Tag Archives: Shawnee Short Sales

Shawnee KS real estate market update ~ July 2019: View Shawnee home trends

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The Jason Brown Group

Shawnee Kansas Real Estate Update

There were 70 homes sold (closed) in Shawnee Kansas the past 15 days. Comparing that sales volume to the 152 homes currently for sale in Shawnee, the city has 1.3 months of inventory on the market. This volume of real estate inventory indicates a strong seller’s market in Shawnee and a shortage of inventory to meet home buyer demand in the area. The average new listing the past 15 days in Shawnee Kansas came on the market around a $300,000 list price and the average sales price of homes closed during the same time period was nearly $309,000.

Type # Average $ Avg DOM
Listings Past 15 Days 62 $299,585 —
Total Active Listings 152 — —
Newest Contracts Written 57 $309,524 26
Sold (closed) Past 15 Days 70 $308,949 65

* 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 70 homes sold in Shawnee Kansas were on the market an average of 65 days, while the most recent 57 homes to go under contract did so in 26 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 Shawnee Kansas home.

The Jason Brown Group provides expert home seller representation, helping home sellers maximize their real estate investments by selling quickly and for top dollar. We provide expert home buyer representation, helping home buyers locate the best available homes on the market, while providing guidance all the way through the real estate process. Learn more about how we can help you with selling a Shawnee home or buying a Shawnee home.

We look forward to helping you achieve your real estate goals… Contact Jason Brown today!

View homes for sale in Shawnee

Selling a Shawnee home

Buying a Shawnee home

Shawnee real estate info

View past market stats

Posted by Jason Brown

Shawnee KS real estate update ~ May 2019: Shawnee market stats and home trends

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The Jason Brown Group

Shawnee Kansas Real Estate Update

There were 31 homes sold (closed) in Shawnee Kansas the past 15 days. Comparing that sales volume to the 145 homes currently for sale in Shawnee, the city has 2.3 months of inventory on the market. This volume of real estate inventory indicates a strong seller’s market in Shawnee with sales continuing to move at a brisk pace. The average new listing the past 15 days in Shawnee Kansas came on the market around a $322,000 list price and the average sales price of homes closed during the same time period was nearly $304,000.

Type # Average $ Avg DOM
Listings Past 15 Days 83 $322,099 —
Total Active Listings 145 — —
Newest Contracts Written 72 $337,989 48
Sold (closed) Past 15 Days 31 $303,867 35

* 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 31 homes sold in Shawnee Kansas were on the market an average of 35 days, while the most recent 72 homes to go under contract did so in 48 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 Shawnee Kansas home.

The Jason Brown Group provides expert home seller representation, helping home sellers maximize their real estate investments by selling quickly and for top dollar. We provide expert home buyer representation, helping home buyers locate the best available homes on the market, while providing guidance all the way through the real estate process. Learn more about how we can help you with selling a Shawnee home or buying a Shawnee home.

We look forward to helping you achieve your real estate goals… Contact Jason Brown today!

View homes for sale in Shawnee

Selling a Shawnee home

Buying a Shawnee home

Shawnee real estate info

View past market stats

Posted by Jason Brown

Johnson County KS Short Sale Sellers Can Start Repairing Their Credit Score As Soon As The Short Sale Is Completed

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The Jason Brown Group

We’ve helped a lot of Johnson County Kansas homeowners with selling their homes in a Short Sale. A question we often get asked at the end of the process is, how long will it take before they can buy a home again? It had been two years in many cases, including FHA and VA loans, but recently FHA pushed the wait to 3 years. Guidelines are constantly changing and with so many mortgage options today, potential home buyers can call us and we’ll let you know what we’re seeing today’s market. We’re connected to many of the best mortgage lenders in the business and can quickly assess your financial situation and ability to buy a home. 

TmpThe biggest factor in being able to buy a home ASAP is to start improving your credit score as soon as the Short Sale has been completed. The #1 way to do this is to start paying all of your bills on time going forward. Your payment history makes up 35% of your Credit Score and you’ll need to show creditors that you are willing and able to pay all of your monthly bills on time. Until you can pay all of your credit card bills, department store credit bills and any/all other installment loans on time, you will continue to fight a battle with your credit score.

Credit scores range from 300 to 850 range and you’ll want to work to get your credit score up into the 700’s for creditors to start viewing you as a low credit risk. The lower your credit risk, the more willing a lender will be to give you a loan and the better the terms will be (i.e. lower interest rates). As for the rest of puzzle that makes up your credit score, 30% is how much debt you currently owe compared against the maximum amount of debt you could possibly have based on your current credit limits. This considers factors such as how much you owe on a credit card compared to the credit cards max limit, how much you currently owe on your mortgage compared to your beginning balance, etc.

