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Tuesday, April 22, 2008 7:03 AM

Many Kansas City Home Sellers Should Take Their Homes Off The Market

Kansas City Real Estate Thoughts...


One of the best things that home sellers can do right now to help maintain property values within their home community is to NOT sell. If their home is already on the market then they should consider removing it from the market immediately. While there are many sellers who must sell now, there are also a lot of sellers out there who are just testing the waters. This testing of the market further saturates the area with available inventory and compounds problems within our real estate market.  As I've said many times, the peaks and values of the Kansas City real estate market are comparable to the child roller coaster ride inside Oak Park Mall at the holiday season, with smaller peaks and values than the California Screamin' roller coaster.

So while it's much better to be here in Kansas City than many other areas of the country, we're still facing significant challenges in the Kansas City real estate market. And fewer homes on the market would help all homeowners with maintaining their property values. Think of it this way. If you live in a 200 home subdivision and there are 10 homes on the market, wouldn't it be better as a home seller if there were only 5 homes for sale? Indeed it would and the less supply of homes on the market now, the higher the sales prices will be in the short term. And there's a good chance that 5 of those 10 home sellers don't really need to sell right now anyhow. They are just testing the market. So you might ask, if 5 sellers remove their homes from the market, wouldn't that just help the 5 sellers who keep their home on the market? In the short term the answer is yes. But in the long term EVERYONE will benefit because the higher sales prices registered on MLS for the 5 current sales will be used as measuring sticks when determining property values within the community later.

Of course there are always going to be situations where sellers must get their home sold in a timely fashion. They may be  involved in a relocation and have no choice but to sell. There could be a death in the family that necessitates an immediate home sale. Situations similar to these are common but there are other selling situations that could possibly be delayed a while. A growing family may need to sell their 2 bedroom ranch home - but can they wait a while before doing so? There are empty nesters who need to sell their 2 story home to get away from the stairs - but can they wait a while before doing so? In our current market, home sellers who can wait will help the current home sellers and ultimately help themselves later.   


 

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Posted by Jason A. Brown - Jason Brown Premier Realty Group | 0 Comments
Wednesday, April 16, 2008 9:28 AM

Johnson County Kansas Absorption Rates & Months of Supply - Sorted By Price Range

Kansas City Real Estate Thoughts...


Johnson County Kansas - Residential Absorbtion Rates

Past Year's Stats Covering All Cities Located In Johnson County KS

Price Range

Sold Homes
(past 12 months)

Absorption Rate
(ave. # sold per month)

Active Homes
(currently for sale)

Mo's of Supply
(to sell all active)

$0 to $100K

265

22

74

3.4

$100K to $150K

1505

125

480

3.8

$150K to $200K

2624

219

874

4.0

$200K to $250K

1641

137

739

5.4

$250K to $300K

1077

90

531

5.9

$300K to $350K

666

56

350

6.3

$350K to $400K

525

44

312

7.1

$400K to $450K

329

27

219

8.1

$450K to $500K

241

20

189

9.5

$500K to $600K

281

23

285

12.4

$600K to $700K

150

13

160

12.3

$700K & Up

256

21

327

15.6

As you can see, the months of supply goes up as the price range gets higher. Taking the $250,000 to $300,000 price range for example, there are 90 homes being sold per month (on average over the past 12 months) and with the 531 homes currently on the market it would take about 6 months to sell all of these homes. Keep in mind that if the number of homes sold per month picks up then the months of supply will start to drop. Also keep in mind that the months of supply is based solely on past statistics and has nothing to do with new listings that come on the market in the coming days or months. It simply shows us how long it would take to sell the current homes on the market, using the absorption rates over the past year.

 

START RECEIVING AUTOMATIC EMAIL UPDATES OF MARKET ACTIVITY IN YOUR AREA OR YOUR DESIRED PRICE RANGE!

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1) In the Subject line please put "Receive market updates".
2) In the Comments section please put the price range and area you are interested in.
3) We provide this as a courtesy and valid contact information is required. We won't call you unless requested to do so.

Once completed you will receive an up front email catching you up with the current market activity and thereafter you will automatically receive an email updating you whenever (1) a new listing hits the market, (2) the price changes on a currently listed home, (3) the status of a home switches to Pending, or (4) when the status of a home switches to Sold (closed)!


Our readers are welcome to comment below...


 


 

Jason Brown Premier Realty Group Home Page  |  Kansas City Homes For Sale  |  NEW Listings Only  |  Selling Your Kansas City Home  |  Buying Your Kansas City Home  |  Relocation To Kansas City  |  Kansas City Luxury Homes  |  First Time Kansas City HomeBuyers  |  Kansas City New Home Construction  |  Kansas City School Info  |   Kansas City Real Estate  |  Overland Park Kansas Real Estate  |  Southern Overland Park KS Real Estate  |  Lenexa Kansas Real Estate  |  Western Lenexa KS Real Estate  |  Olathe Kansas Real Estate  |  Shawnee Kansas Real Estate  |  Leawood Kansas Real Estate  |  Gardner Kansas Real Estate  |  N/E Johnson Co. Real Estate  |  Keller Williams Realty  |  Choosing A Kansas City Realtor  |  About Jason Brown  |  Contact Jason Brown

Posted by Jason A. Brown - Jason Brown Premier Realty Group | 1 Comments
Thursday, April 10, 2008 9:51 AM

Potentially Great Deals Can Be Found On Upper Bracket Johnson County Kansas Homes For Sale

Kansas City Real Estate Thoughts...


There are many types of Kansas City real estate investment opportunities out there and they're not all the $125,000 and under cash flowing type properties. For investors and home buyers who are searching for potential deals on upper bracket homes, we went searching the Kansas City MLS for homes listed at more than $300,000 and which we sensed could be great deals. We were looking for listings that were noted as foreclosures, REO properties, corporate owned properties, RELO properties, bank owner properties, homes being sold as-is or without a seller's disclosure present, etc. 

We found nearly fifty $300,000+ homes that appeared to have a motivated seller (owner, bank owned, corporate owned) and/or are being sold as-is, etc.  So there are a mix of homes here with some appearing to be in excellent condition and others appearing to be in need of significant repairs. It takes viewing a home in person and analyzing a particular communities market stats to be able to make any judgments.  We have attempted to eliminate homes that are being advertised as pre-foreclosures or short sales as those homes have such a low success rate for buyers.

Below are a few of the 50 homes we found and we can assist you as your buyer's agent on any of these. If you have questions about any of these and you would like to discuss having us go to work for you please let me know. As your buyer's agent I can provide you additional details, schedule a showing and provide you expert guidance all the way through the process. Here are few of the homes we found for sale on MLS that could be great deals...

Photo

Code #

City

Style

List Price

79092-141

Mission Hills

1.5 Sty

$400's

70520-541

Mission Woods

2 Sty

$400's

74885-541

Shawnee

2 Sty

$400's

73171-441

Leawood

1.5 Sty

$300's

70035-731

Lenexa

2 Sty

$500's

74971-441

Olathe

1.5 Sty

$400's

74864-641

Overland Park

2 Sty

$400's

74032-241

Leawood

1.5 Sty

$900's

78939-441

Overland Park

2 Sty

$300's

79486-141

Overland Park

2 Sty

$400's

72813-541

Leawood

2 Sty

$300's

77732-931

Olathe

2 Sty

$400's

76505-641

Lenexa

2 Sty

$400's

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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