Urban Living Center

Low balling sellers became a common practice over the last couple of years but now it’s really not an option. The real estate market is changing and it’s interesting to watch here in Kansas City and compare stats nation wide. Real estate in Kansas City has never suffered from the speculation that other markets did and therefore plenty of home owners who are in good locations, have been able to receive close to what they needed out of their homes. A year ago I was recommending buyers go in about 20% less than asking price when we made offers. We would usually land somewhere in the middle. In the last couple months it’s been about 10% and now we are are down to 5% or less. Sellers are getting a better grip on the market and letting their homes go for nothing is quickly becoming a practice of the past… the past recession that is.
Check out this link from the Washington Post on what they are seeing nationwide.

Life on the The Country Club Plaza in Kansas City is pristine. Modeled after Seville Spain, you can enjoy the Spanish Italian architecure while also enjoying green spaces like the Cancer Survivor Park and Loose Park. Brush Creeks adds the water element that calms the surrounding area with fountains.
Check out this condo with some of the best views in town. Low HOAs allow this to be the perfect vacation spot.
You would love living here!

Everyday I’m asked about the local real estate market in Kansas City. Written below is the insider information that we in the industry use when negotiating home prices. Kansas City is no different from any other city, in that when the stock market is up, interest rates are up. When employment is up, more homes are purchased. Over the last four months, we’ve see a shift in the real estate market throughout Kansas City for the good. I’ve personally been in several multiple bidding situations, that we didn’t expect and rarely ran into a year ago. Getting a great deal on a home is Kansas City is becoming a thing of the past. If our current market trends continue we are headed into a housing shortage. Yes, the ecomony crashed, but students still graduated from college, couples still had babies, and empty nesters still downsized into their new patio homes. The need for housing is still going strong. We are too accustomed to having our own homes for this American trend to change. If we moved back home after foreclosure, we are now on our way out. Market knowledge is priceless and we are here to help you along the way and to share it with you.

The average existing home sale price in March 2012 was $143,354. March 2012 existing home sale price
($143,354) is 3 percent above the March 2011 ($138,365). The average new home price in March 2012 was $316,036. The average new home price in March 2012 ($316,036) is 3 percent above the March 2011 average new home price ($305,853). March 2012 average sales price for new & existing homes ($156,945) represents a 4 percent increase over March 2011 ($149,984).
March 2012 existing homes sales (1,980) represent an increase of 14 percent over March 2011 home sales (1,744). March 2012 new home sales (178) were 27 percent higher than March 2011 home sales (140). Combined homes sales for March 2012 (2,158) were 15 percent higher than March 2011 totals (1,884).
March 2012 existing home inventory (13,045) is 15 percent lower than the March 2011 existing home inventory (15,323). March 2012 new home inventory (1,169) is 21 percent lower than March 2011 existing inventory (1,485). March 2012 inventory for new & existing homes (14,214) represents a 15 percent decrease from the March 2011 new & existing home inventory (16,808).
Supply for combined new and existing homes in March 2012 was 7.2 months of supply. A 7.2 month supply represents only a slight buyer’s edge for combined new and existing homes.

Contact me if you have any questions, comments or concerns. I’m here to help you with all your Kansas City real estate needs.

Heather Cook 913.499.9011 heather.cook@coldwellbanker.com

Just about everyday I walk into “someones” home. Who they are makes little difference to me, but what does, is if the joint is appealing or not. We all know that stained carpet with dirty windows, broken tile and holes in the sheetrock are eye sores, but what really catches our attention? Do we have to modernize everything? By the way, what is the hottest new trends and in what room do I remodel? Sellers always have a handful of questions and I believe this may help to get your home ready to SELL!

