Selling Kansas City homes fast

If you’re a seller waiting to put your home on the market due to COVID-19 uncertainties, delaying may cost you. Now is the time to act. It was a busy spring, and it’s continuing this summer.

Take advantage of the demand from buyers. They’re eager to take advantage of amazingly low-interest rates. It’s competitive for buyers because there is limited inventory. This is a huge bonus for sellers who have less competition when selling.

If safety is a concern, we take a number of precautions to keep your family safe during and after showings. We ask that you turn on all lights and open doors before a showing. We also provide booties, require masks for buyers, and provide hand sanitizer.

Homes are selling so quickly, you don’t have to worry about showing your home for weeks at a time. When priced right, your home will sell quick. Plus, you’ll get multiple offers so you can get thousands over list price!

Our team stages homes as a complimentary service for all our sellers. So, when a buyer walks in they’re drawn to the home’s best features. It’s proven to get homes sold faster and for more money. Need an example? how about this home? We had 15 offers on it! That can be your house too.

We’re even experts in selling vacant homes! Check out our virtual home staging that gets your home to stand out online!

Why the KC market is hot for sellers

So, beside interest rates what makes 2020 one of the best times for sellers in Kansas City? The lack of inventory.

There’s still a shortage of inventory both with resale properties and in some cases new construction neighborhoods. Supply was down nearly 39-percent in the KC area in May and 44-percent in June, according to the Kansas City Regional Association of Realtors®.

During the Greater Kansas City Spring Parade of Homes, we sold a number of homes. Previously, new construction filled the gap on the resale market. New homes are still competition for your resale property, however, buyers may have to wait to get one whereas a resale property can be available in just 30 days. Some buyers need quick home sales, and resale properties get the upper hand in Kansas City market for that factor.

With less to choose from for buyers, homes sell quickly. Showings are up nationally, and also here in KC. It’s not uncommon for our team to have several showings in 24 hours, especially on homes under $200,000. Often, these showings happen before we even have photos back.

While our complimentary home staging will get your home show-ready, there are also a number of things you can do to make it picture-perfect. Get our step-by-step guide to getting your home ready to put on the market.

Homebuyer advantages

If you’re looking for a home, you have a great opportunity to save tens of thousands of dollars over the life of the loan. First, interest rates are at historic lows. We’ve been saying this for awhile, but they’ve dipped even lower.

In Missouri, most lenders are offering rates at or below 3.25%, according to the Consumer Financial Protection Bureau (CFPB).

By shopping around for a mortgage, you can ensure you get the best rate and save the most money.

Want to get a good estimate based on your down payment and home loan amount? Try this CFPB calculator to see how much interest you’ll pay on your loan and how a slight rate shift can impact your costs.

Second, prices are steady with barely a change year over year. That’s great for home buyers looking to make their dollars go further. The 12-month average is only up 5 percent for resale properties and about 2 percent for new construction. So, despite lower inventory prices are not soaring.

It is competitive due to lower inventory but teamed with a buyer’s agent who has your interests in mind, you can find the property you want with a competitive offer.

Courtesy: KCRAR

Kansas City new construction

New construction is still a great option if you can’t find what you like on the resale market. Our team works with several builders in neighborhoods through Grain Valley, Lee’s Summit, and Blue Springs.

New homes are selling quickly. In fact, there was a 20-percent drop in the number of days on the market in May which takes into account the increased activity. Don’t delay if you see a lot or home you like.

Look at this as an opportunity if you’re a buyer who wants to add customizations to a home. With homes just starting the construction phase, you can put the finishing touches on a home.

You can browse all our neighborhoods to see the homes that are available. Call for the latest lot options as they change frequently. These are the custom home builders we work with and their floor plans.

What questions do you have? Contact our team today to find the option that’s best for you!

The post Kansas City Real Estate Market Trend: Homes Selling Fast appeared first on Sally Moore Real Estate Team.

Kansas City Housing Market

There are lots of questions for 2020 some of which impact the housing market. Who will become the next President, will there be a recession, and will mortgage rates stay low? However, with a looming trade deal with China, optimism is growing that the predicted downturn in the economy will not happen or will not have much of an impact on real estate, especially in the KC area.

There is great optimism for home buyers with historically low-interest rates, affordable prices in this area, and amazing Kansas and Missouri down payment programs.

The demand for homes is expected to continue to surge especially with mortgage rates expected to remain below 4-percent throughout 2020. These historic lows are fueling demand.

