There are two reasons for pursuing major home improvement projects:

A. You want new features in a home to improve your family’s quality of life, but you don’t want to leave your current home.

B. You want to [...]]]> Click this text to return to the RE/MAX Best Associates Website to see All Kansas City properties!

There are two reasons for pursuing major home improvement projects:

A. You want new features in a home to improve your family’s quality of life, but you don’t want to leave your current home.

B. You want to make your home more marketable to maximize return (or minimize loss) and speed up the sale process.

In the right market conditions, a project might fit into both categories. Other times, though, the two approaches will conflict:

Just want to do it

In situation A, the project is perceived as a necessary or worthwhile improvement to your family’s lifestyle. Say you have two or three teenagers in the family and the morning bathroom situation is completely out of control. It doesn’t matter if an  additional bath generates a 150 percent return on investment or actually decreases the value of the. The economic impact just doesn’t matter.  Or say you’re a barbecue fiend and the only feature missing from the dream home you’ve just purchased is a sprawling backyard patio with a natural-gas grill custom-built with flagstone and river rock. Again, return on investment isn’t a critical question. The improvement becomes more comparable to purchasing a depreciating asset you feel is a necessity for your lifestyle – such as an automobile. When the barbecue aficionado adds a deluxe patio – there’s a good chance very little of the cost will be recouped in a subsequent sale. A better example might be a pool. It is probably worth checking with a real estate professional to make sure you fully understand that adding a pool might actually lessen the property’s value. It is always worth knowing the cost and salability impacts before you act.   

The “type-B” home improvement project is pursued to increase the property’s salability. In turn, this often increases your return on investment.  A good real estate agent can advise you of possible improvements that will attract more potential buyers and also pay for themselves either through increasing the home’s value or through shortening the time it takes to sell the home.Projects such as: painting – either because the existing paint is in bad shape or is an unusual color; replacing carpets – again because of age, color or style; repairing or resurfacing a cracked driveway or sidewalk; facing kitchen cabinets; and trimming or removing overgrown or unattractive landscaping.

While spending several thousand dollars on your home right before you sell it might not sound very appealing, it’s not uncommon for the right work to more than pay for itself in a higher selling price and shorter marketing time. 

Whether you’re thinking about buying or selling or seeking information, rely on RE/MAX Best Associates 800-391-BEST(2378) X106 or 913-339-0615 to provide accurate up to date information about the marketplace email to: tfarrell@remax.net  or visit www.kansascityerealestate.com

Marketing real property and assisting buyers is a continuous process of evaluating value to determine pricing and offers to purchase. One of the standard Kansas City Regional Association of Realtors contract forms includes a section which requires inserting the tax appraised value of each property [...]]]> Click this
text to return to the RE/MAX Best Associates Website to see All KC properties!

Marketing real property and assisting buyers
is a continuous process of evaluating value to determine pricing and offers to
purchase. One of the standard Kansas City Regional Association of Realtors
contract forms includes a section which requires inserting the tax appraised
value of each property purchased. The appraised value of every property in the
state of Kansas is determined by drive by inspections. County
appraisers DO NOT enter properties.

In addition to visual street side
inspections, homeowners are asked to voluntarily complete information summaries
of their homes. The data secured from these voluntary summaries is added to a
value model and the cumulative data for any given area determines individual
taxable appraised values. The problem with the tax appraised values is they are
an inaccurate measure of values.

So called fee appraisals are based on past
sales and current asking prices for similar properties. Past sales are a
reflection of what buyers actually paid for properties. Current asking prices
are a measure of what sellers perceive the value of their properties to be
today. In general present asking prices are higher than past sales prices.

How then does a buyer determine a realistic
offer or a seller determine an accurate asking price? Buyers determine value by
comparing similar offerings. Smart buyers in fact require data on recent sales
and competing properties before making offers. Sellers also determine price by
comparing recent sale data and prices of competing similar properties.

Gone are the days when a seller can offer
properties at inflated prices with the thought that buyers can just make an
offer. If your property is perceived as overpriced not only will you not
receive offers but you’ll help other sellers sell correctly priced properties.

