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, $192,000...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

Planning some home improvements this year?  Get your share of the bailout money by investing in some energy efficient upgrades that can bring you some much needed tax credits (not tax deduction).

President Obama pledged to concentrate on energy conservation in his administration--and he's put the money behind the message in the form of tax credits.  These credits only last two years (2009 and 2010)--so plan now to take advantage of them. 

A tax credit lowers your tax bill, as compared to a tax deduction, which takes the amount off of  your taxable income.    You could earn up to $1500 in tax credits for adding energy efficient windows, doors, HVAC equipment, pellet stoves, roofs and insulation.  And of course...these improvements help the overall value of your home when it's time to sell.

Individual states may offer additional tax credits as well for the same improvements.

Check out these websites for additional information to be sure your planned improvements qualify:

energystar.gov                                energytaxincentives.org

andersonwindows.com                    boschhotwater.com

Thanks for reading my blog. If you would like to contact me directly, visit my website or email me.

As we head into the busy spring buying season for homes, here are the stats for February 2009--all figures compared to same time one year ago.

Jackson County:

Pending Contracts:                621  down 19.77%

Average Sales Price:             $108,081, down 11.5%

New Listings:                          1284, down almost 21%

Johnson County:

Pending Contracts:                480, down 25%

Average Sales Price:             $238,133, down 2.67%

New Listings:                          998, up 1%

Ample use of the word 'down' in these stats, but know this:  fewer listings means the market will balance out, as there is not that much new product coming on the market to choose from. However, history shows us that March through June is the busy buying season, so thisi is the time for buyers and seller activity.  First time buyers are jumping into the market with the lower interest rates and the promise of the $8000 tax refund.

For specific statistics on your neighborhood, email me with your  full address and zip code.  Comments on this blog are welcome, but I am unable to answer personally due to technical limitations.

Thanks for reading!

No matter what the market is like, up or down, there are some questions that are always the same:

Sellers--How long will it take to sell my home? 

Buyers-- How much do you think I can get off the asking price?

My job wouldn't be nearly as challenging if I always had the accurate and simple answer to those questions!

So, let's look at a few statements/predictions regarding  the real estate market  from the April 2009 issue of Money Magazine, including advice for buyers and sellers.

• If President Obama's stimulus plan works, home prices will bottom out this year.  If not--we'll be sitting out this slow market through 2011.
• Home values won't hit the peak pricing  of 2006 for another ten years.
• Kansas City area home prices should start to recover early next year.

How does this affect you if you are a buyer?  Depends on where you are buying in the Kansas City metro area. Generally, I feel the bottom of the market is here for those listings that have been languishing on the market for several months. They have to compete now with all the newer listings.  However, this is the 'spring market'--when most contracts are written.  You CAN get a good deal, even on a newer listing--be sure your agent is familiar with the area and knows the house isn't overpriced (many sellers think their house is priced correctly, when in fact it's overpriced for this current slow market).  Next week interest rates may hit below 5.0%--for those buyers with a 20% down payment and a credit score of 700+. Buy now if you can.  It will take a while for prices to recover--in the meantime you'll be building equity and reaping the tax benefits of home ownership.

And what if you are a seller?  Should you sell now?  Or wait it out?  That answer really depends on your unique situation.  Because we are in the spring market when most contracts are written, you have a good chance of getting lots of interest in your home now--especially if it's a home attractive to a first time buyer. Be sure it's updated, clean, has good curb appeal and is free of clutter. Be wary of comparing your home to what sold a year or two ago--when the economy was different.  If you are in a suburban market where there is lots of competition (Olathe, Lees Summit)--shop the competition in your subdivision and price your home a little lower. Make it look like a great value--you may get competing offers.  Know the positives and negatives of your home compared to the others.   Buyers now want to take advantage of the $8000 tax refund AND the low interest rates--those options may not be available a year from now.

Personally, I am experiencing a lot of activity right now in certain areas.  Many first time buyers are (cautiously) ready to buy now.  They know the tax refund and low rates are an unbeatable combination. Still, they want to feel they are getting 'a deal'--or at the very least a well maintained home that will appreciate in the next few years.  I hear a lot about downsizing these days--and not just from older folks who don't want the maintenance of a house.  I hear it from families and younger buyers who want to own but not break the bank doing so--with their investments shattered, they are planning to keep living expenses lower in the future, particularly in regards to utility and energy costs. Finally, sales are happening in those always strong areas of Brookside/Waldo and parts of Overland Park/Prairie Village. The trend of wanting to live closer to work, amenities,shopping,  bus lines and city life is still strong.

