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My Consistent Pursuit

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My Consistent Pursuit

Category Archives: MO

Serving the Newbies

17 Wednesday Oct 2018

Posted by JoannaGWilliams in Leadership, Liberty, MO, real estate, Real Estate Career Advice

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As you know, real estate is a service industry, but who serves the servers?

I’ve been helping new and experienced agents in this business for 18 years as of last weekend. Yes, minor milestone there, yay me. My yearly work anniversary always falls right near Bosses Day.

It’s hilarious when my agents come into the office and wish me a happy bosses day. We both have a giggle because I see myself as more of a partner to them than an actual ‘you must do things this way’ boss. Sure, they recognize the leadership and sacrifice that also comes with that term, but it’s rare for any of us to feel I exert my power over them. This is what I’ve really come to appreciate about what I actually do.

I serve.

What do new agents need most when they launch their solopreneur real estate career? Training? Of course. Money? That, too. Patience? Absolutely. What I’ve really found is all of this takes care of itself with a bit of confidence. As someone that lives and breathes this business, it’s easy to get lost in the minutiae of onboarding a new agent. Get their business cards. Teach them how to market themselves. Show them how to roll through showings, listing appointments, contracts and on, and on, and on. But, when that is done, where do you go? How does one continue to prepare real estate

agents for successful careers? I feel it’s such a delicate balance between education, expectation and heavy inspiration. You see, you have to COMMIT to serving the newbies. Experienced agents will experience the level of success they decide to each year. They already know the ropes and your role becomes more of a friend, confidante and adviser. But until the new agents realize success, they need you. I’m not going to lie. It’s work. It’s witnessing the ugly cry, throw everything, headaches, eye rolls, anger, frustration, desperation, depression—24/7 work. They need your full time dedication to them.

It’s work I’ve committed to year after year after beautiful year.

The real estate market has been super hot for a couple of years now and I’ve heard from countless agents about how they want to run their own brokerage and take a position like mine. It all seems so glamorous, right? Glad you see me that way! What they don’t take into account is the level of commitment a broker makes to their agents. MUST make to their agents. If you want to enjoy a steady career as a managing broker or a broker owner, there has to be an overarching commitment to SERVICE.

If you’re new or new-ish and you’ve found yourself grasping to take hold of this career, please get a hold of me. There’s no need for your dreams to wash away because nobody had the dedication to help you achieve them.

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What’s YOUR relocation strategy?

01 Thursday May 2014

Posted by JoannaGWilliams 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.

Posted by JoannaGWilliams | Filed under Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, Liberty, MO

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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.

Posted by JoannaGWilliams | Filed under Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, Liberty, MO

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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

Posted by JoannaGWilliams | Filed under Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, Liberty, MO

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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.

Posted by JoannaGWilliams | Filed under Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, Liberty, MO, Moving

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Real Estate Market Activity, November

18 Wednesday Dec 2013

Tags

kansas city market activity, kansas city real estate, real estate market

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.

Posted by JoannaGWilliams | Filed under Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, Liberty, MO

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Christmas On The Plaza

13 Friday Dec 2013

Posted by JoannaGWilliams in MO, Random Thoughts

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I have memories of my father’s gloved hand holding mine while walking in the snow on the plaza when I was six or so after dining at McDonald’s. All the store windows were dressed up for Christmas and the toy store was like a fairytale land. This memory is forever in my heart, especially during the holidays.
Few things have a hold on me like the Kansas City Plaza lights at Christmastime.
Last night, I was blessed with the opportunity to stop and take a look at the lights from an upper view that was as romantic as it was breathtaking. This city has always been my home, but at Christmastime it takes on this magical power that transports me back to my childhood and all things wonderful.

plaza lights

I was talking to a lady last night about the plaza and she asked, “what’s the big deal? Why does everyone refer to it as ‘on the Plaza?” You don’t ever hear people say “on Zona Rosa” like it’s a big deal.

You see The Country Club Plaza has long been revered as a place of affluence. Long ago, if you bought something on the plaza, it immediately took on more value, and so did you. While we took in the sights, I was doubly blessed to be wearing something that not only has Plaza history, but family history as well—my hubby’s late grandmother’s coat. Just look at this label!

coat
The plaza lighting ceremony dates all the way back to 1930. What used to be a single strand of lights over a doorway has become 15 blocks of beautiful lights, and a MUST SEE for anyone in KC during the winter. I’m sure there’s millions of people with similar stories about the plaza (and I’m sure many of you think of it as your special place), but it will forever be where my heart calls home.

