I am always amazed at how many myths there are about real estate auctions. When I meet with sellers and buyers I do my best to dispel these myths. This 10 part series will hopefully help dispel some of the most common myths that I have encountered.Myth 1 - If I buy a property at auction I will have to produce the total amount of cash on auction day. Not all auction companies utilize the same terms and conditions, so make sure as a buyer you have a complete understanding of the terms and conditions of the auction.Most public real estate auctions require a deposit on auction day, and allow 30 days for closing. The deposit will usually be a flat amount, or a percentage of the total contract price.Although the majority of the properties that are sold at auction are sold with no contingency,... 06/01/2007

My favorite coffee to enjoy while working on Kansas City Real Estate has some new blends!!Now is the time of the year for friends and family, barbecue, little league baseball and sitting by the pool and reading a book. Enhance the experience of summer with hot or cold coffees and teas prepared with passion by your friends at The Roasterie.Only the Best Get Canned:Our Limited Reserve Coffee Cans symbolize the uniqueness of the coffees within. Many of these coffees have won awards and have been reviewed as some of the highest rated coffees in the world. We are currently offering all Limited Reserve Coffee Cans at a discounted price of 20%.Santa Isabel of Nicaragua - Cup of Excellence®http://emailer.emfluence.com/r.cfm?id=1620547^144961^http://www.theroasterie.com/shopping/detail.asp?DOM=1... 05/24/2007

So you've put a contract on a home, it's been accepted.  All the negotiations are complete and now it's time to get ready to MOVE!Moving is said to be one of the most stressful things you can do in your life.With some careful planning it doesn't need to be!Start by planning your move... even if you aren't a "list" person I strongly suggest becoming one to prepare for your move.Make a list of all the things you need to do to make your move successful... successful is the key word here: THINK SUCCESSFUL!May is the busiest moving month, so if you are planning a May move get to work!  Contact a mover to come and give you an estimate or reserve a truck from a company to move with.  If you are planning on using friends to help you with this dastardly deed, give them a month's notice. Suggesti... 05/23/2007

I don't want you to think I'm NUTS and I don't want any of my readers or potential clients getting sick, so I wanted to pass along this tid-bit regarding Interstate Brands Corp. who makes Hostess Mini Pound Cake. This doesn't just effect the Kansas City Real Estate area but nationwide!Interstate Brands is recalling 3.25 oz. individual snak packages of Hostess Mini Pound Cake because of a packaging error.  Some of the packages my contain Hostess Carrot Cake, made with walnuts.The Kansas City-based company is recalling packages of the pound cake with the code date May 28 53 122, UPC #4500041159The recalled product has been distributed to retail stores in parts of Missouri, Arkansas and Texas and throughout Alabama, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Loui... 05/15/2007

I learned a couple of things yesterday that will help me in my Kansas City Real Estate adventures!Of course I try to learn something everyday, but yesterday was something that will definitely help my clients!Ever since we moved in our home five years ago we've maintained a maintenance contract with A.M. Heating and Cooling. (it was a struck of luck that we found such a wonderful provider)Some may think a maintenance contract with a Kansas City Heating and Cooling company is foolish, we find it very wise.  Regular maintenance of your a/c and heating units are essential in keeping a safe and healthy environment for your family. And you personally should change your furnace filters once a month.Mark Avinew of A.M. Heating and Cooling is amazing when it comes to knowledge, customer service ... 05/12/2007

This is just to show you that Active Rain WORKS!I received this message this morning from Mitch, through AR to my e-mail.  He's been reading my blog... SO CONSUMERS are reading AR.With Mitch's permission I am including his e-mail to me after he read my blog.Thanks Mitch...... and since you were so impressed, please give my name to all your friends and family. :)" Hey, oddly enough I came across your blog when I did a google search for the Scratch and Dent appliance place down on Front Street, but having just finished buying a house in Feb and being 2 weeks away from closing on selling my old house, I was pretty interested in your site.Wish I'd found it about 6 months ago.I just wanted to tell you that I found it very interesting and I kept saying "Right on!" to a lot of your comments ab... 05/07/2007

The City Market is found in Kansas City's River Market area.   The River MarketWhen I left Kansas City in 1986 to begin my journey in Washington, DC, I left a downtown area of Kansas City that no one really wanted to be a part of.  My how things have changed. When I returned in 2004 and began exploring all that had changed during my odyssey I was most pleasantly surprised to find the River Market area.  To give you some background, when I was growing up this area was known as the River Quay.  Translation to Kansas Citians of that era, River Quay meant "place where mafia members blow each other up".  Today it means lifestyle.  The area is alive and well with a mixture of young urbanites and people from the suburbs walking around looking at the abundance of loft conversions going on.  Urb... 05/06/2007

