Overland Park KS Homes for sale & Johnson County Real Estate Blog: February 2009

Yes now is the time to buy your first Johnson County Home. $8000 for you.

13725 W. 58th Terrace #8

Shawnee, KS 66216

108,900

• 2 bedroom
• 2 full baths
• all appliances including washer/dryer
• walkin closet
• 2 story unit with loft
• covered patio
• dining room
• family room w/ fireplace
• move in ready
• perfect for 1st time buyer

To see all johnson County Ks Homes for sale Click Here

This condo is proudly listed by The Russell Home Team 913-681-1383 www.SearchjocoHomes.com

A lot of people have heard the term Short Sale but few people and even some Realtors don't have a clue what one is.

In the most simple term. A short sale is when you sell your home for less money than is owed to the lender and the lender accepts the payoff. Now normally you would be responsible to bring a check to closing to cover the shortage but in a short sale the lender accepts what is being odffered as final payment and releases the mortgage.

Why would a lender do this? Many reasons but the most important reason is that foreclosures cost them even more. Foreclosures create several problems for lenders, mainly being time and resources. The lender must employ a small Army of Attorneys to process the foreclosures and they must also wait a long time before they can take the property back and then re-sell it. A lot of this can happen during that time. The home can be vandalized, the pipes could freeze, the lawn and exterior start deteriating almost immediately. That is to just name a few things. But lets get back to the short sale. If you are behind on payments or are struggling to make them you should consider selling your home Short. Here what will need to happen to sell your home via short sale:

• Submit package to bank- they are not going to allow you to do this just because you want to. They will make sure that you are qualified, meaning debt are greater than income and you don't have $30,000 hiding in a saving account somewhere.
• List home for sale- You will need to contact a realtor and not just anyone, a realtor who has succesfully negotiated short sales before. You will need to list your home for an appropriate price based on it's current appraised value, not what you think it is worth.
• Get an offer- This is when is gets hard and why you need a qualified realtor. The number one reasons short sales fail is because of the buyer losing faith in the process. After receiving an offer you will be half way home.
• Close the sale- Your realtor will help get the sale closed from there, just like if your home was for sale without contingencies.

If you are behind on your payments and owe more than your house is worth, you need to contact a qualified realtor today. This is not a next day approval process. Your ability to purchase a home in the future is tied to this.

Call us

913-681-1383

email us

info@RussellHomeTeam.com

Website

www.SearchjocoHomes.com

copyright 2009- The Russell Home Team, Johnson County kansas Real Estate Experts 

As we all know times have been tough for a lot of us. Here in Johnson County we are pretty fortunate to not have suffered as bad as other areas. But there is much more hardship than we see on a daily basis. There are a lot of home owners who are having a very hard time making ends meet. While Johnson County is not seeing the same kind of foreclosure numbers as Wyanndotte County or Kansas City, we are seeing an increase in foreclosures. I wanted to write this post to help those who are in that tough situation.

First off I want you to know that I am very sympathetic when it comes to the possibility of losing your house. It is not just about losing the place you live. Over the last 2 years we have helped a lot of families in tough situations and want to help you.

Avoiding foreclosure is a decision and it is one that only you can make. Right now over 30% of foreclosures happen without a single contact to the lender or anyone else for help. You have to decide to ask for help, denial is not a river in Egypt. Here are some of the most common ways to avoid foreclosure, none of them are simple but they are better than losing your home without a fight.

Stay in your House-   If you wish to stay in your, then you must act. Your lender does not want to foreclose your home, I repeat, your lender does not want to foreclose your home. But if you ignore their phone calls & letters they will start foreclosing on you. They must hear from you and you must make them understand that you want to keep your home.

Right now, lenders are creating new ways to keep you in your house. Loan modifications are happening every day. Listen to this point very strongly, do not pay anyone to help you get your loan modified. I repeat, do not pay anyone to help you get your loan modified, call 1-800-hope now. That is the free governement website to help troubled home owners. If your lender cannot modify your loan proceed to next step.

