3 Bedroom Ranch Home For Sale in Prairie Village, KS!!

If you're looking for a home in Prairie Village WITH a full, dry basement, then this is the one for you!! 

Priced at $160,000

Bedrooms:  3 Bathrooms:  1 Garage:  1 County:  Johnson Property Type:  Single Family Home Year Built:  1955 MLS Number:  1840411 Property Description Great 3 bedroom home with super clean dry full basement! NEW roof, NEW windows! Great updated bath! Living Rm has large picture window & beautiful hardwood floors. Newer stainless steel appliances in Eat-in Kitchen w/lots of cabinet storage & counter space. Wide driveway for 2 cars leads to extra deep garage w/access to large fenced backyard.     This cozy 3 bedroom Ranch is perfectly nestled in PV...close to schools, shops, restaurants, and more!   The Living Room greets you as you walk in with it's beautiful hardwood floors, large picture window and fresh paint.     The Kitchen is just past the Living Room...complete with tons of cabinet space and newer stainless steel appliances.  Enjoy your morning coffee or read the paper all with your kitchen comforts within reach. As you walk through the Living Room, you'll notice the clean hardwood floors continue down the hall.  The Bathroom features vanity, sink, and tile upgrades...carefully selected to please even the pickiest Buyer.  The bedrooms are ample sized, with enough space for a full bedroom suite or to serve as your home office or craft room.    The basement is accessed through the garage, which is conveniently attached to the house.  Walk down the stairs and you'll find one of the cleanest dry basements we've seen in Prairie Village!  Plenty of shelving space for storage and a separate space for laundry.    And don't forget the backyard! With a patio slab large enough for grilling and entertaining, there is still plenty of yard space for the kids, the family dog, or a square foot garden.  Whatever your outdoor passion is, this yard can make it possible. If you are interested in seeing this house or want to learn more about others in the area, please call/text us at 913-787-1870 or visit us at pickettpropertygroup.com.  We'd love to help!

Home Buyer Tips: Get What You Want

Finding a great agent who can help you narrow your focus can go a long way to getting exactly what you want?  PRICELESS!

1989 vs 2011...Now really is the time to buy

The affordability of homes is lower today than it has been in years...and to top it off, mortgages hit a historic low in 2010 and continue to remain at relatively low levels.  Take a look at this chart to help put things in perspective:

The cost of a loaf of bread and a gallon of gas has more than tripled since 1989 and car prices have nearly doubled.  While the median price of a new home has increased by 70%, mortgage interest rates, which stood at 10% back in 1989, are now less than half of what they were back then.  The impact of today's super low interest rates is that the monthly mortgage payment on a median priced home in the US has increased by only $4 since 1989.

Unless a buyer is paying cash, the monthly payment tends to be a far more relevant number than the home's actual purchase price.  So for buyers waiting for home prices to hit the floor, pay attention...the possibility of a slight drop in the price of a home will have very little impact on your monthly payment, while even a slight rise in interest rates (a more likely scenario) will have a huge impact on your finances.

Timing the market is never possible and in today's market, staying on the sidelines is more likely to result in a missed opportunity than a small savings.  Buy now so you can look back and say, "I'm glad I did" rather than "I wish I had."

If you're looking to buy or are ready to put your home on the market,  email, text, or give us a call. As a resident of nearby Grey Oaks, Pickett Property Group is your Western Shawnee expert.

Top 10 Most Common Home Inspection Concerns

Buyers and sellers may think that their home is unique, but more often than not, home inspectors find that most home defects are very similar.  Below are 10 common home defects that inspectors can typically identify.  And it's a good idea to familiarize yourself with them, so that you can start planning ahead for repairs or work you may have to do if you are on the buying or selling side.

1. Poor Drainage:  Inspectors will review whether water moves away from the house properly and/or whether the roof needs new gutters and downspouts. They will also check to see if ground-level drainage systems have been properly graded.
2. Faulty Electrical Wiring:  If electrical wiring hasn't been properly installed or grounded, a home may be susceptible to fire and inhabitants may risk electrical shock.  If you are looking at an older home, you will find they often need electrical upgrades, including new wiring and circuit breaker panels.
3. A Leaking Roof:  Leaking roofs often result from poor flashing or aging shingles and roofing materials.
4. An Aging or Defective Heating System:  Older heating systems may require maintenance and/or may be energy-inefficient.  Non-electrical heating systems also run the risk of emitting carbon monoxide fumes, so a carbon-monoxide detector may be recommended.
5. Poor Maintenance:  A DIY seller's "bandaid" fixes to plumbing, electrical, or other problems can sometimes do more harm than good.
6. Structural Damage:  A leaking roof or settling foundation may mean doorways, walls, and support beams are off-kilter.
7. Plumbing Problems:  Inspectors look for faulty pipes and fixtures, and also look at whether plumbing parts or made of compatible materials.  Leak-prone polybutylene (PB) plumbing pipes may have to be replaced.
8. Water Seepage Through Windows and Doors:  If there is evidence of water damage, then re-caulking windows and doors, adding weather-stripping or other more extensive repairs may be needed.
9. Poor Ventilation:  Installing ventilation fans and keeping windows open can help, but buyers may find that they need to replace walls or other structural aspects of a home.
10. Hazardous Materials:  Older homes may contain lead-based paint and asbestos materials.  Depending on structure and climate, homes may also contain unhealthy levels of carbon monoxide, radon gas, or toxic molds.

