I’ve had many homeowners ask, “What can I do, that will add value to my home and make it stand out in the Kansas City Real Estate market?”  What truly adds value?  As I discuss with all my homesellers in Overland Park area, by having their Kansas City home in excellent condition is utmost important.  I have found that any upgrade to the kitchen & baths brings great return on value. But adding new carpet & new paint also makes a difference. It can be the difference between getting showings on your Kansas City home to actually getting an offer.  Today’s Kansas City homebuyer is looking at value for the price.  I know sometimes people say, hey, we’ll reduce the price to let the Kansas City home buyer pick their own colors.  But, in today’s world, people are busy just as you are. They prefer to just move in versus putting in sweat equity! So take the time to make the updates to help your home get the offer you want!  

So check out the Cost vs Value report of where you get the most return for the money.  Of course, if you would like some ideas of how to get your home ready prior to putting it on the market, give us a call and we’ll be happy to point you in the right direction.  

Related Links:

Home Stgaging your Overland Park Home

How Do I price my home for sale in Overland Park

Kansas City Real Estate:  How do I price my home?

I was sitting with one of my sellers the other night.  One of the questions came up, is what can I do to get my home sold fast?  Of course, we discussed price and condition. Both are equally important!  As I had informed them, quality homes are still command top prices, but sellers need to adjust to the market and some are making common mistakes. One of the common mistakes is to build in room for excessive dollars in the price for negotiating, which many times puts them out of the marketplace. Many Kansas City sellers comment, “My neighbor got this price last year and I have a better home.”  Of course, but that was last years market.  Instead, they need to understand the dynamics of today’s market. One of the concerns is that many use just neighborhood sales.  Well, that is great.  But I also bring information on what is selling in the area, our competition.  Many homebuyers don’t just look in a specific subdivision for a home.  But instead, will look in an area.  The seller needs to understand the competition that is out there.  How does their home show value compared to others?  That is exactly what Kansas City home buyers are doing.  Looking at value!  We want our sellers to have a realistic expectation upfront, because this can mean the difference between a quick & profitable sale or a slow and costly one. This is especially important right now as our spring market continues to heat up!

Listen to our podcast on the market conditions in Kansas City!

Kansas City Real Estate Market Update

Our Kansas City real estate market is in full bloom this late spring!  There’s activity out there, especially with the first time home buyer. They’re trying to capitalize on what’s left with the 3% down payment programs.  The hottest activity is the price range in Johnson County homes is the $160,000-180,000 price range.  They are selling 20% of the resale homes available.  Then the move up buyers in the price range of 200,000-250,000 had 18% of the market sold in the month of April. Currently the average of 13% of the Kansas City real estate homes were selling in April. With 36% of those Kansas City homes sold, in less than 30 days.  So value is still king!  Offer great condition and good pricing, you should see an offer!

Listen to our podcast on the market conditions in Kansas City!

Pricing your home for sale in Kansas City is more important than ever today!

With the amount of foreclosures and short sales available, pricing a home for sale in Kansas Cityis vital to it’s time on the market!  Even with the diversified employment here in Kansas City, we’re still seeing some correction in the real estate market.  The average home in 2007 received 92% of its listing price to sale price ratio according to the Heartland Multiple Listing Service. But 36% of the resale homes sold within 30 days. We know that many markets across the country are declining.  The one thing I have learned about Kansas City, our market doesn’t have the large fluctuations as other areas.  I think it’s truly because of the solid employment here along with excellent schools.  Therefore, a Kansas City home in top notch condition and priced correctly is critical! Today, it’s all about value.  The buyer is out looking at many Overland Parh homes during their search.  They are looking for the ones that offer the most for the money.  It has to be well maintained and updated.  Of course, don’t forget to stage your Kansas City home for the extra edge in showing your home in it’s best light! We can help you with that!  We are accredited home stagers and have access to many avenues to help you get the most for your money!

Today’s market has made the real estate transaction more complicated and stressful for many of the Kansas City real estate sales.

With all the foreclosures and short sales, it’s having an effects on the appraisals.  It’s important that we give the bank appraisal just as much attention to detail and preparation.

Typically the appraiser and bank wants comparable homes sales in Kansas City in the same neighborhoods that have closed within the last 6 month. It’s important to chose homes that have comparable features. If not, the lender can reject or request for further justification on the comparable homes.

So its important to be realistic on values.  With all the attention on the short sales and foreclosures, those need to be detailed. If the properties have sold for less, then the lender will probably want to know the reasons & conditions. The lenders want to understand market conditions and how pending sales are also effecting the market.  Pending sales indicate the market conditions! Also, some lenders are putting declining markets on some zipcodes.

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