lived in Lawrence for 10 years in Foxfire and moved to NYC for past 2 years . Just retired early at 50 and looking to move back.

Asked by flyfish, Lawrence, KS Sun Sep 15, 2013

Buy or sell? Have the funds to pay cash for house $200-$400K range. Am veteran with VA options if best to go nothing down and pay mortgage like rent. Thinking of maintenance free home/town house (not a duplex) as we travel. What does Lawrence offer folks like us now a days? Villas, Alvamar, Taylor Hobbs Lofts? Anything else? Build new? Rock Chalk!

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9
Marty Hender…, Home Buyer, Lawrence, KS
Sun Sep 15, 2013
Got a few options in Lawrence... what is your time frame? Shoot an email to me.. thanks MartyHendersonRealtyExecutives@gmail.com 785 766 6666
3 votes
Excellent, I have been a Realtor for 15 years... Looking forward to meeting you... Lets plan on doing as much as we can over the email and I can start to narrow down our search... Hi me this week when you have time to give me more information on what will ... Thanks Marty http://www.MartyHenderson.com
Flag Sun Sep 15, 2013
Thanked
Flag Sun Sep 15, 2013
Thanked
Flag Sun Sep 15, 2013
Lease in NYC ends in July.
Flag Sun Sep 15, 2013
Nathan Parad…, Agent, Lawrence, KS
Sun Sep 15, 2013
Hey Flyfish,

Congrats on early retirement and welcome back in advance!

"What does Lawrence offer folks like us now a days?" - Pretty dynamic array of properties w/ Home Owners Association (HOA) in that price range. I'm showing 18 active listings w/in that price range at the moment; built anywhere from 1951 to 2008; from 1481-4700 sq ft; 2-5 beds/2-5 baths. Almost 1/2 of these have been on the market for 150 days. Kind of all over the place so you should be able to find something in the area you decide on.

Looks like 3 units have sold at Hobbs Taylor in the past ~year. Nothing showing active/available in our MLS at the moment.

There's been some change since you left town so you might spend a little time exploring to be certain of your location, if at all possible.

I'd be inclined to drop a nice payment on a 15-yr note and then seek other investment opportunities for some/all of the remaining funds. But I'm not a financial planner, so, grain of salt...

I know Diane Fry does a lot of VA loans locally, so you might give her a shout, if only to feel things out: http://www.dianefrywebsite.com/

Perhaps you'd appreciate working with another vet (9yr AD USAF) in this pursuit? Feel free to poke around my site (linked below) and drop me line if you need any tips or a refresher on buying/selling real estate in Lawrence.

Best,
Nate Paradis
Chief Properties
nathanparadis@gmail.com
Voice/Text: 785.550.8947
2 votes
Stan Trekell, Agent, Lawrence, KS
Sun Sep 15, 2013
As a born and bred New Yorker who has lived in Lawrence for the past 39 years,

Welcome Home!

Stan Trekell
Realty Executives
1 vote
Rob Lang :), Agent, Lawrence, KS
Sun Sep 15, 2013
Hi Flyfish,

I love NYC. Been there 13 times (first time in 1970 as a senior in high school) and always ready to go again!

It depends on whether you want a monthly payment or not, whether you want to build wealth or not, and so on so I can't really address all the scenarios here. Also, you don't really need a lot of tax deductions (if any) since you have retired.

However, here a couple scenarios:

1) If you don't want a monthly payment, use your cash to buy your house. If you ever change your mind and decide you need money for something, you can borrow against the house.

2) If you want to build wealth, use the VA loan for buying your house and use your cash for down payments to buy rental properties and let the tenants pay off those mortgages. Which is better for you (and your heirs if any), to have one house paid off when you are 80 or 4 to 8 houses paid off when you are 80? NOTE: I used to own a property management company (called CBE) that I still advise and work closely with the new owner who can manage everything for you if you don't want to manage them yourself. CBE also does tenant screening and runs credit reports and background checks which is the key to having great tenants and fewer problems.

Lots of other scenarios exist and I would be happy to talk with you or email with you to discuss what your goals are to then advise on some strategies for you to consider.

The web reference below is from my website search for $200,000 to $400,000 houses in Alvamar but using the advanced search on my website will allow you to search via over 80 fields with over 1000 search criteria to go by builder, by age of property, by DOM (Days on Market), and so on.

Let me know if I can be of more help!
1 vote
Marty Hender…, Home Buyer, Lawrence, KS
Sun Sep 15, 2013
The best success I have had is to find exactly the style and amenities that would work for you and go solicit owners until we find a seller... if you have flexibility on time, that has made my clients the happiest... (this is a text from a client just a few weeks ago)...
=========
Marty, we LOVE this
house!!! Thank you!!!!!💓
1 vote
Lisa Buller…, Agent, Lawrence, KS
Sun Sep 15, 2013
Lawrence has many options in this price range and there are lots available in desirable areas that offer HOA amenities if you are looking at new construction. Your cash may work better for you invested in other areas that will make more than 4%. VA loans and other mortgage options are still very low. Check out what Lawrence has to offer via my website. Create your own custom search here http://lisabullerman.kwrealty.com/.
1 vote
Evans Franco…, Agent, Everett, MA
Sun Sep 15, 2013
Well you have many options with that type of down payment. You can buy a stand along condo/town house in a retiree community where management take care of all maintenance and the other option is you can get a VA or FHA loan depending on your credit with low or no down payment. Take 200k-400k you have put it Roth IRA and use the interest on your money to pay your mortgage, I'm a summing you're over 59 yrs young. If you have any other question, feel free to contact me.
Link here [ http://evansfrancois.exithomesforu.com/ ]
1 vote
Rob Lang :), Agent, Lawrence, KS
Sun Sep 15, 2013
Sorry, it appears Trulia truncated my web reference and so 147 properties show up instead of the 12 in Alvamar for sale but you will get the idea on how to narrow them down. Let me know if you prefer email alerts.
0 votes
Mark Hess, Agent, Lawrence, KS
Sun Sep 15, 2013
We have a lot of diversity in our community and finding what your time line is and what are your must haves will help you and your agent find the right fit for you. With VA loans you can leverage your money and with loan rates under 5 % and with no PMI you can really then invest your money in other places like investment properties or IRA's with greater returns. We have some lenders that don't charge underwriting fees for VA loans so closing cost are low. If you are looking for a agent that knows the market. Give me a call or shoot me an email at MarkHess@Realtor.com 785-979-4663.. Good luck. Check Out my website at LawrenceHomeBuyers.com
0 votes
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