Home Buyer Tips: Low Down Payment

Good news!!  If you are a first-time homebuyer, you may not need a 20% down payment.  According to a recent survey, nearly 75% of first time buyers only put down 3.5% or less.  Of course, with interest rates still low, now is a great time to buy!  Contact your mortgage professional for your situation; then give us a call to help get you started.   Check out this video for more info:

The Real Estate Market in 2011

Everyone is wanting to know what is going to happen in real estate in the new year.  Unfortunately, there is no way to predict one way or another, but there are signs out there indicating that the market is improving.  Take a look at these recent statistics:

According to the National Association of Realtor, pending home sales rose 3.5% in November.  Based on trends from the 5 months prior, this is indicating a gradual recovery into 2011.  Affordable housing and the improvements in the economy are bringing buyers into the market.

The 30-year fixed-rate mortgage is forecast to rise gradually to 5.3% around the end of 2011; at the same time, unemployment should drop to 9.2%.

Existing-home sales are projected to rise about 8% to 5.2 million in 2011 from 4.8 million in 2010, with an additional gain of 4% in 2012. The median existing-home price could rise 0.6% to $173,700 in 2011 from $172,700 in 2010, which was essentially unchanged from 2009.


New-home sales are estimated to rise 24% to 392,000 in 2011, but would remain well below historic averages, while housing starts are forecast to rise 21% to 716,000.

While I can't guarantee any of these expectations, I can guarantee that if you are a motivated seller or buyer, WE are your motivated Realtors.  Pickett Property Group is in this business to move houses...whether you are buying or selling.  We will help you achieve your goals.  Contact us today!

Rising Rates Will Impact Home Affordability

Buyers who have been waiting for that perfect deal on a home are now finding themselves in a more costly predicament.  Record low interest rates over the past few months have made it the best time to buy a home in the fifty years...unfortunately, it doesn't look like they are going to hang around much longer.

Those who “choose to wait until prices come down more” are gambling that interest rates will hold steady or drop. However, the truth is even a 10 percent drop in home prices is nullified by a 1 percent increase in interest rates. The figure below illustrates how this works for a $250,000 home purchase and the relative likelihood of each scenario.

When thinking about which is more likely: an increase in mortgage rates or a further drop in home prices...consider the findings below based on the last ten years of monthly home price and mortgage interest rate data:

1.  A one percent increase in mortgage rates is ten times more likely to happen than a ten percent drop in home prices.

2.  A one percent rate increase more than offsets a ten percent reduction in home prices.

3.  When interest rates fall by one percent, the total interest paid is almost three times more than the interest savings from a ten percent drop in home prices.

4.  The probability of both happening at the same time is ridiculously small, and homeowners would still pay 15 percent more in interest over the life of the loan.

Interest rates have dominated the news in recent months as we’ve shattered record low after record low. Potential home buyers need to understand the positive financial impact low interest rates have on the cost of home ownership and the thousands of dollars that can be saved over the life of a typical mortgage loan.

When you're ready to list your home or if you're looking to buy, feel free to give us a call.  We've helped hundreds of families and we'd love to help you!  Email, text, or give us a call anytime...913.787.1870 or PickettPropertyGroup.com.

Homeowners Insurance...Are You Covered?

You don't need to be a home insurance expert to make sure everything you own is properly covered.  Take a look at this breakdown and use it as a reference when evaluating your home:

Home Structure:  The price you paid for your home is most likely not going to be the amount it will be insured for.  You'll need to take a look at how much it will cost to rebuild your home...consider the square footage, material costs, and any special features you would like to add.

Personal Property:  Your personal possessions need to be protected also.  Make a list, take pictures, or make a video of all your belongings that would need to be replaced in the event of a disaster.  You may want to consider the replacement cost of these items as well.  Replacement coverage pays based on the current costs to replace that item.

Your Liability:  This helps provide lawsuit protection for bodily injury or property damage that you or your family (or even your pet) may cause...this may include incidents either on or away from your property.  Coverage depends on your policy limits, so I encourage you to talk to your insurance agent.

In addition, there are several optional types of insurance available as well...guest medical insurance, flood insurance, and more.  To see what will be the best fit for you, contact your insurance agent.

Contact Pickett Property Group when you are ready to buy or sell your next home.  We're bringing positive customer experiences back to Real Estate!

Spring into the Housing Market

I just watched the Real Estate segment on the Today Show this morning and was, once again, disappointed in their reporting.  True, the First Time/Repeat BuyerTax Credit ends on April 30th and you do need to be under contract by that date...but you don't need "super lawyer powers" to make that happen.  The best way to get a piece of that $8000 tax credit on time is to contact your Realtor.

The Today Show recommends pulling your credit annually to know your FICO score and to fix any errors.  Yes, that's a good idea but just walking in with your credit report in your hand isn't going to help when you're ready to make an offer on a home.  One of the first things we go over with our clients is whether or not they have been pre-approved for a mortgage loan.  We have several mortgage companies that we can recommend and they can easily and quickly get a client the pre-approval letter needed to make their offer more substantial.

Your time is valuable and if you really do want to beat the April 30th deadline, the last thing you want to do after work, soccer practice, homework, and dinner is spend time on Zillow researching different neighborhoods.  Again, contact your Realtor and let me do the researching for you!  Zillow, though a nice concept, does not report the most accurate information.  Your Realtor can give you the most current, up-to-date information on any area you are interested in.

Bottom line is that you don't need to spring into the housing market alone.  Contact us and we'll be with you every step of the way!