Sure the housing market is ...still on a downward trend...but like most situations, there's good news and bad news on both sides.  You have the power to decide which side is going to work for you!

Have comments on my blog?  Need information about your neighborhood?  Email me or visit my website, www.maryhutchison.org

It's been a trend over the past several years...parents with children in college purchase a home, rather than rent, for the duration of the college years.  This is a smart move, because home prices (generally) rise or at least stay stable  near college campuses.  Buy a home for your child, get a roommate or two, and in a few years you can actually make money off the sale!  Keeping in mind a few basic rules, real estate is always a good investment...now more so than ever, with lower prices and historically low interest rates.

Last week I toured a really cute home near UMKC--priced at only $125,000!  This two bedroom home features an attached garage, vaulted ceilings, hardwood floors, updated colors and decor, new copper plumbing and a newer HVC system.  It's a short bike or car trip to campus, the bus is always an option, and the home is a few blocks from  the Brookside shopping area. This house shows well and would be great for a college student/first time buyer.

Within the next two weeks I will list a house on Cherry near the UMKC campus.  This 3 bedroom home welcomes you with a relaxing front porch..inside you'll find hardwood floors, a full bath, large living room, dining room and eat in kitchen,  a deck in the backyard and a large master bedroom. The closets are larger too, for a  home in this area.  Once again, a great home close to campus for a student or first time buyer.

Remember the $8000 tax credit for first time homebuyers this year if the home is purchased before December 1!

Thanks for reading my blog.  Please email me directly if I can provide more information about these two homes.

Kansas City was home to one of real estate's most forward thinking developers, JC (Jesse Clyde) Nichols.  He developed commercial and residential properties in the Kansas City area, on both the Missouri and Kansas side of the state line.  His most well known achievement, the Country Club Plaza, was the nation's first shopping district built outside of a downtown area.  He called his method of development 'planning for permanence' -- and even in this depressed home market, many Nichols' subdivisions still hold up their value.

A 40 year comparison of average home prices in subdivisions that Nichols built show some interesting statistics.  For example, the average price of a home in Fairway, KS in 1970 was $25,600.  In 2008 it was $332,698.  Part of the genius of Nichols was  he would build small, medium and larger homes in the same subdivision--just a block or so away from each other.  This enabled different types of buyers with different incomes to live in the same subdivision--but all were restricted by covenants and the expectation that all homes would be well maintained.  Generally, his developments were conveniently located close to shopping areas, some within easy walking distance.  After all these years in real estate, I'm finally tackling a book about Mr Nichols to learn more about the man, his influences and his life.

The real point of this blog is to show a comparison of a few of Nichols' developments and how the prices have changed over the years. Note the 2008 average sales price and the percentage change from the previous year.

                                          1980              2000                 2007                    2008

Armour Hills                  67,900          159,892             237,255             223,304       -6%

Corinth Hills                 116,000         214,796             276,530              269,677       -2%

Fairway                           80,100          222,248             331,276             322,698       -3%

Prairie Village                54,400          134,901            195,512             199,125      +2%

Verona Gardens           130,500         217,667            267,606             269,775     +1%

Remember, all real estate is local.  Some subdivisions and cities hold their value better than others.  For an analysis of values in your neighborhood, email me with your address and subdivision name.

This week details on President Obama's Homeowner Affordability and Stability Plan will be released.  This is the program designed to help homeowners who are having trouble making payments prevent foreclosure and refinance their  loans.  Below is a brief summary describing the program:

Eligible borrowers who are current on their mortgage but can't refinance because of declining home values may be able to refinance into a 15 or 30 year fixed rate loan.  The loan must not exceed 105% of the current market value of the property.

The refinancing will not reduce the amount you owe on the mortgage.  The purpose of the Homewoner Affordability and Stability Plan is to help borrowers refinance into a more affordable fixed rate loan.  Reducing the interest rate should save the homeowner money by reducing the amount of interest owed.

Mortgage lenders will begin accepting applications after details are announced on March 4.  In the meantime, collect the information you will need to provide to your lender:  current pay stubs, most recent tax return, second mortgage information (f any), credit card balances and balances on any other loans, like student loans or car loans.

If you have two mortgages, this modification plan is only eligible for the first mortgage.