The length of your credit history accounts for 15% of your credit score and considers how long you’ve had a credit card, how long you’ve had a mortgage, etc. If you heard of a great new credit card that you can’t pass up, you still will want to think twice about closing out your old credit card, because old credit is generally the best credit as far as credit scores go.  Accounting for 10% of your credit score is your credit mix, which looks at the different types of credit you use. Also, rather than getting two new credit cards at the same time, avoid a big shakeup of your credit by getting one new card, show a history of making payments on that card on time, and then add the second credit card. The last portion is how much new credit you have and this accounts for 10% of your credit score. Too much new combined credit, such as new mortgage loans, new credit cards, new car loans, new installment loans, etc. over a short a period of time will harm your credit score, temporarily at least.

 

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Posted by Jason Brown

 

10% Of Kansas City Metro Area Homes For Sale Are Short Sale Listings

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Checking The Pulse Of The Kansas City Real Estate Market

If you are upside down on your home or needing to sell and teetering on a break-even, it can be a very stressful time. If this is you, you’re not alone because around 10% of the homes for sale in Kansas City, Johnson County Kansas and the surrounding areas are Short Sales. We get calls all the time from people needing help in determining if they’ll be able to sell in a traditional sale or if they’re going to need to get short sale approval from their lender.

Seller’s who are upside and in a situation they need to sell, can bring the cash to closing to make the sale happen. This happens more than you may realize and is a way to save your credit and make the problem go away. But for the majority of seller’s who are upside down on their home, they don’t have the cash needed and they’ll need to get their lender on board with selling the home in a Short Sale. If you know someone who is facing losing their home in foreclosure, you can recommend they contact us to discuss the process and their situation. If we can achieve a successful short sale, the lender pays all the real estate commissions and many sellers are unaware of that important detail.

Anyone who needs to sell their home in a short sale will want to act quickly because the law that has allowed short sale sellers to avoid tax consequences is set to expire December of this year. If that happens, sellers could have tax consequences on the amount of the loan written off as a loss by the lender. I’m just a real estate agent so be sure to contact a tax adviser with all tax related questions. The average short sale is taking more than four months to complete, so if that tax law isn’t renewed, selling a home in a short sale next year will be less appealing than it is today.


Posted by Jason Brown

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Some Preliminary Aspects Of A Short Sale For Sellers And Buyers To Consider

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Checking The Pulse Of The Kansas City Real Estate Market

If you’ve been following along, you know that Short Sales can be a great alternative to foreclosure for homeowners who are upside down on their homes. But Short Sales aren’t easy and if you’re thinking of buying or selling a home in a Short Sale, there are a few things to consider before starting the process. For starters, sellers will have to accept giving up information to their listing agent that they’d be able to keep confidential in a typical resale transaction.


When dealing with Short Sales, the listing agent will need to be in direct contact with the seller’s lender and will need honest, accurate information from the seller if there’s any chance of achieving a successful Short Sale. Sellers should also consider they likely won’t be able to buy a home in the next 12 to 24 months. For buyers, Short Sale listings are often in better condition than foreclosure listings. That could mean saving thousands of dollars. Generally speaking, the condition of a Short Sale property will be some where in between a typical resale property and a foreclosure property. Same goes for the typical sales prices on Short Sales.

I don’t recommend a buyer or seller attempt selling in a Short Sale if they don’t have a lot of patience. It’s not an easy process. It might be 10 times harder than a typical real estate transaction. It can take 60, 90, 120… days to get word from the seller’s lender on whether they’ll accept a Short Sale. If you’re a buyer who needs a home that can close in a predictable time frame, just go ahead and eliminate all Short Sale listings off your list.

Also consider that the lender is going to rely almost exclusively on a Broker Price Opinion (BPO)  that it will order from a third-party real estate agent. If the value indicated in that BPO or appraisal is too high, the bank is likely to say no to the Short Sale and foreclose on the property (believing they’ll net more that way than by accepting the Short Sale). Don’t forget that the seller’s lender is under absolutely no obligation to accept a Short Sale – and thus a loss – on the home.

Another critical aspect of the Short Sale process is the listing agent involved. The listing agent is certainly the most important person in the transaction. Without a solid listing agent, a good buyer’s agent will be spinning their wheels. The listing agent is the only one who can contact the seller’s lender, so it’s worth checking with a listing agent before you make an offer to be sure the agent has a clue of how the process works.

Posted by Jason A. Brown

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