Details, details...a short blog entry regarding details for the $6500 tax credit for current homeowners.

If  you have lived in your current residence for at least five years and you buy a new home, here's a brief rundown of the requirements for the credit:

*Effective date:  11/6/09

*The contract on your new home must be binding and effective by April 30, 2010.

*You must close on the new home by July 1, 2010.

*Income limits:  $125,000 single person, $225,000 married couples.

*Purchase price of your new home must be $800,000 or less.

*You do not need to sell your current home to claim the credit but you must occupy the new home as your primary residence.  You can keep the first home as an investment property or second home.

*You must keep the home you purchase at least three years or a portion of the credit must be paid back.

Thinking of sellilng your current home and buying a new one?  Use the next couple of months to get your home 'show ready' to put on the market in January.  Start looking  now for the type of home you want to buy--visit open houses, look on line, interview realtors. Do your homework, be prepared and take advantage of this opportunity to upsize--or downsize--your primary residence while interest rates are low.

Need more information about home prices in your neighborhood?  Email me and I'll send them to you.

Thanks for reading my blog!   maryhutchison.org

This is traditionally the time of year when the new listings start to slow down...as we get closer to the holidays, potential buyers focus on other more pressing matters and sellers often decide to 'wait until spring' to list the house.  In addition, homes don't show as well during the cold winter months.

During this past Tuesday's realtor tour, I saw three houses worth a look--if only I had buyers for them!  Still, want to share them in the blog in case YOU happen to know someone looking in the Brookside/Leawood area. 

Who wants a Leawood ranch style home?  This one offers an excellent location, just off State Line and 83rd St.  It features a brick exterior and new roof.  Inside, it offers a large kitchen/family room area, three bedrooms, two full baths and a main level laundry, plus a patio off the family room and a two car garage.  This home could use a little  updating but is perfectly liveable as is.  Priced at $329,500--this home will only grow in value as the years go by.

Across the state line on the Missouri side, popular Brookside always has a wide selection of homes for sale--at different price points with various floor plans and features.  Bungalows are popular in Armour Hills, and this one on E 70th St is larger than it looks from the outside.  Updated throughout, this 3 bedroom 2 full bath home has a two car garage and a large master suite on the second floor. The original trim woodwork is not painted and it can come across as a bit dark on the inside.  But for the price ($225,000) and location, it's a good buy.  In addition, I have friends on the block--friendly neighbors are included with the purchase!

                           Finally, another Brookside home on E 72cd Terrace.  This tudor style two story is two bedrooms, one and a half baths with a one car garage for $188,000.  There is a small office room on the first floor and a small eat in kitchen, with a deck in the backyard. Decor inside is shabby chic, and although you can't see it from the picture, the walkway up to the house is very attractive  work.  Walk to restaurants and other services on   Gregory from this home.                                                                       

(OK, my formatting on the blog isn't the best and I'll have to work on it.)  Please note, these homes are not my personal listings but I have toured them and feel they are nice properties to show.  If you are interested in looking at homes on line, email me what type of home you are looking for and I'll set you up!  Thanks for reading my blog; comments welcome.

A catchy title to this blog entry....so what's the catch?

With the federal $8000 tax credit expiring in a few weeks, I wanted to talk about another program, available in Kansas City MO only, for first time buyers.  It's called the KC Dream Home Program and one of my buyers used it this summer to purchase a house in Waldo.

Here's the good news:  this program will give eligible buyers CASH for down payment and closing assistance to purchase a home in the KCMO city limits.  This money is actually a 'loan'--but you don't have to pay it back if you live in the home ten years.  More on that later.  The amount available is up to 20% of the purchase price of the house, maximum $20,000.  Other requirements are:

• You must be a first time homebuyer
• Income guidelines:  up to $39,400 for a single person, $45,050 for 2 persons.
• The home must be priced under $150,000
• You must attend a homebuyer's workshop (usually on a Saturday)
• A KCMO inspector must inspect the home before closing
• There's lots of paperwork to complete (of course)

Your lender  can ask  for the money  AFTER you have a signed contract to purchase a home.  You can fill out the paperwork BEFORE you buy a home.  Buyers are not guaranteed they will receive the funds--there is only so much money in the pot to go around.  But it's worth checking out if you are serious about buying a home. A 20% loan from the City could eliminate your monthly PMI costs and effectively lower your monthly payment. 

