With a decrease in inventory and an increase in sales price, Kansas City is currently in a hot seller’s market. According to the Kansas City Regional Association of Realtors there are 27% less homes listed for sale in the Kansas City then there were just three months ago. And the median house price reflects the greater demand by increasing 6.7% in the same time period. If you are hoping to buy this spring, you have a lot of competition.
On the opposite side, this is great news if you are considering putting your house on the market. You may have heard some extraordinary stories of people who list their home, have dozens of showings and multiple offers within days. Ordinarily we would think this kind of house would be in a prime location and listed below market value to gain this kind of response. However, this situation is occurring all over the metro and in every different price point. The offers have been flooding in for home owners over asking price, no contingencies, with high earnest money checks and all kinds of additional bonuses to get contracts to stand out above others.
If you want to get in on the real estate action, now is the prime time to sell. There is some up front work to consider as buyers love clean, updated homes with great curb appeal. However, being a sellers market means buyers are willing to put money into some updating and landscaping just to get themselves to the closing table with a home. It still would be unreasonable to think you could sell a house at a premium if it needs a complete overhaul or major repairs.
But what if your house needs updating or big repair and you still are interested in taking advantage of the current market? It may seem overwhelming to replace a roof, repair foundation, install new carpeting or update bathrooms or a kitchen. We may be able to help, we won’t ask you to clean, we won’t expect you to declutter for showings, and we won’t ask you to make any updates or repairs. We make fair market cash offers, pay closing costs and close on your timeline. And as license real estate agents, we may recommend it would be to your benefit to list your property in the traditional way to maximize your profit and can refer a great agent to serve you. Reach out to us for more information at email@example.com or (913)333-9643. We would be happy to answer your questions and help you with real estate solutions.
One of the most difficult things about buying homes to rehab is falling in love the with character and charm of an older home and have a deal not work out. As business women it is imperative to make business decisions, make them without emotions and make choices only in regards to the numbers. Unfortunately for us, we not only chose real estate redevelopment for our business because of the viability of our investments but for the love of houses.
We swoon for great architectural bones, we are giddy with colorful patterns and rich textures, we ooh and aah like new mothers for built-in cabinets, glass door knobs and detailed crown molding. We don’t turn our nose up at puzzling layouts, moldy odors, and layers of outdated wallpaper. We seize the opportunity to explore our own creativity, make it functional and develop a home. We have passion in this process so it’s not exactly ‘non-emotional.’
This week we had to make the difficult decision to let go of a house we had under contract. The house itself was in an ugly state and in desperate need of love and attention. We saw through the years of wear and neglect, the sagging roof, cracked stucco, over-sized fireplace and outdated lighting. We knew the combination of our design plans to update with eco-friendly products and energy-efficient materials would bring new life to this home. We knew a future homeowner would be able to enter into a warm inviting space where they could truly appreciate the original features we could highlight. We were enthusiastic about this project and desperately wanted to fulfill the vision we had for this house with infinite potential.
In the end, we recognized the numbers didn’t make sense. No amount of love for the original wood floors would cover the cost of a brand new HVAC system, the charm of the glass doorknobs was not financial compensation for replacing the front porch and the character of the neighborhood would not pay for replacing the kitchen and bathrooms. In redeveloping properties there are daily lessons and this single one we return to more than all the rest: The Key Is Patience.
There will be more homes with these features, this one was not meant for us, the numbers have to make sense. We love our business and we have to show our business love by following the numbers first.
At EcoLiving Property we strive to utilize ecologically friendly products and materials. It is critical to our families to ensure the safety of the environment we spend so much time and to create sustainable options to high-energy consumption used in traditional homes. It is possible to improve our quality of life with green living.
Since the 1950’s over 80,000 new chemicals have been introduced to consumers in the United States. These chemicals are used in cleaning products, manufacturing goods, agriculture, hygiene products and of course in the materials used in our homes. Of the 80,000 new chemicals, only around 200 have actually been tested for safety prior to use. We know devastating effects on the environment and the human body have occurred as a result of the chemicals including lead and asbestos. We also know by rebuilding homes using ecologically mindful products we can create a safe haven and reduce the risk of harm to you and those you love.