Joplin’s Zoning, JHAP, Flood Maps and More

Previous blog was out of date.  For information on zoning, click here for my latest post about zoning.

 

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Joplin Area Real Estate Market Conditions

As an informed consumer, before you buy or sell a home you might want to investigate the market conditions.

According to the National Association of Realtors the median price of a home, $217300, was up 4.9% in 2014 from 2013. How does that compare to our real estate market in Joplin and the surrounding area? The Ozark Gateway Association of Realtors reported that in December of 2013 a median price home in our area was $83,000, but this December the median price is now $90,000. That is almost a 9% increase. So while the median home price in Joplin is lower than the national price, our housing market is also on the rise.

Great news for home sellers, but don’t worry if you are looking to buy because the news is good there also.

Market Trends reports that this will be a great year for home buyers with more inventory expected and continued low interest rates. They even think that the lower gas prices will have a positive effect on the housing market.

On the local level, we still have lots of JHAP funding available. Kristy Baugh at the JHAP office reported that we still have close to $6 million in JHAP funds available!

Sounds like a happy new for everyone!

If you want to learn more about what your house is worth, find out more about buying a house or get more information about JHAP, just give me a call, 417-825-0142.

Thanks to everyone who helped to make my 2013 a great year and best wishes in 2014.

Affordability in Housing

Is housing affordable?  Is now a good time to buy a home?  Sell a home?

For all you people who love to have the numbers to back up your decisions, let me help you out.  In the Vision Statement presented at the Keller Williams Family Reunion in February, comparisons were made between the cost of these basic items: breaduntitled, gasgas, carscar,and homes.  house

They looked at the 1989 cost, the based on the inflation rate cost, and the actual 2013 cost.

         Presentation2

It looks like most of the items that we need in are daily life costs us more and more.  But while the cost of all these staples went up; the monthly housing payment went down. 

The good news for homes sellers is that the value of your home did go up. 

The good news for home buyers is that a monthly house payment is significantly lower than expected when we look at the inflation rate..

Looks like buying a home is a great investment.  Please give me a call if you have any questions on the value of your home or if you are looking to buy a home.

WHAT IS A BUYER’S AGENCY AND DO I NEED IT?

What is a buyer’s agency and is it an advantage to me?

A Buyer’s Agency is a legal agreement that states that you are working exclusively with a realtor for a specific period of time to find a particular piece of property. It also states that the realtor is working for you, not the person who has the house listed.

So what are the advantages to you the buyer?

  1. Realtors agree to abide by a specific Code of Ethics.  In fact I am required to take a Code of Ethic class every 3 years. This code states that I am honest and hold the client’s interest above my interests. My fiduciary duty is to you my client.  Not to be taken lightly, the Missouri Association of Realtors has penalties for realtors breaking the code that include suspensions and fines.
  2. Realtors have a great knowledge of the housing market.  This is what I do.  I study the market so that I understand different neighborhoods, housing styles, and home features.  I also know zoning codes.  But importantly, I know housing prices. I even have knowledge of homes that are not on the market but may be available for sale.
  3. Realtors are great negotiators.  It can be very helpful in negotiations to have a realtor.  The buyer does not have to be influenced by the seller’s emotions during this period.  Since I have a contract to work for you, I am obligated to you to disclose everything I found out about the property that can affect the sale and influence the price.  I also negotiate repairs that need to be done prior to the closing.
  4. Realtors have a network of professionals that make the home purchase successful.  I have a great working relationship with people in the home inspection, title, home repair and home loan industry.
  5. Realtors have to be meticulous about their paperwork.  I am required to have all my paperwork complete before I get paid.  I save this so that I can provide you with any copy that you may need in the future.
  6. Having a buyer’s agency is a great way to make the stressful situation of buying a home way less stressful by taking care of everything you need to buy the home of your dreams.  I also let you know each step of the process so there are no surprises.
  7. But the best reason is that with a buyer’s agency, i am working for you not the home seller in the purchase of your home.

Are Rents on the Rise?

rent

For Rent

The National Association of Realtors says that commercial real estate rents are on the rise nationally.  Our local TV station wanted to do a segment on how this national trend compared to our local market.  The news director, Stuart Price, at KSN suggested to reporter Melanie Hounker that she contact me, which she did.  So on Tuesday when I woke up, my mind was on all the things I had scheduled for that day.  Top on the list was cleaning the house for a book club meeting that night. But since Melanie was so nice to ask me, I agreed to help her with the segment.  I mean how bad could it be? So, after talking to several other knowledgeable realtors, I felt I could contribute to this segment about our local market.

Joplin has an extremely unique market due to the May 2011 tornado that wiped out much of the Joplin real estate.  Fortunately, Joplin is rebuilding many residential and commercial properties.  Unfortunately, new construction costs can be very high.  We can also blame the tornado in part for increased insurance rates.  Of course, taxes and utilities have also been on the rise.  Mix all this together and you get increased rents that do not benefit the renter, but also do not add to the profits of the landlord.

However, there is really good news in real estate.  Plenty of local homes on the market and interest rates continue to be at a very low rate!

And if you caught my interview on the nightly news, well what can I say except I come across way better in person!  So give me a call and let me help you with your real estate needs.

A bi g thanks to OGAR Association for today’s Realtor Summit.  OGAR, our local realtor board, together with USBank featured at the summit David Wallace from Wallace Bajjali.   This is the company that is providing the master development plan for Joplin’s rebuild effort.

I was excited to hear of the direction the rebuild effort is taking.  The city leaders in Joplin and CART are taking the tragic event of the tornado and using it as an opportunity to make Joplin a progressive thriving community that we can all be proud to call home.

They are doing this by addressing two major concerns of the citizen of Joplin.

  1. Have a community with good paying jobs.
  2.  Have a community with a variety of things to do.

Now who doesn’t want to live in a town that has that going for it?  If you would like more information on becoming a home owner in the area, contact me!

29 Acres in the Heart of Joplin

Though Joplin has plenty of vacant land in the middle of town, it is hard to find a large tract of land right in the heart of our town.  That is until now.

On the SW corner of Junge and Maiden Lane sits 29 acres.  This property was the previous home of Moore Manufacturing, a company that made concrete culverts.  But now it is for sale.

The possibilities for this piece of land are endless.  It has the least restrictive zoning so any industry could go in there. It is bordered by city maintained roads. It is also close to shopping and is right next to a residential neighborhood, so it would also be a prime spot for a residential project.

If you have a project that needs plenty of space, this is the piece of land for you. Check this out on my website or give me a call.