Tag Archives: brookside homes for sale

Brookside Home Sales Report Feb 2013

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The busy spring home buying season is here, and  are very strong so far in 2013.  Our Brookside neighborhood is experiencing fast sales and higher average sales prices.  Here are the home sales stats for February 2013 and a year-to-date comparison with 2012 for the main Brookside zip code of 64113:

In February 2013, 14  homes sold.  The average list price was $368,032 and the average sales price was $356,910.  Average days on market: 135.

In February 2012, 11 homes sold.  The average list price was $315,286 and the average sales price was $296,289.  Average days on market:  144.

Average sales price from one year ago is 20% higher!  Days on market is slightly less.  This is great news for sellers–home values are increasing, which means your home has more equity.

Let’s compare year-to-date figures:

In the first two months of 2013, thirty homes sold with an average sales price of $305,493 and 102 days on market.

In the first two months of 2012, twenty homes sold with an average sales price of $318,734 and 134 days on market.

Note that the average price for 2013 is a bit less.  The reason?  More expensive homes sold in 2012 and fewer homes sold, pushing the average price up.  In 2013 we’ve had more units sold and fewer days on market–that is the right direction for a healthy market.  

Currently there are  80 single family homes for sale in zip 64113, with an average price of   $682,126  and 157 days on market.   The average list price is very high; usually it is in the lower to mid $300,000 range. However, 30 of the 80 homes currently for sale are priced over $500,000 and ten of the 30 are priced over $1,000,000.  There are many ‘upper bracket’ homes for sale which pushes up the average sales price.

If you would like specific sales numbers for your neighborhood, email me for a report tailored to  your area!

(All figures taken from Heartland MLS and deemed reliable but not guaranteed.)

Armour Hills Feb 2013 Home Sales Stats

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Armour Hills Homes in Brookside

Armour Hills Homes in Brookside

Home prices are on the rise in Armour Hills!  Although it’s officially April, I am just now publishing the February 2013 home sales stats for our neighborhood.  It’s good news worth waiting for as average home sales prices are way up:

In February 2013, four homes sold.  Average list price was $261,238 and average sales price was $257,375.  Average days on market was 79.

In February 2012, one home sold at a price of $195,000 and seven days on the market.

Now let’s compare to year-to-date figures:

For 2013, six homes have sold at an average price of $245,250 and 62 days on market.

In  2012, three homes sold the first two months of the year at an average price of $208,333 and 43 days on market.

These figures represent a big jump in average sales price and number of homes sold–and we are not even into the heavy buying months of April and May.  Buyers are out early this year, snapping up the well maintained, updated homes in our area and paying higher prices.  I expect this trend to continue the next several months.

Currently there are ten  homes for sale in Armour Hills, with an average list price of $245,760 and just 36 days on market. I know of at least three Armour Hills homes that were recently listed and sold within two days!  There is a lack of inventory right now, partially due, I think, to the two huge snow storms and spring break vacations.    

The housing slump is over!

(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)

New FHA Loan Requirements Begin April 1, 2013

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As a real estate agent,  today’s blog relates to Brookside/Waldo home buyers who plan to use FHA financing.  Many buyers  often use FHA loans to finance their purchases.  Two reasons why: FHA requires the least amount for a down payment:  3.5% of the purchase price of the home, vs 5% for a conventional loan; and it’s easier to get pre-approved for a loan if your credit score  is less than what a conventional loan requires.  However, starting April 1, 2013, the MIP fee (“‘mortgage insurance premium”) associated with an FHA loan is going up so buyers will be paying more to finance a home purchase using this method.  Here are the details:

Currently the MIP fee is 1.25% of the loan amount, and this fee is dropped once 22% equity is gained and the homeowners have paid 5 years on the loan.   After April 1, the fee will be 1.35% and  this fee is permanent. For example, a $200,000 loan amount today would have a $208 per month MIP fee.  These changes mean that after April 1, the fee will be $225 per month, for the life of the loan.

This is a big change for buyers.  It means increased monthly payments , regardless of how much equity is earned during ownership.  A homeowner can refinance at some point to drop the  MIP fee, but this is still a major change for buyers who want to use FHA financing.