A huge thanks to my hubby for going out of his way again to give me another magical Christmas memory.

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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.

Posted by JoannaGWilliams | Filed under Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, Liberty, MO

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2014 Real Estate Forecast

31 Thursday Oct 2013

Posted by JoannaGWilliams in Home Buyer Advice, Home Seller Advice, Kansas City Market Stats, MO, Moving

≈ 1 Comment

Tags

2014 real estate forecast; real estate market, market stats

The Kansas City Regional Association of Realtors brought Lawrence Yun, NAR’s Chief Economist, in to shed some light on what the real estate industry can expect in 2014.

Right now, inventory is bouncing at 13 year lows. This has contributed to our rising prices and a new crop of For Sale by Owners. Nationally prices have continued to rise in the double digits throughout 2013 and with the current inventory shortage, this should continue through 2014. We all have witnessed some areas of Kansas City tracking at a good rate, so please visit my previous blog posts or contact me to find out the exact numbers for your particular area.

Dr. Yun stressed the importance of our need for more new construction, as new construction inventory is at a 50 year low. He said new home starts need to reach 1.5 million or we will have a persistent inventory shortage nationwide. Kansas City’s housing starts are at about half of their average. Another interesting stat showed us the gap between new and existing home prices is larger than it’s ever been. The only way this can be fixed is to have a dramatic increase in resale home prices. Right now, we are battling appraisals on about every other transaction. Consumers can rest assured real estate agents in Kansas City are fighting the battle against low appraisals with fervor. We are doing our best to keep those prices moving!

new home inventory

Photo courtesy of KCRARphotos

One of the most surprising stats was the fact that 30% of the transactions are cash. Lawrence stated further studies have indicated many parents have purchased homes for their children with cash and they are actually becoming the ‘lender’, having the payments with interest paid to them instead of a bank. Others are paying cash for the house to make their offers more appealing than the others that would be bidding on the same property. After the home closes, they are taking out Home Equity loans to finance the property and have the tax benefits from doing so.

The rental population continues to grow with home ownership flat lining at 64%. Home ownership is primed to grow, according to the historical data, but enough jobs have to be created in order to get renters into homes. The rental market is dealing with a large amount of college graduates with high debt and inadequate jobs. Actual household formation is increasing, it’s been low since 2007. Unfortunately, it’s not yet turning into an increase of new home buyers. However, the current wealth of homeowners is at a staggering amount, while the average renter has about $4000 total wealth. (A great reason to purchase a home!)

homeowner households

Photo courtesy of KCRARphotos

Some good news? Missouri and Kansas’ shadow inventory of distressed property is not only lower than the U.S. average, but has also shown only gradual changes (with the exception of the 2010 spike) over the last 13 years. There are bubbles in other areas that will hit soon, New York is one of the highest, almost double that of the entire U.S.

Photo courtesy of KCRARphotos

Photo courtesy of KCRARphotos

Interest rates will remain low, taking into account they were at 8% or higher 13 years ago. Dr. Yun stated they should increase to 5.3% by the end of 2014.

Photo courtesy of KCRARphotos

Photo courtesy of KCRARphotos

He predicted steady sales throughout 2014 with no increase in the number of sales, but the increase in home prices should help offset the lack of growth.

Another note, there has not been a meaningful increase in REALTOR membership which means less competition overall.

I felt this was one of the better forecasts as it seems more realistic than it has in year’s past. Trust me, there’s been several years we’ve left this forecast wanting to jump off a bridge and last year was full of unknowns. Since we’re finally seeing some steadying in the market, the economists are leaving less to chance and making strong predictions. To me, this in itself is positive.

Special thanks to Dr. Lawrence Yun for making the trip to Kansas City. Click here for all the slides from the presentation.

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JoannaGWilliams

JoannaGWilliams

Joanna jumped into the real estate business in 2000 and never looked back. A glance through her resume would have anyone confused because she’s actually never left the company with which she started. Change in the market and changes in ownership and locations have filled her 13 years in the real estate world. Change is a scary word for some, but Joanna has embraced it with courage and made the decision to not only survive, but to thrive. To break it down Prudential Snook was sold to Prudential Carter-Duffey in 2006, which was sold to Prudential Kansas City in 2009, which then rebranded themselves with a new franchise (Better Homes and Gardens Real Estate) in late 2012. Her personal motto is ‘Consistent Pursuit of Improvement’, which is clear in her dedication to her company, people and local real estate association.

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