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.