Overland Park Real Estate
8 views | +0 today
Follow
Your new post is loading...
Your new post is loading...
Scooped by T.J. Lamb
Scoop.it!

Overland Park Home Inspector – Questions to Ask

Overland Park Home Inspector Questions to Ask Finding a reliable Overland Park home inspector is a "must-do" thing when buying a home. A thorough home inspection can help to uncover hidden damage and shine some light on potentially costly future repairs. But home inspections aren t just completed to keep the buyer safe — they can help to protect the real estate professional too. Informed buyers are more likely to be satisfied with their purchase and, as a result, they ll be far less likely to come back to haunt you after the sale closes. Make sure any Overland Park home inspector you decide to hire is professional and qualified, will do a thorough job, and won t be afraid to crawl under the house to make sure the floor isn t about to cave in! 7 Questions To Help Evaluate a Overland Park Home Inspector 1 Are you licensed? Some states don t have any licensing requirements, so be sure to ask if the Overland Park home inspector you re considering is licensed or not. 2 What Credentia
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Credit Scores for Overland Park Renters Rising

Credit Scores for Overland Park Renters Rising Credit scores for Overland Park renters appears to be unaffected by the surging cost of renting according to a report from CoreLogic. New data from CoreLogic found that the risk of default among Overland Park renters decreased year-over-year by two points, according to the firm s index value for the first quarter of 2015 — compared to the index value in the first quarter of 2014. The two-point, year-over-year decrease is a sign of the improving ability to meet lease obligations among prospective Overland Park renters. And that s a positive sign for investors entering or expanding their market presence. It s also a good sign for the economy. Overland Park Renters Housing Outpacing Owned Home Values Recently, the real estate site Zillow noted that U.S. rents outpaced home values in April for the first time in years. The CoreLogic "SafeRent Renter Applicant Risk (RAR) Index" indicates the credit quality of renter applicants. Using a me
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Buying a Overland Park Home: Waiting Could Cost You

Buying a Overland Park Home: Waiting Could Cost You The costs of delaying or forgoing buying a Overland Park home in today s market have become very high. This projection is according to the inaugural Opportunity Cost Report released by Realtor.com. With interest rates and home prices expected to rise within the next year, consumers could end up costing themselves more by putting off buying a Overland Park home. The report used data on current median existing home prices, rents, local Overland Park mortgage rates, and estimates of property tax, and insurance rates. It also factored in maintenance costs, costs of selling, forecasts for mortgage rates, home prices, and rents over a 30-year time period. Current market conditions give buyers the opportunity to build substantial wealth in the long-term, compared with renters and later buyers, in advance of the projected increase in mortgage rates and continuing price appreciation. The problem is, and has been for some time, inventory is lo
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Updating the Value of Your Overland Park Home

Updating the Value of Your Overland Park Home Whether you are looking to sell your Overland Park home or plan to stay in it for years to come, most homeowners have a running list of projects in mind with the hopes of increasing the appeal, comfort, and value of their Overland Park home. Regardless of whether you live in a charming old century home or a sleek modern one, there are plenty of ways to improve the value of your Overland Park home with a wide range of cost and knowledge required to get the job done. 6 Ways for Improving Your Overland Park Home Value Remodel the Kitchen Most real estate agents agree that a kitchen remodel is one of the best ways to increase the value of your Overland Park home. Remodeling your kitchen may seem like an overwhelming task, but if your budget is limited, start small and work in segments. Consider starting by replacing appliances and adding a new colorful back splash. These are things that can be done with little or no experience in the home impr
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Overland Park Real Estate News – June 2015

Overland Park Real Estate News June 2015 In our Overland Park Real Estate News for June 2015: Buyers Still Positive On Overland Park Housing Buyer s views toward Overland Park housing have not varied much over the past year, and they are still positive on homeownership as a good financial investment. According the Federal Reserve Bank of New York s 2015 housing survey, U.S. households, on average, expect home-price growth to continue at a 4.4% pace for the next year, comparable to the average year-ahead expectation reported in last year s survey. Last year s survey was the first in the series, with this year s survey getting administered to 1,205 U.S. heads of household in February 2015. Survey respondents were asked for the current value of a typical home in their zip code, and what they expected the value of that home to be in one year and in five years. With regard to longer-term expectations, the average expected annualized change in home prices over the next five years was 2.9%.
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

