Buying Foreclosures and Short Sales in Kansas City and Johnson County – What’s the deal?

Buying Foreclosures and Short Sales in Kansas City and Johnson County KS can be a very  good opportunity for any buyer, and especially in a buyer’s market you can get a two for one value. So what’s the deal? Is there a deal? How do I find them? How do I buy them?

Do you know what you are getting into?

Make sure you know what you are buying before you get too excited about a possible deal.

Great questions! Lets look at a couple key points that I am going to discuss in detail in future blog posts.

  • What is the difference between a Foreclosure and a Short Sale?
  • Where can I find Foreclosures and Short Sales in Kansas City?
  • Are there any particular requirements for me to purchase a Foreclosure or Short Sale?
  • Are Foreclosures or Short Sales right for me?

What is the difference between a Foreclosure and a Short Sale?

There are huge differences and while both can be a great opportunity, It’s important to know what you are getting into. Especially if you have a very strict time deadline. You will find out the “Short Sale” does not mean “Quick Sale”. We will go into that in more detail in our next post.

Where can I find Foreclosures and Short Sales in Kansas City?

You have started at the right place! With Me! DO NOT GO OUT AND PAY FOR A LIST! Just subscribe to this blog or our Facebook Fan Page to get the info hot off the presses.

Are there any particular requirements for me to purchase a Foreclosure or Short Sale?

Yes, depending on if you are going to rent or live, or finance or pay cash.

Are Foreclosures or Short Sales right for me?

We will discuss things like timeline, type of financing, how handy are you? Do you have a little pile of cash to make repairs and make double your money? Are you patient and can wait for the right deal?

Stay Tuned! If you cant wait for the next post, just email me or contract us here.

Lenexa Kansas Golf Course Homes/Communities

If you are looking to live in a quality great community and wonderful neighborhood that is beautiful and highly desirable, then look no further than Lenexa Kansas Golf Course Homes/Communities. Lenexa Kansas offers fantastic homes that sit on large grass lots, complete with a wonderful golf courses that are just steps away from your new home. Living in the wholesome state of Kansas, Lenexa is the community you have been looking for!

Golf

If you are a golfer, then is not a better place to live than in Lenexa. There are 4 executive golf communities in the area and they are all perfect for everyone including; beginner to moderate golfers, and all the way to the advanced and professional golfer. The golf courses are definitely an attraction and fantastic attribute to living in a Lenexa Kansas Golf Course Homes/Community. It is perfect to live next to a golf course if you are interested in golfing, the golfing lifestyle or even an avid golfer yourself. There is an entire golfing community at Lenexa and if you just love to golf, you will love the fact that you will be around like-minded individual’s right in your neighborhood.

Lenexa, Kansas

Raising a family in a Golf Course Community in Lenexa is a wonderful idea due to the amenities that are available in Lenexa, Kansas. The homes/communities include all the features that make life grand. Close by, there will always be something to do for the kids as well as yourself. The idea is that when you buy a home in Lenexa, Kansas, you are not just buying the home, but you are buying the community as well as the neighborhood. It makes perfect financial sense to buy a home that is surrounded by lush foliage, a great golf course and other beautiful homes. All these positive perks will make resale a breeze if you ever want to put your home back on the market, but you won’t want to with the joy you will find living in a Lenexa Kansas Golf Course Homes/Communities.

KC First Time Home Buyers Fears (part 2)

First Time Home Buyer Fears part 2

Yesterday I started to address the results of a survey I posted on my Facebook Fan Page on what are some of your biggest fears when you bought your first home, or what are you concerned with most if you are thinking about buying a home right now. You can read the first post in this series here.

So to quickly recap. What were the top 3 first time home buyers fears in the Kansas City area?

  1. Buying in the right area.
  2. Can I afford it if something happens to me financially?
  3. Can I afford the maintenance?

Can I afford it if something happens to me financially?What now?

This is a really great question, and is still at the front of everyone’s mind in light of the recent economic situation. People who have seemingly rock solid jobs with the city, government, fortune 500 companies are being let go daily. So what happens then?

