Home Buying in 66223>Question Details

Srini, Home Buyer in Overland Park, KS

I am interested in buying a home in next 2 or 3 months and this would be our first home and we dont have any

Asked by Srini, Overland Park, KS Fri Feb 29, 2008

agent yet. We like overland park area. Where should we start looking for? And what is average cost of the home with 4 Bedrooms, 3 bath and 3 garage? How much can we expect seller can reduce the cost on asking price? Any info would be appreciated.

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Srini, you aren't Srini Srinivasan are you? I recently worked with some Srinivasans who purchased in The Wilderness in Overland Park. They had mentioned a relative who was looking. Anyway, back to your questions: First, nice choice on Overland Park. This area is great for raising children, has super schools, and is affordable. The first step would be to align yourself with a great lender. I have some suggestions there. Get pre-approved to see what your financial limits are. The lenders have formulas which will help you determine your purchasing price range. For a 4/3/3-car garage, you will be in the $250,000 to $500,000 range, but that is not the most important thing. A great agent will sit down with you and determine YOUR NEEDS and not YOUR MAXIMUMS. With regard to your question on seller concessions, the truth is that it depends. Some houses are priced right and show ready and they sell for 99% of list price and the buyer wins. Other cases, the homes go for 40% off list price and the buyer wins. To increase your likeliness of winning, it pays to gave a great coach. Get a great coach by getting a great agent. The seller pays our commissions.

After nearly 1000 transactions and helping nearly 2000 people, we've determined that you as a buyer have two concerns: 1) you don't want to pay too much and 2) you don't want to miss out on a home. We've cured both of those concerns with one thing that we do. For more on that, contact me at Michael@TheMaherTeam.com.

Regardless, Srini, welcome to Kansas City. You'll love it here and you'll love owning a home in the area.

Michael

Michael J. Maher, MBA
http://www.MaherProfile.com
Web Reference: http://www.TheMaherTeam.com
2 votes Thank Flag Link Sun Mar 30, 2008
Srini, I had to laugh the other day. I was driving on 7 Highway in Olathe, heading south. There in the other lane was a jeep or SUV with a license plate that said SRINI. I laughed and thought of you. Just thought you would find that interesting. Michael at The Maher Team dot com.
Web Reference: http://www.MaherProfile.com
1 vote Thank Flag Link Tue Jun 24, 2008
Hi again, Srini. A home like you are looking for is anywhere between $225,000 all the way up to $600,000 depending how old you would like the home and amenities. In this area, seller's are not coming down a HUGE amount, probably around 5% or less, but there are some great opportunities with a forclosure or short sale home. These homes may need a little elbow grease with a good cleaning and new carpet and paint, but they can be a great investment and get you a wonderful home for a STEAL. Call or email me with any further questions.
1 vote Thank Flag Link Wed Apr 23, 2008
Good afternoon, Srini,

It sounds like you are right at the beginnig of your home search and to get you off to the best start possible, we may eed to sit down and determine what the best fit for you in a home in Overland Park would be. Of course, I would recommend that you begin your search on my web site at http://www.RustyMason.net but first, you would need to determine what type of home would best fit your needs.

You would also want to check with a few lenders to see what type and how much of a loan you would qualify for on a home. This goes a long way in seeing how much and where your are in your home buying search.

Each hiome sale is different and we would have to go throught the first steps to determine what house you would be looking at and then I would be able to do some deeper research to determine how much and if any reductions in price would be recommended.

Give me a call from my web site and let's see what we can do for you today.

Rusty Mason, Realtor
Coldwell Banker John Moffitt and Associates
cell 816-804-3423
Web Reference: http://www.RustyMason.net
0 votes Thank Flag Link Sun Jun 15, 2008
I would first start by checking out your agents online. Here is my website, I look forward to helping you find a home.
0 votes Thank Flag Link Tue Jun 3, 2008
Have you had a chance to get pe-qualified yet? If not I would be more than happy to look into that for you! Just let me know. My name is Brett and you can reach me at badams@nmcmtg.com.
Web Reference: http://www.nmcmtg.com
0 votes Thank Flag Link Fri May 30, 2008
What particular part of Overland Park do you like best? Do you have other criteria such as school district or distance to work to consider? Homes in Overland Park with 4 bedrms/ 3 baths/ 3 car garage are going for upwards of $200,000. I would need more specific information from you to give you a specific price range. Homes in this area are selling for between 93 - 103% of the asking price. To determine the overall value, you would need to look at the terms of the real estate contract as well as the final sales price.
0 votes Thank Flag Link Thu May 8, 2008
Congratulations on beginning your search.

Below you will find a link to a search portal that will show you all houses on the Kansas City MLS (It's actually an IDX search) that is easy to use.

You can locate the areas you like on the map, highlight them and break them down by bedrooms, price, etc.

Also, I would recommend working with Brent & Holly Sharp of Keller Williams. They work in OP with the kind of houses it sounds like you are after. Their number is 913.484.5691.

They can also help you find a reputable and trustworthy lender. Good luck and have fun!
0 votes Thank Flag Link Fri Feb 29, 2008
Hello,

First congratulations on this big step. I would encourage you to contact Bren & Holly Sharp of Keller Williams. They do quite a bit of work there in OP for the kind of house it sounds like you are looking for. Their phone number is 913.484.5691.

The easiest thing for you to do is to start by doing a few map searches of the areas you like. I've attached a link below for you to follow. From there you can highlight the areas you like and narrow down your search by bedrooms, price, etc.

I hope this helps to get you started! You might also want to contact a good lender that has a great reputation. Feel free to email me if you would like a couple of references. listwithchris@kw.com
0 votes Thank Flag Link Fri Feb 29, 2008
The average price will vary depending on the subdivision. If you need someone to send you a list of homes in an area I would be glad to do so. You can also check out my website to search for listings.
0 votes Thank Flag Link Fri Feb 29, 2008
Your first step should be to contact a local bank or mortgage broker. It's important to know how much you can afford before searching for a home. Also, keep in mind that what you qualify for may be more than you can comfortably pay. Leave yourself some wiggle room so that if your circumstances change, you won't be caught off guard. This is one of the biggest purchases you're going to make. Interview agents if necessary and find someone you are comfortable working with to negotiate on your behalf.
0 votes Thank Flag Link Fri Feb 29, 2008
Your first step would be to visit with your local bank or mortgage loan officer. It's important to know what you can afford. Keep in mind that once a lender gives you an amount that you qualify for, leave some room for other monthly expenses - don't get caught if an emergency arises, or circumstances change. Don't be afraid to interview agents. This is one of the biggest purchases you will ever make.
0 votes Thank Flag Link Fri Feb 29, 2008
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