New Homes Increase 7 Percent in April

New Homes Increase 7 Percent in April Sales of new homes increased nearly 7 percent in April to a seasonally adjusted annual rate of 517,000, according to the U.S. Census Bureau. New Homes Numbers Still Below Average The new homes numbers are still below-average historically, but they are up 26 percent compared with April 2014. Plus, home builders were relieved that sales bounced back in April after slumping in March. U.S. building permits rose 6%, while housing starts rose 9% versus a year ago, not seasonally adjusted. Bloomberg s Josh Wright reports on "Bloomberg Markets." . New homes, however, represent only a fraction of the housing market. Sales of existing homes fell 3.3 percent in April to a seasonally adjusted annual rate of 5.04 million, the National Association of Realtors reported recently. The good news is that existing home sales topped 5 million for the second consecutive month. Most real estate agents and brokers agree that sales could have easily been higher if more ho
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Overland Park Mortgage Rates Move Higher Again

Overland Park Mortgage Rates Move Higher Again Average Overland Park mortgage rates followed 10-year Treasury yields higher and rose for the third consecutive week last week. At 3.85%, the average 30-year fixed-rate Overland Park mortgage rate is just below the high for 2015. The 15-year fixed Overland Park mortgage rates averaged 3.07% with an average 0.6 point last week, up from the previous week when it averaged 3.02%. A year ago at this time, the 15-year fixed rate mortgage averaged 3.29%. Higher Overland Park Mortgage Rates Mean Less House Higher Overland Park mortgage rates will mean more expensive mortgages and less house. Right now, the 30-year mortgage costs nearly a half-percent cheaper than the same mortgage cost a year ago, and more than a full point cheaper than mortgages cost five years ago. If you agree with (almost literally) everyone else that interest rates will rise over the next 12 months, the time to lock in a low rate is now. The 5-year Treasury-indexed hybrid ad
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Winning Overland Park Real Estate Bidding Wars

Winning Overland Park Real Estate Bidding Wars With Overland Park real estate bidding wars starting to heat up with the coming of the spring buying season, it s more important than ever to get your ducks in a row before you start submitting offers on any Overland Park real estate. Diana Olick covers six ways to win a home bidding war in this red hot housing market . Overland Park Real Estate Prices Continue to Rise Because interest rates are still hovering near all time record lows, it s a good time to get into the market before those rates start to rise as everyone is forecasting them to do. But as Overland Park real estate prices keep rising, and then when rates start to rise, home buyers will have to settle for a lot less house for the same monthly payment later versus what they can get now, IF they have good enough credit to qualify. . The Overland Park real estate buying process doesn t have to be ugly or adversarial. You and the seller are both trying to come to an agreement tha
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Larger Overland Park Homes Are Back

Larger Overland Park Homes Are Back According to recent data from the U.S. Census Bureau, larger Overland Park homes are making a comeback, and bigger than ever. After a few years of shrinkage in the aftermath of the Great Recession, the median square footage of newly built Overland Park homes last year tipped the scales at over 2,400 square feet. That s nearly 1,000 square feet larger than the median home built in 1992. The death of the McMansion has been greatly exaggerated. Buyers Screaming for Larger Overland Park Homes Back in 2011, many observers were predicting the end of the McMansion era. But five years into the recovery that hardly even feels like one, homebuilders have returned to the old ways of building larger Overland Park homes. The recession was supposed to usher in a return to the dense, urban and walkable. Instead, the opposite has happened. Young first-time buyers, who are less inclined to buy big suburban houses, are largely staying away from the market altogether.
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Overland Park Home Prices Continue Rising

