Fast rising interest rates have caused an upheaval in the real estate market, as the Fed raised rates home sales have slowed and it is creating a unique opportunity for buyers. However, many buyers are getting hung up on the higher interest rates.Marry One These Houses Here are a few small things to consider, historically rates have averaged in the 6% + range. The low 3% rates were a historical low that was brought on by the Great Recession and we may never see rates that low again. Date These RatesOne thing you may consider is starting with an adjustable rate that is fixed for 5, 7 or 10 years, those rates are currently in the 4's and remember you can always refinance the next time that rates come down.Use our simple philosophy : Date the Rate, Marry the House! 09/07/2022

Since the begining of the Pandemic in March of 2020 we have seen several major changes when it come to purchasing a home. With extremely low interest rates and a desire to create a sanctuary to feel safe during Covid-19 home sales and prices took off, creating the greatest sellers market ever. Well, finally after 2 1/2 years we are finally seeing signs that this runaway train real estate market is coming back to reality.  With inflation on the rise the Fed Chief started raising interest rates and that has led to a slow down in sales as the cost of financing a home has priced many buyers out of the market. While most buyers have fixated on the interest rates, they have lost sight of what they have gained. Here are the 3 main reasons why now is the best time buy.Bidding Wars - Over the la... 09/07/2022

There is new way to sell your home in Johnson County Kansas and in recent months companies like OpenDoor and OfferPad have been bombarding the airwaves and local mail boxes with offers to buy your home for cash. These companies are part of a new trend call "iBuyers" or "Instant Buyers".Instant Buyers will make a cash offer on your home generally within 24-72 hours. For many home sellers this can be advantageous if your situation requires a quick sale or if you have a home that may be in need of extensive repairs. You get to sell your home without having to go through the typical steps of having to get your home ready for the market and get to forego all of the showings that come with selling in the traditional manner.For those of you who are not sure if you want to pursue this avenue th... 12/20/2021

This is a picture of my first home, I purchased it in Denver Colorado in 1993 and I paid a whopping $67,000 for this 2 bedroom 1 bath brick bungalow west of downtown Denver. I was 23 years old and didn't have a clue of why I wanted to buy a home, it just seemed like a good idea. It turns out that good idea completely changed my entire financial future. I kept the home until 1998 and SOLD it for $149,000, an $82,000 increase in value.  Over the next 7 years I owned multiple homes in Denver and kept gaining equity through home ownership.Click Here to See My First Homes Zillow Zestimate, You will be ShockedIn 2005 my wife and I chose to relocate to Overland Park and the equity gained from our homes in Denver allowed us to build our dream home, a home that we have lived in for 15 years and ... 08/23/2021

Starting over again as an experienced agent in a new market isn't easy and sometimes it requires explanation. I know experience matters and people have choices. So, I've put together this timeline that outlines my background as a Realtor. As you can see, it's been almost 20 years since I first began my real estate career and aspired to make it a success. I did just that, and actually exceeded my own wildest expectations. I am proud of my past achievements. Fast forward to today, while starting over, I'm not driven by achieving the highest sales volume, but instead I'm just focussed right now on doing the best job I can for the clients who provide me opportunities to assist them and entrust me with their lifestyle transition. I'm not the most "established" Realtor in town, but I probably... 06/15/2021

Mike Russell & Associates currently has 5 New Listings Coming Soon to MLS and there are an additional 306 homes currently in Coming Soon Status for Johnson County.So what really does Coming Soon to MLS really mean? These are homes that are putting the final touches on before hitting the market, maybe some fresh paint or some new carpet waiting to be installed?  Why should you care about Coming Soon to MLS Listings?More: Most up to date home searchIn a low inventory market when home most homes are selling within the first 24-48 hours you can get a list of homes in advance. This gives you the opportuunity to research the homes, the  neighborhood, schools and everything that is important in your home search. This way you can eliminate homes that don't meet your needs and truly focus on the... 04/26/2021