Why the increase? FHA is paying millions  more regarding loans that have defaulted due to the housing crash.  By law, the agency must maintain a certain level of funds–and the balance sheet is way  short of what’s needed.  So –guess who gets to make up the shortfall  because the  agency didn’t follow their own guidelines?  Homebuyers, mostly first time buyers, just trying to get their piece of the American Dream by purchasing a home.  (Yes, I had to make a personal comment here!)

If you are planning a spring home purchase using an FHA loan, contact your lender now for specifics on what this change means for your particular situation. You may want to get under contract before April 1, 2013 if possible to avoid these new fees.   

New Business in Waldo–“CoWork Waldo”

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Do you work from home? Occasionally miss a little interaction with others during the day? Or do you need a temporary office desk from time to time? A new business, CoWork Waldo , could be the answer.

CoWork Waldo work space

CoWork Waldo work space

CoWork Waldo is a fixed workspace at 7449 Broadway (second floor), where you can drop in anytime you need fully equipped office space on a temporary basis. Just bring your laptop and plug in–it’s that easy. Everything you want is here: wifi or hard wired internet service, access to a printer/copier/scanner; desk space, and complimentary coffee! The space is comfortable and welcoming, modern and spacious. Various membership options are available–you can reserve a dedicated desk by the month to call your own, or just drop in and use the space for a day ($20 fee). No contracts. Currently, the hours are 8:30am-5pm, Monday through Friday but owner Melissa Saubers is working on an after hours access code for users.

Melissa did quite a bit of research before opening CoWaldo. She hatched the idea after her associates kept coming to her personal home for meetings. Trying to work from a coffee shop is fine for a while–but the tables are small, the space can get noisy and it’s not conducive to small business meetings. Knowing there was a growing demand for this service, she opened CoWaldo on February 1 this year. She purchased furniture from a company specializing in cowork environments and toured other temporary office set ups for inspiration. Melissa believes the open office concept fosters collaboration between those who use the space on a regular basis. She already has several regular customers who visit on a daily basis. There is, however, cowork etiquette to be aware of: put your phone on vibrate; step outside the room for phone conversations; and if you have one earbud in and one out–that’s a signal it’s OK to interrupt.

Large conference room

Large conference room

Besides the desk space, CoWork Waldo offers two conference rooms, one small room and another larger room with a hi def TV connected to a computer and whiteboard. Rental for these two spaces is by the hour. There’s also a small ‘collaboration corner’ in one area of the room with big comfy swivel chairs and a wall mounted whiteboard.

Ready to try out CoWork Waldo? Drop in anytime for a tour. And remember to support locally owned Brookside and Waldo businesses!

Why There Is A Shortage of Homes For Sale

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Many readers of this blog know that I am a real estate agent, and often post home sales statistics here for the Brookside area.  TodayI am writing a post about why there are so few homes for sale on the market in our area.  I was showing some buyers homes for sale this weekend, and they seemed puzzled, saying  ‘we are ready to buy, why aren’t there more homes for us to see?”  It’s true!  Inventory is very low…it’s a big topic of conversation among agents.   Here are  four reasons why:

1)  Sellers don’t have enough equity in their homes.   If a home was  purchased during the  peak buying frenzied  years of 2005 – early 2008 with little or no down payment, chances are the owner could owe  more than the home is worth since the market crashed in late 2008.  Unless  sellers have made substantial improvements, the housing market crash has created  many homes worth less than what is owed.   It will take a few more years of payments  to  make up the loss.   Homeowners do not want to sell at a loss, so they don’t sell.

2)  Many sellers have decided to “stay put”.   The recession affected everyone in the U.S., even those that didn’t lose a job. People are much more careful about spending and borrowing.  Many homeowners are thinking twice about ‘moving up’  to a larger home–they feel they can ‘make do’ where they are, perhaps updating the interior or building an addition on their current house.  A larger home means more expenses regarding utilities, upkeep, and maintenance. Not moving can mean more money for travel, college costs, retirement, etc. A lack of move up buyers means less inventory.

3)  Now that home prices are rising, some sellers may wait for ‘top dollar’ pricing. When potential sellers hear stories of homes going under contract  in one or two days, sometimes with multiple offers, they know this causes an uptick in home prices.  They may be inclined to wait until the market shows several months of rising prices before they decide to jump in and sell.  

4)  The good ones go fast. I’ve seen inventory move quicker this spring than in the past three years.  Well maintained, updated homes in Brookside, Waldo (and Prairie Village) that  are priced well sell within days.  If a buyer thinks they can get away with a  lowball offer  on a newly listed, beautifully updated home in a great location–they will lose out.  In this  busy spring market, buyers have to be ready to write an GOOD offer when the house they want hits the market, or someone else will snatch it up.