From the B.B.Q. Capital of the world....... one of the things that Kansas City, Missouri is FAMOUS for.... B.B.Q.McGonigle's Market was the location today for a great benefit for Midwest Foster Care and Adoption Association (MFCAA) McGonigle's Market donated $5.00 from every slab of ribs purchased to MFCAA and of course we were there!You cannot find a better place for fresh, tender meats to cook at home or purchase their smoked meats and fish if you prefer not to do it yourself.Smoke filled the air and the aroma of the neighborhood was mouth-watering!  McGonigle's predicted that 3500 slab of ribs would be sold.    05/05/2007

I've seen a lot of Buyer Incentives lately in Kansas City Real Estate....."Hot Tub Stays"  "Big Screen TV Stays".....  "My Wife Stays... she cooks AND cleans"No but seriously....... do you feel that those are really things that encourage buyers to buy that particular home?Would you buy a home just because the big screen tv stays?  I wouldn't.... the home has to be something that appeals to me in all ways not just because the big screen tv stays, quite frankly I don't like watching television. I always tell my buyers to make a list of the things they are wanting in a home and prioritize that list.It's important that buyers are getting a home that suits all if not most of their needs.  05/05/2007

I remember that day very clearly. I waited with anticipation, and apprehension for 3:00 pm to arrive. I was so excited that I arrived 10 minutes early even though I only lived 4 minutes away. The date was July 23, 2002. 68402 was the Cessna 152 I was about to fly for my Private Pilot's license exam. Aside from my wedding day and the birth of my children, NOTHING exceeds the sense of accomplishment I felt that day."Congratulations. You are now a private pilot." Those words still ring in my ear. It was the culmination of a lot of work. The direct result of careful planning, much study, learned execution and faith in the flight instructor I had hired to guide me through the process. My instructor was Felicia Barton. I've since lost track of her. But I'll never forget her. "Airspeed. Center... 04/30/2007

Tiffany Greens will be the location for the 2007 Women's Golf Expo on June 5th. This expo is for the Mercedes Benz of Kansas City Championship.For your golfing enjoyment, the membership options include benefits such as family membership privileges where appropriate, advanced starting times, Club Charge Account, Practice Areas, Playing fees, Handicap, lockers, club storage and the newsletter.Green Fees are DAILY GOLF FEESRates effective April 1 through October 31 (All fees include cart)PRIME TIMES (before 3:00 p.m.)WEEKDAY (Mon-Thu) 56.00 WEEKEND (Fri-Sun) 66.00TWILITE TIMES (after 3:00 p.m.)WEEKDAY (Mon-Thu) 49.00 WEEKEND (Fri-Sun) 56.00 SUPER TWILTE (after 5:00) WEEKDAY (Mon-Thu) 41.00 WEEKEND (Fri-Sun) 46.00SENIOR (Mon-Thur Only) 40.00  (Must be 62 years or older)RENTAL CLUBS AVAILABL... 04/25/2007

During the 1940's Swope Memorial Golf Course was home of the PGA Tour's Kansas City Open. According to the website, Swope Memboer is the only public course in the Kansas City area to have hosted a PGA Tour event.The website information says that Swope Memorial is "the premier classic public golf course. Designed in 1934 by legendary architect A.W. Tillinghast, Swope Memorial Golf Course features rolling fairways, beautiful mature trees and small undulating greens"There is a wide selection of membership options. The Unlimited Adult Pass includes Free greens fees at Heart of America, Hodge Park, Minor Park and Swope Memorial anytime. The rate is $995.00 ($50.00 Senior Discount (must be 60 or over) The Unlimited Family Pass includes Free Greens fees at Heart of America, Hodge Park, Minor P... 04/25/2007

Don't be surprised if you want a REALTOR® to list your home and they say "No Thank You."  It could happen to you if you fall into the following scenario.Last week I went on a listing appointment.  Before I go on an appointment I spend a lot of time getting my presentation packet all in order and I also spend a lot of time studying the comps (comparable: what other homes in the neighborhood have sold for) for the area.I entered this home as I always do with an open mind and the ability to visually remove the contents.This home was totally outdated (carpet, bathrooms, kitchen), it had rotten windows, it was cluttered and messy and bottom line the sellers wanted me to list it for 20K more than the highest comp.  The sellers were wanting to build a new home and the husband wasn't up for mak... 04/23/2007

