Overland Park KS Homes for sale & Johnson County Real Estate Blog: January 2010

That's right, Searchjocohomes.com is now mobile. Now you can access the MLS to view all homes for sale from any mobile device. Our mobile website is GPS enabled. Sitting in front of a home and want to know how much it is? Driving around a neighborhood and wondering if there are any homes for sale? That's easy, just touch the map closest homes, list closest homes or search by address tabs. You can even search by city, neighborhood or school district. No more let's write that one down and look it up when we get home. With SearchjocoHomes mobile you get the information you want, when you want it.  

To get Search Johnson County KS Homes on your mobile device

Text "joco"

to: 87778

SearchjocoHomes mobile is a compliment to our website www.SearchjocoHomes.com and is a free service of The Russell Home Team, your Johnson County Kansas Real Estate experts.

Your Home Search goes everywhere you do!

Have you ever been out in front of a house and wanted to know how much it is? Maybe you are driving through a beautiful neighborhood and wondering if there are any homes for sale? Now you can take the MLS with you. Our new GPS enabled mobile SearchjocoHomes.com let's you search for homes by map, closest to you, address, neighborhood, schools and more. Getting SearchjocoHomes is easy:

Just

Text "joco"

To: 87778 

SearchjocoHomes mobile is a compliment to our website www.SearchjocoHomes.com, please use the links below to search for all Johnson County Kansas homes for sale, How much your Johnson County KS home is worth, Home buyer Tax credits and our award winning school districts.

Gardner Kansas available HUD homes January 2010

Are you looking to buy a home in Gardner Kansas? Are you having a hard time saving the 3.5% down payment to buy a home in Gardner Kansas? Stop saving and start moving because there are 3 HUD homes available in Gardner Kansas that only require a $100 down payment. Even better HUD will contribute 3% of the purchase price towards your closing costs. How about an even better incentive. If you are a first time home buyer in Gardner Kansas you may be eligible for the $8,000 first time home buyer tax credit. Take a look at the Gardner HUD homes available for January 2010

3 bedroom 2 baths $152,000

3 bedrooms 2 bath $137,700

3 bedrooms 2 bath $152,000

HUD properties are sold on a weekly or daily bid basis and sell quickly. You MUST have a HUD registered broker to bid on Gardner HUD homes

To see all Gardner HUD homes for sale and to get more information on the $8,000 first time home buyers tax credit, use the links below or call the Russell Home Team at 913-681-1383

Available Olathe Kansas HUD Homes for January 2010

Are you looking to buy a home in Olathe KS or Johnson County KS but lack the 3.5% needed to purchase a home. Then you should consider a HUD home. HUD homes only require a $100 down payment, not only that but HUD allows for up to 3% of the purchase price be applied towards your closing costs.

HUD homes sell quickly and are sold upon a bid offer basis. You will need a HUD registered broker to bid on HUD homes.

Currently there are 4 Olathe HUD homes available for bid

3 bedroom 1 bath $64,000

2 bedroom 1 bath $68,000

3 bedroom 2 bath $90,000

2 bedroom 1 bath $50,000

To view any or all of these Olathe HUD homes for sale call the Russell Home Team today at 913-681-1383

The Russell Home Team is a HUD registered broker is both Kansas and Missouri.

Tax credits for first time home buyers started in the fall of 2008 with a $7500 tax credit. This tax credit met little fan fare as it needed to be repaid. In early 2009 that tax credit was increased to $8,000 with no repayment. This tax credit helped restart a slumbering real estate market. As foreclosures and job losses mounted congress and President Obama were under a lot of pressure to keep the economy moving. So the November 30th 2009 deadline has been extended to April 30th 2010.

As the November 30th deadline approached it was no secret that an extension was more than likely to happen. But if you are sitting on the sidelines expecting another extension you will need to stop kidding yourself. If you are not under contract to purchase a home by April 30th, you just passed on the greatest home buying incentive ever offered.

Ready to get started? Use the links below to Search all Homes for sale

If you are a first time home buyer and have been holding off on purchasing that first home then you might want to consider the changes coming to FHA loans as another reason to purchase now.

FHA which is the Federal Housing Administration, the government agency who guarantees low down payment mortgages is making changes and they are not in your favor. Most of these changes will be enacted this spring and early this summer. Now remember that April 30th is the deadline to be under contract on a house to receive the $8,000 first time home buyer tax credit but you need to close by June 30th. This where the problem comes in. By waiting till the very end you may fall into the new guidelines. And what are they?