Overland Park Home Prices Continue Rising With Overland Park home prices continuing to rise, some fear that another housing bubble like we experienced in 2006 to 2008 may be on the horizon. We re seeing some of the same signs again like bidding wars, offers above asking price, closings before houses even hit the market. Signs that are once again becoming the norm in the real estate industry. But some economists say, any potential housing bubble this time around will be different than the one we all went through before. . Because interest rates are still hovering near all time record lows, it s a good time to get into the market before those rates start to rise as everyone is forecasting them to do. But as Overland Park home prices keep rising, and then when rates start to rise, home buyers will have to settle for a lot less house for the same monthly payment later versus what they can get now, IF they have good enough credit to qualify.We have more news almost daily in our Overland Pa
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Buying Overland Park Real Estate in a Seller’s Market

Buying Overland Park Real Estate in a Seller s Market Buying Overland Park real estate in any market can be challenging enough, not to mention trying to get through the maze in a seller s market. The biggest challenge facing homebuyers looking for Overland Park real estate may be finding a home to buy. The inventory of available homes for sale remains low in most areas, especially in certain price ranges. This lends to making it a strong seller s market right now. Tips for Buying Overland Park Real Estate Right Now A seller s market means that buyers have to be smart and prepared if they want to get the right house at the right price. Prospective buyers should start by looking online at homes, narrowing down neighborhood choices and deciding between must-have and preferred features. At the same time, buyers should visit a mortgage professional and get their financing in order. It s best to start that process before you start looking at homes, in case your credit needs repair or you ne
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Budgeting for Overland Park Home Improvements

Budgeting for Overland Park Home Improvements With May upon us already, here s a reminder that May is Home Improvement Month. Getting those Overland Park home improvements done and saving some serious cash at the same time is on everyone s wish list. Follow these tips for hammering out a better deal on your Overland Park home improvements . We have more tips for Overland Park home improvements in our Overland Park Home Improvements section of articles under Overland Park Real Estate Categories to your right. . And don t forget, we also post tips daily on Twitter and Facebook, sometimes pertaining directly to Overland Park home improvements. Find us there as well. . The post Budgeting for Overland Park Home Improvements appeared first on Overland Park KS Real Estate.
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Overland Park Real Estate News – May 2015

Overland Park Real Estate News May 2015 In our Overland Park Real Estate News for May 2015: Pending Overland Park Home Sales Up Pending Overland Park home sales were up in March, even though the low supply of available homes for sale is still a concern. The National Association of Realtors said this week that its seasonally adjusted pending home sales index rose 1.1 percent to 108.6 last month. The index has climbed 11.1 percent over the past 12 months after having dipped in 2014. Overall, figures suggest strengthening demand from would-be buyers, even though there are relatively few new listings on the market and sales prices are rising at a faster rate than wages. NAR says new home construction needs to increase and more existing homes need to come to market. Traditional buyers continue to replace investors paying cash. The association says that indicates this year’s activity is being driven by more long-term homeowners. Pending Overland Park home sales are a barometer of futu
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Delinquent Overland Park Mortgages Continue to Fall

Delinquent Overland Park Mortgages Continue to Fall The number of delinquent Overland Park mortgages continues to fall, but the foreclosure crisis is still taking its toll on thousands of borrowers locally, and hundreds of thousands nationwide. Nationally, of the approximately 952,000 borrowers who are 90 or more days past due on their monthly payments but not yet in foreclosure, 62 percent have already been through some form of home retention program, according to Black Knight Financial Services. They are, it seems, beyond help. Home retention programs were established by lenders and the government to work with borrowers to enable them to keep their homes. In 2010, homeowners on average could have received a $530 monthly payment reduction. That has dropped to a $450 range today.
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Biggest Mistakes Overland Park Homebuyers Make

Biggest Mistakes Overland Park Homebuyers Make Nearly one-third of all Overland Park homebuyers, and 68 percent of first-time buyers, were 34 or younger last year. Those numbers are expected to grow as millennials now represent the largest share of buyers. But many millennials are making some pretty costly mistakes according to a recent report from the National Association of Realtors. Here are three common and potentially costly mistakes to avoid no matter which age group you fit into. First Mistake Overland Park Homebuyers Make Overestimating what you can afford. First-time Overland Park homebuyers often focus on the down payment and monthly mortgage amount when calculating how much they can afford and forget to factor in closing and other costs. They often times get to the closing and are shocked by the amount of money they have to pay. Get pre-approved for a mortgage so you know how much a lender is willing to lend before you make an offer on a home. But keep in mind the amount yo
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Will Overland Park Home Ownership Rates Fall Further?