Now about the 'loan'.  At closing KCMO will give your lender a check for the loan amount you qualify for. 10% of the loan is 'forgiven' every year..so if you live in the house ten years, you don't owe the city any money.  If you move after 5 years, you will owe 50% of the money that was 'loaned' to you. 

Typically it takes 45-60 days to close a home purchased with the help of the KC Dream Home Program. I was actually surprised at how relatively easy the process was when my buyer used this program this summer. It's worth it if you are willing to put the time into completing the paperwork and attend the workshop.  If you would like more details about the program, email me

Thanks for reading my blog...your comments are welcome! 

"Let's look at short sale homes--I've heard there are some real bargains out there!"

How many times have I heard a variation on this statement this year??  I'm going to be very blunt and honest in this blog regarding the hassles of a short sale.  Buyers who think they can pick up a 'deal' need to be educated FIRST on what happens with a short sale transaction--and then decide if it's worth the hassle. Especially the first time buyers!

1)  Know what a 'short sale' is.  The owners of the property have spoken with their lender regarding the hardship of making the monthly payment.  The lender agrees to accept LESS than the full balance of the mortgage.

2)  Know that there can be more than one lien on the property.  That means that all banks with a stake in the property have to agree to take less than what is owed, not just the first/primary mortgage holder. All lienholders must sign off on the transaction.

3)  Know that there WILL be delays of  weeks, usually months, as the buyers wait wait wait to hear back from the lenders/investors regarding how much less they will take for their payoffs.

4)  Know that banks are overloaded with short sales and they are short staffed to deal with them...that is part of the reason it takes so long to get answers.  You are one buyer interested in one house--the bank may have hundreds of short sales to deal with at the same time.  Unlike agents, bank employees  do not work 24/7.

5)  Know that all the documents are screened by more than one party--the banks, the 2cd and 3rd lien holders, and the mortgage investors.  Quite often the second and third parties will hold up the transaction, trying to get a larger share of the proceeds from the transaction.

6)  Know that there can be more than one buyer making an offer on the same house--a bidding war may result. Offers from other parties can be considered by the bank at any time during the process.

7)  Know that although the buyer can and should have a professional inspection done on the property, it is likely that the seller will not have money for repairs or extra concessions, like seller paid closing costs.

8)  Know that it can be easier and faster to buy a foreclosed property.  Why?  Because the bank already owns it.  Foreclosures often have their own challenges--that's for another blog.

9)  Know that real estate agents often do not make a full commission on a short sale.  it takes ALOT of extra time and hassle to deal with a short sale.  Follow up calls, paperwork, little surprises that pop up all the time--for a deal that has maybe a 50/50 chance of closing. All agents work on commission--some agents feel it's not worth their time to deal with a short sale because of all the time invested for little -- or possibly no--compensation. Know that an agent only gets a portion of the  standard 3% commission from the purchase price, not the full 3%.

As a buyer, if you are mentally prepared to put up with the delays and hassles of a short sale--expect the worst!--then go for it.  For most people, finding the home you want and going through the normal sales process is stressful enough--it's such an emotional transaction.  Know the problems you'll encounter up front, be prepared to wait and quite possibly not get the house at all --and then decide if a short sale is worth it for  you.

Thanks for reading my blog.  Contact me or visit my website if you would like to talk about buying or selling a home.

Desireable Armour Hills is one of the largest subdivisions in the Brookside area, so I have decided to report each month on the home sales stats in my blog.  There are over 900 homes in Armour Hills, and as a resident myself, I like to track sales here.  Average sales prices have declined, still, there is always plenty of interest from buyers looking for homes.

In September 2009, two homes sold (that is, they 'closed') with an average price of $208,250.  By comparison, six homes closed in August 2009, with an average price of $231,671.

There are nine homes in Armour Hills that are pending (meaning, waiting to close) or on back-up status (meaning there is a contract on the home and the buyers are conducting inspections).  The average price of these homes is $287,272.

As of today, there are 27 homes for sale in Armour Hills, with an average price of $242,272. 

These stats reinforce the trend we've seen all year:  first time buyers are the majority of the market (as they buy the lower priced homes; the abundance of inventory pushes prices down; higher priced homes sit on the market longer; there are plenty of homes for buyers to chose from.

