Tag Archives: Overland Park Home Buying

Lenexa Kansas real estate update for December 2015… Seller’s market breakdown, Search Lenexa homes for sale

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Lenexa KS Real Estate Update

There were 18 homes sold (closed) in Lenexa Kansas the past 15 days. Comparing this sales rate to the current 145 homes for sale in Lenexa, the city has 4.0 months of inventory on the market. This amount of real estate inventory indicates a seller’s real estate market in the city of Lenexa. The average new listing the past 15 days in Lenexa Kansas came on the market at a $341,000 list price, while the average sales price during the same time frame was $289,000.

Type # Average $ Avg DOM
Listings Past 15 Days 24 $340,621 —
Total Active Listings 145 — —
Newest Contracts Written 32 $328,678 77
Sold (closed) Past 15 Days 18 $288,785 60

* 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 18 homes sold in Lenexa Kansas were on the market an average of 60 days, while the last 32 homes to go under contract have done so in 77 days on average. We can help you further assess these market stats and we looking forward to assisting you with buying or selling a Lenexa area home.

We pride ourselves on assisting the average home seller with getting their home sold in 60 days and for 98% of list price. We represent Lenexa home buyer’s best interests throughout the home buying process and can help you find all the area homes that fit your needs. Get detailed information on our site regarding selling a Lenexa Kansas home or buying a Lenexa Kansas home and contact us when it’s time to start the real estate process.

Lenexa Real Estate Information

View All Lenexa Homes For Sale

Additional Real Estate Market Stats

Lenexa Listing Agents

Lenexa Buyer’s Agents

Posted by Jason Brown

 

Is Your Credit Score Good Enough To Buy A Home In Kansas City Or Johnson County KS?

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Checking The Pulse Of The Kansas City Real Estate Market

If your credit score is over a 800, you’ll be in the drivers when getting Pre-Approved to purchase a home in Kansas City, Johnson County Kansas or the surrounding area. The mythical perfect credit score is 850 but in reality, even if you could obtain that score, there’s virtually no difference between that and an 800 credit score. More or less, if your credit score is over a 770 you’re considered an excellent credit risk and financing will likely be readily available to you.


Often times, a credit score of 750 is also considered excellent and may help you obtain the same good financing options that an 800’s credit score borrower gets.  But dip below 750 and you’ll likely fall below what most lenders consider an “A” paper borrower.  Still, there’s many lenders that consider a 720 or even a 700 credit score to be a solid credit risk. But dip any further, such as the 700’s to 720’s and lenders are likely to be scrutinized on your likelihood to repay the loan. If your score is in the 680’s or 690’s, you will face even more scrutiny, though you are likely to still be able to obtain a home loan.

If you’re in the 640’s to 680’s range, you may find lenders are unwilling to give you the most favorable terms and low fees. If you’re below 640, it’s possible you’ll get rejected for the loan. More or less, a mid 600’s presents lenders with a so-so credit risk, so you’re not going to get the most favorable terms. If your credit score is below 620, your ability to get a loan will certainly be in question with many lenders. Anything below a 600 could require you to check around for a lender willing to take on the credit risk. Once you find a lender willing and able to give you a loan, you should definitely expect a higher interest rate and/or higher fees to be charged.

If your credit score is in the 500’s, you are definitely credit score challenged and you should probably make plans to rent or move in with the in-laws. You’ll surely need to spend time improving your credit to raise the credit score and be able to purchase a home. Although I play one on TV, I’m not a mortgage lender, so be sure you contact a local mortgage lender to discuss your options in getting Pre-Approved to purchase an area home. It costs nothing to do so.


Posted by Jason Brown

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

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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

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Overland Park Home Buyer’s Should Start Shopping Homeowner’s Insurance Rates Early In The Buying Process

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Checking The Pulse Of The Kansas City Real Estate Market

Shopping for homeowner’s insurance is not usually at the top of our Overland Park home buyer’s priority list. However it’s critical that home buyers adequately protect the largest investment they’ll probably make in their lifetime. To do so, a home buyer will want to avoid having to deal with such an important task once they’re under contract and operating under stressful time constraints. Shopping early in the home buying process will allow a buyer to ensure they are adequately protecting their real estate investment, while allowing time to shop and get the best possible deal.

Getting more than one quote is recommended since homeowner’s insurance rates are really fluctuating with the national catastrophes seen in recent years. It’s a good idea to get your first quote and then use that quote to ask the next insurance company to give you an apples-to-apples price comparison. You’re likely to have different insurance companies explain aspects of the other company’s proposed policy that could leave you under-protected. Knowing your options is always a good thing and you can count on many differences from one insurance carrier to the next.

You’ll want to know what level of replacement coverage you’re being quoted and also check closely into whether you are being quoted enough personal property protection. If your home burns down, you’re going to have to replace more than just the home. Also check into matters like whether hail damage to your roof will be covered and how much it would cost to add flood insurance to your homeowner’s insurance policy. Few people in the Kansas City area have earthquake insurance but with the recent earthquakes felt from neighboring states, it might be worth checking into. Though the Kansas City area hasn’t had a major earthquake since before the turn of the century, the recent trembles felt in the area could be a good reason to check into earthquake coverage, which likely would cost you less than $10 a month.

If you’re ready to start shopping for homeowner’s insurance for your home in Overland Park Kansas, Kansas City and the surrounding metro area, here’s some links to get you going… State Farm Insurance, All-State Insurance, Farmer’s Insurance, GEICO Insurance, Nationwide Insurance, American Family Insurance.


Posted by Jason Brown

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Lower Kansas City Mortgage Interest Rates Lead To Surge In Mortgage Applications

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Checking The Pulse Of The Kansas City Real Estate Market

Kansas City mortgage interest rates have fallen drastically the past week and the result is the popular 30-year fixed rate mortgage loan has dropped from a 4.57% national average to 4.45%. These are the lowest mortgage interest rates we’ve seen all this year. Not surprisingly, the Mortgage Banker’s Association reports that mortgage loan applications jumped an astounding 7% over the past week.

Many economists feel home prices have bottomed out or will bottom out this year. Couple that with today’s low interest rates and this could be the best time ever to buy a home. Home buyers can certainly lock in an unbelievably low mortgage payment for years to come. Even if the real estate market encounters a slow rebound, first time home buyers will still be able to enjoy the pride of home ownership, a monthly payment lower than many rental payments, and building of long-term net worth when property values start rising again.


Posted by Jason Brown

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