Overland Park KS Homes for sale & Johnson County Real Estate Blog: January 2008

The FED lowered interest rate again today. While this will hit the headlines as great news, I am viewing it as a  a double edged sword . On one hand this will potentially help the real estate market. Lower interest rates could help move cautious buyers of the fence. It could help create a refi boom for my lender friends. While it will be seen as a proactive move by our government to prevent a recession I have to wonder how did we get here? and Are we letting the culprits off Scott free?

The FED decided that economic stimulation was more important than inflation, while most of us are struggling with the every day essentials already. How long will it be before gas hit's $5 a gallon, milk $6 a gallon. So the question I really want to ask is? Will Wall Street ever be held accountable for their actions anymore? I don't see the government lining up to bail me out of crappy investment into Krispy Kreme donuts. Before we all start shouting hooray let's make sure we realize the long term costs to all of us. Please don't take my word for it, let me know what you think.

Copyright 2008 The Russell Home Team 913-681-1383 www.SearchjocoHomes.com

Last fall the National Association of Realtors came out with their new campaign. "Now is a good time to  buy or sell a house" It was a one size fits all message that they wanted us all to adopt. Well the question that I want to ask is it really a good time to buy or sell a home?

That is where the one size fits all message runs flat. For some people right now is an awful time to sell their home. If you recently purchased your home or if there are a lot of homes already for sale in you area not selling your home is probably the best thing you could do. One of the major things that moves housing markets is supply and demand. Too much supply and not enough demand, prices go down. Not enough houses and a lot of buyers prices go up. No surprise there. What a lot seller don't realize is that there is a big difference between wanting to sell and needing to sell. For those of you who just want to sell you might improve your position by keeping your home off the market thus allowing the inventory of homes to shrink. By removing supply you can create more demand.

However for many people now is a great time to buy or sell. If you have lived in your home for a long time or are looking to get into you first home. You can benefit from years of built up equity and extremely low interest rates. For move-up buyers the reality is if the value of your home has decreased, so has the property you are wishing to buy. The last time I checked 3% of 300,000 is more than 3% of 200,000 so you actually are trading up to a better deal.

I think the point I am trying to make is that, there is no one size fits all for real estate. For every person who is struggling to sell their home, there is another person who's timing couldn't be better. Either way the key is finding a person who will listen, understand your needs and offer sound advice. Don't let ad campaign, negative press or what is happening to your neighbor be your guide. Only you can choose the right path, because your situation doesn't fit the one size fits all model nor does mine.

Copyright 2008 The Russell Home Team 913-681-1383  www.SearchjocoHomes.com

While many areas of the country have seen declining home prices Overland Park KS has held it's ground. While not every area of the city saw a price gain many subdivisions did show a gain. Shadow Brook in Southern Overland Park is one of those subdivisions. Home sales in Shadow Brook were brisk in 2007 with price appreciation and low days on the market.

Shadow Brook benefits from it's fantastic location just off Metcalf BLVD & 143rd. It borders other fantastic subdivision like Fieldstone and Birchwood Place. Below is a compilation of the 2007 sales

 Homes Sold                         10

Average Sales Price           $341,690

Average day's to sell         41

High sale                              $389,000

Low Sale                              $301,000

To see how much your Shadow Brook Home is worth instantly click Here

To see all of the Great Homes in Shadow Brook Click Here

Copyright 2008 The Russell Home Team 913-681-1383 www.SearchjocoHomes.com

For many people 2007 was a year of up's and down's. That would be a really great way to describe the housing market. Some neighborhoods were up and some were down. Well Willow Bend in South Overland Park was one of those neighborhoods that was up. 2007 saw a solid year of home sales and price appreciation.

One of the reasons that home sales coninue to grow in Willow Bend is that it is one of the most affordable subdivisions in Southern Johnson County plus it feeds into the Blue Valley School system. Willow Bend is still poised for more growth, if you are looking for an affordable home with good schools for your children Willow Bend is a great choice.

Let's take a look at the 2007 Home Sales Report

Homes sold                          17

Average Sales Price         $203,022

Average days to sell         31 (incredibly low)

Highest Sale                       $221,000

Lowest Sale                        $182,950

If you would like to see how much your Willow Bend house is worth immediately ? click Here

Want to find a home in Willow Bend?

Copyright 2008 The Russell Home Team 913-681-1383 www.searchjocohomes.com

You have all read the media or reports or at least seen the TV reports. The Housing market, the sub prime mess, foreclosures on the rise. So what is one to believe? I personally believe in Hard DATA. That is where the truth lies.

