Rare Four Bedroom Home For Sale in Brookside!

613 E 66th St For Sale in Brookside

613 E 66th St For Sale in Brookside

Here we are, in the middle of the very busy Spring home selling/buying season in Brookside!  There are many, many buyers looking for homes….and a lack of inventory, especially in the $200-$225K price range.  So my  listing in Armour Hills Gardens should sell quickly!

fam rm one

Second floor family room–rare for this area, and at this price!

This is a true four bedroom home, which is hard to find in this price range.  The home features a Cape Cod floorplan, with two bedrooms and a full bath on the first floor, and two bedrooms and a full bath on the second floor.  Also on the second floor–a large family room, perfect for TV viewing or gaming!

kit windows

Natural light streams into the updated kitchen

The kitchen features newer cabinets, granite countertops, stainless steel appliances and a long row of windows overlooking the backyard area–lots of natural light here!  Just outside the kitchen is a dining room area, which also leads into a spacious screened in porch.  That is my favorite area of the home–it’s so relaxing to sit here, read a book, chat with friends or enjoy a meal protected from pesky flies and bugs!.

Relax here after a long day at the office!

Relax here after a long day at the office!

You’ll find hardwood floors on the first floor, except for the kitchen (tile floor), and freshly cleaned carpet on the second floor.  There is also an attached garage, full walk out basement and large fenced yard in back.

Living room with built-ins and fireplace

Living room with built-ins and fireplace

Located in popular Armour Hills Gardens, this is a great location and so convenient…just west of Holmes, and close to St Peter’s Church/School, Brookside shops and services, Metro bus stop and Highway 71 is within a mile.  Contact me for a private showing, or click my website for more pictures.  613 E 66th St, offered at $214,000.  A lot of space for the price!

Why There Is A Shortage of Homes For Sale

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!

Brookside Home Sales Report Jan 2013

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.

 

Brookside Home Sales Report September 2012

WOW, the figures I have to report this month for housing sales in Brookside are pretty amazing!  More homes are selling, and at higher prices.  Buyers believe in the value of  a Brookside address…that is obvious from the increased prices and all the renovations and room additions you see while cruising through the neighborhood blocks.
Here are the home sales statistics for September 2012, plus year-to-date figures.  I am using the main Brookside zip code of 64113 for this report on single family home sales: Continue reading