If you are a resident of Armour Hills, or are thinking of becoming one, email me for more detailed statistics of this market.  Comments welcome--thanks for reading my blog! maryhutchison.org

There is an interesting article in Time Magazine, posted today, titled "Reinventing the McMansion".  The story talks about how larger homes, in the 4000-6000 SF range, are languishing on the market with few interested buyers.  However, there are some intriguing new possible uses for these gigantic homes:  to house older children aging out of foster care or perhaps multi-generation families can share the space. 

The American Dream includes a home of your own--and during the real estate boom it was 'bigger and better'.  Families traded up to huge homes, newly built in the far flung suburbs, with soaring ceilings, a personal bathroom for everyone, separate 'media rooms' and large bedrooms with walk in closets. Is bigger really better?  I say no..and there is evidence that these McMansions are no longer desirable, even to those who can afford them.

There are practical reasons: large homes suck up a lot of energy, using more water, heating fuel and electricity.  Daily round trips to the office require more gas and time.  Even a trip to the grocery store or to 'the city' for a special event means more planning and time involving traffic hassles.  Families living in these large homes can often spend most of their time separated from each other--each child in his or her own little world tucked away in a bedroom, complete with personal TV and computer; Mom in the huge gourmet kitchen and Dad spending an hour on the highway to get home.  This lifestyle is alienating as well as expensive.

This recession has really brought home the fact that bigger is not always better in housing.  I have heard of many buyers who want to 'downsize'-- a 2000 SF home is plenty. They want lower utility bills and building maintenance.  And if the kids need to share a bathroom--well, they will adjust. Buyers want walkability in their neighborhoods--the ability to walk or bike to a restaurant or grocery store, to school or the park.  That's why homes in Brookside and Prairie Village will always be popular:  there's plenty of home styles and sizes to fit most any requirement, with schools and shopping within a short distance.  City amenities, too, are just a few miles away.  Sharing a smaller space can bring a family closer together--more interaction and sure, perhaps more arguments and compromising. 

If you have a smaller home, appreciate what you have and get creative with your current space to utilize it fully.  Buyers need to seriously think about the additional costs and change of lifestyle when considering a large home purchase.  There will always be more buyers for a smaller home than a McMansion.

Your comments are welcome...  email me or visit my website.  Thanks for reading my blog!

The National Association of Realtors is putting the pressure on our elected leaders to extend...and even expand..the $8000 tax credit/refund for first time buyers.  Currently the credit is due to expire on December 1, meaning the house sale has to be closed by November 30--which is the Monday after the long Thanksgiving weekend.  Buyers:  do NOT plan on closing that day!

Personally, just over one half of my sales so far this year have been first time buyers.  In 2008, it was well less than half.  So would those first timers have bought anyway this year, if the tax credit was not in place?  Some would have, sure, but most -- I don't think so.  I know the $8000 incentive pushed some fence sitters to sign at the X.  It's also interesting to note that the usual 'move up' market--meaning those persons buying their  second or third home--are not 'moving up' this year.  I've experienced that as well, as possible sellers feel they can't get what they want for thier house so they don't list it, or they list it but it doesn't sell, or they are upside down on their loan due to falling home values or--and I think this is a big reason--they are afraid of a layoff and don't want to risk a larger house payment.

Each of my first time buyers this year not only bought a house, but stimulated the economy in other ways along with it:  they bought furniture, appliances, lawn mowers, home decor; hired a handyman for various home fix up jobs; hired a mover, went out to eat, bought beer and pizza for the friends who helped with the move; you can see the domino effect here.  Perhaps best of all, these buyers realized their dream of home ownership much earlier than they once thought, and they are excited about becoming part of a neighborhood, taking pride in their home's appearance and creating a sense of community you don't have in an apartment rental.

These are the pros of the tax credit.  The cons of extending it?  The cost, of course.  It's going to cost almost twice the projected amount anyway--extending the credit and possibly expanding it will add more debt to all taxpayers.  But like the 'cash for clunkers' deal, the psycological effects of buying a new home can't be priced in dollars so easily.    Just about every buyer I talk with says 'we like to entertain, we like to have friends over'.  That' pride of ownership is worth more than $8K.

The current health care debate shadows everything else in Washington and the rest of the country right now...except unemployment benefits, which have to be extended every six weeks or so.  Don't count on the $8K tax refund extension.

One final word...if you are a first time buyer and you don't buy now--you'll probably regret it next year.  Chances are you won't get a better deal than you can now.

