Kansas City Real Estate Post Tax Credit

Well, we are twelve days into the real estate market without the tax credit and there is absolutely no way to make any scientific determinations.  But I can tell you a few things that are true and that I have noticed.

  • Looking at our showing service I can tell you that showings for the first week of May are down 48% from the last week in April.  -48%!
  • Our sales board at work, where I just added a fairly anemic sale, is quite thin compared to the previous two months at this time.  That’s just an observation.  Not a fact.
  • My phone?  Crickets.  Well, except for the many calls regarding more docs, loan stuff and FHA repairs for currently pending deals.

As suspected, the patient real estate buyer and/or investor may be able to start to pilfer some ever-growingly-uncomfortable sellers in a very short while.

5 Comments

Filed under Kansas City Real Estate

5 responses to “Kansas City Real Estate Post Tax Credit

  1. Pat

    KCMO Water Department surprise: After 1 Many 2010, landlords in Kansas City have to bill their new tenant for water service. The water service is to be in the owner’s name. If your property is in KCMO, your new tenants cannot put water service in their name. You can ask the water department to send them a copy of “your” bill. Your lease will have to say they pay you for water, sewer and if you want to push storm water.

    Thank you Kansas City city council for passing an ordinance to shift the responsibility for collecting water bills to landlords.

    Is KCMO going to make it easier to evict deadbeats or are we get stuck with lost rent and paying for water. What is next: Gas and Electric?

  2. Pat,

    Obviously you as an evil landlord have more money than you know what to do with.

    Seriously, KCMO is the worst run city since DC. How the new school superintendent hasn’t gotten removed already is beyond me. After all he’s trying to make people responsible for themselves in a city with a long history of shirking personal responsibility.

  3. Hi Chris,

    thanks for your blog on the KC market. Any recommendations for sellers wanting to sell after Apr 30? I believe that offering a lease option to buyers who need credit restoration seems one of the most logical steps. Frank

  4. Another Investor

    The subject of cities and utilities is off-topic, but here’s an even better example of municipal robbery of landlords. In Goodyear Arizona, if your tenants obtain water and garbage service but do not pay, you as the the property owner have to pay their bill.

    This is not the kind of area where you can raise the deposit to cover a potential loss, because a lot of these folks are blue collar and paycheck to paycheck. I’m thinking of raising the rents and clearly stating that water and garbage are included.

    This community is in a desert with little water and limited landfill space. The municipal policy will result in no incentive for tenant to conserve water or recycle the bottles, cans and newspapers because the landlord is paying….

  5. Sadly, we live in a world where responsibility falls on “someone else.”

    Lenin was right. Revolution is not necessary in the United States. We will legislate ourselves into socialism.

    Just take a look around.

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