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

Are you thinking about buying a home but waiting until the market drops even further?  Then now is the time to act!  There is a program available to you that combines low home prices with buyer financing incentives designed to get you the home you want before the end of the year.

Fannie Mae’s Home Path program provides a way for buyers to purchase foreclosed homes by making the lending process easier.  What specifically does the Home Path program provide?

• ·      Buyers get up to 3.5% in closing cost assistance.
• ·         Low down payment of only 3% of the purchase price. 
• ·         The down payment can come from many sources including savings, a gift, a grant, or a loan from a nonprofit, state, or local government or an employer.
• ·         No private mortgage insurance required.  This is a significant savings because private mortgage insurance is usually required for home purchases that do not have a 20% down payment.  This is a savings of .75% of the entire loan amount.
• ·         No appraisal, saving the borrower approximately $400 in closing costs.
• ·         There are no income limits or housing cost limits.
• ·         Renovation financing may be available.
• ·         Home Path is available only to those intending to occupy the home.

What’s the Catch?

The Home Path program is offered for a very limited time.  Buyers must close on a property within sixty days of the offer’s acceptance and no later than December 31, 2010.  Fannie Mae recommends that you be under contract by November 15, 2010 to meet the December 31 closing deadline.

What’s Available in Johnson County?

There are 87 foreclosed homes that qualify for this program in Johnson County between $40,000 and $460,000.  The inventory changes frequently as buyers find out about Home Path and act quickly.    

Click Here to See All Johnson County Foreclosed Homes

1311 Willow Drive

Greenwood Missouri 64034

$129,000

Priced way below Market Value for a quick sale

This 3 bedroom 2 bath California Split is priced to sell today at $129,000. County appraised value for this home is $180,000. Instant equity for the right person. 

• 3 bedrooms
• 2 full bathrooms
• jetted whirlpool tub
• gas fireplace
• eat-in kitchen
• newer ceramic top stove 
• deck
• covered front porch
• full basement
• 2 car garage

This South Johnson County community feels like living in the country with all of the city amenities.  Blackthorne estates is located off of Mission Road and 157th Street, falling into the desirable Blue Valley School District.  Whether you want to build a home from scratch or buy a resale, both options are available in Blackthorne Estates.  The community is in proximity to shopping, restaurants, salons on both the Kansas and Missouri side of the state line.  

Blackthorne Estates Home Sales Report for January through September 2010

Homes Listed 8 (5 active, 3 under contract)

Homes Sold 7

Average List Price $387,129

Average Sold Price $365,857

Average Days to Sell 265

Highest Sale Price $495,000

Lowest Sale Price $317,000

Click Here to see all Blackthorne Estates homes for sale

If you are interested in more information on Blackthorne Estates home sales, please contact Michael Russell at (913) 735-7104.

The year was 2005 and all a seller had to do was put a sign in the front yard and it was gone. That year marked the highest sales level for homes ever. While 2006 wasn't at gang buster pace like 2005, sales were pretty strong until about August. After August we started to see our first real slowing of the market since late 2001. But what happened at the beginning of 2007 is happening again right now. Seller's weren't willing to face the fact that their home value was falling and they dug their heels in deep and refused to lower their prices. Well a funny thing happened, the buyers who just a year or so prior that were willing to pay anything just to get any home under contract before getting outbid dug their heels in also. What we had was an old fashion stalemate.

Well we are seeing it again, seller's either unwilling or unable to lower their asking prices are digging their heels in deep and are preparing for the long haul. They seem less worried about days on the market and buyer perception than ever before. Many are prepared to wait it out for a higher sales price or take their home off the market and re-list in the spring.

While the sellers are settling in for what could be a cold dark winter for homes sales, buyers seem to be completely unfazed. Looking for a great deal, they are waiting to see what the elections and economy might bring. They are not worried about losing properties to other buyers because their are 3 more houses just like that one still available. In their mind the market can only get better for them. More foreclosures? Great, that should mean lower prices. Interest Rate, those things aren't going up until somebody around here get's a job. Why do I need to buy a house right now? Anyone, please.

So who will win this tug of war? Right now I looks like the buyers have the tightest grip on the rope. They feel like they don't have much to lose by waiting. But if you are a seller and a buyer you will probably be the biggest winner. While your house might sell for a little less than you anticipated, you could reap a big reward in your replacement home. You know it is simple math. The bigger they are, the harder they fall or should I say the higher the price the bigger the potential discount.

With interest rates lowering to 4.5% you will have saved 10% of the homes value, plus with the prices going down, the inventory and not having to fight every other buyers for homes you are the winner. Now all you have to do is actually participate.

Just Listed

5003 W 157th Street

Overland Park, KS 66224

Hampton Place Subdivision

$264,000

• 4 bedroom
• 3 full 2 half bathrooms
• Hardwood Floors
• Corian Counters
• Spacious eat-in kitchen
• Formal Dining room
• Home Office Den/Study
• See through fireplace
• Newly finished basement

For a private showing call Michael Russell at 913-681-1383

The Steeplechase subdivision in Leawood Kansas has had a fantastic year of Home sales so far. Steeplechase borders the corner of 143rd Street and Mission Road. Steeplechase is part of the Blue Valley School System and is directly across the street from Prairie Star Elementary and Middle Schools. Developed and built by Pulte Homes, Steeplechase is a unique mixture of 2 story homes all with side entry garages. Steeplechase also features an exercise trail that adjoins Ironwoods park. Here is a look at the homes sales so far this year

Steeplechase home sales from January to September 2010 

Active homes for sale                         7

Homes Sold                                         7

Average List price                             $368,393

Average Sold Price                           $362,300

Average days to sell                         108

Highest sales price                          $410,200

Lowest Sales Price                          $282,500

Click Here to See all Steeplechase Homes for sale

Want more information on Steeplechase? Call the Russell Home Team at 913-735-7104 or visit our website at www.SearchJocoHomes.com 

Are you looking for a reasonably priced home in the Blue Valley School District? Have the prices of homes in South Overland Park kept you from making the big move? Then I have a suggestion for you, the Brittany Pointe, Brittany Park and Brittany Highland subdivisions. These 3 subdivisions are some of the most affordable in South Johnson County and all feed into the Blue Valley School District. Not only are the price affordable but they are also close to amenities like Price Chopper & QT plus great restaurants like Jalapeños, Mi Ranchito and more. With easy access to Highway 69 and Metcalf The Brittany subdivisions are a great destination for any family whether you are just starting out or are moving up.

Brittany Pointe, Brittany Park, Brittany Highlands Home Sales Report January thru August 2010

Active homes for sale                     15

Homes under contract                      2

Homes Sold                                     21

Average List Price                          $202,262

Average Sold Price                         $198,120

Average days to sell                       80

Highest sales price                         $237,000

Lowest Sales Price                         $173,000 

Click Here Now to See all homes for Sale in all 3 Brittany Subdivisions

For more information on The Brittany's call The Russell Home Team today at 913-735-7104

You will want to clear your calendar for October 13th because ReBarCamp is coming to Kansas City. The Town Pavilion conference center will play host to an incredible and unique day of idea sharing, networking and learning. To make the day even more special there will be some famous Kansas City BBQ to keep the tank topped off and the mind strong. 

Registration is now open for this free event and space is limited, so don't wait.

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