Will Overland Park Home Ownership Rates Fall Further? The Overland Park home ownership rate has dropped to 65 percent according to the US Census Bureau. This is after holding above 66 percent for the past three quarters. The last time the rate was this low, former President Bill Clinton was in office serving his second term. With the nationwide home ownership rate also at 65% and home values increasing, the housing industry and consumer groups are pressuring lawmakers to make the American Dream more accessible to the masses. Advocates are pushing for new mortgage standards crafted to prevent another crash. The question is, will Overland Park home ownership fall even further before the rate begins to turn upward? Real estate analyst Jason Meister, former Fannie Mae executive Tim Rood and Fox Business News’ Neil Cavuto talk about the state of the housing market in this short video report. . Younger-aged groups fear the worst in the market downturn signaling that economic stability
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Overland Park Rental Property Rates Keep Climbing

Overland Park Rental Property Rates Keep Climbing Overland Park rental property rates were 4% higher in April than a year before, according to a report from Zillow. That s the fastest increase in two years, outpacing Overland Park home prices, according to the report. Overland Park rental property affordability is getting worse, and it doesn t look like it will be getting better anytime soon. Svenja Gudell, senior director of economic research at Zillow, said "This is here to stay. We will continue to see rental increases, and affordability will worsen before it gets better." Income Not Keeping Up With Overland Park Rental Property Increases Overland Park rental property rates have been steadily increasing since 2000 and unlike home prices, which took a hit when the bubble burst, there s been no disruption to slow rent prices, explained Gudell. Income hasn t kept up with all these Overland Park rental property increases. Renters are having to spend much more of their monthly income on
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Overland Park Mortgage Mistakes to Avoid

Overland Park Mortgage Mistakes to Avoid There are some expensive Overland Park mortgage mistakes you need to avoid at all costs. Scoring the best deal on a mortgage or refinancing involves shopping around. Yet 77 percent of borrowers applied for a loan with a single lender instead of checking out several to compare costs. A recent study by the Consumer Financial Protection Bureau indicated that people may actually put more time and effort into shopping for smaller products such as appliances and televisions than they do in shopping for the right Overland Park mortgage. On a $250,000 30-year fixed rate mortgage, that could cost you tens of thousands of dollars. Following these steps will help you get the best deal on your Overland Park mortgage. Tips for Getting the Best Overland Park Mortgage Get Your Credit Score To get the most favorable rate on a loan, you need to have a credit score of at least 740, according to Bankrate.com. Recently, if your score was 740 and you applied for a
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Record Existing Overland Park Home Sales Expected

Record Existing Overland Park Home Sales Expected Existing Overland Park home sales are expected to finish the year at their highest level since 2006 according to the National Association of Realtors’ economic forecast forum revealed at its 2015 Legislative Meetings & Trade Expo. However, accelerating price growth and rising mortgage rates have the potential to change the expected finish. In the most recent existing-homes sales report, sales surged to their highest annual rate in 18 months, showing a promising beginning to the spring homebuying season. Nationwide, total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 6.1% to a seasonally adjusted annual rate of 5.19 million in March from 4.89 million in February — the highest annual rate since September 2013 (also 5.19 million). What s Driving Overland Park Home Sales? Sustained job growth and interest rates below 4% have been the catalyst b
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Keeping Overland Park Homeowners Insurance From Increasing

Keeping Overland Park Homeowners Insurance From Increasing Overland Park homeowners insurance is something many home buyers don t have first and foremost on their minds when thinking of buying a new home, but your Overland Park homeowners insurance could add up to a major expense
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