Thanks for reading my blog--comments welcome!  Email me or visit my website maryhutchison.org

A brief summary of home sales statistics for July, 2009, Kansas City area.  I've also included zip code 64113 and the Armour Hills subdivision.

Jackson County

Pending sales:  756, down from 972 one year ago.  11.65% down YTD.

Average sales price:  $137,086, up from $136,997 one year ago.

New listings are down 17.5% YTD,

Johnson County

Pending sales:  786, up from 712 one year ago.

Average sales price:  $243,639, down from $253,940 one year ago.

New listings up 2.8%, in July, down 13% YTD.

Zip code 64113 (the Brookside area)

23 homes sold in July, average list price $411,000*, average sales price $377,000*, with average days on market at 141.

Armour Hills subvision, 64113, Brookside

Three homes sold in July, average list price $224,000*, average sales price $203,000*, with average days on market at 97.

*all prices approximate

Commentary:  Johnson County homes weathering the slumping housing market much better than Jackson County.  The zip code 64113 stats are an average, with home prices ranging from $150K to over $1million.  To truly get a picture of 64113, you  to average sales within a 5 or 6 block area because of the wide difference in prices.  In Armour Hills, where prices generally run from $200K-$300K, the upper end of the market is difficult and the lower end is stronger--due to the affordability for first time home buyers.

Want statistics for your subdivision? Email me with your full address and I'll do the research!

Thanks for reading my blog.  Visit my website:  maryhutchison.org

The national media is blasting that home sales are up...compared to last year.  But what about prices?

Truilia is reporting that 25% of homes currently on the market have had at least one price cut. That's a national statistic. According to their stats,   Kansas City MO has experienced 25% increase in price reductions from June '09 to August '09.  CEO Pete Flint also remarked:  "The reality is, today's sellers need to price aggresively to avoid reductions.  Consumers are looking for value and when they find a good deal, they are taking advantage of market conditions'.  SO TRUE!

Sellers, here's the deal:  you can price to sell or you can price and 'wait and see' if someone bites at the over-reaching listing price.  This is the reality in today's market, but so many sellers don't want to hear it. LISTEN TO YOUR AGENT.  CHECK OUT THE HOMES NEAR YOU ON THE MARKET. ACT LIKE YOU ARE A BUYER. 

It always amazes me when I hear someone say "my neighbor/friend/father says I can get xxxx amount for this house and I'm not going to underprice it."  Is  your neighbor/friend/father working real estate every day of the week like an experienced, professional agent? No.  Does your agent want you to get the highest price possible for your house? Yes.  Who wants a quick sale? Agent and seller. And what is a quick sale today?  Within 30 days.  But buyers today are so different from the buyers of 4-6 years ago when the market was hot.  When a house would sell in two days. What's selling in two days now?  A house that is priced right, staged right, and appears to the buyer to be quite a deal! (w hy are foreclosures hot? Because of the pricing!)  I hear it all the time from every buyer:  I want a 'good deal'.  They know this is THE time to buy since it appears we are at the bottom of the market. Today's buyer will keep looking until they find that 'good deal'. And they will look at everything in their price range. As a buyer's agent, too, it's up to the Realtor to point out the 'good deal' to the buyer--and the homes that are overpriced for this market.

Sure, there is a lot of money at stake in a transaction. As a seller, you want the most from your sale. However, today's market favors the buyer.  And buyers know it.

It's frustrating for sellers and their listing agents to have a house sit on the market for months, knowing it would sell if it was priced right and shows well.  Sometimes it's the location that holds back a sale. Sometimes it's an abundance of inventory in a particular subdivision or area.  Most of the time today--it's  price that prevents the sale. (and i"m referring here to moderately priced homes, not the upper end high dollar market). There are buyers out there.  Take a look at your showings and the feedback, ask your agent--that will tell you what's holding back the sale.

Your comments are welcome! Email me or visit my website.

Actually, it's neither.

Rumors swirling around buyers, asking agents " I heard about a $15,000 tax buyer credit--I'm thinking of waiting to buy".  Let's hear the full story!

It's true that Senators Christopher Dodd (Conn-D) and Johnny Isakson (Georgia-R) have introduced legislation to 1) extend the current $8000 tax refund past the November 30 deadline, 2) increase the credit to $15,000 and 3) make it available to ALL home buyers, not just first time buyers. Senate Majority Leader Harry Reid supports extending the credit. 

