Category Archives: Home Seller Advice

The Magic in Listing Preparation

27 Thursday Aug 2015

Posted by in Home Maintenance, Home Seller Advice, Moving, real estate

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If you’re thinking about putting your home on the market, you’re likely to interview more than one agent. Some will show up, look at your house, discuss pricing and put the sign in the yard. Others will take the time to talk to you about staging, photography scheduling, pricing and how to make sure your house wins against the competition. If it’s been a while since you’ve sold a home, you might think the 2 agents are comparable to one another. However, you really need to look deeper.

You see, there’s something that second agent knows (and the first one might, too). Every single residential resale home that is put on the market to be sold needs to win a beauty contest in order to secure the highest price in the least amount of time. Continue reading →

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You’re Going to Need Help

01 Wednesday Jul 2015

Posted by in Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, real estate

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I’ve been in the real estate market almost 15 years now and I’ve never witnessed a market like Kansas City is experiencing this year. We’ve been talking for months about the inventory shortage and low interest rates. What this has created is a plethora of difficulties in the real estate world. I feel like so many people are still trying to ‘go it alone’ when it comes to buying and selling and I worry, especially right now, they may be in over their heads. When people that aren’t being represented run into issues, the first person they tend to call is a REALTOR to ask their advice. This has been happening more and more, and most often, the agent will give a small piece of advice and then bow out unless they’re going to be hired to represent the deal. These situations have been common lately—are you prepared to handle them on your own?

1. Buyer bidding wars. Are you ready with your offer on paper? What will the market bear in this neighborhood, how high can you bid? What are the risks involved with going over asking price? What items can help strengthen your offer?

2. Seller remorse. A seller puts their home on the market and sells it on the first day. Some sellers are ecstatic, others are unprepared to move quickly and may think they under-priced their home. How do you deal with this? How can you help the seller feel more comfortable?

3. Low appraisal. What can happen when the appraisal comes in under contract price after a bidding war? What are your options as a buyer? What are the sellers options?

4. Backup offers and inspections. When there’s a bidding war and the ‘losing’ party still wants the house, they have the option of putting in a backup offer that will take over if the winning offer falls through. This can usually happen during inspections. What can the winning party do to keep the offer together instead of having the seller just balk and go to the next buyer?

5. Buyer remorse. Buyers today can feel like they were rushed into making an offer because of the low inventory, then feel like they overpaid. What can sellers do to keep the buyer on the line when they’re feeling some of that remorse creep in?

As you can see….You’re (most likely) Going to Need Help when buying or selling right now. Hiring a REALTOR skilled in negotiations with a calm demeanor can make all the difference. It’s an interesting market out there and I really would advise everyone to seriously consider hiring someone to help guide you through your transaction.

What’s YOUR relocation strategy?

01 Thursday May 2014

Posted by in Home Buyer Advice, Home Seller Advice, Liberty, MO, Moving

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I’m sitting here tonight while guitars are being played in my basement. I love music. I love creativity. And, I think, I should write something. My business world is more than crazy right now, my personal life borders on insanity. The two mix more often than you can even imagine. Don’t get me wrong. I totally thrive this time of year. I add so many things into my day I can’t keep them straight. But, my writing in the spring will be sporadic. If you’re counting on a weekly posting, you’ll be  disappointed. You can, however, count on me to be here. Ask questions, respond, make fun of me….I’m here. I’m everywhere. It’s spring. I’m omnipresent. Yeah, look that one up. 🙂

Alright, so I’ve said the subject line several times in the past few weeks. Why? Well, honestly, properties are selling faster than we can warn the sellers about. We always want to err on the side of caution and state that we think we’ve priced the property we’re selling reasonably within the market. Two days later, we’re changing the status in the MLS to ‘pending’. Sellers are looking at us with these huge, scared eyes saying, “where am I going to live?”. Really, I don’t know, you asked me to sell your house. I’ve done it. Now what?

