Category: buying a home (35)

cyber fraudBuying a home is a significant financial investment. Unfortunately, circumstances that involve a large transfer of money may also become a target for cyber fraud. “In 2017, the real estate industry will remain one of the top targets for cyber criminals because we are involved in transactions with large sums of money,” explained Chris Kelly, chief administrative and legal officer, ReeceNichols Real Estate. “Additionally, the industry has proven to be a target due to the high volume of email we send and receive.”

At ReeceNichols we are working diligently to stay informed and taking the steps we can to help protect our clients. While some of this may seem common sense, it’s important to understand just how legitimate these phishing scams may come across. In fact, we’re now asking our clients to sign a form during a transaction to ensure you are aware of these possible scams, as well as to share information on how to protect your private financial information. We have also implemented a two-step verification process to all of our email accounts as an extra security measure.

cyber fraud

WHAT YOU NEED TO DO

When buying or selling a home, you are involved in a transaction where money is changing hands – making you a potential target for cyber-criminals. These sophisticated criminals could try to hack your email account or the emails of others involved in your transaction, and direct you to send a wire to the hacker’s account. They can even send emails that appear to be from your agent, closer or other trusted source. If you receive wiring instructions, even if it appears legitimate, do not take action without first verifying the request. Always call to confirm such instructions.

Likewise, be cautious when closing with another company. Contact the closer directly before wiring any money to ensure it is the closing company you’re transacting with. Do not use a phone number or other contact information from an email. Use a business number from another source (like the closing company’s website) to make sure you are talking with your closer, not a potential criminal.

We’re always available if you have a concern. We will do our best to answer any questions you may have and can also connect you with resources if you believe you have been the target of such a scam. Contact us anytime at 913.402.2599.

Quailwood Estates

If you’re looking at Olathe homes for sale, call TODAY for a tour of our new listing at 14047 W 139th Terrace in Quailwood Estates. This home won’t last long! This large 5-bedroom/4.1-bath home is served by the Blue Valley School District, and is move-in-ready. The home offers more than 4,600-square feet of living space on a cul-de-sac lot!

Let’s hit the updates first! This home features brand new quality carpet throughout, as well as a newer HVAC (3 years old) and 2, 50-gallon water heaters (both just 2 years old). You can cross these pricey updates off your list and enjoy the efficiency benefits updated home systems provide! The home has beautiful curb appeal with stone and brick accents on the front. And if a home office is on your “must list,” you’ll be pleased with the dedicated office space on the main level with built-ins and a granite desktop with plenty of space for 2 to work!

For those who love to cook, the large kitchen layout is well-planned for everyday cooking and hosting a crowd. The newer stainless steel appliances include a double full size oven and gas cooktop. And, a large walk-in pantry will satisfy your storage needs! The adjacent hearth room with fireplace adds a cozy and welcoming feel to the space. A second fireplace is located in the great room and a third in the master suite! The large master suite boasts a separate sitting area for relaxing with a good book by the fire, as well as a nice size en suite with tile, a whirlpool tub and walk-in shower dual shower. For convenience, the laundry is located off the master with a tile floor, cabinets and counter space for folding!

The fully finished walkout basement is set up to host game nights, watch parties or a movie! A custom built media center offers lots of storage, as do built-in shelves along one wall. A full bar is in place, ready to serve your guests food and drink from the counter with room for seating. A sink and space for a tucked-away full-size fridge make it easy for you! The fifth bedroom and a full bath are on the lower level, and there’s another room that’s perfect for a playroom or workout space!

Ideal Olathe Location

Spend time outdoors with friends and family on the level treed lot. A deck and patio are ideal for entertaining! And, in-ground sprinklers support lawn maintenance. Cool off in the neighborhood pool on warm sunny days! Located near 143rd/Plufmm, this home is just minutes from area amenities along the 135th Street and 151st Street corridors.

Call Majid to set up a showing at 913.980.2434. You can always reach a member of Bradshaw Group at 913.402.2599. Thanks for looking!

find a lenderSo, you’ve decided to buy a new house and are eager to get out and start looking. That’s fantastic and we hope to have the opportunity to help guide you! But in all honesty, there are a few things you need to do before you begin a serious search, and one of them is to start on your financing. This is a biggie – especially given the current market conditions.

Inventory across Kansas City is super low and demand is high. This is putting many buyers in competitive circumstances. In this environment, sellers are less likely to accept a contingent offer. So, you need to have your house sold or at the very least listed, if you are not in a position to buy without a contingency. Sellers are also not going to consider an offer without a preapproval letter. This will be provided to you by the lender you select.

