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.

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