This means you need to be strategic if you’re a buyer because there’s more competition for homes for sale in the Kansas City area. Get an experienced Kansas City Realtor ® who can help you navigate the low inventory and find the home of your dreams.

Kansas City Real Estate Market trends for buyers:

• Mortgage rates down nearly 1% year over year and expected to stay below 4% in 2020.
• You don’t need a 20% down payment on a home. There are more than a dozen programs that can help make homeownership affordable.
• Competition for entry-level homes will remain strong for several years.
• New construction is the answer to the inventory shortage, with many options below $300K.
• Owning is cheaper than renting.

Historically low-interest rates

Interest rates for a mortgage are down more than 1-percent from last year which offers homeowners tremendous savings over the life of the loan. Plus, they’re expected to stay under 4-percent in 2020 which is historically low. To give you some perspective of how low they are, look at this graph from Wichita State University’s Center for Real Estate.

As a buyer, take advantage of these low rates while they last. Eventually, they’re going up. Housing experts predicted that would happen in 2019, and it didn’t. So, we know at some point they will go up.

Learn how to save thousands by mortgage shopping.

Click here to get your FREE copy!

Down payment help in Kansas City

Affordability is the theme for 2020 as home prices are up with such low inventory. If your price range is $300K and below, expect a great deal of competition.

Sign up for property alerts so you don’t miss these homes as they won’t last long! You can set up your own parameters so you only see homes you’re interested in!

Despite affordability concerns, there’s good news in the KC area. This is one of the most affordable places to buy a home in the country.

With all the national accolades for the Kansas City area, it’s a great place to settle down and purchase a home. Second, there are a number of down payment options available to first-time buyers and repeat homeowners.

For example, if you’re a qualified teacher, service member, veteran, law enforcement officer, firefighter, or an emergency technician you qualify for a $17,500 grant from NeighborhoodLIFT which is a new program in the area. This is more than the traditional down payment assistance offered through this program.

Learn more about all these down payment options in Kansas City!

In a TransUnion survey, 58-percent of buyers said they are delaying a home purchase because they don’t have enough money for a down payment. That doesn’t have to be the case in Kansas City with all these programs.

There’s a misconception about down payment options. You don’t need 20-percent, even though that’s what most people think. You can purchase a home with as little as 3-percent down.

So, make sure you take advantage of these programs. They all have different qualifying terms and loan programs. Your lender or real estate agent can help you find the best one for your financial and personal situation.

Affordable homes for sale

Competition for entry-level homes, below $300K, will remain strong for years so there’s no reason to wait. Inventory may increase slightly, but we’re not expecting big changes in the foreseeable future.

Plus, half of all mortgages in 2020 will be from Millennials (those born between 1981-1997) according to Realtor.com. Many of whom will be in the already-competitive $300K price range.

This trend will continue with an estimated 8.3 million first-time homebuyers looking for homes between 2020 and 2022. That’s more than any three-year period in the last decade, according to a report from TransUnion.

We’re making it easy to find affordable homes for sale in the Kansas City area, with our custom-home searches. You can search by city (Blue Springs, Lee’s Summit, Independence, Grain Valley) or price.

Kansas City area homes under $250K, sorted by city and price.
Kansas City area homes under $300K, sorted by city and price.

You can also do your own custom search.

New homes for sale in Kansas City

New construction is the market to watch. It offers a great opportunity for buyers who can’t find what they’re looking for on the resale market.

While costs are up here too, there are still opportunities to find homes that offer you a good value. Our team works with builders who specialize in affordable new homes, with high-quality finishes.

This new construction home for sale is $20K off list price because the previous deal fell through because the buyer lost his financing. When you hire an agent with connections to resale communities and builders in new construction, you’ll find homes for sale that fit your budget!

We also have this new construction home for sale for $219,900.

Wichita State University housing experts expect new construction to slow in Kansas. However, they’re predicting another strong year for Kansas City with a 16.4-percent increase in building permits. That’s three times higher than Manhatten, Kansas which is expected to see the most growth of any city in Kansas. When you work with an experienced real estate agent in Kansas City, you’ll find affordable new homes and deals.

The Sally Moore Real Estate team has options below $300,000 in the following neighborhoods:

Ryan Meadows – Grain Valley, MO 64029 – Mid $200’s
Sonora Valley – Blue Springs, MO 64014 – Mid to upper $200’s+
Rosewood Hills – Grain Valley, MO 64029 – Upper $200’s+
Brittany Ridge – Blue Springs, MO 64015 – Upper $200’s+

These are the homes for sale in these neighborhoods, offered exclusively by our team.