Sell it- Yes, sell your home. Not what you want to hear but it beats losing your home to foreclosure. Selling your home will help save your credit and give you the opportunity to be a home owner again in the future. Most foreclosed home owner have to wait 7-10 before being able to buy a home again, if ever. If you owe more on your home than it is worth, move to the next step.

Sell it using a short sale- So your home is worth less than you owe the bank, you are not alone. We have seen a massive loss of equity in the last 2 years. When  I said that banks don't want to foreclose your home, I meant it. They would rather have you sell it for less than is owed them than foreclose. When a back accepts a lower payout than it is owed it is called a Short Sale. Short sales are prevelant and banks are accepting them at a record pace. Short sales are a win, win situation. You avoid foreclosure and the bank has 1 less property to try and sell. While your credit will suffer, it won't suffer as bad as a foreclosure and based on current Fannie Mae guidelines you will be elligible to buy a house again in 2 years.

Ask the bank to voluntarily take it back- If all else fails, ask the bank to take it. It is called a Deed in Lieu of Foreclosure. Under the right circumstances, this option will save you a lot headaches, save your credit and let you walk away from the home on your terms. Many banks will even give you a small cash amount to help you move if you give them the home in clean condition.

Those are some of your options: Remember don't let your home be foreclosed without a fight. Call someone, start with your lender, if that doesn't work call 1-800-Hope-Now and when keeping your home no longer is an option call a qualified Realtor. The clock is ticking, so get started.

For more information call The Russell Home Team @ 913-681-1383

email us at info@RussellHomeTeam.com

or our website www.SearchjocoHomes.com

Are you looking to buy a home in Johnson County Kansas? Are you a first time home buyers or haven't owned a home in the last 3 years? Well then President Obama has an innauguration gift for you. It is an $8000 tax rebate when you buy your first home. This $8000 tax rebate replaces the $7500 rebate previously offered. There is one huge difference between the $8000 and the $7500 rebate, the new $8000 rebate does not have to be re-paid.

That's right, it is your to keep, spend, invest, buy new carpet, re-do a kitchen, whatever your heart desires. If you have sitting on the fence about buying a home you might want to get down. Interest rates are still near their alltime lows and there are more properties available then ever before. Plus there are deals aplenty, between Bank Foreclosures, HUD homes, Short Sales and corporate relocations you will surely find the home you have been looking for at a price you can't ignore.

To start Search for your Johnson County Kansas Dream Home Click here 

This report is brought to you by the Russell Home Team, your Johnson County Real Estate Experts.

913-681-1383 www.SearchjocoHomes.com

11080 Century Lane Overland Park, KS 66210

$237,500

• 4 bedrooms
• 2 1/2 baths
• wood floors
• fenced yard
• Quivira Farms Subdivision
• spacious kitchen

To see All Johnson County KS Homes for sale Click Here

This home is proudly listed by The Russell Home Team, your Johnson County Kansas Home experts. 913-681-1383 www.SearchjocoHomes.com

13725 W. 58th Terrace #8 Shawnee, KS 66216

$108,900

1st Time Buyers ask about $8000 Tax rebate

• 2 bedrooms
• 2 full baths
• spacious family room w/ fireplace
• covered patio
• dining room w/ wood floors
• Kitchen w/ all appliances
• Covered carport
• Community has pool & clubhouse

For more information please call the Russell Home Team at 913-681-1383

To see all Johnson County Homes for sale Click Here

This Shawnee KS condo for sale is proudly listed by The Russell Home Team 913-681-1383 www.SearchjocoHomes.com

11080 Century Lane

Overland Park, KS 66210

$237,500

• 4 Bedrooms
• 2 full & 1 half bathrooms
• family room w/ fireplace & built-ins
• hardwood floors
• finished basement
• fenced yard w/ deck
• newer roof & exterior paint
• large kitchen w. island, desk & butlers pantry

Quivira Farms subdivision, a small close knit community

To see all Overland Park Homes for sale Click Here

This home is proudly listed by the Russell Home Team, your Overland Park Real Estate experts. 913-681-1383 www.SearchjocoHomes.com