There are NO FEES to modify your loan under this plan.  Beware of any organization that attempts to charge a fee for housing counseling or loan modification, especially if they ask for a payment in advance.

To apply for this program, wait until after March 4 and contact your lender.  The lender will tell you if you are eligible.  Note that banks and housing counselors will be receiving a large amount of phone calls regarding this program, and it may take several weeks to get an answer or confirm eligibility.

Thank you for reading my blog.  Comments are welcome, email me anytime!

Thank you President Obama!

First time homebuyers may now qualify for an $8000 tax credit on the purchase of a new home!  Here's a summary of the details:

• A 'first time buyer' is one that has not owned a home for the past three years.
• Buyer must make less than $75,000 in  income  if single, $150,000 for couples.
• The credit is worth $8000 or 10% of the home's value, whichever is less.
• Claim the credit on 2008 or 2009 taxes.
• Home purchase must be made between Jan. 1-Nov 30, 2009.
• Buyer must live in the house for three years--or the credit will have to be paid back.
• The credit is refundable!  Which means you may get a refund check for up to $8000!  Check with your tax preparer for details on this aspect of the plan.  It all depends on how much in tax you owe--or don't owe--at the end of the year.

This should start moving the market as first time buyers who purchase enable second and third time buyers to move up and purchase..it's a domino effect. 

If you, or someone you know, is searching for that first home...now is the time to buy!  Email me for more information on making that very first home purchase!

Commentary on Kansas City Star Article dated Feb 6, 2009

In a recent front page story of the Kansas City Star, an economist declared average home prices should bottom out in the second half of the year.  The economist was referring the the national housing market--what about predictions for Kansas City?

The accompanying graph along side the story showed up to a 15% decline in local home prices since 2006.  (Portions of the East and West coasts show more than a 30% decline.)  Our area has not suffered as much as other parts of the country.  Even before the housing bust, the local housing market was always one of the most affordable in the US.  Price declines should be made up as the market makes its way up over the next few years.  In addition, the article states new home construction has declined, new home sales inventory is declining as sales pick up, and overall  inventory is going down--which will create a more balanced market for buyers and sellers.

Sellers moaning about declining home values need to remember that during the boom years of the market, roughly 2002-2006--some prices were rising so fast that the market couldn't keep up.  Homes had multiple offers, sold in a few days, prices increased dramatically due to 'demand'--demand that is now in question because of the mortgage crisis. What good are fast rising prices when just a few years later the same house won't appraise for the selling price??  I think  we are undergoing a much needed correction in home prices.  Housing prices will rebound--at a slower pace, which is best for buyers and sellers.

This is the year to buy and sell.  Why?  Because the bottom is here.This year, 2009.  For buyers, the tax credit (that will pass in some form in the Obama administration's stimulas plan) and the low interest rates of under 6% (possibly under 5%) make this the time.  Sellers, if you want to move up, or just downsize, your house WILL sell this year if marketed properly and well maintained. Make your home outshine the competition to get the best price. And those lower rates and tax credits will  benefit  sellers when they turn into buyers. 

Once the market starts picking up--and the media cranks up the positive housing sales stories--it will be too late.  The gloomy mindset that afflicts so many potiential buyers and sellers will quickly turn into a mindset of 'I'd better sell/buy now' and the negotiations will be very different.  Be smart and ahead of the curve--start your research, spruce up the house, and make your move before it's too late.  Real estate will always be a great investment--get ready to take advantage of the bottom of the market and turn it into a positive for yourself!

2008--not a good year for Kansas City area home sales!  Below are statistics for Jackson and Johnson County:  December '08 and final year end figures. 

It is interesting to note that overall, Johnson County had far less pending contracts than the year previous but the average sale price was only off about 3%.  Jackson County finished the year with less pending contracts as well AND much lower average sales price.

2009 should be a somewhat better year, because of less inventory, lower interest rates and the upcoming spring market--when most sales occur, no matter how poor the market.  At the end of '09, I'll check to see if I was correct!

Jackson County

December '08:  pending contracts down 5.98% from 12/07, average sales price down 9.49%.  Inventory down 17.64%.

Johnson County

December '08:  pending contracts down 20.90% from 12/07, average sales price down 15.35%.  Inventory down 5.14%.

Year end 2008 figures:

Jackson County

Pending contracts down 9.69% from 12/07, average sales price down 11.57%.