Explore all the options in all our new construction neighborhoods.

If you’re interested in homes outside these neighborhoods, we put together this list with the latest new construction home options in the KC area.

KC rental costs increasing

Rising home prices should not keep you away from the market, as rental prices are going up too! In fact, at some of their fastest rates in years.

As home prices rise, homeowners are accruing wealth, without doing anything. Meanwhile, renters are giving someone else that equity with their monthly fees.

For example, in Lee’s Summit the median home value is $240,600 according to Zillow. The median home for sale is listed at $306,777. Meanwhile, rent in Lee’s Summit is $1425, which is the highest since 2011. You could pay less than the going rent if you bought a home for $306,777 with 20-percent down, and paid average property taxes and homeowners insurance.

Depending on taxes, homeowner’s insurance, and down payment percentages your mortgage may be higher or lower. Even if it was the same as rent, you’d still be in a better financial scenario than renting because with a home you gain equity.

High housing and apartment rents are not isolated to Lee’s Summit. In Grain Valley, the median price of homes listed for sale is $240,000. The median rent is $1250 according to Zillow. Again, you could get a mortgage for that price or less, depending on how much you put down.

Homeowners are accruing wealth, through their home whereas renters are losing money. During a presentation in Kansas City, Lawrence Yun with the National Association of Realtors demonstrated the wealth difference between homeowners and renters.

Buying a home in 2020

With prices up, homebuyers may worry they don’t have enough money. But, actually, Kansas City’s weekly earnings are the highest since 2007. The average person takes home around $1000 a week, according to the National Association of Realtors ® Chief Economist and Senior Vice President of Research, Lawrence Yun. Find out how much money you need to make to afford a home in the area.

That combined with job growth and low unemployment in the KC area will allow for steady real estate growth in 2020, despite the higher home values.

As a buyer, take advantage of down payment programs and low-interest rates to find a home in 2020!

What’s your biggest challenge as a buyer?

The post Homes For Sale in Kansas City: 4 Home Buyer Trends to Watch appeared first on Sally Moore Real Estate Team.

Kansas City homebuyer market update

Since it’s still a seller’s market, sale prices are up. But, don’t let that deter you from looking at homes. There are many affordable homes on the market, both new construction and resale. Plus, there are down payment options available. Learn about all the down payment help for the Kansas City area. It’s available to first-time homeowners and some programs also help repeat buyers.

Combine the assistance programs with low mortgage rates and it’s a great time to lower the cost of buying a home. Plus, it’s actually cheaper to close on a home toward the end of the year.

Homes are still not staying on the market very long, and there’s 12-percent fewer of them compared with last year according to the latest data from the Kansas City Association of Realtors. So, set yourself up for new home alerts so you don’t miss home when it comes on the market.

We have lots of custom searches set up for homebuyers too. Here are just a few:

Affordable Kansas City Area Homes For Sale Under $250K

Affordable Homes Under $300K in The Kansas City Area

Independence Homes For Sale Under $200K

We also have zip code searches set up, so you can search by zip code in Lee’s Summit and learn about the neighborhoods in that area.

Kansas City home builders

There’s still strong demand for new construction with closings up 3-percent year over year. Our team works with several Kansas City area builders. They build custom homes in neighborhoods across the eastern part of Jackson County including Kansas City, Grain Valley, Blue Springs, and Lee’s Summit.

Search floor plans offered by our home builders.

f you’re interested in new construction, we have neighborhoods where you can purchase a lot. We even have some tree-lined properties still available. Or, you can purchase a home mid-construction or one recently completed. You can close on a new construction home in as little as 30-60 days and still put the finishing touches on it.

Here are some of your options right now!

Why you should sell now

For sellers, it’s still a great time to sell. We’ve been saying this for awhile now, but combined with the extra end of the year incentives for buyers it’s a perfect time to list your home for sale. It doesn’t cost anything to talk about your options.

Sellers are getting 96% of list price right now. The Sally Moore Real Estate Team can help you get full asking price by staging your home for free! It sells homes faster and for top dollar! See the transformations our home staging makes in Kansas City homes.

Right now, there’s a 2 month supply of homes in the Kansas City area which is slightly more than this spring. But, the number of homes available for sale is still down year over year.

The average sales price in Jackson County, MO during September was $208,098 which is up about 9-percent from 2018.

In the entire Kansas City area, the average sales price was $246,188.

Wondering what your home will sell for? Our team offers INSTANT and FREE home value reports. Find out what homes are selling for in your neighborhood today!

