Day Trip from Shawnee, Ks to see the tulips in Topeka, KS.  Day trips are fun.   From my Shawnee, KS home, it's an easy drive to Topeka, Ks.  Topeka  has an amazing Tulip Festival that just ended today.  When my mom was visiting from Iowa, we took a day trip to Topeka and enjoyed the beautiful tulips and other flowers.   Hats off to Topeka residents who invest time, energy, and money in creating such a beautiful place. Happy Spring!

Pictures by Lea Deo, Kansas City, Serving Your Real Estate Needs in Shawnee Ks. Olathe, Overland Park, Mission, Lenexa, and other parts of the Kansas City metro area

Goode Estates is a subdivision comprised of 166 homes built in the mid seventies to early eighties.  Located in the heart of Shawnee, it features mature trees and larger lots consistent with that era of building.

It is conveniently located close to the Benninghoven Elementary School and Shawnee Mission Northwest.  Goode Estates homes are served by Trailridge Middle School which is just down the street at 75th and Quivira. 
According to Heartland Multiple Listing Service data there were four homes that sold in 2009 and in the first quarter of 2010 there are three homes with contracts pending.   Homes often sell quickly in Goode Estates with offers being received in 60 days or less on the market.  Shawnee homes in Goode Estates have generally sold between the  higher $170,000's  to lower $190,000's.


Typical Shawnee Homes in Goode Estates neighborhood

Google Map of Neighborhood

Search for Shawnee, KS homes, Lenexa homes, and Overland Park homes for sale, priced between $165,000 and $200,000

This morning as I left my home, I remembered when my husband and I had bought this home.  We were working hard and having a hard time making it financially. To this day I remember exactly where I was standing in my kitchen.  I remember what he was wearing and the look on his face when he came into our farm home in Iowa and asked me what I thought about moving back to Kansas City. My response, "I'm packing!" 

In the space of 30 days we sold our acreage, our livestock, and our equipment.  We both got our old jobs back and bought a house in Shawnee, KS.  We closed on the house in October, 1979 at an incredibly good interest rate of 9.75%.  As you may or may not remember, interest rates at that time climbed to over 18% for 30 year mortgages. If we had not bought at 9.75%, we would have probably not been able to buy at all.  Certainly we could not have purchased as much house as we did.  So many times in subsequent years we talked about how that move had been ordained--how if we had not bought when we did, we would not have been able to buy our home.

I regard that moment in our kitchen as a moment of destiny.

This morning as I left my front door, I was grateful for the house that has been my home all these years.  Then this thought crossed my mind.  I wonder how many buyers will let their moment of destiny pass by.  The tax credit that exists for buyers today is like the cherry on top of the sundae.  It is a great time to buy a home.  Interest rates are lower today than they are likely to be in the future.  I don't know how high they will go, but I'm very confident that the direction is up. Higher interest rates mean less house for the same money. There are great values in homes today. Housing prices in our market are lower today than in recent years.  Over the long haul we can be fairly confident that houses in our market will appreciate.  In short, your housing dollars go a long way today.

How many of today's  potential buyers are in that moment of destiny?

How many of today's potential buyers may miss the opportunity to own a home because of hesitancy? 

If you are thinking of buying a Shawnee, KS home and hesitating, I invite you to examine the reasons for yor hesitancy.  It may not be the right time for you to buy a home, based on your individual circumstances and situation. At times I have advised potential clients to rent because that was in their best interests.

On the other hand, it may be your moment of destiny.  It may be the cornerstone of your future net worth.  Make sure that you are carefully considering your situation. 

When I got back from Keller Williams Family Reunion, I brought Mama D with me.  Mama D is just the name that my kids' friends used to call me.  Mama D is a composite character of a few people I have known through the years and some I haven't. She believes that life is way too short not to have fun. 

After I had presented Mama D to my fellow agents in a team meeting, they encouraged me to videotape her recap of Family Reunion.  Writing the script was easy. Finding the costume and props were easy. Videotaping and editing were not so easy.  Bill and Donna Wilting of DeSoto Youth Ministries, helped me tape it and we had help from Martin Oehmler in editing it and making it postable.  I've always said that if I don't know how to do something technological, find a teenager.  I am so thankful that I have the opportunity to hang out with teenagers at DeSoto Youth Ministries. 

It is said that laughter is like a mini vacation so when you have time, take an "almost  10 minute vacation" and listen to Mama D tell you about "That Gary Keller Feller." 

It happens to all of us, whether we're selling Johnson County, KS real estate or anywhere else in the country - probably anywhere on the planet.  We're talking with  a client or potential client and they ask you to predict the future of interest rates, prices,  or the market in general.