Buyers today are represented by buyer’s
agents in the vast majority of transactions. Part of your agent’s is to supply
data to you in determining value. Knowing buyers are better informed forces
sellers to examine the market thoroughly before determining price. A seller’s
agent will assist you in pricing your property correctly.

Increase your awareness by gathering
pertinent data before you buy or sell. Any product is only worth what the buyer
is willing to pay.

Whether
you’re thinking about buying or selling or seeking information, rely on RE/MAX
Best Associates 800-391-BEST(2378) or 913-345-BEST(2378) to provide accurate up
to date information about the marketplace today.
 

According to some sources only 35 to 40% of homes are inspected prior to purchase. Many states now require seller disclosure of known patent or latent defects to the buyer prior to closing. Comprehensive inspections completed by certified inspectors are a [...]]]> Click this
text to return to the RE/MAX Best Associates Website to see All KC properties!

According to some sources only 35 to 40% of
homes are inspected prior to purchase. Many states now require seller
disclosure of known patent or latent defects to the buyer prior to closing.
Comprehensive inspections completed by certified inspectors are a must if you
plan to buy real estate.

Typical inspections include: wood destroying
insect, environmental (radon, asbestos, lead, etc.), mechanical and structural
inspections. In general buyers pay for all inspections and sellers pay for
repairs. Beware of inspectors who also do repairs or recommend repairman. Also
beware of sellers who agree to provide you with already completed inspection
reports. Both the seller and buyer should be present at all inspections. All
parties will understand what deficiencies exist and what remedies are required.
The parties prior to any inspections may agree to a dollar limitation for
repairs. Although many new home purchase agreements are void of inspection
clauses, a new house may be just as likely to have a deficiency as an older
house. Services are available to inspect your new home in various stages of
construction. A good source for home inspectors in the United States and Canada
is ASHI (American Society of Home Inspectors). Members of ASHI must pass two
written technical exams and provide valid proof of completion of at least 250 fee
paid home inspections that meet or exceed ASHI standards of practice.  To find a home inspector in your area call
800-743-2744. Follow the prompts to receive a list of inspectors by facsimile
in minutes or by mail in less than a week.

Whether
you’re thinking about buying or selling or seeking information, rely on RE/MAX
Best Associates 800-391-BEST(2378) or 913-345-BEST(2378) to provide accurate up
to date information about the marketplace today.

The best time to sell is when there are fewer properties to sell than there are buyers to buy and when financing is readily available at relatively low interest rates. This time frame is known as a sellers market. The [...]]]> Click this text to return to the RE/MAX Best Associates
Website to see All KC properties!

The best time to sell is when there are
fewer properties to sell than there are buyers to buy and when financing is
readily available at relatively low interest rates. This time frame is known as
a sellers market. The best time to buy is when there are more properties on the
market to buy than there are buyers to buy them and when financing is readily
available at relatively low interest rates. This time frame is known as a
buyers market.

Interest rates are relatively low and
financing is readily available. The supply of products(houses) is good
depending on your price range and we’re in an election year which generally
means that the party in power generally strives to maintain the status quo. Now
is an excellent time to buy or sell. Your decision to enter the marketplace as
a buyer or a seller should be made based on your motivation to move and not on
trying to time the marketplace.

Kansas state law requires you receive and
sign a Disclosure of Alternative Agency Relationships. This disclosure lists
the choices available to you in establishing agency relationships. If you are
both a seller and a buyer you will most likely enter into two different agency
relationships. The same agent may represent you as a seller and a buyer. The
following descriptions of your choices will help you decide what kind of agency
relationship is best for your situation.

SELLER AGENT. A Seller’s Agent has the
duties of loyalty, obedience, disclosure, confidentiality, reasonable care,
diligence and accounting and a duty to represent the seller’s interest in the
sale of the property. This generally means a duty to market the property to
find a buyer willing to pay the highest price on the most advantageous terms as
quickly as possible. A Seller’s Agent also has the duty to disclose all
material information acquired from the buyer or any other source.

