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Yesterday marked the 2nd installment of a short sale webinar series provided by Bank of America. Many great tips and valuable information was passed on about a Government short sale program called HAFA, or “Home Affordable Foreclosure Alternatives”. While the program has been around a little while, it is only now gaining some traction. One of the key provisions of this program is that it fully relieves the homeowner from any liability down the road from the lenders involved.
A second key provision is that the homeowner might be eligible for some moving assistance, rather than jest being thrown out on the streets. I have created a FREE handout on short sales. Find by clicking here.
Help is available for those that seek it out. Find a competent professional that will help steer you through this process. The goal of any short sale program is to help homeowners stay in their home by first considering a loan modification. I discussed this with a friend last week. He knew someone that had tried to obtain a loan modification and was told no. The right questions will get “better” answers.
A recent report by Realty Trac, a leading foreclosure tracking service, shows that foreclosures are up in 75% of the markets across the country, with unemployment now driving the problem.
Visit my website for a Kansas City foreclosure property search
Ken Flaspohler
Broker/Owner with over 20 years experience.
I attended a webinar done by Bank of America last Wednesday. Several of us in the office watched and reflected how this affected our real estate business in Kansas City. Short sales are constantly changing. Two that I was involved in last summer now seem like ages ago. Earlier this summer we saw a cracking down by most mortgage companies on the requirements and prices they expected. Now the federal government has even gotten involved and created a “steamlined” short sale if you can believe that. I will we attending a webinar next week on this topic. Come back then and read more about it.
Seems Bank of America is trying to create a web portal whereby the consumer and the agent will have access to Bank of America resources to help with their short sales. I know it is confusing and sometimes downright deflating to be involved with a shortsale and seem like no one knows what they are doing. Work can now be done at the beginning of the time a seller puts the property up for sale, tasks can be assigned to all parties to complete and expedite the process.
For a FREE report on the Short Sale Process in Kansas City click here. Most principle remain the same or similar to what they have been in the past. A good agent and counselor will help you through this.
If you want to BUY a short sale property it is a great time to do so, but be patient, the emotional turmoil the seller is far greater than a what a buyer goes through.
But they continue to be a huge part or our current real estate market in Kansas City.
More later… Next Week “HAFA” the government version…
 View another episode of Ask the Kansas City Broker. This week deals with question on several issues.
First we will deal with short sales. After a short sale is negotiated between Buyer and Seller the contract is submitted to the seller’s lender for approval. The property is technically under contract to a buyer at that time. The lender still must approve the sale and sometimes will give approval only after a change in the terms. This process can take a long time. Use a good listing agent to help you through the short sale process. A listing agent that does not have experience with short sales can cause delays or even worse, cause the property to “flip”, or fall apart.
A start-up industry has come from the short sale market we are in. We are seeing companies that specialize with negotiating with lenders, in essence they are working with the lender to organize the short sale package, submit to the lender and hopefully get the lender approval for the short sale. Sometimes this may be good, sometimes not. Ask your agent about his/her experience with short sales and this may determine if you need one of these specialty companies.
An eminent domain issue has come up with one of our clients. Their property is being taken by Eminant Domain. The city they are in needs their home to widen a street. The minucipality will offer the homeowners a price for their property and the homeowner will need to relocate. Usually owners do not like being uprooted and I certainly can underestand why. Who wants to be forced out of their home. But in most cases it is for a bigger picture of progress. Fighting this can be time consuiming and expensive. Many people are generally needed to petition and fight “cityhall”. Talk to an attorney before starting this kind of a fight and get an idea of the expense and time involved.
My last topic for the week is one I ecnounter many times. Lack of communication. We as Realtors need to help our clients with their real estate issues. If we do not know or understand the issues we do not know how to get the answer. I find this problem exists throughout many transactions. Dont’ be embarrassed by the question or the circumstance, open communication will allow us to do our job and the client to get better service.
Come back next week for statistics and a market update for the month of October 2009.
Leave questions or comments, they will help make this a better resource for all.
 Watch this first in a series video about Kansas City real estate. I have been involved in real estate over 25 years and have been managing an office with about 1,000 transactions per year since 1994.
This segment summarizes the market in Kansas City for September 2009, the latest numbers available. As you will see the numbers are still down.
Leave me comments or suggestions for what you want to see, I will get it produced and uploaded. ENJOY!!
 Indian Valley Elementary School website Search homes for sale in Indian Valley Elementary School District. Indian Valley is in the Blue Valley school district and feeds into Oxford Middle School. Oxford Middle School feeds into Blue Valley Northwest High School. The Indian Valley Thunderbirds have been in the district since 1982 and are located at 11600 Knox, Overland Park, KS 66210.
Indian Valley Elementary is located just south of the Corporate Woods Office Park and is close to many other Overland Park features like Town Center Plaza and Johnson County Community College.
As listed on the website for Indian Valley, their vision statement is:
“Our dream is for Indian Valley Students to become problem solving people of outstanding character.”
 click for Indian Valley Elementary School homes currently for sale Click the picture for a home search for homes in the Indian Valley school district. This list is updated each time a new home comes on the market and each time a home goes under contract so enjoy finding your next home in this school district.
 click to view Kansas City foreclosure homes I also have a Kansas City foreclosure search that will provide information on distressed properties in the area.
My site is growing all the time. Search for the school of your choice. If you do not find it let me know I will gladly add it to my posts. 
