Well it's that time of year again. Johnson County Kansas mailed out your annual property tax statement. For most of you it came as a surprise because the average bill went up 4.3% this year. So how does my property tax bill go up when home prices have been falling for over a year?

There are generally 2 reasons that your taxes are higher this year. The first is the Mill Levy, that is the rate used to compile all of the collected taxes including taxes for schools, road projects and other bonds issued by the county. The other is when the sale of comparable homes in your neighborhood go up. If your property tax assessment was $250,000 last year and 2 of your neighbors homes that are comparable sold for $260,000 you can expect that your assessment will go up to match those recent sales. But what if the sales prices are declining and your assessment still went up? That"s where you can protest to the county and ask for them to lower your taxes.

So if you think that your taxes are wrong and you want to protest, here is where you get started www.treasurer.jocogov.org

Here is how the process works:

• If you have not had a meeting with the County Appraiser on the valuation of your property for the same tax year, you can file a protest. Protest forms are available from the County Treasurer or you can print the associated form.
• Contact your County Treasurer's office to request the protest forms (or print them from the associated documents). Please read and follow the instructions carefully for a successful appeal. NOTE: If the protest form is received in the Treasurer's office unsigned the protest will be considered invalid and will be returned to you. The delay may jeopardize your chances for a hearing.
• Complete the tax protest form and file a copy with the County Treasurer's Office on or before December 20th with your payment. (If at least one-half (1/2) of the taxes are paid by an escrow agent, a protest of the taxes must be filed no later than the following January 31.) If taxes are paid after these deadlines, any protest of the taxes must be filed at the time the taxes are paid.
• The protest form can be submitted through fax to 913-791-5360, as long as it is sent in by the first half and second half deadlines given in step 3 above. After those deadlines, please fill out the form online and print a copy to mail with your payment.
• You must keep a copy of the protest form. You will need to use this form to file the protest with the Board of Tax Appeals if you are not satisfied with the County's decision.
• The County Appraiser will contact you to schedule an informal meeting after the County Treasurer forwards your protest form to the Appraiser. If you are filing a protest on the basis of an illegal tax levy, an Appendix must be completed and attached to the protest form. Those protest forms will be mailed by the Treasurer to the State Board of Tax Appeals. No informal hearing will be held with the Appraiser in the case of illegal tax levy protests.
• If you are successful in your appeal and your paid taxes are reduced, a refund will be issued upon the Treasurer receiving a correction from the County Appraiser's office. If there is still a second half balance due, that amount will be reduced and no refund will be made.

Property Tax protest form

If you want to know what your neighbors tax value is? Visit the link below.

Johnson County Kansas Aprraiser site

If you need help, feel free to contact me at 913-681-1383 or info@russellhometeam.com

For all of the latest information on the Johnson County Kansas Real Estate market Feel free to visit our website at www.SearchjocoHomes.com

 Regency by the Lake in Overland Park is located next to LionsGate but is a fraction of the cost. A well established subdivision just off of 151st & Metcalf Regency by the lake is part of the Blue Valley School system and is close to everything including Price Chopper, LLwellens Pub & Hwy 69.

 Last 6 months Home Sales for Regency by the Lake

Month	Year	Units Listed	Listed Volume	Listed Average	Units Sold	Sold Volume	Sold Average	Average DOM
May	2008	4	988,350	247,087	1	260,000	260,000	23
Jun	2008	1	249,950	249,950	2	524,000	262,000	21
Aug	2008	1	248,000	248,000	0	0	0	0
Sep	2008	2	459,950	229,975	2	497,950	248,975	40
Oct	2008	1	265,000	265,000	2	451,500	225,750	25
Totals:		9	2,211,250	245,694	7	1,733,450	247,635	27

Click Here to View Regency by the Lake Homes for Sale

This report courtesy of The Russell Home Team, your Overland Park Home Experts. For more information visit our website www.SearchjocoHomes.com

 Camden Woods in Leawood is a fantastic family friendly community Camden Woods in an upper level subdivision located along 143rd & State Line. It is close to everything, including the Blue Valley schools, shopping, churches and more. Beloww is the sales statistics for the past 6 months.