As a Realtor, I would love to see the tax credit at the very least extended past the November 30 deadline. Here in the Kansas City area, sales of homes priced under $200K are what's hot--because those are the homes within reach of a first time buyer.  That's where most of my sales are this year. A $15,000 tax credit for all homebuyers?  Yea baby let's do it!

As a taxpayer,  I wonder about the chances of the extension and increase of the credit.  Today we hear the deficit will hit over $9 trillion dollars over the next ten years.  How would the extension be funded? By just adding more red ink to the deficit?  Would that get passed by the House and Senate?  Both sides surely agree about the impact for the economy with a strong housing market, but at what cost ? 

We're hearing that housing sales are up.  Yes for first time buyers, yes for foreclosures, but we need those second and third time buyers to feel confident enough to sell and buy.  SECURE JOBS are the key to that market.

Once the health care debate is decided, you'll hear more about extending the housing credit/refund.  And if it passes, the media will be all over it, just like the 'cash for clunkers' program. 

And unlike the 'cash for clunkers', a truly robust housing market will have a much bigger effect on the overall economy. 

Thanks for reading!  Comments welcome.  maryhutchison.org

The market is full of first time buyers now, scrambling to buy within the next couple of months and cash in on the $8000 tax refund from Uncle Sam.  This home, near UMKC, offers any homebuyer a great location, lots of charm, and an updated, move in ready interior.

5835 Cherry, Kansas CIty MO   Three bedrooms, one bath, newer roof, large closets, off street parking, close to UMKC and Brookside shops, $182,500.  Email me for more pictures and information!   maryhutchison.org

It's not as easy to buy or sell a house today as it was three years ago.  New rules and regulations, much needed, are popping up all over.  If you are buying or selling a home RIGHT NOW, you need to know about the new Truth in Lending law, aka Mortgage Disclosure Improvement Act.

What is Truth in Lending?  That is the paperwork with outlined estimated costs to the buyer for purchasing the home.  All closing costs are displayed, including tax prorations, insurance, escrows, APR, etc.   The Mortgage Disclosure Improvement Act (effective July 30, 2009) now requires a specific timetable for the buyer to review the charges. This Truth in Lending paperwork will come from your lender.

Once the buyer has a signed contract for a property, the lender must supply this TIL document.  This is for the protection of the buyer--so the buyer can review the charges associated with the purchase of the home well before closing. Note these deadlines:

• No loan may be closed prior to seven business days after the buyer receives the initial TIL statement. 
• If the loan terms change between the time of the signed contract and closing (due to inspections and/or renegotiations, change of closing date, etc), and these changes cause the APR to increase or decrease more than .125%, a NEW TIL statement must be prepared for the buyer's review. 
• The buyer must have this updated TIL statement for review at least three business days before closing.

Let's look at a couple of examples. If you have a contract to purchase a home for $150,000, your lender will send you an initial TIL statement based on that price and other terms of the contract.  After inspections, you and the seller agree to drop the price of the home to $140,000.  That's approximately a 7% price drop.  Therefore, your lender needs to write up a new TIL statement reflecting the charges that go along with the new agreed upon price.  And you have to have that statement for at least three days prior to closing.  Or, let's say the price doesn't change but as a buyer, you decide to close 3 weeks earlier than initially planned.  That is going to affect the interest paid, taxes paid, and other closing costs by more than .125%--so a new statement must be issued reflecting the updated numbers.

How does this affect the seller?  The seller better be sure that the buyer's lender is following these new rules correctly or there could be delays in closing.  And nothing is worse than last minute delays in closing--for either party.

Talk over these new rules with your listing agent and/or buyer's agent.  Your agent should be keeping up with these new regulations and keeping you informed at every step that they are being followed!

Thanks for reading my blog. Need information on real estate prices in your area?  Email me!

Today the New York Times reports that new home sales (that's new construction) have made their largest monthly gain in 8 years--up 11% in June.  Still, that's 21% lower than June '08.  These are national statistics.  In the Midwest, the paper reports new home sales are up 6% from one year ago.

Good news? Well...like most statistics, it depends on the spin!  Even in a 'down' market, most sales happen in the first six months of the year.  From July-December, sales slide.  And remember that 'sales' means a closed transaction--average time from contract to close is about 45-60 days. So most of these new home sales contracts were inked months ago.

Here's what's happening in my zip code of 64113--a very desirable area of Kansas City MO, full of older homes ranging in price from a fixer-upper below $200K up to nearly $1million:

From 7/1/07-6/30/08 there were 272 sales in this zip code, 133 homes sold at $299K or less. 

