I think of Covid as gas on hot embers. As I illustrate here, the housing market has been sick long before the pandemic. This virus just set it on fire. Having said that, the data shows that the housing market is slowly coming back to life. Should things continue on the track they are on, this may take 3 or more years to get back to a healthy real estate market. Here I gather 2021 KCRAR (Kansas City Regional [...]
So why the jump in lumber? Really? I finally found a great article from NPR that sums it up pretty well. It comes down to a negative correlation between lumber mill shutdowns during the pandemic while simultaneously a demand for lumber going up. Though it is still up 80% compared to pre-pandemic, that is a lot better than 500%! Click the image to read the article.
Okay so I hesitate to even say anything out loud, but I am feeling (cautiously) optimistic. Why still so guarded? Because we have a LONG way to go. I have seen signs that things are starting to stall (a small increase in inventory, a small decrease in active buyers), but compared to the rest of the country KCMO has been hit much harder than most. Now there is news that the lumber prices are coming down, more buyers are [...]
Time to check in on the local 1st quarter housing market data. Watch this 2-minute video straight for the source, Heartland MLS.
Being informed is like turning on a light in a dark room. So what can we expect from the housing market? If you are a buyer or a seller or have known someone in the housing market right now, you know it is CRAZY. I have spoken to some very seasoned agents who say they have never seen anything like this before. One way to begin to solve the problem and find a solution is to understand what is [...]
Moving from one state to another is a pretty big undertaking. With a little planning, the process can be a smooth one. These Relocating Tips can get you started in the right direction.
CALLING ALL SELLERS! IT IS TIME TO SELL YOUR HOME! Your home is your biggest investment. There is a saying in the stock market, "buy low and sell high." Well, currently we are under extraordinary circumstances, and it is a good time to do both. The average sales price of homes in Jackson County has gone up 26.6% since this time last year. This means if your home was worth $200,000 this time last year, then currently is has [...]