Lawrence Kansas Real Estate

This is probably a topic where there is a lot of advice no matter where you turn.  I'm not here to tell you that I have anything new but maybe these insights will spark your desire to reconsider investing in real estate.  I hold classes on this subject and the comment that I hear over and over is how helpful the investment worksheet exercises have been that I go through with them.  Learning how to properly separate the costs of purchase, looking at cash on cash instead of cap rates, etc. are looked at and people have come back to me and told me how much money they could have lost had it not been for going through these exercises.  Talk about clients for life!

Anyway, you are probably asking where's the beef so here are three tips to keep in mind.  While looking at the income/expense ratios and property values, something that is normally overlooked is the surrounding property sales prices.  An investor needs to be able to know what prices are achieved for the area where they are considering an investment property.  Also, the rents in that area need to be looked at as well as vacancy rates.

Let me help you be more fully prepared.  Talk with me before investing in properties.

Thanks!
Rob Lang, ePro, GRI Realtor®
Realty Executives, Hedges Real Estate
300 Rockfence Pl, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
rob@LetRobDoIt.com   (same website name if you want to visit)

NOTE:  This blog was written in the past about properties on the market at the time of the blog being written and should not be considered as active listings beyond the date of this blog.

www.YankeeTank.com 2 very large bedrooms, 3 bathrooms, 2-car garage, 2.6 acres  All appliances, fireplace, wood burning stove, large 30x40' heated and A/C’d outbuilding for recording studio, workshop, or storage, tennis court area, Alvamar lake view, wildlife, birding, garden, fisherman’s paradise. 1 mile west of Wakarusa Drive on Clinton Parkway. Seller has owned the property for 18 years and has recently relocated to Kansas City. Visit website and then call Rob for appointment at 785-856-LANG (5264).

809 Elm in Eudora, 3BR, 1BA, 1447 sq ft, new carpet and ceramic tile, new countertops, ready to move in, reduced $5k to $95,000

1037 Wellington, Lawrence, Firm Price, Bring All Offers at or above $150,000 (auction), 4BR, 2BA, 2 car garage, 1756 sq ft, full finished basement with under garage bonus walkout room

$160,000 Investor's Dream - Eudora, Positive Cash Flow, 4-plex (two separate buildings), 6 BR, 4 BA, PITI approx. $1250, income $1750

4416 W 25 Place Lawrence, $170,000, 3BR, 2BA, 2 car garage w/insulated door, 1473 sq ft, skylights, ready to move in, patio, David Clemente built

3421 W 9 Ct Lawrence, Bring offer, 3BR, 2BA, 2 car garage, 1438 sq ft, $160,000, priced over $10,000 below this month’s est. county appraisal, wood burning fireplace

918 Pine in Eudora, 3BR, 1BA, 1600 sq ft, $11,000 worth of tip-in energy efficient windows, large fenced yard, $100,000

1122 Peach in Eudora, 3BR 2 1/2 BA, 1693 sq ft, 2 car garage, brand new listing, price not set as of this date

157 E.1250 Road, Baldwin, fisherman's dream, pond, home built by owner and his wife (all by themselves!!), many extras, brand new listing, price not set as of this date

Visual tours and appts available for all listings.

I'm a firm believer in home warranties.  I have always bought them for pc's and figure why should a home be different.  With the higher liability potential in homes, it just makes sense.

Every buyer and every seller I work with buys or receives a home warranty.  It is not an option when they work with me.  Why would I want to turn a satisfied buyer client into a disgruntled one once something happens in the first year of owning a home?  Why would I want to turn a satisfied seller client into a disgruntled one once something happens in the first year of selling their home and the buyer comes back after them?

Some of you that are resourceful will figure out how I maintain 100% compliance on this.  Just don't tell other Realtors® in Douglas County Kansas.