I reply with this answer, " Sorry, when I checked my crystal ball this morning, it was having technological problems." 

"However, this is happening in the market place right now" and "we know that these factors affect supply and demand in this way"  or "we know this about the neighborhood".  Follow up the crystal ball remark with intelligent information that communicates that you know what you're doing and  you know the market where you work. 

I've found that the crystal ball remark disarms them and they laugh and realize that, of course,  I can't predict the future and it gives me a great opportunity to show that I do understand economic forces and market realities.

This morning I drove to Independence, Mo. to talk with  a group of widows and a widower.  This

group is a part of Skillbuilders which is a program designed to assist widows and widowers

in adapting to a new lifestyle and teach them life skills which they suddenly need,  One

class has to do with personal safety, another has to do with managing finances, another is geared

toward maintaining an automobile,  a couple are geared toward grief support.  It is a wonderful program

where people who are dealing with deep painful emotions can find safety and share their experiences,

pain, and achievements.

 
I talk about the real estate market and getting your home ready to sell.  Generally, these

people are not ready to sell their homes.  Their grief is too fresh.  I encourage them to

take time and make their own decisions and not feel pressured by someone else who "means

well".  Not all of the widows and widowers are older.  There's no guarantee that you will

have a long life together before you're faced with widowhood. Today, most of the audience

were older and had owned their homes for several decades.

I explain a little about the real estate market, the way to choose a good real estate agent,

and the importance of pricing the property to sell.  Then I talk a little about improvements

that make sense,staging and home warranties, as well as the home buying process including

inspections and appraisals.  Many times these people have lived in their homes 30-40 years. 

Some of the questions they asked today were:

• Should I choose a friend to list my home?  (My answer- I don't know.  Sometimes it can be a

good choice.  Sometimes your friend is selling real estate as a hobby and not a career.  Do

you feel comfortable if your friend knows about your finances?  Do you feel comfortable with

your friend telling you that you need to lower your price, clean your shower, or any other

type of honest feedback that real estate agents must give if they are doing their job.)

• If I find a house that I want to buy, do I call the listing agent so that I have to make

multiple phone calls to see multiple homes?  That lead to a great discussion of buyer agency

and seller agency and designated agency.

• If I list my home and someone wants to see it, should I leave?  Should I answer questions? 

How can I explain all the idiosyncrasies of the house and how to take care of it. 

• I don't want to do extensive fix up work.  Can I still sell my house?  That lead to a great

discussion about the market and how buyers think and who the competition is and who the

target buyer is, as well as the observation that price overcomes all obstacles. 

I'm writing this post to remind agents that this particular market segment may have very

basic questions.  As real estate agents, we tend to think of first time home buyers, but

sometimes first time sellers have those same basic types of questions. 

On March 4, 2010 the Obama Administration published detailed program guidelines and authorized

servicers to begin modifications and refinancings under the plan.  The plan is designed with

the goal of preventing foreclosures and streamlining and expediting the short sale process. 

You can read the complete Treasury press release

In the short sale process, lenders agree to accept less than what is owed on the property

due to declining home values and hardship on the part of the borrower.  The process is

fraught with frustration for both buyers and sellers due to protracted time frames involved.

Highlights of the program involve:

• Borrower eligibility:  Before a foreclosure is initiated, participating servicers must

evaluate the appropriateness of a short sale based on property conditions, marketing

conditions, and whether a short sales agreement is likely to be yield more money than

foreclosure.

• Incentive Payments:  Servicers may receive compensation of up to $1,000 for successful

completion of a short sale or deed in lieu of foreclosre. Borrowers may receive compensation

of up to $1,500 to assist with relocation expenses, and Junior lien holders may receive up

to $1,000 to release their claims.

• Standardized Documentation:  The program will develop one standard set of documents to be

used in the short sale process and outline timeframes for performance.

•  Property Valuation:  The servicer will independently establish property value and minimum

acceptable net return and will provide instruction to the borrower regarding list price and

permissible price reductions.

• Minimum and Maximum Duration for Marketing:  Servicers will allow a minimum of 90 days to

market and sell the property and a maximum of one year to market the property provided there

are no extenuating circumstances.

• Selling Commissions and Fees:  The Servicer will allow reasonable and customary real estate

commissions and selling costs.  The Servicer will not  be allowed to negotiate a lower sales commission

after an offer has been received.

• Fees and Charges:  Sericers may not charge borrowers fees for participating in this program

Property Eligibility:  The servicer can proceed with a short sale or deed in lieu of

foreclosure if there is reasonable belief that all liens can be cleared.  Any junior liens,

mortgages, or other debts attached to the proerty must be cleared for the property to be

sold as a short sale or deeded to the servicer in lieu of foreclosure.