Johnson County

Pending contracts down 18.63% from 12/07, average sales price down 2.96%.

If you would like an analysis of 2008 home sales in your particular subdivision, email me with your address and zip code.  Thank you for reading my blog, comments welcome!

This is the time of year...buyers start venturing out to look at homes, they want to 'see what's out there' and think about selling and/or buying.  After all the negative news the past few months, which doesn't seem to stop, and the new year starting, we may just see an uptick in housing sales.  No matter what the market, most sales in the KC area happen within the first six months of the year.

So if you plan to start looking around for a new home, here's a few tips to keep in mind:

1.  The first impression is very important--that starts with curb appeal.  However, even if it lacks something from the outside, go in and then form an opinion.  Curb appeal can be changed.

2.  Do you like the floor plan?  It's much harder to change a floor plan.  So check out the 'flow' of the home. If you feel it works for you, that's a plus. 

3.  Kitchen and baths--too big, too small?  It's often said kiitchens and baths sell a home. Even if you don't cook much, chances are you will still spend a lot of time in the kitchen..and of course, in the baths!.  How's the counter space? Can you load the dishwaser easily?  Can two people fit in the bathroom at the same time?

4.  If the house meets most of your basic criteria (ie number of bedrooms, baths, location, a few other 'must haves') -- try to look beyond the decor if you have to.  So many buyers can't do this.  They walk in, love the decor--and the house then looks much different when the seller's furnishings are gone.  Same thing if you don't like the decor: if it's cluttered, the carpet needs changing or the window coverings are outdated:  look past that and try to imagine the home with fresh paint, your furnishings, your own special touches. 

5.  Check the basement for signs of water, older HVAC system, check the eterior for wood rot, a worn roof, gutters clogged with leaves.  These are things you can change if you love everything else--still, get a feel for these basic maintenance issues.

6.  Bigger house usually means  larger utility bills.  High ceilings, rooms you won't use, poor insulation, old drafty windows--all will impact your heating and cooling bills.

7.  Look at the other homes on the block.  Are they well maintained?  Well kept yards?  Does the street have a lot of parked cars? Any rentals on the block?

8.  Finally....talk to the agent hosting the open house.  S/he's there to answer questions.  When I hold an open house, I'm so grateful (and my sellers are too) for those buyers who will take just a few minutes to say hello, give me their impressions of the home, what they like/don't like, etc.  Yes, some agents can be very pushy during an open house, following you around, peppering you with lots of questions.  That is annoying.  Do take just a moment to give your comments before you leave--they are welcome!

Comments on my blog are welcome:  email me.  Thanks for reading my blog!

                                                                      .maryhutchison.org

This new listing is just about perfect for a first time home buyer or buyers who want one level living!

Conveniently located at 511 W 90th St, it features three bedrooms, two full baths, a large family room, wrap around deck, finished basement and office space that could be a fourth bedroom.  It's close to Ward Parkway Shopping Center, I 435, Center schools, St Joseph Health Center and Avila College.

Features include new windows, a dri-basement system, updated colors, baths and kitchen, one car garage with a double driveway.  This home has been very well maintained and is ready for a new owner.

Priced at $159,000, this is a true bargain for those who are ready to take advantage of the low interest rates and need quick possession.  Call (816 510 1262) or email me for a personal tour!

                                                      511 W 90th St, Kansas City MO 64114

Sure, the economy seemingly drops deeper every day and the news focuses on the negative...but for many first time buyers, this is THE time to get a real bargain on a house price and a very agressive interest rate.

If you are considering buying your first home, read this recent story from the New York Times. 

http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html?_r=1&em

It offers some good points to think about as you make the decision.  Now is the time to take advantage of the market if you can!

I welcome your comments..email me or visit my website.

How can you decorate a home for the holidays that is up for sale?

Don't think you have to keep all holiday decorations in a box when your home is on the market during this season. You can decorate--buyers expect to see some decor -- but think about toning it down somewhat.  Follow these tips as you plan to spruce up your home for festive holiday celebrations:

1.  Less is more.  You have probably de-cluttered your house to put it up for sale--don't clutter it again with lots of knick knacks and red and green decor.  Keep it very simple:  one tree, one door wreath, simple mantle adornments, few if any religious symbols, no photos with Santa or cutesy collectibles. Keeping it simple allows the buyers to picture their own decor in the home.