The post Kansas City Real Estate Market: Why Homebuyers Should Act Now appeared first on Sally Moore Real Estate Team.

Jackson County property tax

In odd-numbered years, Jackson County assesses homes. The goal is to set the market value. However, this year’s assessed market value is catching homeowners by surprise.

It’s estimated 84-percent of Jackson County homeowners saw an increase in their property tax appraisal compared to last year. Jackson County Tax Assessor Gail McCann Beatty said about one-third saw a “significant” increase.

There’s no debating the real estate market is up. Real estate agents are seeing homes sell for more money than year’s past. For example, the average sales price in May 2018 was $228,690 in the Kansas City area. This year, it’s $240,302.  That’s an increase of more than $11-thousand year over year, according to the Kansas City Regional Association of Realtors® (KCRAR).

However, the increase in home values is not as significant as the increase assessed by the County.

The property tax appraisal should be similar to what you could sell your home for if you put it on the market.

When the property tax appraisals are significantly higher than home sales, you’ll pay more taxes than you should.

The Sally Moore Real Estate team has seen some cases where the assessed value is $100-thousand more than the actual market value of the home.

This Rayton homeowner posted that her taxes went up $1800 due to the increased property tax appraisal.

If you don’t have the form you received in the mail, you can check your assessed value here.

How to file an appeal with the Jackson County Tax Assessor

You can appeal the assigned value with a formal or informal appeal. If you don’t like the decision locally, you can then request a review from the state.

These are the important dates to remember:

1. File an informal appeal with the Jackson County Assessment Department by Monday, June 24.
2. File a formal appeal with the Jackson County Board of Equalization by Monday, July 8.
3. If you disagree with the decision by the BOE, you can file an appeal with the State Tax Commission within 30 days or by September 30, 2019, whichever date is later.

First, an informal appeal takes minutes to complete. You fill out this online form with your Parcel Number and PIN. You’ll find them at the top of the reassessment notice.

Once you complete the online application, you need supporting documentation which the Sally Moore Real Estate Team can provide for FREE and instantly. Our home value report shows you Jackson County real estate sales for homes like yours that are nearby. These home sale reports are helpful in appealing your property tax appraisal.

If home sales are less than your assigned value, then you may want to file an appeal. You can make the argument that if you can’t sell your home for the assessed value, then you shouldn’t pay taxes on it at that price.

Here’s the tricky part. While you can file an informal appeal online, you can’t upload the documentation. It must be submitted by email, fax, or mail within 72 hours of your online appeal or on or before June 24, 2019, whichever timeframe happens first.

With something as significant as your property taxes, it’s important you meet all the deadlines or you could pay a big price.

Jackson County MO Real Estate

With the deadline approaching to file an informal appeal, which is easier than a formal request, it’s time for you to do Jackson County Missouri real estate sales search.

We’ll send you an automatic home value, and then will follow-up with a more formal report. These reports include previous sales for neighbors and nearby homes, giving you an idea of what a comparable home sold for recently. Since it’s a computer-generated report and instant, the Sally Moore Real Estate Team always follows-up with a more personalized report.

You can also use our Kansas City Market Reports to pull Kansas City area data. You won’t get data specific to your home and neighborhood, but it shows the trend in home sales.

Another suggestion is to include the average list price for homes currently on the market.

You can find all Jackson County Missouri homes for sale here.

You can also use your search criteria with our advanced search.

Once you have the report, write your parcel number on every page and submit it to Jackson County. Remember you only have 72 hours to do this, after completing your informal online review. The last day for documentation is June 24th.

Where to send documentation for property tax appeal:

1. email to InformalReview@JacksonGov.org
2. Fax to 816.881.1403
3. Mail it or hand deliver it to:
   Jackson County Assessment Department
   Taxpayer Assistance Unit
   415 E. 12th Street, Suite 104
   Kansas City, MO 64106

You’ll get an email confirmation if your value decreases, and a mail response if it increases.

Kansas City home staging

Perhaps the assessment has you thinking it’s time to sell because you didn’t realize your house was worth that much.

We can help with that, as values are up. We are seeing some homes sell in 24 hours due to market conditions and our home staging, which is a FREE service! It’s still a seller’s market, allowing you to get more money for your home.

Look at the trends for the average sales price for a home in the Kansas City area, from the Kansas City Regional Association of Realtors® (KCRAR).

Take advantage of these sales prices and traditionally low-interest rates. If you’re thinking of downsizing, upsizing, or moving, this is the perfect time to sell fast.