It used to be we could casually ask the question about where the sellers wanted to live next over the course of a few conversations. Lately, however, we have to ask it in the beginning of our conversations. Is it a scary topic? Sure. But it’s honest. One thing the agents in my office, the company, pride themselves on is being honest. And honestly, seller, I’m concerned about your relocation strategy. What? You haven’t thought about it? Most people will laugh and think it’s funny that we have to talk about a ‘relocation strategy’ during our first discussion about listing a home for sale. Do you know WHY we need to know that? Some buyers out there have been looking forever and they’ve run out of time to find that perfect property. Those buyers need to move in within 22 days. They’re ready, are you? You see, I’m not going to judge you by your answer, but it will help set the stage for how your property can be sold. Do I need to tell that co-op agent you need 45 days to move? Or can we go ahead and negotiate the sale of your home tonight?

The question really is: Are you comfortable with being uncomfortable with your living situation for a few weeks in order camping with bearto sell your home for the best price? or….  Are you more comfortable being comfortable with your living situation and waiting for that other buyer that doesn’t need to move quite so quickly?

No matter what. It’s up to you. YOU are the client and you’re in charge. Sell or wait? You tell me and we’ll work towards your goal. All I need to know is what your relocation strategy is and how we’re going to work around/with it.

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Clay County, MO February Market Activity

19 Wednesday Mar 2014

Clay County, MO February Market Activity

We’re now seeing a steady increase in inventory. Hopefully, we will get this weather under control and be able to show and sell homes any day of the week. As of today’s post, activity has definitely increased, but buyers still need to jump quickly if they find a home they love. We can barely get them on the market before they’re sold. Mind you, I’m not complaining. 🙂
Here’s how last month’s stats stack up:

Clay/Ray Counties
Clay/Ray County sales were down for the month by 28.0% from 2013. Units were at 226 versus 314 last year. Year to date, unit sales are down 17.1%, with 509 units this year versus 614 last year. The average sales price for the month was up 12.8% from last year, with an average price of $158,296. Year to date, the average price is up 14.5%. The average price is $158,296, versus $139,919 last year. New listings were down 35 units to 403 or 8.0% from last year’s 438 units. Inventory is down 1.5% from last year and is running at 1,802 units. Inventory is up 103 units from last month.

Platte County
Platte County sales were down for the month by 8.7% from 2013. Units were at 115 versus 126 last year. Year to date, unit sales are down 6.0%, with 252 units this year versus 268 last year. The average sales price for the month was down 7.1% from last year, with an average price of $175,740. Year to date, the average price is up 11.4% from last year. The average price is $200,718 versus $180,138 last year. New listings in Platte County were down 13 units to 159, down 7.6% from last year’s 172 units. Inventory decreased 4.2% from last year and is running at 739 units. Inventory is down 1 unit from last month.

Heartland
Sales for the entire Heartland area were at 2,140, down for the month by 9.2%, or 217 units. The average price was up 2.8%, and averaging $167,496. Year to date, sales were down 8.4% or 395 units for a total of 4,292 for 2014. The average price for the year is running at $171,246, up 7.7% from 2013’s average of $159,014.

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Clay County Market Activity Update

24 Monday Feb 2014

Clay County Market Activity Update

Clay/Ray Counties
Clay/Ray County sales were down for the month by 19.0% from last year. Units were at 243 versus 300 last year. The average sales price was up 16.4% from last year, with an average price of $162,358. New listings were down 36 units to 434 or 7.7% from last year’s 470 units. Inventory is down 4.6% from last year and is running at 1,699 units.

Platte County
Platte County sales were down for the month by 14.1% from 2013. Units were at 122 versus 142 last year. The average sales price for the month was up 34.5% from last year, with an average price of $228,441. New listings in Platte County were down 17 units to 169, down 9.1% from last year’s 186 units. Inventory decreased 4.3% from last year and is running at 740 units.

Heartland
Sales for the entire Heartland area were at 2,204, down by 5.4%, or 127 units.
The average price was up 13.0%, and averaging $175,124.

