December 2009 sales for properties in Johnson County turned out to be a little slower than expected for closed sales. For the month of December,we were down for resale closings 11%, but for the year – ending ahead in resale sales were up 6%. That’s great news!! Meaning – we have seen some stabilization!! We saw that 13% of the resale homes in the Kansas side sold during December, with 28% of them sold in 30 days or less! So again for our sellers–Offer Value! Great condition & right pricing can equal Quick Sales!! The 1st time buyers are fueling these sales. The price range of 180,000-200,000 Had the most activity in sales of 15% of inventory sold! 50 Homes out of 328 sold in December of 2009. In December we had 2586 resale homes for sale in Johnson County available with 382 of them sold & closed.
With the Tax Credit available until April 30, 2010, We anticipate seeing a very active late winter/early spring market! SO-Don’t wait! More & More buyers will be out there-including move up buyers as the next few months move in!! This tax credit extension for both first time buyers and trade up buyers is a real boost to the marketplace, and what that means is that with stabilized pricing and a new deadline on the tax credit program, serious buyers and sellers will have to be very prepared during the negotiation process.
The first quarter of 2010 will be driven by the tax incentives which will create stronger competition for inventory. That said buyers should work with their agents and their loan originator to be completely pre-approved for their mortgage. Pre-approved buyers command more confidence for sellers, especially when there are multiple offers on the table.
My advice to sellers is to review the current marketing position with your agent. Take a close look at year-end sales to arrive at a more realistic and competitive pricing range. Sellers need to do what’s necessary to attract serious buyers and get their property sold in Overland Park real estate.
I am very proud to say that again in 2009 my team is one of the ReMax’s top home selling team in the Kansas City area! We are working very hard at getting our sellers the best prices we can and helping buyers get into the market while prices are down and interest rates are at historic lows. As our motto says…..Experience Matters!!
To find your dream home to go: www.HomeInfoKansasCity.com
