the client feel better. That perception is ridiculous to me. If I’m selling a home out-of-state, I’d want an agent who works hard for me and who has an in-depth knowledge of the area so they can give me the best possible advice. I want an agent who has statistics to back up their assertions. I want an agent who has the online presence to help me succeed and online tools that simplify the process. I’d want an agent who is organized, easy to communicate with and who understands my goals. But most importantly, I’d want an agent who doesn’t own a pair of rose-colored glasses.

Posted by Jason A. Brown
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