While some areas of the East & West coast have seen double digit losses, the Kansas City metro area has held tough. Some areas have even seen price gains. Johnson County is one of those places and Blackthorne Estates is one of those subdivisions that have held their own through tough times.

Blackthorne Estates 2007 Home Sales report

Homes Sold                  18

Average Sales Price       $397,004

Average Days to Sell      70

Highest Sales Price        $501,406

Lowest Sales Price         $325,000

This report compliments of the Russell Home Team, your Johnson County Kansas home experts www.WeSelljoco.com

2007 brough a lot of ups and downs for the Home Market, while some areas of the country saw double digit losses The Kansas City metro market saw only a very small loss. While the Metro are saw a loss as a whole many areas saw increases. Green Meadows is one of those subdivisions that faired very well.

Grren Meadows in Overland Park is a family friendly subdivision of Single Falily residential homes border by 151st & Nall Avenue. The subdivision is surrounded by many businesses including restaurants, supermarkets and recreation centers. Green Meadows is located in the highly regaded Blue Valley School sysyem.

Let's take a look at how the Home Sales faired in Green Meadows in 2007

Homes Sold                                17

Average Sales Price                $233,373

Average days to sell               33

Highest Sales price                 $305,000

Lowest Sales price                  $170,000

Find a homes in Green Meadows           Find out hou much your Green Meadows home is worth?

This report compliments of The Russell Home Team, your Johnson County Kansas home Experts www.WeSellJoco.com

Have you ever heard that there is 3 sides to every story. His side, her side and the truth. Well over the last year there has been 2 sides brewing to the real estate story. The media VS. The National Association of Realtors. Well I want to present the truth. 2007 was a solid year in Homes sales, in comparison to other years it was the 5th best year on record.

So how does this affect me? If you live in Birchwood Hills or Place it affects you very well. Home Sales in 2007 were very strong. Don't believe me, take a look at the statistics because they don't lie.

Homes Sold                            21

Average Sales price             $268,123

Average days to sell            30

Highest Sales Price              $312,000

Lowest Sales Price               $215,500

See homes for sale in Birchwood                 Find out how much your Birchwood home is worth

Compliments of The Russell Home Team, Your Johnson County Home Experts  www.WeSelljoco.com

Youve seen the show on HGTV. They take you to a house, they show you all of the lovely things that they have done. Then they show you all of it's shortcomings. After all of the hoopla they bring in a local Realtor to tell the homeowner how much the home is worth. Well if you have ever watched the show, you know how long and drawn out the final value is. A couple of gazing looks from the owners and a look of shock from the Realtor and they finally reveal their price opinion.

Well if you want to know how much your home is worth, you don't need to know someone at HGTV and you surely don't have to wait through six commercial breaks before getting your answer.

All you have to do is click on the link below, type in some information and whalla. My home is worth this much

 Compliments of the Russell Home Team- your Johnson County Kansas Home Experts- www.WeSelljoco.com

While many home saw price declines and longer days on the market, The Wilderness subdivision in Southern Overland Park showed amazing resolve with prices increasing and days on the market remaining very low.

Wilderness is bordered by 159th & Nall Ave, not even the construction on Nall avenue could slow down sales in 2007. The subdivision features mostly 2 story single family residential homes from renouned local builders like JS Robinson & Hoelting. Let's take a look at the 2007 Home Sales in Wilderness

Homes Sold                                          33

Average Sales Price                         $330,052

Average Days on the Market          53

Highest Sale Price                             $425,000

Lowest Sales Price                           $248,500

Is purchasing a new home on your 2008 agenda? Let The Russell Home Team make your next move, smooth and enjoyable.

        See homes for sale              How much is my home worth?

Copyright 2008- The Russell Home Team-913-681-1383, www.WeSelljoco.com

On Saturday February 23rd The Russell Home Team & Mortgage Lenders of America will be holding an Open House tour of 5 foreclosure homes in johnson County Kansas. If you have been considering purchasing a home this would be a great opportunity to view 5 recently foreclosed homes in the Johnson County Kansas area.

With the recent market slowdown there is a large inventory of Foreclosed homes that banks are really anxious to sell. Many of the homes have special incentives or financing available including No Down Payment and low interest rates.

If you are interested in joining our tour please call Michael Russell at 913-681-1383 or email me at michael@RussellHomeTeam.com and I will send you all of the details for the home tour.

To View Homes in Johnson County Click Here

Copyright 2008-The Russell Home Team-Your Johnson County Kansas Home Experts