Two Area Cities Selected as “Best in America”

Many times when I meet prospective buyers, they ask me “where is the best place to live?”  Well, that’s really a difficult question to answer and honestly, it is one I cannot answer for you.  But, I can and do provide information based on what you are looking for.  Some people focus on schools and I can guide them to all kinds of information in that area.  Other people want to be close to their employment, highway access, or something else etc. One of the things many people like is to see how their city of choice is ranked compared to others; this is when I provide them with external resources such as Money Magazine’s recently published survey results of the 100 Best Small Cities in America.  These were cities with populations of 50,000 to 300,000.  Here are my comments and Money Magazine’s scores.

Overland Park

This is one of the cities I spend much of my professional and personal time at; I am very familiar with it. 

The Blue Valley School District will be opening up its fifth high school - BV Southwest at 175^th and Quivira this fall.  In addition, the new Center for Advanced Professional Studies (CAPS), which is designed to inspire students interested in critical areas of Bioscience, Business, Engineering and Human Services, will open this fall as well.  The new Center is located near 151^st and Marty (Metcalf).

For fun and entertainment, you cannot beat the new OP Soccer Complex which hosted the 2010 US Youth Soccer National Championships, July 20 -25^th.  Located at 137th and Switzer Rd., the 96 acre complex with 12 lighted, regulation size synthetic turf fields is the only facility of its kind in the United States. 

Continuing on the outdoor theme, the 300-acre OP Arboretum and Botanical Gardens located at 8909 W 179^th (179^th St. exit West from Highway 69) is a neat place to watch birds, deer, and walk through flower gardens and forest.  And lastly, if you have young children, do not miss the Deanna Rose Children’s Farmstead adjacent to the soccer complex; it is located at 138^th and Switzer.

Shawnee

Although the survey gave a “C” grade for Education, I have found Shawnee to be another school district known for academic excellence.  I checked their recent ACT and SAT scores and students across the district surpassed their state and national peers on the standardized tests.

Children love to visit Wonderscope in Shawnee; I know because I have taken my grandson there several times.  The learning and entertainment venue was awarded Nickelodeon’s2009 Parent’s Pick Award for Best Museum.  Wonderscope is easy to get to: one block north of Johnson Drive at 5700 King Street., approximately 1.5mi west of I-35 and Johnson Drive and 3.5mi east of I-435 and Johnson Drive.

If you want to learn more about the history of our area, Shawnee Town Museum is a great place to visit, located at 11501 W. 57th Street, it is 3 blocks west of Nieman Road on 57th Street.

Here are the local cities that made the Top 100 list:

*Source:  Money Magazine, August, 2010 100 Best Places to Live in America (Small Cities)

If you would like to comment on your favorite activity in these cities, send me an email.

Jim Krause, SFR, ABR

Certified Short Sale and Foreclosure Resource

Accredited Buyer Representative

Reece and Nichols 913-575-0042

Email:  This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Web:    www.jimkrause.reeceandnichols.com

As of this writing, interest rates on conventional loans are still in the 4.75% range for a 30-year fixed rate loan for those with a 740+ FICO.  There are still very attractive rates for FHA 5/1 ARM’s around 3.625%.  There has been a lot of negative news about ARM’s during the last year or two, but it may make a lot of sense for someone that only plans on staying in their home for five years or less.  If this sounds like your situation, contact a reputable lender or real estate agent for more information.

Here are some highlights of availability in Olathe; there were 891 single family homes for sale on June 22:

There were 498 single family homes or 55.9% of all single family active listings with a list price of $175,000 to $350,000.  There are several subdivisions with new construction ranging between $149,950 and $1.9 mil.

I welcome comments and suggestions for future newsletters.

Jim Krause, SFR

Certified Short Sale and Foreclosure Resource

Reece and Nichols 913-575-0042

Email:  This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

As of this writing, interest rates on conventional loans are still in the 4.75% range for a 30-year fixed rate loan for those with a 740+ FICO.  There are still very attractive rates for FHA 5/1 ARM’s around 3.625%.  There has been a lot of negative news about ARM’s during the last year or two, but it may make a lot of sense for someone that only plans on staying in their home for five years or less.  If this sounds like your situation, contact a reputable lender or real estate agent for more information.

Here are some highlights of availability in Lenexa; there were 256 single family homes for sale on June 22:

There were 108 single family homes or 42.2% of all single family active listings with a list price of $175,000 to $350,000.  There are two subdivisions in particular with new construction below $300,000 and several developments in the $300-500,000 range.

I welcome comments and suggestions for future newsletters.

Jim Krause, SFR

Certified Short Sale and Foreclosure Resource

Reece and Nichols 913-575-0042

Email:  This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Web:    www.jimkrause.reeceandnichols.com

You may have heard this saying often “All Real Estate is Local.”  Real estate “markets” can be very localized.  What this means is you may have a “hot, hot” market in one area of the country and somewhere else the market activity may be very slow. 

Now, the fact is, the entire U.S. and much of the world is undergoing a very economic challenging time.  For the most part real estate values were inflated around the world.  But, let’s just focus on the U.S. market.  Very few areas were not impacted by inflated prices – some more than others.  When the “bubble” broke, housing prices declined.  Some areas such as Florida, Arizona, California, Nevada, and Michigan were much worse off than many Midwestern states.  Even within the states of Kansas and Missouri, some counties have been harder hit than others.  And going even further, neighborhoods within zip codes can vary dramatically.  The point is “real estate markets are local.”  They can be affected by major events and situations, but the degree they are impacted can be vastly different.

A recent article in the July 27 local newspaper shouted out a headline “New home sales remain weak.”  Depending upon if you are a home owner or buyer, you might think this is terrible news or maybe the greatest buying opportunity ever!  The fact is, the headline really referred to national statistics.  The reporter accurately quoted figures for the Kansas City area that were much better than the national data.  But, the statistics for Johnson County are even better yet.

Now, why do I say that strong home sales are better?  Doesn’t this imply that home prices may be rising, how can that me good?  It’s simple; all of us really want prices to go up.  I have never met a buyer that hoped that the price of their newly purchased home would go down.  Soon after signing, they want to know how much will it go up next year?  When we experience modest inflation, asset prices (homes, stocks, commodities) generally increase, cost of goods (groceries, utilities, automobiles) increase, and wages generally increase.  As productivity improves, companies and people generally have an improved standard of living.  So, rising home prices are a good thing!

Comparison of New Home Construction statistics for Johnson County vs. KC Metro:

*Source: June data as reported in July by Heartland MLS                               **Source: Star Business Weekly 7/27/2010

The reason Johnson County new home prices declined is due to more lower price new homes being sold.  Actually, when sold in June, 2010, the selling price was 100% of the list price; it was slightly lower last year.  The inventory is much less this year since builders have dramatically reduced their construction activity.  Most builders are selling than building, rather than building “spec” homes for sale.

If you would like to comment on this article or have a request for another topic, please email me.

Jim Krause, SFR, ABR

Certified Short Sale and Foreclosure Resource

Accredited Buyer Representative

Reece and Nichols

913-575-0042 (mobile)

Email:  This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Web:    www.jimkrause.reeceandnichols.com