So, that's the  short sale program highlights.  What say you, real estate professionals, do you think

this program will help?  

Most of us who have been in real estate any length of time at all have come across situations that would be a great chapter in a book.  I may never write "The Book", but thinking of these incidents as a chapter helps me close the door and go on and focus on the next chapter.

I met this woman through an internet lead.  We emailed and talked on the phone for awhile.  She called me and told me that she was driving  from Tennessee  to Kansas City to look for a house.   She and her fiancée were getting married.  He was preapproved for a particular price range but they wanted to stay under that range. We had talked about the Kansas City real estate market extensively.  I had emailed her listings and arranged a meeting at another Keller Williams office that was more convenient for them.  When I met them, it was very evident that they weren't on the same page, but that happens.  I scrambled around and found some listings that might more closely make them both happy.

He didn't have his preapproval letter with him and I broke my rule and took them out anyway  (because she had driven several hundred miles to look for a house, of course they were ready to go.  Lesson learned).  My car was in the shop and I rented a larger car so they would be comfortable.  She also was unfamiliar with the area so we did a wider tour of areas.   The next day I took her alone to search for their home.

We found the house and she was excited.  It was brand new - well within  the price range and had everything she wanted.  When she told him that she had found the house, he had something to tell her.  As it turns out, this man had another wife here in the city and had no intentions of getting married, buying a house, or anything else. This woman had already bought her wedding dress, was in the process of putting her own home up for sale, and making arrangements for her children to change schools.

I was angry for her and angry at myself for allowing myself to get duped.  If I had stuck to my own rules requiring proof of the preapproval, it wouldn't have played out like that.  She and I had some interesting conversations and perhaps I was put in her path to minister to her at a very difficult time.  I can only trust that God had bigger ideas than my idea of selling them a home.  I have talked to her since she returned home and reassured her that she will be all right.  She's a strong woman who is better off now than she was before we met.  And I am going on to find the next chapter for the book.

From time to time I get questions about Kansas City real estate investments. The Kansas City area is a great place to invest in real estate. I have helped many saavy buyers invest in Kansas City real estate through outright purchase, or using a 1031 exchange to get into our affordable housing market in Kansas City. Rental income and demand for rentals is increasing with the credit crunch so it's a great time  to buy rental property in Kansas City.

Our market has historically seen steady appreciation, not subject to wild swings up or down.  While our current market is a little slower than it was a couple of years ago, we are still not faced with extreme conditions. Sellers do need to be competitive in price, condition and location. Well priced properties in good locations and in great condition are still selling relatively quickly, sometimes with multiple offers. I recently sold a home that had 4 offers come in on the same weekend--and it had been on the market about 60 days. We didn't change anything to elicit the offers. Our strategy just seemed to kick in at once.

As of the end of October, overall, in the Heartland MLS that serves the greater Kansas City real estate market, we have almost 6% more inventory than we had last year, with about 9% fewer buyers. Agents are seeing buyers write lower offers and having higher expectations in neogtiating for repairs during the inspection period. Prices are generally down somewhat, varying by county. For the Heartland region in total, the average selling price in 2007 was $176,751 compared to $184,719 in 2006. In Johnson County, KS real estate market, the average selling price in 2007 has been $260,552 compared to $258,444. In Wyandotte County, KS real estate market, the average selling price in 2007 is $103,758 compared to $108,772 in 2006. On the Missouri side the average sales price in Jackson County dropped to $141,429 in 2007 from $148, 574 in 2006.

Properties that are selling, generally are selling quickly, with 51% of the properties being sold within the first 60 days. On the other hand, 26% are taking more than 120 days to sell. These statistics point out the importance of being competitive in the market place if you want to sell. Buyers, too, need to realize that in this market not all properties are lanquishing on the market. Some buyers have the idea that a low ball offer will buy any property and that's just not the case.

All in all, the Kansas City real estate market is a little slower than it has been. It certainly is a more normal market than many other parts of the country are experiencing. If we do have a freeze on the adjustable mortgage rate increases, I would expect to see our market normalize a bit more and pick up a little. Sellers who found themselves between a rock and a hard place in needing to sell to avert the higher mortgage payments, but unable to sell because of inadequate equity will find a breath of relief and probably stay in their homes until appreciation does work on their behalf. I am expecting to see an uptick in the market this spring, especially if interest rates stay low. They are currently below 6%, and that's a good deal historically. Kansas City offers some of the most affordable housing anywhere and that fact is quickly being recognized acorss the nation.