Kansas

The newest statistics from RealtyTrac.com shows that Kansas is ranked 34th in the number of foreclosure listings for the 2nd Quarter of 2008. This is great news that we are not at the top of the list however we only have 16 states that rank below us. Kansas had a total of 1961 filings:

• These stats show that 1 out of every 616 houses were affected in Kansas. This was a 40.47% increase from the 1st Quarter of 2008, 131.25% increase from the same time frame last year.

• Wichita was ranked 86th in the top 100 metro areas with foreclosure listings with 548 properties with listings with 1 out of every 466 households being affected. This is a 56.13% increase from the 1st quarter of 2008 which is a 122.76% increase from the same time frame last year.

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If you are having trouble paying your payment every month I offer a little advice:

• Contact your lender immediately and ask if they have a financial hardship assistance program. With this program you might receive new payment plan options, get your interest rate modified, or get your payment modified. Believe me the last thing your mortgage company wants is for you to foreclose on your home. The sooner you call them, the sooner they can try to help you make your payments more affordable.

• Contact the Federal Housing Administration. They have a new Hope for Homeowners program effective from October 1, 2008 thru September 30, 2011 that is designed to get you into a 30 year fixed rate loan if you qualify. You can contact 800-569-4287 to find a HUD-approved housing counseling agency.

• Speak to a REALTOR. You may be able to sell your home and get your mortgage paid before it goes into foreclosure.

• Be aware of anyone who calls you on the phone saying they can help you. Households facing foreclosure are targeted by scammers.

• Never sign anything your don't completely understand without having it reviewed by your attorney.

This is my personal weblog. The opinions expressed here are that of my personal opinion and have nothing to do with my employer. I make no guarantees that this is accurate past the day I post it

"it's where we live and work helping home buyers and sellers...
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Hinton Homes

Wichita Homes for Sale-Zero Down Home Loan Program Still Available!

If you are looking for a Wichita Area or Andover Home for Sale, there is a fantastic loan program from the United States Department of Agriculture called the Rural Development Loan. This program for Wichita Area or Andover homes for sale does not require you to make a down payment so you can get 100% financing on your Wichita or Andover home loan.

The home itself must be located in a qualified area. You can check to see if the Wichita area or Andover home for sale you are interested in is in the area that would qualify for this program by going to the website at http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?NavKey=home@1

The website will also give you detailed information about the program. As an professional Wichita Realtor I work with a Reputable lender who has used this program with other clients. When you work with me to find your Wichita or Andover area home for sale, you work with a professional team committed to your success. You can call or email me with any questions you may have!

I just want to say that I am very proud to be able to say that I have never put any of my borrowers into a A.R.M. loan and I am sure I probably won't in the future either. As far as I am concerned these loans should not even be allowed, especially for first time home buyers. We just don't know what the interest rate could go up to in the future or how the borrowers payment could be affected. I for one do not want to be responsible for anyone losing their home just because their payment went up. Some people say "well I will just refinance in a few years." For those people I say:

• Can you guarantee me that you will be making what you are making now, or even more, in a few years? What happens when their rates jumps and thereby increasing their payment and you can't afford it anymore?

• Can you guarantee me that you will not have an unplanned emergency in the next few years, and if you do will you have the money to do what you need to do to keep afloat financially?

• Can you guarantee me that your credit will not go arise because of a unplanned emergency, because if it does you might not be able to refinance your home, therefore taking the chance on losing your home?

Not one of my past borrowers has ever answered these questions and still requested a A.R.M. Loan.

Maybe some people feel comfortable in a A.R.M. Loan and I am glad to hear they are happy however I really feel like they have been used to often to get people into purchasing a home when maybe they really weren't financially stable enough to own a home.

Why do we even have A.R.M. Loans? It seems to me all they do is cause chaos with for in the real estate markets. Does anyone have anything positive to say about A.R.M. Loans?

This is my personal weblog. The opinions expressed here are that of my personal opinion and have nothing to do with my employer. I make no guarantees that this is accurate past the day I post it.

Leawood, KS Real Estate Market Conditions

Leawood had 242 homes sell and close in the last 6 months, counting all homes and price ranges, including existing homes and new construction. There are 351 Single family homes listed for sale in Leawood giving a 8.7 month supply of homes based on the current rate of absorption.

Upper Bracket Homes in Leawood $500,000+

Upper Bracket Homes in Leawood accounted for 60 of the recent six month sales, based upon most recent listing price. There are 187 homes listed for sales in the $500,000+ range, which means the market is still overcrowded in that price range with a roughly 18.7 month supply of homes. Seller's should review their house's condition and curb appeal. If you have been on the market more than 30 days, talk with your agent about how the house could be presented better. If you don't need to sell, this may not be the ideal time to test the market.

Leawood Homes $200,000 and under : Strong Seller Advantage

More on Leawood Real Estate Market

When Buying or Selling a home in Leawood Kansas, be sure to contact local real estate agent Ken Jansen REALTOR at 913-908-2215 or KenJansen@TopProducer.com

Ken Jansen CRS, ABR, ePRO, CLHMS, CSP,

Broker Associate Keller Williams Realty Partners, Inc. Overland Park KS