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Kansas City December Market Activity and Final 2013 Stats

20 Monday Jan 2014

Kansas City December Market Activity and Final 2013 Stats

I hate to sound like a broken record, but at least it’s a good song!
Sales were actually down over the holidays, which is always expected. They didn’t drop much, though, which is a sign of how well the housing market is actually doing. Home prices are rising and inventory is still low. My main piece of advice today is to get your house listed before everyone else does in the spring. You’ll have the advantage right now of little to no competition, if you’re looking to sell before summer. As always, let me know if I can answer any questions!

Clay/Ray Counties
Clay/Ray County sales were down for the month by 0.5% from 2012. Units were at 198 versus 199 last year. Year to date, unit sales are up 6.6%, with 4,139 units this year versus 3,884 last year. The average sales price for the month was up 4.2% from last year, with an average price of $156,742. Year to date, the average price is up 8.8%. The average price is $159,178, versus $146,322 last year. New listings were down 14 units to 279 or 4.8% from last year’s 293 units. Inventory is down 2.3% from last year and is running at 1,675 units. Inventory is down 127 units from last month.

Platte County
Platte County sales were down for the month by 42.3% from 2012. Units were at 60 versus 104 last year. Year to date, unit sales are up 1.9%, with 1,750 units this year versus 1,718 last year. The average sales price for the month was up 13.6% from last year, with an average price of $227,682. Year to date, the average price is up 6.9% from last year. The average price is $205,030 versus $191,889 last year. New listings in Platte County were down 17 units to 112 or 13.2% from the 129 units last year. Inventory decreased 3.3% from last year and is running at 738 units. Inventory is down 60 units from last month.

Heartland
Sales for the entire Heartland area were at 1,364, down for the month by 16.3%, or 266 units. The average price was up 7.4%, and averaging $190,179. Year to date, sales were up 6.4% or 1,864 units for a total of 31,204 for 2013. The average price for the year is running at $183,435, up 9.1% from 2012’s average of $168,208.

*Data obtained from Heartland MLS

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Freezing Temps, Thawing Market

06 Monday Jan 2014

Freezing Temps, Thawing Market

I adore my crazy real estate friends. Right now, in Kansas City, it’s 3 degrees. Know what all my real estate friends are doing? Working. They’re showing properties, going through inspections and listing houses. IN THE BEGINNING OF JANUARY? You bet. Just look at this chart on the number of showings in the area. The heavy purple line is Clay County, and it’s moving up. Quickly. Looks like the holiday break is over and the barely frozen real estate market has thawed.
Now if only my car would warm up.

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Real Estate Market Activity, November

18 Wednesday Dec 2013

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Real Estate Market Activity, November

Last month, we had some negative news to go along with some positive. To start off, you’ll see that sales went down throughout the entire region, though Clay County fared better than others. So, we are seeing a bit of a holiday slowdown. The positive news is that sales prices continue to climb while inventory has remained low. This has kept Clay County’s absorption rate at 5.38 months—giving the advantage to sellers. So, if you’re looking to list and sell quickly, I would take some time, enjoy the holidays, and start talking to a REALTOR in early January, before we see an influx of homes coming on the market for spring.

Clay/Ray Counties
Clay/Ray County sales were down for the month by 17.1% from 2012. Units were at 214 versus 258 last year. Year to date, unit sales are up 5.9%, with 3,901 units this year versus 3,685 last year.
The average sales price for the month was up 13.9% from last year, with an average price of $162,850. Year to date, the average price is up 9.2%. The average price is $159,452, versus $146,009 last year.
New listings were down 38 units to 336 or 10.2% from last year’s 374 units. Inventory is down 3.3% from last year and is running at 1,802 units. Inventory is down 62 units from last month.

Platte County
Platte County sales were down for the month by 40.3% from 2012. Units were at 74 versus 124 last year. Year to date, unit sales are up 3.2%, with 1,666 units this year versus 1,614 last year.
The average sales price for the month was up 13.5% from last year, with an average price of $213,078. Year to date, the average price is up 6.6% from last year. The average price is $203,655 versus $191,094 last year.
New listings in Platte County were up 7 units to 160 or 4.6% from the 153 units last year. Inventory decreased 2.6% from last year and is running at 798 units. Inventory is down 38 units from last month.