 Last 6 Months Sales Report for Camden Woods

Month	Year	Units Listed	Listed Volume	Listed Average	Units Sold	Sold Volume	Sold Average	Average DOM
May	2008	5	2,373,800	474,760	0	0	0	0
Jun	2008	4	1,687,900	421,975	1	540,590	540,590	27
Jul	2008	5	2,113,200	422,640	3	1,234,000	411,333	34
Aug	2008	3	1,333,480	444,493	3	1,345,000	448,333	39
Sep	2008	4	2,003,850	500,962	3	1,225,200	408,400	33
Oct	2008	1	409,000	409,000	1	321,000	321,000	27
Nov	2008	0	0	0	1	532,000	532,000	34
Totals:		22	9,921,230	450,965	12	5,197,790	433,149	32

To view Camden Woods Homes For Sale Click Here

This report is provided by the Russell Home Team, your Leawood & Johnson County Home Experts. For more information visit our website www.SearchjocoHomes.com

 Southern Overland Park has many fantastic subdivisions. Sylvan Lake is one of those subdivision, located near the intersection of 159th & Nall Sylvan Lake is part of the Blue Valley School system and feeds directly into Blue Valley High School. Some of the local highlights includes a Super Walmart, LLwellens Pub, easy access to hwy 69 & more.

Last 6 months home sales Statistics for Sylvan Lake 

Month	Year	Units Listed	Listed Volume	Listed Average	Units Sold	Sold Volume	Sold Average	Average DOM
Jun	2008	1	219,950	219,950	1	223,000	223,000	21
Jul	2008	2	415,900	207,950	0	0	0	0
Aug	2008	4	961,400	240,350	0	0	0	0
Sep	2008	1	228,500	228,500	0	0	0	0
Oct	2008	1	224,950	224,950	2	470,000	235,000	46
Totals:		9	2,050,700	227,856	3	693,000	231,000	34

To Search for Sylvan Lake & Overland Park Homes for sale click Here

This report is brought to you by the Russell Home Team, your Overland park & Johnson County Home experts. For more information visit our website www.searchjocohomes.com

15845 Briar Street Overland Park, KS 66224

This fantastic home just got better. Not only did the seller lower the listing price to $359,900 but they also repainted the exterior to reflect current color trends. Take a look for yourself, I think you will have a hard time finding a nicer home for the price in Hampton Place.

This home is proudly listed by The Russell Home Team, your Hampton Place & Overland Park Home experts. for your own private showing contact us at 913-681-1383 or email me at michael@russellhometeam.com. or you can see all the great homes for sale in Overland Park by clicking on the MLS search link below.

********HUD announces new Incentive**********

The Department of Housing & Urban Developement(HUD) has just announced 2 new incentives for home buyers is Johnson County Kansas. These incentives are available to all buyers, not just first time home buyers.

The first incentive is a $100 down payment on all HUD homes. This is an incredible deal since there are very few down payment assistance programs available for Johnson County.

The Second incentive is a $1500 sales allowance that can be used for closing costs or prepaids such as insurance or property tax escrows. To use this incentive you must make a full price offer.

For both programs you must occupy the home and your primary residence.

Currently there are 12 HUD homes available in Johnson County and many more available in Wyandotte County. To see all of the HUD homes available click on our MLS Home Search.

For more information on HUD homes and the $7500 tax credit visit our website www.SearchjocoHomes.com or give us a call at 913-681-1383 to set up you no obligation buyers consultation.

I know what you are going to say, not another realtor trying to tell me how great the market is. I am not going to tell that the market is great. For a lot of people out there right now it is a nightmare but if you are first time home buyer that nightmare could turn into your dream home. I am going to give you my top 5 reasons to buy your first home right now.

1. Fantastic inventory of homes to choose from- I highly doubt that you will find a time with a better selection of homes. I am not just talking about foreclosures or short sale homes but new homes, resale homes, condo's & lofts. Compared to 2 years ago there are almost twice as many homes to choose from.
2. Lower Prices- Plain & simple, home prices have fallen and by as much as 10% or more. It is called supply & demand, when there are more home sellers than home buyers prices go down. Lower prices mean lower mortgage payments and lower property taxes also.
3. Low interest rates- For most first time buyers the rate 6% doesn't mean much but take it from someone who paid 9% when he bought his first home that 6% is a really low rate. It is one of the lowest rates in over 40 years. Don't take this low rate for granted, when Jimmy Carter & Ronald Reagan were president the rate was over 15%.
4. $7500 Tax credit- I don't know why this is getting lost. Come next April 15th your tax refund from the IRS will have an extra $7500 in it. Big screen TV, New Car, remodel the kitchen. Think what you could do with an extra $7500.
5. Desperate times equals desperate measures- Sellers need to sell their homes and you could be the beneficiary. Right now there are sellers willing to pay your closing costs, make extensive repairs and even repaint rooms or replace all of the carpet to get you to buy their home.