-Get your home inspected.
You need to know whether your home will go VA, FHA, Conventional or only CASH! Over 85% of home buyers only quality for FHA loans. Are you going to eliminate a majority of your potential clients because you decided to do landscaping instead of fixing a bad roof?
-Shape up before marketing. Many days I walk into houses and they are just missing the small things. A cracked piece of tile, baseboard missing, maybe a cracked window in the garage. Fix the small things. It’s the small things in life that matter.
-Advertise. Over 90% of buyers find their home online. List your home with a Realtor that is going to take pictures that make sense. There is nothing more frustrating when I’m checking out a place online and the pictures are blurry or confusing. Your Realtor should take the time to take good pictures and label them correctly.
-Interview real estate agents. Don’t just select a Realtor because they have signs in the neighborhood. One thing I like point out when sellers bring up seeing others signs in nearby yards, is that my signs don’t sick around, because I get the homes SOLD!
-Set a price with your Realtor. Work with your Realtor when setting a price. If I go into a home and the sellers are stuck on a price that they think their home is worth and it’s no where close. It’s a lose-lose situation. I can list your home for that price, but it only hurts you for it to sit on the market for months on end. Understand the comps and work together to get your home sold for the best reasonable amount.
-Get rid of the junk. You have to let it go… okay only for a little while. Rent a storage unit, live with the minimum. You might actually like it. The real point is… homes simply feel smaller with the more stuff they have in them. Clear it out, leave only the essentials.
-Stay on top of the market. Your Realtor should know what is going on in your neighborhood and keep you updated. Even after I help a buyer acquire a new home, I set them up in MLS where they can monitor their neighborhood activity. Not only is this interesting because we are curious creatures, but it also allows you to keep track of property values in your area and dispute tax hikes.

Although there are more ways to get your home sold, I as a full time, experienced Realtor consider these the most important steps.

If you have any questions, concerns or comments, drop me a line.
Heather@kchomerealty.com

A wonderful opportunity to own a piece of history. This elegant, 3 story, center-hall plan, home is over 100 years old, on a large, tree filled, corner lot, in charming Hyde Park. 5,500 square feet, plus a huge basement, 5 bedrooms, 3 sun rooms, 3 fireplaces, a ballroom, 2 staircases, gorgeous woodwork throughout, plus a rented carriage house. 2 car garage, lots of intricate details. Easy to see. Priced to sell!! $499,900.

Call me today if you are looking to buy a home in Kansas City. Realtor Heather Cook 913.499.9011 or email me at heather@kchomerealty.com. www.kchomerealty.com

You can’t pick your family, but you can pick your colors and style at Quality Hill Square. Completely remodeled condos starting at $89,000. 2 bedrooms $99,000. Private secured parking. YMCA gym with pool membership available at discounted prices. Walk to work in Downtown Kansas City Missouri. To read more about the neighborhood of Quality Hill, please visit my neighborhood page here.

Thinking of building in the Kansas City area? News from our local builder-broker with over 40 years of experience. Something to think about!

Building Success 101

Q: Have building materials followed the downward trend of home prices?

A: Unfortunately, no. When the housing downturn first hit in 2008, building materials suppliers were left with a large surplus and production capacities (much like their builders), so they dropped prices to sell off inventory. Since then, they have slowed their production and lowered their inventories to serve a much smaller building demand – allowing them to raise prices for their products. At the same time, they have been hit with greater transportation costs (gas prices), more government regulation, and other costs that also affect pricing.

Where’s the Value? New Homes, Existing Homes, Short Sales or Foreclosures

In the Kansas City market, it may be tempting to buy a “short sale” or recently foreclosed home, especially one that was built during the recent housing boom and is being offered at a bargain-basement price.

But that strategy is full of pitfalls and potholes. It’s well-documented that owners of homes in foreclosure tend to neglect their property, knowing there’s no point in maintaining it. They are likely distraught and distracted at the prospect of being evicted from their home, and understandably might focus on more important things than fixing the gutters or repairing a leak.

