Tag Archives: Overland Park Real Estate

If You’ve Been Holding Off On Selling Your Johnson County KS Home, NOW Is The Time

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Checking The Pulse Of The Kansas City Real Estate Market

What kind of Kansas City real estate market are we heading into this spring? The demand for homes is high, the supply of homes is low and new home construction is returning to be a player in our local market. Homes are selling in Kansas City, Johnson County Kansas, Overland Park and the surrounding areas at prices not seen since 2007 and nationally homes sales are up more than 9% for the year.

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The supply of homes is low, so low in fact that we’re having trouble locating homes for many buyers. This is the reality of it, though I expect the typical influx of spring listings will go a long way towards satisfying home buyer demand. If you are thinking about selling, or if you’ve held off selling attempting to wait out the real estate downturn, now is the time to sit down with us, go over your situation, and let us get to work getting your home sold. Appropriately priced homes are selling within 30 days.

Nationally, the supply of homes is down more than 20% from this time last year and at a level not seen in EIGHT years.  I’ve seen new home starts sprouting up across the metro and we’re seeing brisk sales in new home communities that had struggled mightily the past several years. Something to consider for resale sellers, the more builders that get back in the market, the more competition it is when selling… And all things being equal, buyers will choose a new home over a resale home. With interest rates so low, now is truly a better time than any in recent memory to be selling a home and making a move.

Posted by Jason Brown

Overland Park Kansas Real Estate Market Update – February 2013 Update

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Checking The Pulse Of The Kansas City Real Estate Market

Overland Park Kansas Real Estate Update
Recent Real Estate Market Activity In Overland Park KS

Looking at the past 15 days of real estate sales activity in the city of Overland Park Kansas and comparing it to the current volume of homes for sale in Overland Park, we find there’s 5.4 months of inventory in the city. This amount of inventory indicates a balanced real estate market in the Overland Park and the average new listing the past 15 days came on the market around $265,000.

Type # Average $ Avg DOM
Listings Past 15 Days 158 $264,597 —
Total Active Listings 531 — —
Newest Contracts Written 145 $275,443 57
Sold (closed) Past 15 Days 49 $265,354 97

* 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 average home sold (closed) in Overland Park the past 15 days had a sales price of nearly $265,000 and was on the market 97 days. If you are considering buying or selling a home in Overland Park, please contact us with any real estate questions you have or to request market stats specific to your area of interest. You can also find more details here regarding selling an Overland Park Kansas home and with buying an Overland Park Kansas home.

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Posted by Jason Brown

 

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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Overland Park Kansas Real Estate Market Update – December 2012 Update

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Checking The Pulse Of The Kansas City Real Estate Market

Overland Park Kansas Real Estate Update
Recent Real Estate Activity In Overland Park KS

Using the past 15 days of real estate sales activity in Overland Park Kansas to calculate the city’s absorption rate, we find there’s 3.4 months of inventory currently on the market. This amount of inventory is considered a seller’s real estate market in the city of Overland Park. The last 87 homes sold (closed) in Overland Park Kansas were on the market an average of 87 days and had an average sales price of nearly $249,000.

Type # Average $ Avg DOM
Listings Past 15 Days 77 $293,453 —
Total Active Listings 585 — —
Newest Contracts Written 71 $247,794 72
Sold (closed) Past 15 Days 87 $248,654 114

* 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 average new listing the past 15 days came on the market around $293,000. If you are considering buying or selling a home in Overland Park Kansas, my group can help you through the real estate process. Find more details here regarding selling an Overland Park Kansas home and buying an Overland Park Kansas home. If you have specific real estate questions, don’t hesitate to contact us for assistance.

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Posted by Jason Brown

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Overland Park Kansas Real Estate Market Stats – October 2012 Update

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Checking The Pulse Of The Kansas City Real Estate Market

Overland Park Kansas Real Estate Update
Recent Real Estate Activity In Overland Park KS

Using the past 15 days of real estate sales activity in Overland Park Kansas to calculate the city’s absorption rate, we find there’s 4.1 months of inventory currently on the market. This amount of inventory is considered a seller’s real estate market in the city of Overland Park. The homes sold (closed) the past 15 days in Overland Park had an average sales price around $284,000, while the average new listing came on the market at nearly $318,000.

Type # Average $ Avg DOM
Listings Past 15 Days 132 $317,924 —
Total Active Listings 705 — —
Newest Contracts Written 129 $263,587 78
Sold (closed) Past 15 Days 87 $283,505 104

* 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 homes sold the past 15 days in Overland Park averaged 104 days on market. If you’re considering buying or selling a home in Overland Park we can provide you market stats on any specific subdivision. You can also find more details here regarding selling an Overland Park Kansas home and with buying an Overland Park Kansas home. Please contact us with any questions.

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Posted by Jason Brown

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Overland Park Kansas Real Estate Market Stats – October 2012 Update

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Checking The Pulse Of The Kansas City Real Estate Market

Overland Park Kansas Real Estate Update
Recent Real Estate Activity In Overland Park KS

Using the past 15 days of real estate sales activity in Overland Park Kansas to calculate the city’s absorption rate, we find there’s 3.7 months of inventory currently on the market. This amount of inventory is considered a seller’s real estate market in the city of Overland Park. The last 102 homes sold in Overland Park were on the market an average of 82 days and had an average sales price of nearly $245,000.

Type # Average $ Avg DOM
Listings Past 15 Days 145 $287,045 —
Total Active Listings 755 — —
Newest Contracts Written 122 $266,337 73
Sold (closed) Past 15 Days 102 $244,575 82

* 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.

122 additional homes went under contract the past 15 days and did so at an average sales price of more than $266,000. The real estate market in Overland Park remains solid and if you are making plans to buy or sell a home in Overland Park, my real estate group can help you achieve your goals. We provide expert representation to home buyers and sellers on a daily basis and you can find more information here regarding selling an Overland Park Kansas home or with buying an Overland Park Kansas home. Please contact us for assistance.

Overland Park Kansas Relocation Guide

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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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