How Aging Homes Could Affect Overland Park Home Buyers

How Aging Homes Could Affect Overland Park Home Buyers With more and more houses getting older and older, how could this aging trend affect Overland Park home buyers in the future? The Department of Housing and Urban Development s American Housing Survey (AHS) shows that the median age of homes in the United States is now around 35 to 40 years old. The National Association of Realtors asserts that homeowners will have to undertake remodeling and renovation projects before selling unless the home is sold as-is, in which case Overland Park home buyers will be responsible to update their new residence. Even homeowners who aren t selling will need to consider remodeling for structural and aesthetic reasons. Overland Park Home Buyers Face Higher Prices Newer homes cost more than they used to. The price differential between new homes and older homes has increased from 10 percent traditionally to around 37 percent in 2014. This is due to rising construction costs, scarcity of lots, and a low
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Buying a Overland Park Home – Just the Beginning

Buying a Overland Park Home Just the Beginning When you start thinking about buying a Overland Park home, there are all kinds of financial tips about what to do and when. Things like where to buy, how to get the best mortgage rate, how to save on this and that. Heck, there s even a ton of information advising you why it s best not to even think about buying a Overland Park home. There s no arguing the fact that buying a Overland Park home is the biggest purchase you ll probably ever make, which is why it s especially important to take a number of post-sale steps to make sure you protect your largest financial investment ever. Steps to Take AFTER Buying a Overland Park Home The first thing you should do after buying a Overland Park home is re-key or change all the locks on the doors and windows of your new home. You may also want to consider installing deadbolts where there are none. This may not seem like a financial issue, it will quickly become one if you have to replace a whole hou
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Selling a Overland Park Home: Lock Up Valuables

Selling a Overland Park Home: Lock Up Valuables If you re selling your Overland Park home, part of the staging process is removing valuables and anything that could be harmful before you start showing your home. Buyers do not need the distractions and unfortunately, not everyone is honest. Preparations for Selling Your Overland Park Home Prepare for selling your Overland Park home by putting away and locking up valuables like money, jewelry, silverware and collectibles. This makes the home show better and buyers won t become fixated on the things in the home instead of the home itself. Your Overland Park home will sell faster and not linger on the market when it is is in prime selling condition. Potentially harmful items like guns, ammunition, knives and prescription drugs are items that can tempt a less than honest person. They could also tempt a child that may be along for the ride and none of us wants a child to get hurt. Even something innocent like aspirin or cough syrup could ca
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Myths of Buying and Selling Overland Park Houses

Myths of Buying and Selling Overland Park Houses There are several myths that have long circulated when it comes to buying and selling Overland Park houses. We decided to try and bust those myths in this article. What Everyone Misses When Buying and Selling Overland Park Houses The most important rule in real estate is location, location, location. Not true! The most important rule in real estate should be future location, future location, future location. Home buyers eager to maximize their returns need to look 10 or 20 years down the road to assess what will happen to the neighborhood, not what it is today. Buy the worst house in the best neighborhood. Wrong! The house will always be the worst house in the neighborhood, and buyers in a great neighborhood are likely to look past your ugly duckling when you go to sell. Price gains on these "worst houses" actually under-perform their surrounding neighborhood rather than being carried along with them. Instead, a shopper should buy the w
more...
No comment yet.
Scooped by T.J. Lamb
Scoop.it!

Buying Overland Park Real Estate: What Higher Rates Will Do

Buying Overland Park Real Estate: What Higher Rates Will Do If you re looking to buy Overland Park real estate in the next year, you might want to do so before higher interest rates make financing such big-ticket purchases a lot more expensive. The Federal Reserve, which controls the supply of U.S. dollars and short-term interest rates, has indicated that it could start raising rates as soon as June. Mortgage rates for those buying Overland Park real estate have been so low for so long that people might have forgotten what it s like to pay "normal" mortgage rates of 6 percent to 8 percent for a home mortgage. But if rates rise, the impact will be felt by nearly everyone trying to buy Overland Park real estate and even those trying to sell their home as well. How Overland Park Real Estate Will Cost More When applying for a mortgage, lenders will assess your ability to pay back the loan based on your income and the monthly mortgage payment. The higher your income, the larger the allowed
more...
No comment yet.