The result is often a home in poor condition with extra expenses required to bring it back up to par, much less to your standards. After all, a home is the center of your family’s life, a safe haven, a shelter. Walking into a money pit of repairs and service issues — some of which you may not even know about until after you’ve moved in — threatens that security and quality of life. Is it worth the risk?

By comparison, a newly built home provides you with exactly what you want from the get-go. It reflects your specific needs now and into the future, as well as your style and other aesthetic preferences. It’s fresh, unblemished, and ready for making memories.

A new home offers other advantages over an existing home, and especially a short sales or foreclosure, including:

Better Quality. As a professional builder, we are dedicated to delivering a high level of construction and finish quality in our new homes. Not only do buyers demand that our homes be better-built (and rightly so), but we also have the knowledge, skill, strong trade partnerships, and commitment to continually evaluate and refine our building practices and materials to improve that high level of quality.

Better Plans. We and other quality builders were offering “customization” long before it was necessary to satisfy or attract potential homebuyers. That means we work closely with you to determine your needs and find a floor plan and house style that matches your tastes and lifestyle requirements.

The result is a floor plan that is uniquely yours: functional, comfortable, flexible, and efficient. Trying to find exactly what you want and need in that regard in a foreclosed home or older house is unlikely, and probably would require remodeling.

Better Technology. Today’s homes and their occupants demand a high level of technological capability and convenience. Personal computers and other electronics have become part of our daily lives. Homes now require a “future-proofed” design that won’t become obsolete anytime soon, everything from a docking and sync station for smart phones to a network of cable and communication wire for flat-screen televisions.

Technology is moving so quickly these days that few homes built even five and certainly 10 or more years ago simply can’t compete on that level, leaving you and your family wanting (and needing) more. Current wiring and wireless networking systems are available and increasingly affordable … ready for the foreseeable future.

Better Service. If the recession taught the building industry anything, it’s that customer service needed to be improved. Existing homes, bank foreclosures, and short sales offer zero service after the sale.

Meanwhile, a professional builder offering a new home tailored to your needs — especially a company that survived the downturn — is well equipped and eager to make sure the experience is satisfying from start to well past the finish, giving you peace of mind and the highest quality living environment.

Building Kansas City Lifestyles for Over 40 Years,

John H. Moffitt, Jr.
President
Moffitt Development Co.
Coldwell Banker John Moffitt & Assoc.
5300 College Blvd.
Overland Park, KS 66211

When listing a home, often people are overwhelmed by the things I suggest they do to get the property sold. This article is great advice to consider when thinking of selling.
Another suggestion is to have someone with a fresh set of eyes come and give you and honest opinion, then it’s not so shocking when the realtor shows up.

expenditures of money or time to sell your home quick!
By Liz Pulliam Weston
You don’t have to spend a fortune renovating your house to ensure a quick sale at the best price. Some of the most effective fix-ups are also the cheapest.
Spending just $400 to $500 on fresh landscaping, for example, can boost your home’s value by $1,600 to $1,800, according to a survey of real estate agents conducted by HomeGain, an Internet real estate service. Spend another $300 on cleaning and de-cluttering your home, the survey found, and you could add another $2,000 or more to the sale price.
To pinpoint the projects that make the most sense, start by touring your property with fresh eyes, as if you were a prospective buyer. Drive or walk up to your house and see how it appears from the street. Walk through the front door and take a look around. You might ask a trusted friend to help you spot problems, clutter and weird smells that you’ve long since stopped noticing. Keep a pen and pad handy to list the projects that need to be done.
On the outside
Here are some suggestions for the exterior of your home:
Start at the sidewalk. Landscaping makes a huge difference in how people perceive your home. Whack back overgrown bushes and trees so your house is visible from the street. Plant colorful annuals in the flowerbeds. Keep the lawn green and trimmed, even if you have to hire a gardening service or a local teenager to help.
Revive a tired exterior. Painting exterior doors and window trim can freshen your home’s look without the huge expense of a complete exterior repainting. Shine or replace worn door knockers and hardware. Replace or remove torn screens or damaged storm windows. Make sure exterior lights are working and have fresh bulbs — some buyers like to cruise by your home at night to see how it looks.
Remove outside clutter. Get rid of anything that blocks pathways or clutters up side yards, backyards and patios. This includes toys, excess furniture and tools.
Clean your windows. You want your home to look as light and bright as possible. Dirty or spotted windows drag down a home’s appearance.