Thanks!
Rob Lang, ePro, GRI Realtor®
Realty Executives, Hedges Real Estate
300 Rockfence Pl, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
rob@LetRobDoIt.com   (same website name if you want to visit)

I almost made the title "Avoiding PMI Insurance" but I knew Jason in my office would jump all over my case for saying "Private Mortgage Insurance Insurance". 

My wife and I bought a home but didn’t have enough money for the 20% down payment at the time.  The PMI was only going to be $50 per month for two years.  So the question was whether to just pay the $1200 over the two years and take the deduction or to try some creative financing.

One option was for a piggy back loan at a much higher interest rate for the extra funds needed over my down payment to make up the 20% down.  It kind of looked like this was going to be more than $1200.

Another option was to shop around for a lender that wouldn’t charge PMI but would self-insure and bump up the interest rate themselves.  That seemed to yield the same results as the piggy back loan.

Having the property re-appraised was another option but that would have made me go from a no docs loan to conventional loan which meant digging through tax records for all the documentation which for my situation was not worth the $1200 it was going to cost me since I am involved in some corporations.

There may be other options that others want to share but the point I am making is to know there are options to PMI (Piggy back loans, raised rates, and re-appraisals).

I chose not to avoid PMI.  What have the rest of you done?  I'm not looking for "I just paid cash" or "I had the 20% down" type answers but for alternatives to PMI if a person doesn't have the 20% down.  Hopefully, this info and AR community's comments will help a buyer or two some day.

Thanks!
Rob Lang, ePro, GRI Realtor® for Lawrence Kansas Real Estate
Realty Executives, Hedges Real Estate
300 Rockfence Pl, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
rob@LetRobDoIt.com   (same website name if you want to visit)

For the past three days I have been taking the ABR course and elective.  The elective was my last course for my GRI so I now have that GRI to add to my ePro designation and in a few weeks I should hear back from Chicago that I can use the ABR designation.  CRS training is my next goal.

Why do I bring all this up?  I'm already over my limit for points for blogging so its not that. :)  The way I look at it is that one more Realtor® has gone beyond just getting licensed and learned graduate level valuable information to share with buyers and sellers in their real estate experiences.

I encourage every Realtor® to go the extra mile and to get trained to better serve consumers.  The industry will gain even more respect than it has already for us (#11 I heard is where we are as far as respected occupations goes).  Set some goals to obtain your designations that will provide you with an arsenal of tools to use in your chosen vocation.

Consumers win when we are better trained and that's why I said I've got some great news to share to my AR community.

Thanks!
Rob Lang, ePro, GRI Realtor®
Realty Executives, Hedges Real Estate
300 Rockfence Pl, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
rob@LetRobDoIt.com   (same website name if you want to visit)

We are usually sharing tips we have learned but this time I would like to turn the tables.  I have a request for all the buyers and sellers out there.  I'd like some help with some ideas on rider signs, the smaller panels that go on top of Realtors'® yard signs.

Here are just a couple to get you all started.  While the yard sign is in the yard for a for sale home, the rider might say, "Honey, Stop the Car!"  While the yard sign is in the yard for a SOLD home, the rider might say, "SOLD, but I've got more!!"

Realtors® please refrain from jumping in and commenting on this one for a week or so and let's see what the consumers have to say.  After all, buyers and sellers are who we as Realtors® are trying to grab your attention.

What would you as a buyer like to see as the rider on top of a yard sign to encourage you to take a second look at the house for sale?   What would you as a seller like to see as the rider on top of a yard sign to encourage buyers to take a second look at your house?

Realtors® feel free to jump in on this one starting November 3rd.  Thanks for the help everyone!

Thanks!
Rob Lang, ePro, GRI Realtor®
Realty Executives, Hedges Real Estate
300 Rockfence Pl, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
rob@LetRobDoIt.com   (same website name if you want to visit)

We're not that desperate to sell.  Bring me a buyer and I'll pay you a co-broker fee.  The house down the street is listed for more than you're suggesting we price ours at and ours is nicer.