I was recently asked about the rights of a tenant after a new owner purchases a property. Having owned rental property I can say that a tenant has rights that extend beyond the sale of a rental unit. Most counties have rules and regulations that govern this situation. I would recommend calling your county to see is they have laws on this. Another good source is a local landlords association. I know one in my area is the Johnson County Landlords Association. These groups can provide guidance in many matters related to investment property.
The rules are designed to protect not only the landlord but a tenant from leasing a property and being evicted before the end of a lease or changing the terms of an existing lease. Sometimes this may not seem reasonable to the other party but generally I find they are fair to all.
view Kansas City foreclosure homes If you want to search for a deal on an investment property or simply a new home, see my Kansas City foreclosure search page. A foreclosure can be challenging as many times they need repair.
If you have a question you need an answer for, let me know.
 click here to view homes currently on the market in Oak Park Oak Park subdivision is located next to the Oak Park Mall, a large suburban shopping mall in Johnson County Kansas. Oak Park Mall and the surrounding area contain many fun thing to do with shopping inside the mall and more shopping at other area stores. Access to Interstate 35 and 435 is nearby as well as Hwy 69, an access road to southern Overland Park.
Click here to access the Oak Park Homes Association.
Nearby schools include Westridge Middle School, Oak Park – Carpenter Elementary, and Shawnee Mission South High School.
Click the picture at right for all homes currently for sale in Oak Park Subdivision. This list is updated every time a new home comes on the market. If you want information on another area or subdivision let me know, I am adding to my list of watched neighborhoods all the time. You can search sold statistics for Oak Park Subdivision too.
view Kansas City foreclosure homes My Kansas City foreclosure search is accessible from its picture also.
Have fun… Ken Flaspohler
 click pic to view homes currently for sale in Nottingham Forest Nottingham Forest is located at the cornet of 119th and Switzer in Overland Park Kansas. With convenient access to 69 Hwy and Interstate 435, the location is excellent. View information and events from the Nottingham Forest Homes Association website.
I have summarized the subdivision sale information for the past 12 months as of 10/20/2009 below. As you can tell from the chart there are 9 homes for sale in Nottingham Forest at an average price of $389,689. There were 19 homes that sold in the past 12 months at an average price of $366,550. The average marketing time to sell these homes was 128.
I update my statistics on a regular basis so check back often. If you want information about another area search my site. it may already be here. If not let me know and I will add it to the areas I track.
If you want detailed information your homes value or any information her, let me know.
Search foreclosure homes
| Status: Active (9) |
|
|
List Price |
Sale Price |
SqFt |
DOM |
CDOM |
| Min |
$270,000 |
- |
2610 |
7 |
7 |
| Max |
$475,000 |
- |
4600 |
151 |
151 |
| Avg |
$368,689 |
- |
3739 |
70 |
70 |
| Sum |
$3,318,200 |
- |
|
|
|
| Status: Pending (1) |
|
|
List Price |
Sale Price |
SqFt |
DOM |
CDOM |
| Min |
$379,000 |
- |
4100 |
40 |
83 |
| Max |
$379,000 |
- |
4100 |
40 |
83 |
| Avg |
$379,000 |
- |
4100 |
40 |
83 |
| Sum |
$379,000 |
- |
|
|
|
| Status: Sold (19) |
|
|
List Price |
Sale Price |
SqFt |
DOM |
CDOM |
| Min |
$279,900 |
$262,700 |
3072 |
3 |
|
| Max |
$525,000 |
$515,000 |
6118 |
187 |
426 |
| Avg |
$383,866 |
$366,550 |
4279 |
97 |
128 |
| Sum |
$7,293,450 |
$6,964,450 |
|
|
|
| Status: All (29) |
|
|
List Price |
Sale Price |
SqFt |
DOM |
CDOM |
| Min |
$270,000 |
$262,700 |
2610 |
3 |
|
| Max |
$525,000 |
$515,000 |
6118 |
187 |
426 |
| Avg |
$378,988 |
$366,550 |
4110 |
87 |
109 |
| Sum |
$10,990,650 |
$6,964,450 |
|
|
|
view foreclosure homes in Kansas City Click the picture at the right to search for a pre-foreclosure or a foreclosure home in Kansas City. This service will generally cost you, the consumer a monthly fee but because you work through my site you can search as often as you like. When you see a property you like select the “For Agent Assistance, Click Here” button. I will be sent your contact information and the property id and can look up the property and get the information you require.
I do this free of charge of course for clients that choose to use me or my company for their property search in the Kansas City metro area.
Happy Searching!!
Ken Flaspohler… 
 Click to see Oak Park Manor homes currently for sale Oak Park Manor subdivision is located just south of Oak Park Mall, at approximately 103rd & Quivira, in Overland Park, Kansas. The links contained in this post are updated in real time. Click the picture to see the homes currently on the market in Oak Park Manor.
Just west of Oak Park Manor is Overland Park Regional Medical Center operated by HCA Midwest Health System.
I am constantly updating and adding areas. If you cannot find the area you want, let me know I will add the information so you can view the homes anytime you want.
Search this site to find historical sold data about average sale prices in Oak Park Manor.
To search for a foreclosure home near Oak Park Manor, click here.
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RE/MAX Best Associates Hi, my name is Ken Flaspohler, broker at RE/MAX Best Associates. Welcome to my blog. I want to share my experiences and knowledge so you can better understand the real estate world. After doing this for over 20 years I have come to realize I will never fully understand or know the nuances of buying and selling real estate. If I can share some of those with you I have succeeded in making my industry better.
If I can help with a particular question or issue, make a post...
I look forward to helping with your buying and selling needs. Referrals are an important part of my business.
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