We’ll even stage your home for FREE. It’s proven that Kansas City home staging sells homes for more money and faster!

With home staging, less is more. We’ll use a mix of your items and ours to emphasize your home’s highlights. For example, we can use mirrors to make a room look larger. Here are some before and after pictures of our Kansas City area home staging.

These are some of our home staging secrets! Ready for us to transform your home with home staging?

The post How To Do A Quick And Free Jackson County Missouri Real Estate Search appeared first on Sally Moore Real Estate Team.

June Kansas City Market Report

The Kansas City real estate market is strong, with the average sales price up 5-percent in June according to the Kansas City Regional Association of Realtors. Plus, sellers are getting 98-percent of their original list price.

For sellers, there really hasn’t been a better time to sell!

Buyers are still dealing with low resale inventory, but experienced real estate agents can find you the home you want! Also, new construction is a great option to get what you want in a home. There’s more inventory for new construction than resale, plus there are lots of other benefits.

Here’s a quick snapshot of the market, for new construction and resale properties.

Courtesy: Kansas City Regional Association of Realtors

Now, let’s get into some of the trends for buyers and sellers based on the type of property.

Selling your home in the KC area

Homes aren’t staying on the market long. The number of days on the market decreased by 15-percent locally, and it’s likely because supply decreased nearly 9-percent. That means there’s more competition for the available homes, which is great news for sellers. Some are still getting offers above asking price. The average resale home only sits on the market for 34 days, according to the latest report from the Kansas City Regional Association of Realtors®.

Low inventory is one of 5 reasons now the perfect time to sell your home. While some sellers are worried they won’t be able to find another home to live in when you work with an experienced real estate agent, you’ll find the perfect option for you. Our team understands your concerns, but we can find you a home! Plus, odds are waiting will cost you money as a buyer and a seller.

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The Sally Moore Real Estate Team makes selling easy, with FREE home staging in the Kansas City area. This ensures you get top dollar for your property, and that it sells quickly. These before and after pictures show the difference staging makes, so your home sells!

How buyers find a home in a seller’s market

Buyers are watching interest rates closely. While 30-year mortgage rates didn’t go up, the Fed is making moves that could impact rates later in the year. So, if you’re looking to buy, it’s a great time to lock in a rate assuming they’ll go up soon.

There’s a fair amount of competition for homes in the summer, especially in high performing school districts. Families like to move before school is back in session. This includes families moving to the Kansas City area, and those looking for a new district or a bigger or smaller home.

If you’re looking in a specific school district, our home search makes it easy to find the home in the district you want. These are the latest homes for sale in the Lee’s Summit School District, Grain Valley School District, and Blue Springs School District. All three provide a top-notch education with a wide selection of educational and extracurricular choices for students.

Search for Homes For Sale in the Lee’s Summit School District

Find Homes For Sale in the Grain Valley School District

Search for Homes for Sale in the Blue Springs School District

If you’re a buyer and haven’t been able to find the resale home you’re looking for, we’re making it easy to stay up to date when new properties hit the market. First, you can sign up for email alerts or look at our list of affordable homes for first-time homebuyers.

The average sales price in Jackson County was $202,199 in June. That’s up about 4-percent from last year.

While budgeting is important when you’re making a home purchase, you don’t need a 20-percent downpayment. In fact, waiting will likely cost you as interest rates will likely go up. You can buy now with a downpayment assistance program. There are many options available in the Kansas City area, with a variety of qualifications. See all the options for downpayment assistance in Kansas City.

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Grain Valley and Blue Springs new construction

If you can’t find what you’re looking for on the resale market, new construction is the perfect answer. Supply remained flat for new construction homes, but it’s still at healthy levels. Plus, new home inventory may go up, even more, giving buyers more options.

You don’t have to build from the ground up. There’s new construction inventory available for buyers, allowing you to move into a new home within 30 days. You can also choose a home that allows you to put the finishing touches on it, or build a custom home from the start.

Our team has options for you in Rosewood Hills, Sonora Valley, and Stone Canyon. We’re new construction experts. Our experience working with builders and buyers, and our certifications in home staging allow us to help buyers throughout the new construction process. Say goodbye to overwhelm! We’ll help you envision your new home with ease!

Interested in how the market changed this year. Read previous Kansas City market reports.

Looking for a home? Let us help you find it, with personal email alerts.

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Latest new construction options in our Blue Springs and Grain Valley communities

The post Kansas City Area Real Estate Market Trends & Stats appeared first on Sally Moore Real Estate Team.