It’s encouraging to see home prices  on the rise and buyers are confident about purchasing.  As we get past spring break travel and the Easter holiday, more homes  for sale will hit the market.  This is going to be a great homebuying season, with buyers and sellers feeling much more confident about home values and purchases.  Be ready!

2013 Brookside St Patrick’s Warm Up Parade

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March 16, 2013: Brookside St Pat's Warm Up Parade

March 16, 2013: Brookside St Pat’s Warm Up Parade

It’s almost here…the 33rd Annual Brookside St Patrick’s Day Warm-Up Parade! The date is Saturday March 16, starting at 2:00pm. Here’s the route:
Starting at 65th and Wornall, the parade marches north on Wornall, turns east on 63rd St, turns south on Main, turns west on Meyer to end along Brookside Road.
This is a fun, family event with local shops, churches, organizations and schools participating. Viewers sit on the street curbs or brings chairs to the sidewalks–it’s easy to get close to the action and watch all the colorful floats and crazy cars going by. It usually lasts a good two hours from start to finish.

And if you’ve ever wondered how the parade got started…it was way back in the 1970s when patrons of Hogerty’s Tavern went out into the streets for an impromptu parade around the shopping district. In 1981, the parade became official, capitalizing on the popular downtown St Pat’s parade. The ‘warm up’ designation made Brookside the official kick off party to the City’s celebration. In the beginning, it was a pretty small affair, with mostly kids and school groups participating. Gradually it grew, attracted media coverage and a Grand Marshall was named to lead the festivities. Thousands turn out to see this event, especially if the weather cooperates, and it’s the second largest event for Brookside, behind the annual Art Fair.

Even if you don’t live in Brookside, this is a great day to visit the area. Bring the kids, a couple of chairs and enjoy the afternoon with us on March 16!

Brookside Home Sales Report Jan 2013

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Everyone is snowed in today in Brookside!  Luckily, my house still has power, many of my neighbors do not.  Back to work now after shoveling the driveway and sidewalk!  Let’s review the January 2013 single family home sales in the main Brookside zip code of 64113:

In January 2013, 16  homes sold.  The average list price was $278,488 and the average sales price was $260,503.  Average days on market: 73.

In January 2012, 8 homes sold.  The average list price was $357,933 and the average sales price was $346,167.  Average days on market:  123.

Don’t be alarmed that the 2013 list/sales price was so  much lower.  Although there were twice as many sales in January 2013 than 2012, in 2012 five of the eight homes sold over $300K. In 2013, five homes sold over $300K but the rest of the homes sold at a much lower price, therefore bringing down the average sales price.  The market continues to improve over last year as homes are selling much faster–73 days on the market vs 123 in 2012.

Figuring the percentages, home sales were up in Brookside 50% in January 2013 from 2012, and homes were selling about 50% faster than the previous year!  Good news all around.

Currently there are 65 single family homes for sale in zip 64113, with an average price of $734,581 and 201 days on market.  The average list price is much higher than usual because about half (30) of the 65 homes for sale are priced over $500K, and 11 of the 30 are priced over $1 million.  The more expensive homes take longer to sell; thus the higher days on market. Overall, the Brookside housing market has  recovered from the housing crash and I think sales will be very strong during the busy spring buying season, even beating  last year’s strong numbers.

 

Thoughts During a Winter’s Day in Brookside

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Monty shoveling snow in front of our Brookside home.

Monty shoveling snow in front of our Brookside home.

We’re all snowed in. There is a state of emergency in Kansas City. In the past few hours, I estimate we’ve had at least 6″ of snow fall, and it hasn’t stopped yet. My husband is out with the snowblower–and it’s so cold and windy!

I love snow days. This is the first big one of this winter season. I am working from home, at my desk with a window that overlooks the street. In the past two hours, I’ve seen one pick up truck drive by. It’s warm and wonderful.

This has been a rough week for Kansas City. On Monday night, JJ’s Restaurant on the Plaza blew up due to a gas line break, injuring several employees and killing one server. JJ’s was a locally owned restaurant (I sold a house last year to the co-owner’s daughter) that served excellent food in an elegant but simple atmosphere with friendly service and an extensive wine list. I enjoyed many fine meals there. And today, our city is shut down due to the storm. The airport is closed, bus service has been suspended and the KC Mayor is asking everyone to stay home.