Mike Russell & Associates Spring 2021 Guide to Selling your Home In Johnson County Kansas is Now Available, completely updated with all of the information you need to get your home SOLD for top dollar this Spring.Click Here to Download your Free Spring 2021 Guide to SElling Your Home in Johnson County Kansas Are you also Buying a New Home This Spring?Click Here to Download our Spring 2021 Guide to Buying a Home In Johnson County Kansas Having Trouble Finding your Dream Home online? Try our Home Search, update every 15 minutes or less. Click Here  04/24/2021

The Spring 2021 Edition of Things to Consider When Buying a Home is now available. Completely Updated with all of the information you need to be a home buyer this Spring.Click Here to Download your Free Copy       Are you also a Home Seller? Find out why this is most likely the best sellers market ever!Click Here to Download our Free Seller Version  Wonder where all of the great homes are?Click Here to Visit the Most Up To Date Home Search  04/24/2021

Beep, Beep, Beep is the sound as the Brinks Truck backs up to the seller's home with every dollar you can beg, borrow or steal. You just made an offer that that says I am doing everything in my power to get this home, your offer most likely included an AS-IS addendum stating you cannot ask the seller for repairs no matter what the home inspection discovers and an appraisal waiver stating that you cannot renegotiate price even if the banks appraisal is lower than your offer.So is this the winning hand or is it an overreaction to the current market circumstances? With inventory of available homes down by 64% you will most likely be competing against other buyers for any desirable home on the market but is this the only way to win a bidding war?  This is where the Buyer's Agent you hire ma... 04/23/2021

So you just offered on your 5th house, your offer was $50,000 over list price, you agreed to take the home in as-is condintion and even agreed to make up any shortfall if the home doesn't appraise for what you offered. What was the response? Did you get a response? So many buyers are making offers and finding themselves nowhere near the front of the pack, what you may need to consider is looking for a better time to be a buyer? It is currently April 2021 and there are probably 100 words I can use to describe it and many of them are not fit for public display. But if you are currently trying to buy a home you know those words well. More: Find your Dream Home HereSo what is the answer to getting yourself to the front of the line? Is it offering even more money? Is it   your beautifully wr... 04/19/2021

In early January we received the December Market Report for Home Sales from The Kansas City Regional Association of Realtors (KCRAR), most of the information showed a somewhat flat market compared to the year prior except for 1 number. Well, that 1 number was how many available home there were for sale compared to last year. In turns out that we actually had 54% less homes available to sell. As new homebuyers started to come into the market it quickly became apparent that finding them a home that meets their criteria was going to be a challenge. Forward 3 months and the the inventory situation has gotten worse while bidding wars and price escalation rules the market. Right now buyers are begging for new homes to hit the market but no relief seems to be in sight?One hope of many buyers i... 04/13/2021

We have been seeing a declining number of available homes for sale for several years now but in January of this year those numbers sunk to the lowest levels in history. Comparing the number of available homes this year vs last year at this time there is an over 50% decrease.This is very troublesome as we head full on into the traditional Spring and Summer selling seasons. This severe lack of inventory has created a panic like frenzy amongst would be buyers to secure new listing as they hit the market.More: Find your Dream Home NowThis frenzy has created multiple offer bidding wars on most new listings as they hit the market. This has also led buyers to extreme measures when placing their bids. "They say that desperate times require desperate measures", well those measures now include of... 03/29/2021

In December something changed in the real estate market, it is something that had been present for a while but in December it entered the extreme territory. If you have been searching for a home, you already know what it is. It is an unprecedented lack of available homes. When our local MLS released the end of December statistics we realized that the number of available homes had decreased by 54% over the previous year. This severe lack of inventory has left buyers frustrated and on edge trying to find a suitable home. This has also led to bidding wars that are pushing offers way over the asking price.This lack of inventory is creating a ripple effect that may actually be the biggest part of the problem. There is a large pool of potential sellers who are not engaging in the market due t... 02/18/2021