From 7/1/08-7/24/09, there were 228 sales, 161 homes sold at $299K or less.

It's good news that homes are selling because that reduces inventory, keeps prices stable, the market will balance out...eventually.  Another interesting fact is that in a normal year, 33% of home buyers are first time buyers; so far in 2009 that figure is 55%.  That is certainly true in my sales this year--many first timers, most sales under $250,000.  The market for $300-$400K homes  is much softer, at least in this zip code.  And if you are selling in that price range, the home better be HGTV Designed to Sell perfect. Buyers are VERY picky these days, want to see EVERYTHING in their price range, feel no urgency to buy (unless there is a specific deadline) and want to be sure they are getting 'a deal'. 

The Natl Association of Realtors is pushing to extend the $8000 tax credit beyond the current November 30 deadline and would like to see ALL home buyers eligible, not just first time buyers.  NAR predicts that if the tax credit/refund was extended, this could spur an extra 700,000 home sales next year.  Don't expect this extension, however.  President Obama is all about his 'health care coverage for all' getting passed first above all else.  Also, if the extension would happen it would have to be deficit neutral-- paying for itself by cutting somewhere else.

Parting words:  Sellers: know  your competition.  Chances are you will have to still compete on price for several more months.Make your house look like a 'good deal' for the price.  Outshine the competition with price and / or decor.    Buyers:  I predict there will be a rush of first time buyers in Aug, Sept and Oct who want to take advantage of the $8K tax credit.  Get out there and start looking NOW in the area you are interested in. Be READY to sign when you see something you like at the price you want..  As we get closer to that Nov 30 deadline--inventory for the first time buyer price range (generally $200K or  less) will shrink.

Need  sales statistics for your neighborhood? Email me and I"ll be happy to send you info!

Here's the news folks...once again the direction is down for sales and pending contracts compared to one year ago.

Johnson County

Pending contracts:  825, compared to 822 in Julne2008. 

Average price:          $257,929, compared to $263,763 in June 2008.

New listings:           1245, up from 1192 in June 2008.

Johnson County holding it's own in this overall slow market.  Not bad for sellers at all.

Jackson County

Pending contracts:  850, compared to 878 in June 2008.

Average price:          128,605, compared to $134,898 in June 2008.

New listings:            1622, compared to 1789 in June 2008.

Note Jackson County has many more foreclosures than Johnson County, which pushes down the average sales price.

Would you like statistics on sales in your own neighborhood?  Email me for the info!

It's summertime in Brookside and I'm loving it!  Yes it's hot and sticky, but I couldn't live in a city that didn't have the full change of seasons.  Despite the constant drumbeat of gloomy economic news, high unemployment rates, higher inflation and stalled economy, every day I'm thankful for where I live.  And here's why:

As a real estate agent, I often get asked about neighborhoods. And there are several great neighborhoods in the greater KC area.  But Brookside is special.  It's an area that continues to hold home values despite the reputation of the KCMO school district.  It's an area of singles, families, empty nesters, and older folks -- on every block!  And the home prices here range from a $150K fixer upper to $1million--all within a three mile radius.  And it's an area where all the houses are different.  Several styles of homes: tudors, two-and three story homes, bungalows.  Built up from the early 1900s to 1930s, there is a mix of styles and interior features.  Exteriors feature stucco, wood shingle, brick, concrete, tile roofs. 

More specifically, here's a few specific reasons why I love Brookside.  I was thinking of these special features when I was on a bike ride with my daughter last week...

Brookside is a walking neighborhood (although we do have excellent bus transit as well).  Even when it's 95 degrees with 100% humidity, you see people out walking the streets:  dog walkers (who actually pick up after their pets), kids in strollers and on bikes, folks walking with grocery bags or jogging on the Trolley Track Trail.  This encourages...

Interaction among strangers.   People here nod when passing others on the street, walking by, make space for bicyclists to pass.  Mostly everyone is smiling and enjoying the outdoors, acknowledging the community atmosphere.  And strangers can become friends--it's easy to see the same faces walking about at the same time of day, we are more aware of what's going on outside of our homes.

People make an effort to know their neighbors.  When I sell a house in Brookside, the buyers are often telling me how the neighbors came by within a day or two of moving in to welcome them to the block!  There can be an instant sense of community here. 

