There is much concern in the housing market today. Much of this is fueled by the constant negative bombardment from the media which in turn becomes a self fulfilling prophecy. The beauty of the Kansas City market is that we never have had a "bubble" to burst.
Secondly, the mortgage market is tightening up to levels we have not seen in many years. All of the bad loans that were made in recent years have caused many of the "easy qualify" programs for marginal borrowers to disappear. Many mortgage companies have closed their doors and many more have had to restrict their qualifications to semi extreme measures.
All that being said, we have had luck selling our properties. Sellers need to realize that there is a glut of inventory and in order to sell, the home needs to stand out, either in price or condition. I see so many homes that I view as so-so and not priced accordingly. In years past they stood a chance to sell but in this market, dream on! We work with our sellers to make the proper improvements that will make the house sell. Even so, nudging the price downward somewhat is key if the home getting lots of looks but no offers.
Buyers: If you are a first time buyer with no home to sell before you buy...what are you waiting for?? I have never seen a better time to buy than right now. Mortgage rates are good. We have lenders who can get your deal done. There are some desparate sellers out there. Talk to us! You will be glad you did.
Never hesitate to call Karen or I to ask us any house related question. This is all we do and are always happy to talk "houses" with anyone.
913 385 4000