The first thing is having a great conversation with your lender and making sure you buy what you can afford. A good lender will not just give you a blank check, they will sit down with you, go over your monthly expenses and discuss with you what you could and should take on. The lenders who are still in business are good, there is a reason they have survived the market shift. Listen to them, but more importantly ask them questions. Here are a couple good questions you may consider asking your lender:

  • What will my total PITI (Principle, Interest, Taxes and Insurance) payment going to be?
  • What is my current debt to income ratio?
  • If I needed to sell quickly is this loan assumable?
  • Are there any prepayment penalties if I pay off my loan sooner rather than later or have to sell quickly

I will be going much further into lending, terms and the different products available in a future post.

The next step is making sure you are not paying too much for your home. As a market expert, I see hundreds of homes a month and watch the market statistics religiously. A phrase I use often with my clients is this, “If you are not a little embarrassed by your offer, you are offering too much.” This always gets a smile and you can see body language relax a little. I will always let you know if a property is grossly overpriced or if it is a Smoking HOT deal. Actually, I’m required by LAW to let you know about SMOKING HOT DEALS 🙂 That is, if we have an agency agreement.

Worst case scenario, if you lose your job and main source of income, there are options to mitigate your losses. Not over extending yourself on your mortgage on the front end can help you possibly handle it on one income until you get back in the workforce. Buying it correctly and not paying too much gives you the best opportunity to sell your home quickly and possibly not lose any money.

Stay tuned for part three of this survey Can I afford the maintenance? You can subscribe to this blog by clicking on the RSS feed icon or like our fan page and be updated when a new post hits.

Download our FREE First Time Home buyers eBook that talk about the step by step process that myself and my team will help with.

As always, thanks for reading!

P.S. If you or a friend or coworker is thinking about buying a home or selling a home in the next 30-60 days let us know! We would be thrilled to help your friends and family.

Top 3 First Time Home Buyer Worries. You are not alone.

Stressed about buying your first home?Being a first time home buyer can be pretty scary. It wasn’t that long ago that we sat at the closing table, staring at that seemingly endless pile of paperwork, thinking to ourselves, “Are we really doing this?” At that time I was not a Realtor, I was just like you – but I have never forgotten that butterfly sickness that came over me when it was time to close. So even though I now close 3-4 transactions a month, I am still very much aware of the sensitivities and stresses of the closing table.

I was curious to see if my personal initial fears were shared by many others. I harnessed to power of Facebook and asked a survey question on my Fan Page, http://www.Facebook.com/MatSellsKC and I wanted to discuss the top three first time home buyer fears an also discuss some ways to ease that fear a little bit.

When buying or selling your first home, or if you are thinking of buying a home, what is your greatest fear or concern?

So I posted this question with the option for readers to write in their own answer or vote on one already there. Over 30 friends voted(thanks) and the top 3 first time home buyer fears were:

  1. Buying in the right area.
  2. Can I afford it if something happens to me financially.
  3. Can I afford the maintenance?

Buying in the right area

Okay, I have to bite, we have all heard this term – there are only 3 things that matter in Real Estate – Location, Location, Location. 39% of my friends who took the poll agreed. So what does location really mean, and how can you make sure you are buying in the right area.

There are 5 things to consider when choosing location:

  1. Commute Time to work – Do I get a smaller house and shorter commute, or do I add 10 minutes to my drive time and double my square footage?
  2. Schools– Do the public schools in the area provide the education and extra curricular activities we are looking for, or will be looking for in the near future?
  3. Local Amenities – Are the stores close by? Do we have access to the arts/entertainment? How walkable is my neighborhood?
  4. Public TransportationDo I have access to bus lines, trains/light rail?
  5. Privacy – How close to my neighbors do I really want to be? Can they look right into our bedroom window?

Take some time to talk about or discuss these main issues to help streamline your decision making process. As a neighborhood expert, I can help guide you through some of these decisions and show you all the homes that fit your specific needs and criteria.

I will be tackling fears 2 and 3 on a future blog post. In the meantime, let me know in the comments section below, what other considerations are you thinking about when looking for the right area to buy a home in Kansas City?

Download our FREE First Time Home buyers eBook that talk about the step by step process that myself and my team will help with.

As always, thanks for reading!

If you or a friend or coworker is thinking about buying a home or selling a home in the next 30-60 days let us know! We would be thrilled to help your friends and family.