Spring Bounce Is Here. Is It Permanent?

kw_sold2“That’s the busiest February I’ve ever had.” 

That from a Re/max agent I know that has been selling houses in Kansas City for 20+ years.

“Damn it!”   (Sorry for the swear word.)

That from a real estate investor I’m working with who just missed his third property in a week because when we made the offer there was already another “just accepted” contract.

I have had two closings in the last seven days with two more still on the board.

I’m not saying it’s 2003 around Kansas City.  I am saying people have moved off the sidelines and into the game.  A BIG factor is the first time home buyer’s credit.  First time home buyers are out and about in a big way.

And real estate investors are beginning to feel like we are at bottom (or close enough for hand grenades) that they are wanting in again.  Though they are coming in a little lower on price point because of the larger required down payments necessary by lending standards.

2 Comments

Filed under Kansas City Real Estate

2 responses to “Spring Bounce Is Here. Is It Permanent?

  1. Another Investor

    The Phoenix market has been hopping since January. The $8,000 tax credit is a huge factor. Multiple offers on foreclosures in good shape by first time homebuyers are common. First timers at the lower price points are moving back into the fringe areas like Queen Creek. Investors are picking up the junkier properties, often for cash. The pricing in the better locations has effectively increased as the lowest priced properties have disappeared and there are not a lot of new listings in those areas. Every agent I know who is still in the business has deals going. It’s going to be a busy spring!

  2. I absolutely agree. December was great. Nailed about 75% of my offers. I am batting maybe 1 out of 10 in February and March. Competition is brutal.

    One deal last week had 24 offers on it!

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