Many of the shops are locally owned. Sure, we have a Baskin Robbins and Mr Goodcents, but we also have Stuff and Worlds Window,a farmer's market,  the Roasterie Cafe, Avenues Bistro and Foos Frozen Custard...and who doesn't love spending time in The Dime Store?  Brookside residents support local businesses with their dollars and the local merchants support the community with donations in kind and attractive, clean  store fronts and landscaping.

Annual special events.  The St Patrick's Day parade, the Brookside Art Fair, July Sidewalk Sale--of course anyone in the KC area can participate but these small events again promote that sense of unity and friendship we share as Brooksiders.

Part of the magic of Brookside is the way the neighborhood is laid out.  Homes line all of the streets, there are no large parking lots cutting off pedestrians from the stores, parking is easy and speed limits are lower. We don't have cul-de-sacs or large, major traffic intersections or highway access close by.  Most homeowners take pride in maintaining and enhancing  their properties' curb appeal.  

If you are thinking of a move to the Kansas City area, consider Brookside as your next home.  You may never want to move again!

Thanks for reading my blog.  To contact me, send me an email or visit my website.

Need More Space?

This is it! A three story home on a lovely, wide, tree-lined street close to Loose Park, the Brookside Shops, UMKC and Stowers Institute and the Country Club Plaza.

Four bedrooms, three full baths, one half bath, two car garage, private drive, updated designer kitchen, newer roof, office space and family room!

Third floor features the large  fourth bedroom and it's own full bath.  Perfect for a guest, student, teen or nanny.  The sellers are ready to move--this is your opportunity to snatch a classic home in a highly desirable location.  $389,000--offers encouraged!  Contact me for a private showing.

                                                  maryhutchison.org

What Buyers Want --Home Buying Trends for 2009

OK, everybody knows the first home buying trend  "a good deal'!!  That's true no matter what the market.  But today's blog will focus on a few trends that buyers are looking for in today's market--and how you, as a seller, can focus on those trends in your home sale.

1.  Outdoor Living Space

      It doesn't have to be a showplace garden with the $10K outdoor kitchen and 500 SF patio...but most buyers want a comfortable outdoor living space--to cook out, entertain, relax and enjoy some green space.  A deck or patio showcasing a table and chairs, potted plants/flowers, space for a grill--all very desirable for today's buyer.  Make sure the deck is freshly painted or stained and the patio is free of leaves, sticks, debris, etc.  Have the table show off  with an eye catching flowering plant as a centerpiece and colorful, inexpensive chair pads.  Make this outside area in the backyard as inviting as the inside living space.

2.  Green and/or energy efficiency features

      If you have replaced windows, added insulation, installed energy saving appliances, or have a hi efficiency furnace--make sure potential buyers know that up front.  Have flyers ready inside the house outlining these features, along with average monthly utility bills.  Energy costs keep going up--show buyers that they can  save money because of your energy saving improvements.

3.  Less is more.

     This is a trend that I feel will extend beyond 2009--older couples and some families downsizing to less space in a house to keep payments and utility costs down.  Who needs a 3000 SF house for two people?  The struggling economy, job insecurity, depleted retirement and college savings accounts are causing all home buyers to rethink costs--and cut payments they can control.  However, these buyers still want the upscale features of the newer homes--updated kitchens and baths, desirable location and close to city amenities.  They know they can live just as well...in less space.

4.  Dedicated office space

     Just about everyone has a computer--some homes have several.  Buyers want a designated space for the computer--for the kids' homework, bill paying, social networking.  More companies allow employees to work from home.  Be sure your house has a office space or dedicated area to a computer, desk, filing cabinet.  Create a nook in the basement or a closet if you are short on space--and be sure this area is neat and clutter free.

5.  Security features

     Play up the fact that your home has a security system, outdoor cameras, motion activated exterior lights or any other feature that secures the home.  Women especially appreciate security systems, and it may provide the buyer with less home insurance premiums.

When you are selling your home, it's vitally important to showcase the features and benefits of your home above the competition.  Take a few extra steps to concentrate on what today's buyers are focusing on--and your home will rise above all others!

Thanks for reading my blog.  Please email me with any comments or suggestions. Maryhutchison.org

Here it is..part two of my blog regarding True Confessions....thoughts to share with other agents, potential clients and those interested in the (real)  life of a real estate agent.  These are thoughts I often have that I would like to blurt out at times...isn't that what a blog is for?