On the inside
Once inside, inspect your floors, walls, kitchen, bathrooms and closets — because your buyers will. Here’s what to tackle:
Dig out the dirt. You can do it yourself or hire a crew for a day, but a deep cleaning is essential for a good first impression. It’s also key to keep up the cleaning as long as your house is on the market, which will probably mean a daily dusting and vacuum session. Bathrooms and the kitchen should be kept spotless.
Banish bad smells. Air out your home by throwing open the windows at least once a day (or, in bad weather, by running all your exhaust fans). Don’t cook smelly or greasy foods, which linger in the house. If you have cats, clean the litter box at least once a day. Use potpourri or bake cookies before buyers visit to give your place a “homey” smell.
Remove inside clutter. You need to move anyway, so why not get a head start and make your home look larger by packing away at least one-third of your stuff? Stowing away knickknacks, mementos and family pictures helps depersonalize your home, which is actually a good thing: You want potential buyers to picture themselves living in your home instead of being distracted by your personal effects. Consider renting a temporary storage space rather than stuffing your packed boxes in your closets or garage, which will make them look smaller.
Organize what’s left. Tidy closets and pantries look bigger and more appealing.
Fix your floors. Real estate agents say buyers really notice the condition of floors. Hardwood should be polished and carpets shampooed or, if they’re in bad shape, replaced. Repair any broken tile or linoleum.
Brighten your walls. If you’ve painted or wallpapered in recent years, you may be able to get away with just washing your walls. Otherwise, consider repainting your rooms in neutral colors.

Beware the big projects
What about bigger projects, such as a kitchen update, a new roof or upgrades to an electrical system? Generally, you won’t get your money’s worth from these projects, but here’s what you should consider:
Remodeling is for buyers, not sellers. Major renovations usually don’t pay for themselves, let alone add enough value for you to make a profit. So why would you want to go through the hassle and expense right before you move? Concentrate instead on smaller fixes with bigger impact, and let your buyers remodel to suit.

Beware of deferred maintenance. Buyers expect your home to be in decent shape. That means a roof that doesn’t leak, paint that isn’t peeling and household systems (heating, cooling, electric and plumbing) in good repair. If you’ve neglected your home, you face a tough choice. You’re unlikely to recoup much of the cost of your repairs in the form of a higher sales price, since buyers are unlikely to pay you a premium for maintenance you should have been doing all along. Yet not making the fixes may turn off buyers altogether. Talk with an experienced real estate agent about which projects you should tackle before listing your home.
Consider a pre-sale inspection. Hiring your own inspector before you put your home on the market can alert you to problems you didn’t know about, giving you a chance to fix them before they complicate — or ruin — a potential sale. If the repairs are expensive, you may face the same difficult choice described above. But that’s better than being surprised once your home is in escrow.
Liz Pulliam Weston is the Web’s most-read personal-finance writer. She is the author of several books, most recently “Your Credit Score: Your Money & What’s at Stake.” Weston’s award-winning columns appear every Monday and Thursday, exclusively on MSN Money.

John knows Kansas City, John knows Real Estate. Check this out!! Interview with Kathy Quinn Fox 4 News

Interview with Kathy Quinn FOX 4news

Although only a few of our Urban Living Center peeps showed up today, they are a great bunch. Always keeping up with the most recent market information. We meet every Tuesday morning to float ideas and share our buyers and sellers desires.

Feel free to contact me for any of your Real Estate needs. Heather Cook 913.499.9011