Rachel Hunt's Blog

Holiday Bonus for Realtors!

Rachel Hunt (Reece & Nichols) — Thu, 10 Nov 2011 10:03:43 -0800

Do you know anyone looking to rent a home for a while until they are able to buy? Don't dismiss these people, because they could be the key to your Holiday Bonus. Bring me a qualified renter by 12/1/2011, and I will pay you a $775 finder's fee. I have a cute house in Brittany Park that is available immediately for $1550/month. It is a 3 bedroom, 2 bath, 2 car garage home with a finished basement. Quiet street and Blue Valley Schools! Call co-op for the combo. Thanks for showing it!

Real Estate is NOT Dead!

Rachel Hunt (Reece & Nichols) — Tue, 04 Oct 2011 10:18:45 -0700

As long as people still need roofs over their heads, real estate will live. Real estate isn't dying, it's just changing. Many people who might have bought a few years ago are now renting due to financing challenges. Also, investors who used to rely on the stock market for solid returns are looking for alternative investments. So... connect the dots. Agents can help investors find and procure investment property. The world is changing, we must change with it.

Lease Purchase: What will buyer's lender allow?

Rachel Hunt (Reece & Nichols) — Thu, 22 Sep 2011 10:03:32 -0700

A few years ago, I had a buyer who entered into a lease with an option to purchase. She paid a small option fee upfront and was paying $300/month above market rent that was intended to go toward her down payment. However, when she tried to exercise the option, her lender would not count the option fee or the monthly amount as down payment.

I am now trying to help another client with a lease option. What is the best way to structure the deal to make sure the buyer gets credit for the option fee and accrued monthly payments? What will the buyer's lender allow when it comes time to exercise the option and get financing?

Lease Purchase Option, Blue Valley Schools, Immaculate Home

Rachel Hunt (Reece & Nichols) — Wed, 21 Sep 2011 16:21:19 -0700

Well-maintained 3 bd, 2.5 bath home in Blue Valley School District. Harmony Elementary & Middle, and Blue Valley NW High School. Light, Bright, Clean, and updated. Brand new roof & exterior paint. Nice landscaping, huge patio. All appliances stay, including refrigerator, washer & dryer. Terms are $1,850/month with a $5,000 option fee. Immediate possession. Call me today for more details.

Do buyers want new homes anymore?

Rachel Hunt (Reece & Nichols) — Tue, 20 Sep 2011 09:52:02 -0700

I am trying to help a developer sell some lots in Olathe, KS (near college & woodland). The first plat consists of 17 lots, and about half of those lots have homes. The lots are larger than usual, ranging in size from 13,000 s.f. to 17,000 s.f. So far, the subdivision has a variety of floor plans and exterior elevations which gives it a "custom home" feel. The homes have sold for $350,000 and up. We have been talking to a builder who is contemplating building a spec. home on one of the larger walk out lots. It is going to be a reverse 1.5 story with two bedrooms on the main level and over 2800 s.f. combined. It will have 4 bedrooms, 3 baths, and 3 garages. The price point will be in the low 300's depending on finishes. Do you have any buyers that might be interested? Or do you think there are too many resale homes to compete with it?

Construction Loans Still Available!!!

Rachel Hunt (Reece & Nichols) — Fri, 16 Sep 2011 13:02:00 -0700

I was told by a representative of a major bank that construction loans were dead. However, after a little more digging, I found a few local banks that will still make loans to buyers wishing to build their own home. This is great news because, I have a few picky buyers with special wants. I'm glad to know that building is still an option for them. New Construction has suffered a lot in last few years, but I have hope that it will come back. For more info, go to http://hunthomeskc.com

Earn $100 immediately, and $1,000 bonus with signed contract!

Rachel Hunt (Reece & Nichols) — Fri, 16 Sep 2011 12:49:23 -0700

A local builder, Tabernacle Homes LLC, is offering $100 to any agent bringing a qualified buyer to meet with him. Also, earn a $1000 bonus at the time your buyers sign the contract. You don't have to wait until closing. Quality construction and custom details at an affordable price. Come see the beautiful model home in College Meadows at 11172 S Crestone, Olathe, KS. Ask me about financing solutions, or go to www.hunthomeskc.com

Custom Home Subdivision starting in the low 300's

Rachel Hunt (Reece & Nichols) — Fri, 16 Sep 2011 12:16:24 -0700

Are you looking for a new homes subdivision with a "non-cookie cutter" feel? Check out College Meadows near Olathe Northwest High School. The subdivision boasts large lots and tons of green space. Great schools: Meadowlane, Prairie Trail, & Olathe NW. Homes start in the low 300's. Some walkout lots still available. Bring your own builder or use one of ours. Call today to hear about different financing options. To see photos... go to www.hunthomeskc.com.

A Place for Mom

Rachel Hunt (Reece & Nichols) — Sat, 10 Sep 2011 10:07:55 -0700

I just listed a very unique property last night. It is an immaculate duplex in overland park, ks. Both sides have been updated with new kitchen cabinets, appliances, flooring, and much more. They just installed new windows and the home has low maintenance vinyl siding. It is somewhat non-traditional in that both garages are attached to one side. It is absolutely perfect for your clients who need to live near their aging parents. It is a ranch, with no basement, so there are no stairs to contend with. It is located just a few blocks from Shawnee Mission Medical Center. One side is a 3 bd/1 bath, and the other side is a 2 bd/1ba. It would also be good for extended families that choose to live near eachother. List price is $175,000. See mls #1746663, or go to www.hunthomeskc.com.