About two weeks back I was interviewing a potential Buyer client.  He had found me through one of my blogs and said that he had liked what he had seen about  my real estate investing philosophies here in the Kansas City area.  I was flattered.  But I was also growing leery of his motivation.  His motivation to actually buy a property, that is.  It seemed that he had read the books I recommend along with half a dozen others.  He had been to workshops and seminars that I've never even heard of. He was  member of both investment clubs here in Kansas City.  Had an LLC.  Had an accountant. A lawyer was all lined up.  So to was a property manager.  Mortgage guys had been interviewed.  There was even someone he was considering hiring as a mentor.  And all this had only taken him three years.  ... 04/21/2007

In the past week I've been in about 23 different houses in the Waldo area.  I've identified about 5 of them that I believe would make good, long term rental properties.  Like all homes in Kansas City's Waldo area, they have their imperfections.  For those of you that don't know, Waldo is an eclectic area of the city where sloping floors, leaning garages and no garages are the norm.  The great thing for the real estate investor is that you can purchase single family homes anywhere from $80,000 to $130,000 and cash flow by putting down as little as 10%.  Further, the houses there seemingly always rent quickly.  2 Bedroom homes go from $700 to $825 while 3 Bedrooms can garner $750 to $995.  Waldo homes come in all shapes and sizes.  There are 600 square foot 1 bedroom homes and there are a... 04/18/2007

In honor of my 100th post, I'd like to announce a very special mystery guest from Active Rain on our next Kansas City BlogTalk Radio Show.Here's three clues to his identity:1.)  He is compared to Superman in that he can touch the top of the Eiffel Tower with the tip of his finger2.)  In his spare time you'd most likely find him up to his eyeballs in salty water.3.) He has the ability to drive 95 mph and take pictures at the same time. (What a gift)  Yes.... you guessed it.... Nick The Appraiserwill be the Guest on Kansas City Real Estate BlogTalk Radio Show.When:  Tomorrow, Wednesday 4-11What Time:  2:30 PM Central TimeHow Do I hear it?:  You have 2 choicesa.) You can call in and participate and ask questions (that's limited to 5 callers in the queue)     @  646-652-4268b.)  You can lis... 04/10/2007

I came across a great project that is just it it's beginnings here in Kansas City!In honor of the 150th anniversary of the founding of the American Institute of Architects they have started a program called Blueprint of America.  It's a nationwide, grassroots community service program that will empower each cities residents to participate in developing new visions for their community's design priorities.So where does Kansas City come in?  Well if you live here you know that our town is made up of sprawling urban and suburban as well as exurban and transurban areas, no different than many other cities. The Kansas City portion of this nationwide program is being dubbed "The Kansas City SNAPSHOT" and will engage the diverse people and places that inhabit the Johnson Drive / Van Brunt corri... 03/28/2007

I have to confess to you here and now that I am a numbers guy...when it comes to investment property.  I like to know what the returns will be, how profitable it will be (if at all) and exactly what my money will be doing here rather than there.  And that, in turn, is how I counsel my investment property clients.  You see, to me, owning rental property is all about the returns.  And with appreciation being one of the 4 benefits to owning investment property I thought I would discuss it here.One of the most popular questions I get is "what is the rate of appreciation for this property?"  My standard answer is "I have no idea."  Keep in mind that even the most educated real estate agent on earth cannot tell you what appreciation will be.  He can tell you what it was.  He can give you a hi... 03/27/2007

If you are one of those individuals that travels Ward Parkway on your way to and from work, you've probably noticed the new addition of trees.224 trees have been planted in the median of Ward Parkway and you can thank the Ford Family Foundation of Russell Stovers Candies for their generosity of beautification.The Swamp Oaks will turn a nice yellow in the fall and the Urbanite Ash will turn a red brick color to a orange red which will certainly brighten up your drive. In the summer you can enjoy their lush greeniness!Thank you Ford Family Foundation for adding to the beauty of our community! 03/25/2007

Finding a quality tenant for your income property can be a daunting task.  It takes proper screening, a little bit of a gut feeling, and some luck.  But when you have them, great!I manage a property for one of my out of state clients.  Both sides are Section 8 through the Independence Housing Authority.  One tenant was in when my client purchased the duplex, the other we put in shortly after his purchase.  And we got a couple of good ones.First, working with the IHA is a delight.  They are reasonable, responsive and fair.  The IHA did their annual review of the property on the east side and came up with a list of about 7 repairs that needed to be tended to for them to continue to work with us.  Little things like a slow drain, a missing dust vent, etc.  I determined the necessary repair... 03/22/2007