About Clay County, MO

Hello,

The media is reporting a lot of bad news about the real estate industry, but they're neglecting to report for whom it is bad, and for whom it is good.

Certainly we are seeing fewer buyers, lower housing values and longer market times. This hurts two groups of sellers: those who bought at the height of the market and are forced to sell now, and those who are selling their last home and moving to retirement

But there. are two groups for whom this market provides huge benefits; first time buyers and move-up sellers.

• The first time buyer is rewarded with lower entry prices and lower interest rates.
• The move-up seller is rewarded with a net gain by being able to buy at a large discount. The loss you experience on your sale is exceeded by the larger gain on the purchase.

For example, given a 10% reduction in market value, your $400,000 home fall in value to $360,000, but your destination home fell in value from $600,000 to $540,000. At the peak of the market you would've paid an additional $200,000, but now the difference is $180,000. You're $20,000 closer to your next home!

Some buyers, however, are trying to wait until the market bottoms to make their purchase. While an admirable goal, they will find it virtually impossible to achieve. The bottom of the market is not an absolute position. It is a position relative to, and determined by, when the market has gone up. So by the time you know the bottom, you're past it.

It is better in so many ways to purchase based upon your current needs and begin enjoying your new home. The market may bottom beneath your purchase price, but will eventually rise to surpass it. In the meantime you're enjoying your new home

Here are the benefits to buying before the market bottoms rather than after:

• Lower interest rates (they will rise when the market starts rising).
• More inventory (in a rising market your choices are fewer).
• Relaxed pace (a rising market brings buyer competition and multiple offers).
• Time in home (by buying NOW you can ENJOY the home).

If you and your family feel that your life would improve if you made a move, then let's get together and discuss the possibilities. I will analyze your present home's value and the destination options to determine whether you can benefit from making a move in this market.

Sincerely,

Timo Yannopoulos
CRS, GRI, e-PRO, WHS.
Real Estate Consultant

If only money grew on trees...

Did your property tax assessment go up last year? Are you paying higher property taxes?

We have found that some homes are assessed at a higher value than what that home might sell for-some homeowners have taxes much higher than their neighbors. This not only costs you money in over-paid taxes, but may make your house harder to sell! We'd like to help you save money on your taxes by telling you how to contest the assessed value! If you would like complimentary information about the market value of homes in your neighborhood and the average assessed value of homes similar to yours, give us a call! We will guide you through the process. Deadlines are:

Platte County: -April 1st-April 30, 2008

Clay County: -April 1st-April 30, 2008

in Missouri

Tell your friends & neighbors. We can help them too!

Mary Richards 816-420-5060 direct /816-853-9698 cell/text Reece & Nichols Realtors maryrichards@reeceandnichols.com www.kcmoves.com

I've been showing a lot of first time buyers lately that have been watching a lot of television shows that show home remodeling, home decorating, and home buying.

Don't get me wrong, most of those shows are full of useful information, remodeling and decorating ideas and they can even give you tips on things to look for when shopping for a home that could be problematic... so they can be useful.

But please keep in mind that these are nationwide shows, some are even shot in Canada, and not everything they say apply to every area of the country.

Remodeling projects that they say can be completed in a weekend would be a tough job for seasoned hands, let along two women single handedly.

One show suggests that when you find a home you want to make an offer on "low-ball them." In other words, if they are asking 225,000.00 go in and offer them 25,000.00 less right off the bat.

I'm an advocate for negotiating a good deal, but my experience has been that this type of low-balling offends the sellers. I've even had a couple of sellers even refuse to make a counter offer because they were insulted.

Work with your REALTOR®. Ask them to show you comps in the neighborhood of homes that have sold as well as those for sale. Compare them to the home you want to make an offer on and proceed with a sensible offer.

I hear more and more REALTORS® working with sellers stressing the importance of pricing homes properly to sell in this market of over abundance.

Then there are those sellers who are having to bring money to the table to even sell their homes and have very little wiggle room.

I understand everyone wants a deal but just because the television shows are telling you to "low ball and ask for your closing costs to be paid," doesn't mean that it always happens or it's the rule of thumb to follow. In my opinion that only happens every-time on television.

I work with buyers and sellers so I see, feel and understand both sides.

As a buyer if you really want the home and give an outrageously low offer on a home that is priced correctly and the sellers get offended and refuse to counter - then you have lost out on a home that you really wanted and you are disappointed. That isn't a win/win for anyone.

Work with your REALTORS® and as buyers and sellers make mindful decisions.... and remember everything that is seen on television isn't always the case.

I really feel like I've been missing a lot by not being around here... and I miss all of you!

But honestly when I said that Real Estate was picking up in Kansas City North, I wasn't kidding.

I've been showing houses like crazy! Every been in a house that was vacant and it was colder in the house than it was outside, or at least "felt" that way. My little mittens have been getting a work out.

Hopefully we are in for some warmer weather in the near future!

I'll be back shortly, but in the meantime if you need help with your Kansas City Real Estate needs, just give me a ring!

Well I can tell you that we have enjoyed some "sweet"
weather the past few days!

Not only has this given a boost to the general moral in North Kansas City, but the buyers are starting to bud!

Interest rates are at an all time low for about the last "2" years and there's a lot to select from!

If you have been trying to decide whether to take a look at some homes in the North Kansas City Real Estate market, now is the time.

Don't forget to get a complete home inspection on the home you are intending to buy.

Give me a call if I can be of assistance! 816-682-3897