What are the answers?  Before we start to give answers, maybe we need to think and listen to what is really being said or asked.  Is it possible that "The house down the street is listed for more than you're suggesting we price ours at and ours is nicer." translates into "I want you to know that I know what is going on in real estate" or "You're not going to get away with listing my home that low" or ???.

Maybe before answering these questions/handling these objections we should ask some more questions to know what is behind the question.  "Have you seen the $11,000 new tip-in double pane insulated windows that home down the street has added?" might be one question to ask if you know they spent that amount on the windows.  "What price do you have in mind?" could be another approach but you may have already asked that question and didn't think the price provided fits with the current market in their neighborhood.

Asking questions and then listening to their answers will help keep the communication lines open so objections don't become irreversible roadblocks.  What objections have you handled successfully and how did you do it?  What objections do you need help with?

Thanks!
Rob (FREE Home Warranty with every home you buy or sell through me!!)
Rob Lang, ePro, GRI, Realtor®
Realty Executives, Hedges Real Estate (four convenient locations)
112 E. 10th, Eudora, KS  66025 
1037 Vermont, Lawrence, KS  66044
3300 Clinton Parkway Ct., Lawrence, KS  66044
300 Rockfence Place, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
Voice Messages may be left Toll Free at 866-800-5353
Rob@LetRobDoIt.com
http://www.letrobdoit.com/
http://douglascountyopenhouses.com/
http://ihaveaddresses.com/
If you wish to opt out of further emails, please send an email with "remove" in the subject line.  I respect your privacy and your contact info will not be shared.

One of the best things we can do for both our sellers and our buyers is to get photos and Visual Tours on our listings.  I take that one step further and with the sellers' permission, I take photos and Visual Tours of listings without them to give to my buyers as a value added service.  With a flat monthly subscription price for the Visual Tours, I can make an unlimited number of tours to hand out to neighbors, buyers, sellers to hand out to others and more.  How about sharing some other ideas on how you are using Visual Tours or as a consumer, how you received one.

Thanks!
Rob Lang, ePro Realtor®
Realty Executives, Hedges Real Estate
300 Rockfence Pl, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
rob@LetRobDoIt.com   (same website name if you want to visit)

Rob's Listings points to my listings but I can provide a feature sheet like this one that highlights the properties that meet your search criteria.  Email or call me with what you are looking for in the Lawrence Kansas real estate property market (also serving Eudora Kansas, Douglas County Kansas and the surrounding area).

Thanks!
Rob Lang, ePro Realtor®
Realty Executives, Hedges Real Estate
300 Rockfence Pl, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
rob@LetRobDoIt.com   (same website name if you want to visit)

The number of websites about Lawrence Kansas keeps growing and growing.
There is:
http://www.visitlawrence.com/ and http://www.lawrence.com/ and http://www.lawrenceks.org/ and
http://www.lawrencekansas.org/ and http://www.larryville.com/ and http://www.lawrencechamber.com/
and http://www.usd497.org/ (schools) and http://www.6newslawrence.com/weather
(weather) and http://www.lawrence.lib.ks.us/ (library) and http://www.ku.edu/ (University of
Kansas) and http://www.ci.lawrence.ks.us/ (City Services) and http://www.ljworld.com/ (City
Paper) for starters.

Don't forget to visit http://www.lawrenceregionhomes.com/ to search for homes on the
market.

I would be happy to show you which homes are the better picks on the market
by sharing with you county info, sales info, sellers' disclosures, visual
tours, and much more.  Just call or email me for more info about Lawrence
Kansas real estate and properties for sale in the Douglas County Kansas
area.

Thanks!
Rob Lang, ePro Realtor®
Realty Executives, Hedges Real Estate
300 Rockfence Pl, Lawrence, KS  66049
785-393-2274 (cell)   785-542-1661 (fax)
rob@LetRobDoIt.com   (same website name if you want to visit)