If you watch the news long enough, you will think that Kansas City is in the worst of worst buyers market, where buyers are actually able to "steal" homes from sellers. Some buyers are starting to believe this rubbish and making absolutely ridiculous offers on resale and new homes in the area.
Our market is not the same as Florida, California or New York. The Kansas City area has a pretty stable real estate market. It seems like we're always the last area to go down in a bad market and the first to recover. Yes, we have a sluggish market with higher levels of inventory and many homes to choose from and that makes it a buyers market.
In pulling up the MLS statistics, it is showing the normal 2-3% off list Johnson County market to now be in the range of 2-6% off list price. Probably the 2% being the staged super looking home and the 6% moving closer to the REO or HUD trashed home that needs a lot of help.
You can find a bargain now, but the sellers aren't going to allow you to steal their homes. Sellers realize now that it does take longer to sell their home than it did even a year ago.
Many buyers are also expecting even 30 year old homes to be totally renovated and look like a 2 year old home......no matter how much renovation you do it's not going to make it look like it's that new......if you have to have a new home, shop the new homes. If you like older homes then look at the older homes.
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