SUB-AGENT. Sellers may authorize their agent
to offer sub-agency to other firms. A sub-agent (agent to agent) also
represents the seller’s interests. Sellers have the same liability for the acts
of a sub-agent as they do for the agent they hire.

BUYER’S AGENT. A Buyer’s Agent has the
duties of loyalty, obedience, disclosure, confidentiality, reasonable care,
diligence and accounting and a duty to use expertise to help the buyer find a
suitable property and to acquire it at the most advantageous price and on terms
suitable to the buyer. A Buyer’s Agent also has the duty to disclose to the
buyer any material information acquired from the seller or from any other
source.

DISCLOSED DUAL AGENT. A real estate agent
may represent more than one party only with the informed consent of all the
parties to the transaction. Disclosed dual agency is most likely to occur when
a buyer represented by a Buyer’s Agent wants to purchase a property listed by
that agent’s firm. The buyer and the seller must sign a dual agency consent
agreement, which fully describes the duties and obligations of the disclosed
dual agent. A disclosed dual agent may not disclose any confidential
information that would place one party at an advantage over the other party and
may not disclose any of the following information without the informed consent
of the party to whom the information pertains: The buyer is willing to pay more
than the price offered, that the seller is willing to accept less than the
asking price, motivating factors of either party for buying or selling or that
a party will agree to financing terms other than those offered.

DESIGNATED AGENT. An alternative to
disclosed dual agency is a designated agent that represents the buyer. The
designated agent may show properties listed by other agents in that agent’s
firm to the buyer. The other agents represent the seller. The designated agent
performs all the duties of a Buyer’s Agent, while the other agents within the
firm perform the duties of the Seller’s Agent. the designated agent CANNOT
continue to represent the buyer exclusively IF: (1) the buyer wants to see a
property which is listed personally by the designated agent: or (2) the
designated agent’s broker becomes directly involved in the transaction. Either
situation would trigger a disclosed dual agency but ONLY with the written
consent of both parties.

Please keep in mind that the disclosure
presentation form MUST be presented to you when any substantive discussion
occurs and MUST be signed by you as a seller and or buyer by law but it is not
a contract. If you choose to have an agent represent you, a written agency
agreement (contract) MUST be signed.

RE/MAX Best Associates authorizes its agents
to act in any or all capacities listed.

Whether you’re thinking about buying or selling
or seeking information, rely on RE/MAX Best Associates 800-391-BEST(2378) or
913-345-BEST(2378) to provide accurate up to date information about the
marketplace. info@kansascityehomes.com www.kansascityehomes.com

Most of us when in need of professional assistance call a professional. We call a person we respect. We appreciate their knowledge and expertise and rely on them to give us accurate and comprehensive information. Some homeowners attempt to [...]]]> Click this text to return to the
RE/MAX Best Associates Website to see All KC properties!

Most of us when in need of
professional assistance call a professional. We call a person we respect. We
appreciate their knowledge and expertise and rely on them to give us accurate
and comprehensive information. Some homeowners attempt to sell their most
prized possession without any professional assistance. Sellers say they want to
save the professional fee. Buyers who look at properties offered by owners say
they too want to save the professional fee.

There is only one fee. Buyers
and sellers cannot both save the fee. Buyers make low offers and sellers
refuse. NO SALE is the result. Selling without professional assistance is
fraught with complexities a one time seller and buyer simply are not equipped
to handle. The for sale sign in the yard "welcomes strangers" and
invites unqualified, unsolicited and unprepared tire kickers at all hours of
the day and night.

Marketing a property is a
complex and daunting process that begins with research, which justifies the
asking price and ends with sometimes-intense negotiations with often ill
prepared buyers. Homeowners "sell" their properties only to find out their
would be buyer was not qualified to make a purchase. Sellers "sell"
their properties and find out the appraisal is lower than the sale price and
have the buyer back out of the sale.