1. Minimum Credit score increased to 580 from 500

2. Upfront mortgage insurance increased to 2.25% from 1.75%

3. Monthly mortgage insurance premium increased (exact amount unknown yet)

4. Amount of  your closing costs a seller is allowed to pay, lowered to 3% down from 6%

   
   
   Do you get the picture? All of this will cost you more money, not just upfront but on a monthly basis. Now this doesn't take into account that on April 1st, the Treasury is going to stop purchasing Mortgage backed securities. Early estimates have interest rates climbing from 5% to 5 3/4% maybe even 6%. This will also cost you more money on a monthly basis or severely lower the amount of home you qualify for. Are you ready to risk your ability to purchase a home? 
   
   
   The cost of money is going up very soon, are you going to wait?
   
   
   Call The Russell Home Team today at 913-681-1383 or use our link below to view all homes for sale in Johnson County Kansas, get tax credit information and more.

Are you looking for a home in Johnson County KS? Do you own an iphone? Well then I have some awesome iphone apps for you to try. With some of these new apps you will be able to locate homes for sale, get instant property values and so much more

Zillow- Allows you to search homes by area using google maps. You can save your favorites, view mutiple photos. Plus you can get immediate property value estimates called Zestimates.

Trulia- Very similar to the Zillow app 

Realtor.com- This app is pretty new but it is well designed. The search function are fantastic and the mapping is really good. Just tap on homes nearby and you will immediately get a list of available homes in the neighborhood. I can see a buyer using this , especially since it is free.

Google Earth- Want to know if the house is under powerlines or next to a used car lot? Check it out on google earth.

If you love your iphone as much as I do and you are looking for a home give these apps a try. When you are ready to see the inside call the Russell Home Team at 913-681-1383

Brittany Park, Brittany Highlands, Brittany Pointe Overland Park 2009 home sales report

Homes Sold                                          25

Average List price                              $196,000

Average Sold Price                            $192,000

Average days to sell                           41

Highest sales price                            $219,000

Lowest Sales Price                            $170,000

A lot for a little, that is what you get in the Brittany subdivisions. Quality low priced homes, Brittany features mostly 3 & 4 bedroom two story or split level single family homes. Built mostly in the mid early 90's Brittany feeds into the coveted Blue Valley School District and is close to everything that South Overland Park and Johnson County has to offer. You will find a fantastic selection of restaurants like Frida's or Jalepeno's and shopping with Price Chopper, Target and Super Walmart all close by.

For a family on a budget and looking for good schools, Brittany might just be your subdivision. For more information on Brittany and South Overland Parks other affordable subdivision like Willow Bend, Sylvan Lake, Green Meadows and more. Call The Russell Home Team today at 913-681-1383 or use our links below.

There has been something about this down real estate market that has been completely different than other down markets. It is that interests are not only low but they are the lowest they have ever been.

Interest rates have been so low for so long that we have become spoiled. I get asked all the time what the current rates are, and when I answer 5% I get a look like whatever. I quickly realize that this person has never paid 9% or 15% like some people did in the early 80's. Well one of the reasons that rates have stayed this low is because the Treasury has been artificially stimulating the mortgage market.

Well on April 1st that is going to end, the Treasury is scheduled to stop buying mortgage backed securities and allow the market to sink or swim on it's own. Many economist believe that we will see a 1/2 to 3/4 percent increase in interst rate shortly after then and the possibility of 6 to 7% interest rates by years end.

So how does this affect you? Purchase power, when interest rates rise it costs you more and you lose purchasing power. So how much, 10% for every 1% in interest rate rise. Today you may be qualified to purchase a $200,000 home at 5% but if rates go up to 6% you can only purchase a $180,000 home for the same monthly payment and if they go to 7% then you are down to $160,000. Big difference, huge difference.

So is the party over? After April 1st it just may be.

Regency by the Lake Overland Park KS 2009 Home Sales Report

Homes Sold                                        18

Average List Price                            $251,000

Average Sold Price                           $245,000

Average days to sell                         55

Lowest Sales Price                          $198,000

Highest Sales Price                          $282,000

Regency by the Lake is  small subdivision tucked comfortably in behind Lionsgate and Lakewood Elementary and Middle schools. But don't let it fool you, Regency by the lake has all the amenities of a big subdivision. A big community pool, a walking path around the lake and of course walking distance to some of the best schools in the country.

Regency by the lake is also close to tons of other amenities like LLwellens Pub, Coach's sports Bar and the new Frida's Mexican Cantina. 

Regency by the lake is a highly sought after subdivision for it's bang for the buck, it would be very hard to find another subdivision that gives you so much for the average $245,000 sales price.

If you are interested in Regency by the Lake? Check this great home or call The Russell Home Team today at 913-681-1383 or you can use our links below