Heartland
Sales for the entire Heartland area were at 1,828, down for the month by 8.9%, or 179 units. The average price was up 9.1%, and averaging $187,830. Year to date, sales were up 7.4% or 2,051 units for a total of 29,761 for 2013. The average price for the year is running at $183,013, up 9.3% from 2012’s average of $167,475.

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Home Selling and The Holidays

09 Monday Dec 2013

Posted by in Home Buyer Advice, Home Seller Advice, Moving, Packing

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The music is starting to change in the stores and I’ve noticed lots of green, red and glitz showing up everywhere I look. The holidays are here.

I recently had a conversation with an agent about a frustrated seller that was going crazy keeping the house in showing condition and upset about not being able to decorate for the holidays. The regular thought process is to take the house off the market during the holidays and put it back on in early spring. My advice this year? Let them decorate and leave it on the market!

You see, this fall/winter season is proving to be much different than previous years. In most areas, the inventory is incredibly low and the interest rates are still low. Normally around the holidays, we’ll see a slow down in the ‘deal’ buyers and only see the buyers that absolutely HAVE to buy a home. This year, however, more buyers seem to be out looking at homes and ready to make a purchase. There’s a fear of higher interest rates and higher home prices after the beginning of 2014.

So, if you’re a winter seller and your home is still on the market, I’d like to offer a couple of quick tips to make you more comfortable selling during the holidays. First, for those ‘over the top’ decorators, make sure you take a step back this year and consider only putting up half of your decorations. Those decorations should be tasteful and fit in the space. You don’t want the buyer to think your home is too small for them to enjoy during the holidays. Buyers don’t mind a little decor, some even prefer it. Also, it’s better to stow away the wrapped presents. No matter how safe the area, crime is high during the holidays. There is no need to show off to strangers walking through your house. Having company? Call your agent to request the home not be shown while they’re around. And last but not least, lights are fine, but enough lights to land a plane—-too much. If you can’t resist the temptation to be creative, put some lights around your real estate sign.

Relax, enjoy your friends and family.

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Kansas City Real Estate Market Activity, October

18 Monday Nov 2013

Kansas City Real Estate Market Activity, October

It looks as if the Kansas City area is settling in for the winter season. Inventory is low and will likely remain low until spring since many sellers have pulled their homes off the market for the holidays. (This is great news for you if you’re trying to sell.) Average sales prices are still on the rise, but not nearly at the pace they were in the last few months, June being the highest. There are buyers in the market and they’re looking to get settled before the end of the year. So, if you’re wanting to list, now might just be the right time for you. Little competition and a steady amount of buyers are two good ingredients for a successful sale. Please note: it’s important to have your REALTOR study the showings and activity in your particular price range and area before making a decision.

Clay/Ray Counties
Clay/Ray County sales were down for the month by 14.5% from 2012. Units were at 260 versus 304 last year. Year to date, unit sales are up 6.4%, with 3,646 units this year versus 3,426 last year.
The average sales price for the month was up 5.1% from last year, with an average price of $158,720. Year to date, the average price is up 8.9%. The average price is $159,206, versus $146,266 last year.
New listings were up 21 units to 523 or 4.2% from last year’s 502 units. Inventory is down 1.8% from last year and is running at 1,939 units. Inventory is down 36 units from last month.

Platte County
Platte County sales were down for the month by 21.8% from 2012. Units were at 111 versus 142 last year. Year to date, unit sales are up 4.9%, with 1,566 units this year versus 1,493 last year.
The average sales price for the month was down 0.4% from last year, with an average price of $187,461. Year to date, the average price is up 5.9% from last year. The average price is $202,795 versus $191,486 last year.
New listings in Platte County were down 15 units to 212 or 6.6% from the 227 units last year. Inventory decreased 7.0% from last year and is running at 836 units. Inventory is down 63 units from last month.

Heartland
Adjusted Sales* for the entire Heartland area were at 2,221, down for the month by 8.3%, or 202 units. The average price was up 9.3%, and averaging $184,529. Year to date, sales were up 8.3% or 2,140 units for a total of 27,847 for 2013. The average price for the year is running at $182,616, up 9.3% from 2012’s average of $167,041.

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