KANSAS CITY LENDERS

We work with a variety of lenders on a regular basis. If you need a couple of referrals, we can help with that. We recommend our buyers talk with at least two lenders before making a commitment to ensure you are getting the best loan package for your needs. Overall, you’ll probably find rates to be very similar. So, what you need to do is look at the details – pay attention to different fees that might be part of the deal.

We get that this isn’t the “fun” part of buying a home, but trust us that this is really important right now! When you’re out touring homes and walk into “the one” you want to be able to put your best, most solid offer forward. And with homes moving quickly, there isn’t a lot of time to get all of this together before submitting an offer. Unfortunately, there just isn’t a lot of give on these terms right now. A clean, strong contract is key and we have lots of experience presenting offers and managing the negotiations that follow.

What might seem overwhelming to you is everyday business for us. We have lots of trusted contacts to get the finance piece rolling for you. And we are well prepared to get your home market-ready and listed fast! Bring us in the loop early and the whole process will be much easier and less time-consuming for you. Call us to schedule a meeting TODAY at 913.402.2599!

That’s the plain truth. Our team is blessed with a strong network of clients and referral partners that make our world go round. See, when you send a referral our way not only is that great for business, it’s also a huge complement. It means we have met (and hopefully exceeded!) your expectations to the level you’re willing to refer us to someone close to you.

referralsOur goal is to provide every client with the very best service. So, over the years we have invested in a robust team structure to ensure we can continue to provide top notch personal service to you. Every real estate investment is a major milestone and we are honored you choose to work with us time and again.

If you haven’t worked with us yet, you should know our team has a big love for this city. We have a rich Kansas City history and are always available to share our tips for favorites around town or to connect you with vendors we know and trust. When you need an electrician, family photographer or something in between, we’re here to help. So, please reach out anytime!

Staying Connected

We enjoy staying in touch with you through social media, community functions and events we host during the year. Some of these events, like our Royals outing, happy hour at Pinstripes and our client appreciation and pie event, are our way of extending our thanks to current-year clients and referral partners. Other events like our annual bracket contest/Tanner’s happy hour and our NEW Santa event are open to all!

Thank you for trusting us with your business and referrals. Our success stems from you, so these events are especially fun for us! It’s a great way to catch up and share our thanks for the support you lend our team. With that, we hope to see you at our Santa event December 10 for cookies, cocoa and a FREE professional photo with St. Nick!

 

For starters, no one likes to think about interest rates going up. Or home prices for that matter. But, you’ve probably seen headlines indicating as much for both topics. We’re certainly hearing a lot about it in our real estate world! At the end of the day, what you need to know is what this means (or could potentially mean) for you.

interest ratesA shift in rates is most significant if you’re considering a real estate purchase soon. Buying a home is a huge decision – whether it’s your first home or the next step in your real estate journey. It’s not something you want to rush and it needs to be planned in line with your life needs and budget. That said, if you’re close to pulling the trigger and holding off, it could be to your advantage to act now.

Buyers in recent years have been able to purchase more home for less money, thanks to historically low rates. When rates rise, buying power goes down. To give you an idea of what this looks like, we reached out to our friend Adriana with Bates Mortgage Group to provide an illustration of the money-side of the transaction.

This calculator lets you plug in numbers to see how a rate increase impacts your monthly payment. Your payment is a big deal. So is your buying power. When we’re talking about buying power, we’re talking about how much house you can get for your money.

For this example, Adriana assumed a monthly mortgage of $1,050 (including taxes and insurance). This illustration also assumes:  you have a down payment of $10,000; your property insurances/taxes will be about $2,500/year; minus your taxes and insurance you can afford to pay about $841 per month in principle and interest.

Scenario 1:  3.5% interest – you can afford a mortgage of about $187,434

Scenario 2:  5.5% interest – your mortgage drops to $148,235

Scenario 3:  7.5% interest – your mortgage limit goes to $120,373

So, between 3.5% and 7.5% interest, you stand to lose approximately $67,000 of buying power! No matter what stage of buying you are at, that’s significant.

The Kansas City real estate market tends to follow the seasons. Once you reach this point in the year, buyers often put a search on hold (or wait to start their search) until spring. And by spring the past couple of years, we’re talking early February! This is just a difference of a few months. A few months that could make a large difference in your overall financial and real estate goals.

If you would like market data for homes in your target area, or just want to meet for coffee and talk scenarios and numbers to get a feel for what might be best for you, call us at 913.402.2599. We’re always here to help!