Mom Caves

Rachel Hunt (Reece & Nichols) — Sat, 03 Sep 2011 11:34:12 -0700

I am super excited to watch the new HGTV show "Mom Caves". There has always been an emphasis on play rooms for the kids and media rooms for the guys. Finally, a mother's retreat space is being recognized! I have always longed for a sunroom, library, or nook where I can escape, relax, and read with no tv and no one bothering me. As I write this short blog, I have already been interrupted twice. I hope we will start seeing more of these spaces in the homes we show.

Buying Foreclosures and Karma

Rachel Hunt (Reece & Nichols) — Wed, 31 Aug 2011 10:16:01 -0700

Someone once said that buying a foreclosed home would create "bad" Karma. Losing your home and having to move must be incredibly difficult. To think that the buyer would benefit from someone else's loss seems somewhat immoral. On the other hand, I would think that fixing something that is broken would create "good" Karma for the universe. Thoughts?

Say it isn't so...

Rachel Hunt (Reece & Nichols) — Wed, 31 Aug 2011 09:35:11 -0700

Henry Blodget from the Business Insider wrote that 31% of the nations securitzed loans are non-performing (in default). That just doesn't seem realistic. Does anyone have a better number? If not, then the sky is definitely falling.

Updated Two-Story Home, Blue Valley Northwest High School

Rachel Hunt (Reece & Nichols) — Tue, 30 Aug 2011 12:38:42 -0700

Come see this beautifully updated, two-story home in Hamptonshire. 5 Bedrooms, 3.5 baths, and open floor plan make this a perfect home for families. Enjoy the HUGE walkout finished basement. This one won't last at this price! Find Homes in KC

Home Buyers: Head vs. Heart

Rachel Hunt (Reece & Nichols) — Mon, 29 Aug 2011 19:45:16 -0700

Recently, I helped a young couple purchase a home. They told me they wanted a foreclosure so they could get the "instant equity" associated with a buying a distressed home. They said they were not afraid of doing some work, and gutting the place if needed. I showed them house after house, but couldn't find them anything they liked. After a little digging, I found out they had always lived in newer homes. But they had read that buying a fixer upper in an established neighborhood was the way to wealth. I realized that their head was telling them one thing, and their heart another. So, I started taking them to newer renovated homes and they fell in love instantly! Find Homes in KC

20% Down

Rachel Hunt (Reece & Nichols) — Mon, 29 Aug 2011 17:45:29 -0700

I can't believe the number of articles I'm reading that are giving misinformation to potential home buyers. I read an article this morning on Yahoo Finance that said home buyers need to come up with at least 20% down. This is FALSE! Today, a home buyer can get an FHA loan with only 3.5% down or a conventional loan with only 5% down, provided that credit and income ratios are good. It might be wise to put more money down, but lenders are not "requiring" it. In addition, sellers are usually willing to pay the buyer's closing costs. Find Homes in KC

Leverage Your IRA

Rachel Hunt (Reece & Nichols) — Mon, 29 Aug 2011 13:23:43 -0700

Have you read about how you can leverage your IRA to buy real esate? Matt Allen (NASB) wrote a book on the subject. If you are tired of the volatility in the stock market, you should think about diversifying your portfolio. My husband and I rolled our 401k into a self-directed IRA and started buying real estate a few years ago. We use Pensco Trust Company as the custodian. We have had great success, and are very happy with the return. We finally feel like we are in control of our retirement assets. More Info

Location, Location, Location???

Rachel Hunt (Reece & Nichols) — Mon, 29 Aug 2011 10:01:22 -0700

I read in the Wall St Journal today that the top three factors effecting real estate values are "jobs, jobs, jobs", and not "location, location, location". This makes a lot of sense because if unemployment is high, foreclosures will increase, and housing values will fall. Then I researched the unemployment rate for Overland Park, KS. In 2010, the unemployment rate for Overland Park was 6.6% compared with the national average of 9.6%. Wow! The rate is up from past years, but much better than the rest of the country. I think the local economy is the main reason housing values in Overland Park have been somewhat stable compared with other cities. Find Homes in Overland Park

Buyer's Advantage

Rachel Hunt (Reece & Nichols) — Mon, 29 Aug 2011 09:59:12 -0700

If you are looking to buy a home, now is the time. In Kansas City, there is a 9.4 month supply of homes on the market. This number is calculated by taking the current inventory and dividing by the average number of homes sold per month. A 5-6 month supply means that it is a balanced market. Less than that means it it a "Seller's Market". Since the supply is considerably more, buyer's clearly have an advantage. I tell my buyer's, "pick your home then name your price." Find Homes in KC

Buy Low, Sell High

Rachel Hunt (Reece & Nichols) — Mon, 29 Aug 2011 09:29:29 -0700

Buy low, and sell high. We all know that successful investors follow this advice. The problem with applying this idea to Real Estate (or any other asset) is that it is difficult to tell when we have hit bottom. Have home prices hit bottom in my area? I don't know for sure, but here's what I do know... Rental homes are in extremely high demand, and vacancy is at an all time low. Prices are the best I've seen in years.

I have several rental homes in Johnson County, KS. When I post them for rent on craigslist, the response is incredible! I usually get more than 5 applications in the first week. My annual return on investment is a solid, stable, 10%.