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If you're looking to buy, sell or build a home, you've come to the best place on the web. Here, you can search nearly every listed property in the Kansas City metro and Johnson County area. Check out the neat map based searches. You can also find your home's value or learn more about building a home. If you need assistance at any time you can email me and I will personally respond within the hour (usually within minutes) so you can get the information you need, when you need it.
Below you will find my daily Blog, it's my online journal and a glipse into my not-so-exciting life. Now's a great time to bookmark this site so you don't ever forget where it is. So, pull up a chair and get to clickin'!
July 6, 2011
Short Sales
Everyone knows the difference between a short sale a forclosure right?
Well, a short sale is where a homeowner decides to sell their house for less than it's worth. They list the house with an agent of their choosing. Typically (not always) they are behind on payments and so the lender is willing to take less for the house than what is owed. Some lenders have entire divisions that deal with short sales and they run very smoothly. Still, they can take weeks to months to answer your offer because the lender and not the seller must decide what the final sale price will be. Meanwhile, you (the buyer) are stuck in limbo unable to buy another home, waiting for two months for the bank to answer. They may counter back thousands higher than you offered or thousands higher than the seller was even asking or they may accept and you get a great deal. I've had better luck with smaller, local lenders because the decsion makers are more accesible and can say yes or no immediately. Under the right circumstances, it can work out.
Foreclosures are much cleaner because the bank already owns the home and you can usually get an answer in just a day or two. However, very rare is the forclosure that does not need ANY work. Also, they have become so "hot" I've heard agents are giving bus tours of foreclosures to investors! This is actually driving up the price of foreclosures which seems counterproductive. When you have 4 or 5 investors all interested in the same property and 2 non investors you get multiple offers and suddenly it's not a very good deal anymore, especially when the house needs alot of work.
Recent Entries
The Home Buyer's Credit (March 13, 2010)
It's not so bad (November 25, 2008)
Weather or the Economy? (February 21, 2008)