2.  Stick to a neutral color scheme.  Try red and white, green and white, gold and white or silver and white.  Pine cones, greenery, candles, tablecloths or napkins, a bowl of ornaments--all bring out the season while keeping it neutral. And don't decorate every room--two or three at the most should do it.

3.  Appeal to the buyer's sense of smell, taste  and hearing.  A few burning scented candles (mistletoe, evergreen or  pine) in a bathroom or kitchen emphasize the season and warm feelings.  Set out a plate of homemade holiday shaped cookies for buyers.  Have instrumental holiday music playing at a low volume in the background.  These special touches add a nice touch and highlight the spirit of the season.

4.  Don't leave presents out under the tree.  Best to hide them in an attic or basement trunk--not everyone who tours a home can be trusted.  Put away electronic devices and valuables.

5.  Use simple decor outside as well.  A few lights or garland, no big inflatable Santas or elves. A seasonal welcome mat is nice, along with a door wreath or icicle lights.  Keep your sidewalk and walkways shoveled of snow and ice. 

Although it's natural for showings to decrease during the holidays, the buyers that are out looking can be ready to buy once the season is over.  There are many businesses who transfer employees at the end of the year, and more hiring may be done to start the new year.  Celebrate the season with your decor, keeping in mind that you want to appeal to as many buyers as possible --so keep it simple and tasteful!

Thank you for reading my blog.  If you would like a complimentary analysis of what's selling in your area, email me with the details.  I appreciate your comments!

Another dismal month for home sales in Jackson and Johnson County..statistics and commentary follow.  All stats are compared to same month one year ago.

Jackson County

Pending Countracts:  down 16.8%

Average Sales Price:  down 22%

New Listings:  down 23.8%

Inventory:  down 16%

Johnson County

Pending Contracts:  down 33.8%

Average Sale Price:  down 4.5%

New Listings:  down 15.3%

Inventory:  down 5%

Keep in mind there are many more foreclosures in Jackson County, in areas with lower home values to begin with.  In the suburbs, having so many homes sit on the market further pushes prices down, and buyers 'lowballing' on offers. 

Both counties have fewer  listings than one year ago, reflecting sellers' hesitation to list if not necessary to move.  Also, at this time of year sellers tend to wait until after the holidays to list, prefering to show off their homes during warmer spring weather when the market is naturally stronger.  

Sales prices for Johnson County are not as affected, with an average sales price of just under 5% less than last year.  Overall for the YTD, Johnson County sales prices are just 2% less than a year ago.  

If you would like specific statistics for your area or subdivision, , email me.  Thanks for reading my blog, comments are welcome!

The song remains the same...the housing market is slow, foreclosures are up, interest rates are low, now is the time to buy!!

But is it really the best time to buy...for you?

Think about these questions if you are a first time buyer...and then make a decision. 

1)  Is your job stable?  If rumors of layoffs are going through the grapevine, try to find out if your job is secure.  If you have doubts, trust your gut feeling.  Don't buy if you think your job is in jeopardy.

2)  Can you make a payment based on one income if you are married/living with a roommate?  Many homeowners purchase more house than they can reasonably afford.  A house payment is just part of the obligation--there are taxes, interest, and utilities as well.  Don't depend on more than one income (or a large percentage of your take home pay) to make the house payment.

3)  Figure out the true cost of home ownership first.  Yes, the interest deduction is a plus at tax time.  Along with the house comes maintenance, repairs, decor.  Think about the extra expenses that will come up and figure a percentage into your monthly budget dedicated to house upkeep.  

4) Are you planning to stay in the home for several years?  It takes time to build equity in a home.  If you plan on a job transfer in a couple of years to a different city, you may not be able to make money on the transaction when you sell.  It's best to live in the home at least four to five years before selling.

5)  What type of lifestyle do you enjoy?  If you travel often for your job, like to take extended vacations, dedicate yourself to long hours at the office, dislike yard work and home repairs--buying a house probably isn't for you.  (Of course you can still own--check out a condo!) 

Buying a house will cost more than renting...but the benefits of home ownership outweigh renting in many respects.  Still, it's never a good time to buy if your financial situation is unstable or the maintenance of a home doesn't fit with your lifestyle.  Take the time to do some math, talk to homeowners--then make the decision if buying is right for  you.

Thank you for reading my blog.  Comments are welcome!  If you  are thinking of buying or selling and would like additional information about the current market in the Kansas City area, email me.