4.  Please be honest with me.  If you are considering listing your  house with me, and you chose someone else--please tell me!  You can be diplomatically honest and I want to know. It's like a job interview--when you tell me why I didn't get the job, I'll learn from what you say.  Same thing for buyers--if I give  you a few hours' time driving you around showing you properties (which I am happy to do one time before signing paperwork) and I contact you to follow up--please don't ignore me!  Just tell me you changed your mind, or you didn't think we clicked, or you're not ready--whatever the reason is, please give me the courtesy of a response. Although no one likes rejection, I'd rather hear what you honestly think.

5.  Don't be insulted when I ask 'have you talked with a mortgage lender?'.  The home lending business is quite different from what it was a year or two ago.  I am not asking because I want to know all the details of your personal finances. I am not asking because I doubt you are qualified to purchase a home.  I am asking for a few reasons:  are you comfortable with the payment you've been approved for?  do you plan on an FHA or conventional loan? do you have a sense of closing costs?  If you haven't visited with a lender yet, that's OK.  Don't be embarrassed or feel you have to rush out and do it. It's just something I need to know as we talk about the process and your plans to buy.

6.  I live this job every day..seven days a week. This is a fact for dedicated, service-orientated agents.  Please, listen to what I'm saying and know I'm telling you the truth, what the market is like right now, today.  Don't rely solely on what the national media reports, or what 'great deal' your friend of a friend got on a foreclosure, or the fact that your neighbor's house sold for full price in two days. Don't take it personally if your home needs some extra TLC or staging, if the recommended price isn't what you were hoping for, Every house is different, every market is different, selling in April is different than selling in November.  TRUST is vital in the agent-client relationship. If you can't / won't trust your agent, -- move on.

I may even be able to come up with a Part Three of True Confessions!  But that's it for  now.  Thanks for reading my blog--your feedback is appreciated.  Email me or visit my website, maryhutchison.org

This week's blog is a quick one...not Part Two of "True Confessions" as promised, but information on a new listing near UMKC and Stowers Institute in Kansas City.  "True Confessions" will return!

5835 Cherry...Three bedrooms, one bath, hardwoof floors, large eat in kitchen, fenced with back deck, close to Brookside shops, Trolley Track Trail and bus routes.  Quick possesssion, $182,500 email me for your private tour.  mary.hutchison@prukc.com

Here it is, folks...true confessions, part one.  I'm putting in writing a few thoughts that I want to say regarding a  relationship  with a real estate  agent,   Of course I try and express these sentiments with a bit more diplomacy when talking with current and potential customers.  Here in the blog, they will just tumble out...

1.  I want you to feel like you are my only client...but most of the time you are not. 

I so appreciate those customers who realize that I am usually juggling several clients at once, all in various stages of the buying and selling process.  So when a client calls on Thursday to ask "Can we look at a few  houses tomorrow?" -- chances are I already have my day planned with other appointments and obligations.  Try to give me as much notice as possible--or a few dates when you are free to look--and I'll do my best to make it happen as soon as possible!

2.  I can't answer this question:  Is this a safe area?  How much crime happens around here?

A good question, one that everyone asks when looking at a neighborhood.  However, crime happens everywhere!  If you want to know specifically how much crime is in a certain area, call the local police department or check out www.crimereports.com  .  No agent should represent himself as knowing how much crime happens in a particular geographical area. 

3.  I do not earn 3% commission from each sale. 

Sure, the standard commiision from a sale is 6%, which breaks down to 3% for the listing broker and 3% for the selling broker.  If I make a sale, the 3% goes first  to Prudential, who takes a cut.  Then, the government takes a cut with federal, state and local taxes. Another cut comes out to pay for expenses:  marketing, desk fees, technology fees, E&O insurance, office supplies, postage, copies, gas, etc. After the money trickles down to me, the total amount is usually 50% or less of the initial 3% commission. And sometimes I actually lose money--if I spend several weeks with a buyer who doesn't buy, or marketing a house that doesn't sell or is taken off the market--that's a loss because no sales transaction took place,  so no  income was earned.

Please know the point of this blog is not to complain--I enjoy my job!  And I really enjoy working with all different types of clients.  Some customers are more familiar with how a real estate agent works than others.  I feel it's good to bring these thoughts out there for anyone to think about who is currently using or plans to use a realtor.  Next week:  True Confessions Part 2!

Your comments are welcome email me or visit my website:  maryhutchison.org