Parents As Investors – Financing Your Investment
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The State of Northland Real Estate
The market is better than last year.
Possibly, nearing pretty fair, even. Even is a good term and I will elaborate as to why I say so.
Sandy and I study statistics all the time. It is part of our job to know what the numbers are regarding the percentage increases, decreases, active listings, days on the market, sales, expireds, all the inventories by neighborhood etc, etc. It is our way of knowing how best to counsel you on what’s what with the state of the real estate market in Northland Kansas City, and more generally, in our city, in our country. We particularily look at a set of stats from the MARKET REPORTS* published by our Heartland MLS**.
Here’s the quick summary of the reports: Right now, in early 2012, it looks like Clay County and Platte County - our beloved Northland - is nearing a situation of “eveness “. The number of homes for sale and the number of homes selling seems to be about even or balanced. For example, in Platte County there are currently 686 existing( resale) homes for sale (i.e. the supply). In 2011 there were 1210 homes sold (i.e. the demand). In other words, based on the rate of homes selling (1210 in a year) 686 homes will sell in a little more than 6 months or a turnover of about twice a year. That is the ideal situation. Neither a buyer’s, nor a seller’s market – a balance market.
However, it is now nearly spring. At least in the real estate market. Folks thinking of moving, who have a home to sell, start preparing for the spring selling months – February through June. The supply of listings will increase, beginning now.
Further, we are concerned that over the last few months, in Northland, the number of foreclosures and bank owned listings, bottlenecked over the holidays, may soon begin appearing on the market. If demand remains the same, as in the last 6 months of 2011, we will see the continuation a very strong buyer’s market – especially attractive: the lowest interest rates in our personal history combined with depressed prices from the oversupply of properties for sale.
You can study all the numbers for 2011 s as we are happy to share them with you for your information. Just go online*. We also intend to post each month, in our newsletter a summary of what’s happening with your home, your rentals, your children’s financial real estate opportunities.
If you know someone who is thinking of a move or a purchase. Please tell them about us. Tell us about them.
*NiceGuysWorkHard.com/blogspot/marketreports.pdf- for your free copy
**The MLS is the source for all listings offered, sold in our area that REALTORS use to access showings, listing consulting, and advising our clients