There are many intangibles
involved in a real estate transaction. In virtually every transaction the
buyer, seller or both get buyer’s or seller’s remorse. Relying on a
professional who works with these kinds of issues seven days a week can be a
comfort that transcends any fee issue. Protect yourself by relying on a
professional.

Whether you’re
thinking about buying or selling or seeking information, rely on RE/MAX Best
Associates 800-391-BEST(2378) or 913-345-BEST(2378) to provide accurate up to
date information about the marketplace. info@kansascityehomes.com
www.kansascityehomes.com

According to the National Association of Realtors over ninety percent of homes sold in the United States are sold using the services of a professional Realtor. The other ten percent are sold by unrepresented [...]]]> Click this text to return to the RE/MAX Best Associates Website to see
All KC properties!

Buying or Selling Unrepresented  – Fact & Fiction

According
to the National Association of Realtors over ninety percent of homes sold in
the United States are sold using the services of a professional Realtor. The
other ten percent are sold by unrepresented owners.

If
you are considering selling by owner or buying from an unrepresented owner,
there are risks involved for both the buyers and sellers. Sellers risk selling
their property below market value. Buyers risk paying more than a property is
worth. unrepresented owners generally price their homes based on sales
information received ‘over the fence’ from neighbors or based on the selling
prices of Realtor listings in the area. The unrepresented owner’s objective is
to save the commission.

Buyers
also believe they can save the commission by buying direct from unrepresented
owners. Buyers shop by comparison whether they want to buy a widget or a home.
The problem is there is only one commission and both parties can’t save. Would
be unrepresented sellers and buyers should consider the following before going
it alone.

Unrepresented
owners are not governed by the same disclosure laws as Realtors. If you plan to
buy from an unrepresented owner make sure you have the property thoroughly
inspected by qualified professionals. Buyers should pay for all inspections. DO
NOT accept seller inspection statements, take nothing for granted and verify
everything.

Ask
yourself, do I have the expertise to draft a purchase contract that protects ME
and accurately states the terms of MY agreement with the seller. Serious
consideration should be given to hiring a knowledgeable real estate attorney if
there is no real estate agent involved.

Many
buyers in the Kansas City marketplace are transferred to the area and have
little or no knowledge about the dynamics of a real estate transaction and are
therefore urged by the transferring companies to use the professional services
of a Realtor. ‘Out of town’ buyers have limited time to find and purchase a
home and must manage the time spent completing all the necessary steps involved
in a home purchase.

Buying
or selling by owner presents many potential problems. If you are serious about
buying and or selling, I strongly suggest you either hire an attorney or seek
the counsel of a professional Realtor. 

Whether
you’re thinking about buying or selling or seeking information, rely on RE/MAX
Best Associates 800-391-BEST(2378) or 913-345-BEST(2378) to provide accurate up
to date information about the marketplace.

info@kansascityehomes.com realestate-matters.com

Every real estate contract contains the clause Time is of the essence. What does this statement mean? According to Encarta’s on line dictionary, essence is the intrinsic or indispensable properties that identify something and time is a non-spatial continuum in which events [...]]]> Click this text to return to the RE/MAX Best Associates Website to see
All KC properties!

Every
real estate contract contains the clause Time is of the essence. What does this
statement mean? According to Encarta’s on line dictionary, essence is the
intrinsic or indispensable properties that identify something and time is a non-spatial
continuum in which events occur in apparently irreversible succession. Time,
when applied to real estate is an indispensable property that continues
irrespective of the parties actions. Most real estate offers contain an expiration,
which limits the amount of time a party may have to act.

The market in many price ranges in Kansas City
recently can be characterized as a buyer’s market. In a buyer’s market there
are more houses to buy than there are buyers to buy. Time is on the seller’s
side in a seller’s market. In a buyer’s market the opposite is true. Time is on the
side of the buyer in a buyers market.

Whether
you’re thinking about buying or selling or seeking information, rely on RE/MAX
Best Associates 800-391-BEST(2378) or 913-345-BEST(2378) to provide accurate up
to date information about the marketplace.

info@kansascityehomes.com realestate-matters.com