Want Golf Course living? Want maintenance free? This is your opportunity as these Falcon Valley Patio Homes don't come up for sale often.  The perfect combination of indoor and outdoor spaces, you will absolutely love this property.You can see all of the photos, property information and price at  http://19714w100th.Info Ready to take a look? Call 913-523-6427 for a private showing!  11/19/2020

It's a beautiful day in the neighborhood here at Southpointe, a Summit Homes Community in Overland Park. While I sit at the model home and have discussions with visitors, here are a few of the benefits we've discussed about owning a new Summit home. You don't need to sell your current home before you build. You will not have to make a mortgage payment until your new home is complete. You do not need a 20% down payment to build. You can build with a fixed price and no surprise costs You can choose from a variety of lots You select the floorplan that best suits you and design selections to fit your budget and taste. You do not have to worry about supply and demand that results in a bidding war and drives up the price of your new home. You will have a 1, 2 and 10 year builder warranty for ... 11/02/2020

Johnson County KS Homebuying ProcessYou may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around for a Johnson County home, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this. In my thirty years of helping homebuyers, I have never not recommended that a Johnson County KS homebuyer discuss financing with a reputable lender prior to home shopping.  And, obtain a pre-approval letter which is more important now that ever. According to a... 10/06/2020

The Lenexa Farmers Market may be one of the smaller ones in the Kansas City Metro, but with quality vendors who participate it is worthy of a visit. Living the low carb lifestyle, I make a special trip and drive 20 minutes to purchase yummy baked goods from Three Bears Bakery to get me through the week. You will also find fresh vegetables, fruit, meat, eggs, baked goods, flowers, body care products and more! Everything at the Lenexa Farmers Market is locally raised, grown or made within 250 miles. Each Saturday and Tuesday during the Market season, you can expect a great selection of products from vendors who care about providing you the very best.2020 Season SATURDAYSMay 16–Oct. 31: 8 a.m. to noon(First hour reserved for at-risk shoppers)TUESDAYSMay 26–Sept. 1: 9 a.m. to 1 p.m.(First h... 08/28/2020

Traditionally, housing developers in Overland Park and the Kansas City Metro have made it a point to adorn the various neighborhood entrances with statues or ornate monumental signage to differentiate.This is a community was also planned with a grid system in mind, so every few blocks on one of the main streets you will see a different landmark where a new neighborhood starts. In my travels, I saw this guy welcoming me into the neighborhood at 78th and Nall, a friendly reminder to wear you mask!  08/21/2020

What a great service that is being made available to Overland Park residents! For FREE! Homeowners who live west of Antioch and have unwanted items like appliances and furniture, can use this opportunity to get rid of them. The pickup is scheduled over four Saturdays.September 19: North of 99th Street/Terrace September 26: 99th Street/Terrace to 119th Street/Terrace October 10: 119th Street/Terrace to 135th Street October 17: South of 135th StreetFor more information on Bulky Item Pickup, visit https://bit.ly/2meSyG8.To double-check your pickup date, just enter your address in the search feature! Want to know what items you can leave out? Browse the full list of accepted items!In other communities where I have lived in the country, this is not a free service, or you have to haul your st... 08/19/2020

Do you keep losing bidding wars on your new home purchase? Well, there may be a good reason why the seller chose someone elses offer over yours. In the world of hyper competive offers, sellers are looking at the cleanest offers first and disregarding offers that have way too many clauses or contingencies.More: Find Your Next Home HereIf you have been offering on homes with no success you may want to eliminate these 3 things from your offer.Closing costs-  Are you asking the seller to make a contribution towards your closing costs?  Buyers who can't pay their own closing costs are seen as a risk in the sellers eyes. While you can make your offer higher to account for the closing cost request, the raising of the price can create appraisal issues down the road. Unless closing costs paid by... 07/15/2020