Take a look at who has been buying lately. People who get rich in this country buy when the market is down, not up. Why do you think there are so many homeowners in trouble right now. They bought at the top of the market. Be the smart one like Warren Buffet and buy at the bottom.

For those of you who realize that now is truly the best time to buy, click below to see all of the great homes available with my MLS Home Search

This is the opinion of The Russell Home Team and if you wan't to laugh me off as a realtor that full of hot air, go ahead. But I know that real estate is one of the best long term investments you can ever make. For a free no obligation buyer consultation and mortgage preapproval call us today, not tomorrow at 913-681-1383 or email me right now at michael@russellhometeam.com If you are still skeptical that's o.k. you can go to our website and look at pretty homes till your hearts content www.searchjocohomes.com

Home foreclosures in America are rising, not only are they rising but they are through the roof (no pun intented). The sad things is that home foreclosures are avoidable. That right, they are avoidable. If you are a homeowner there are 2 things you have. The first one is rights and the second one is options.  You have the right to keep your home. If you wish to keep your home, there are ways to keep it. If you don't want the home anymore than you have options. There has never been more options than right now.

If you wish to keep your home you should consider the following ideas:

1. Talk to your lender today. Do not wait 1 more day to let them know you want to stay in your home. The sooner they understand your intentions, the better off you will be, plus they take no contact from you as a sign of unwillingness.
2. Ask- Ask your lender for options like better terms, lower interest rate, longer term, just ask for help. Better yet demand it.
3. Seek help, there are plenty of hotlines available to help you work out options with your lender. Remember this, your lender does not want to foreclosure your home. They are in the business of lending money, not owning homes. It costs them a lot of time & money to foreclose your home.

If you do not wish to stay in your home:

1. Sell it, plain and simple put it up for sale.
2. Short sell it. If you owe more money on the house than it is worth you can ask the bank to accept less than is owed. This is called a short sale and it is very common.
3. Give the house back to the bank- This is called a deed in lieu of foreclosure. If the bank accepts you will avoid foreclosure and have a smaller impact on your credit and ability to purchase a home in the future.

If you are facing foreclosure or are having a tough time hanging on you are not alone. As a homeowner you have rights and they are guaranteed by the laws of the state you live in and you also have options

The key thing is to do something, don't let your home be foreclosed without a fight.

If you need help, start here: Foreclosure Hotline

1-888-995-HOPE or check out their website at www.HopeNow.com

Don't wait until it is too late, if you do not or cannot stay in your home contact the Russell Home Team for a confidential consultation. 913-681-1383, michael@RussellHomeTeam.com  www.SearchjocoHomes.com

Every day we are hearing or reading about home foreclosures. How they are soaring and banks are loosing billions. What is forgotten is the poor homeowner who loses their home. More and more homeowners are looking for help avoiding foreclosure and banks are finally offering the kind of help needed. There are many ways to avoid foreclosure and if all other avenues have been exhausted you might want to consider a short sale.

So what is a short sale? A short sale is when you sell your home and you ask the bank to accept less money than they are owed.

Why would a bank accept this? Because it will most likely cost them more Time & money to foreclosure your home.

What does the short sale process entail? You will put your home up for sale like normal. Once you get an accpeted offer you will apply to the bank to accept the short sale.

Why would I want to do a short sale? It will help you avoid foreclosure and should help you take less of a finacial hit than a foreclosure. It should also make it a lot easier to become a homeowner again.

Some Short sale FAQ's

• You must show financial need for a bank to consider you for a short sale
• There are possible tax consiquences related to a short sale ( Consult your tax advisor)
• Time is of the essence, if the bank has started foreclosure you need to make a decision now.
• Ask a professional, always consult professionals if you are unsure.

The Russell Home Team are experienced negotiators. If you are facing foreclosure and don't know where to turn call us for help. Our goal is to help you save your home but when all options fail we know how to succesfully negotiate with your bank.

Call us today at 913-681-1383 or email me in confidence to michael@russellhometeam.com

Maybe you have seen the commercials or have read about it on the internet or maybe you haven't. As part of the Housing stimulous bill passed in August congress approved a $7500 tax rebate incentive to fisrt time home buyers. If you have been considering purchasing a home in Johnson County Kansas and are a first time buyer? watch this short informative video to see how you can get a $7500 rebate on the purchase of your first home.

Now may be the best time ever to purchase a home. Get started now, click the link below to see all homes available in Johnson County, get pre-approved for a mortgage & find out about the $7500 tax rebate for first time buyers.

This report is brought to you by the Russell Home Team, your Johnson County Kansas Home Experts. www.Searchjocohomes.com