And in the face of these two events that have personally touched so many, we KC folks have put others ahead of ourselves and reached out to help those directly affected by the JJ’s fire and snowstorm. There are numerous stories of other locally owned restaurants and wait staff reaching out to JJ’s employees, offering food and work shifts to get them by. Neighbors are taking in those stranded by stuck vehicles and check on older residents, bringing by necessities and shoveling snow. Social media and newscasts are spreading the word about the kindness of strangers to one another. Our Mayor has asked followers to tweet these stories using the hashtag #LOVEKC.

Some people will complain endlessly about the inconveniences that a snowstorm brings; some are pointing fingers at who exactly is responsible for the explosion at JJ’s. But most of us are out there helping one another, one person at a time, comforting those in need through random acts of kindness. We do what we can, in small ways, to turn a negative into a positive. That’s the attitude to have in order to get through events like this.

Armour Hills Home Sales Stats January 2013

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Armour Hills, a Brookside area subdivsion

Armour Hills, a Brookside area subdivsion

You’ve heard it in the media…now read about it in your own neighborhood. Home prices are up! Let’s check the January home sales stats for Armour Hills:

In January 2013, two homes sold. Average list price was $235,000 and average sales price was $221,000. Average days on market…just 26 days!

Now let’s compare to Jan 2012 and Jan 2011:

In January 2012, two homes sold. Average list price was $224,500 and average sales price was $215,000. Average days on market…43 days.

In January 2011, one home sold. The list price was $145,000 and the sales price was $146,777. Average days on market for the one sale was 158 days.

There is no doubt that home prices are on the rise in Armour Hills. I track the sales every month, and 2012 finished with more homes sold than 2011, a higher average sales price and less time on the market. I expect this trend to continue in 2013.

Currently there are nine homes for sale in Armour Hills, with an average price of $235,089, Overall, there is a lack of good inventory in the Brookside area. If you’ve been waiting for the market to change in the seller’s favor…now is the time to list your home! If it’s been well maintained, priced correctly and updated, you may have competing offers.

Contact me if you would like more details on the current state of the home sales market in Brookside.

(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)

Armour Hills Gardens 2012 Home Sales Report

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Brookside is always an attractive neighborhood for first time buyers who are on a limited budget.  One of my favorite more affordable areas in Brookside is Armour Hills Gardens.  Buyers can usually purchase a three bedroom, two bath home with a one or two car garage  in a price range of $210-$230K, depending on condition and location.

Anna and Dave bought an Armour Hills Gardens house in 2012

Anna and Dave bought an Armour Hills Gardens house in 2012

Armour Hills Gardens is bounded by E 65th St to the north, Oak to the west, Holmes to the east and E 69th St to the south.  Unlike its’ neighbor Armour Hills to the west  (where I live), Armour Hills Gardens homes were generally built in the 1940s and don’t have some of the older architectural charm of its’ western neighbor.  Still, characteristics of these homes include a stone or brick front, screened in porch, private driveway, and sometimes an attached garage.  The location is convenient, close to nearby schools and St Peter’s Catholic Church, UMKC, Brookside shops and the Plaza/Westport area.  Frequent city service runs along Oak St.

Here are year end single family home sales stats for Armour Hills Gardens in Brookside:

In 2012, 20 homes sold, with an average list price of $224,624 and an average sales price of $220,025.  The lowest sale was $122,000 and the highest was $345,000.

In 2011, 13 homes sold, with an average list price of $237,427 and an average sale price of $230,469.

Armour Hills Gardens home with stone front

Armour Hills Gardens home with stone front

Note there were more homes sold in 2012, reflecting a stronger housing market coming back from the recession.  The average sales price was almost $10K lower.  This can be explained by more lower priced (foreclosure/short sales included) homes sold in 2012, which brings down the average sales price.  Armour Hills Gardens is a very desirable area, and if a home goes on the market that is priced well and updated, it sells quickly.

Currently there are seven homes for sale in the subdivision with an average price of $197,000. Inventory  is low! If you are considering a home purchase in the Brookside area, check out Armour Hills Gardens. I’ve sold several homes in the subdivision and my clients love the neighborhood!

(All stats taken from Heartland MLS; deemed reliable but not guaranteed.)