Lawrence Kansas Real Estate: December 2006

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Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR®

At Home Kansas / www.AskRobLang.com

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300 Rockfence Pl, Lawrence, KS, 66044

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(785) 813-1357

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Less than 3 out of 10 listings use Visual Tours

I just ran a spreadsheet that counted 167 out of 571 listings in our MLS that used Visual Tours. That is less than 3 out of 10 listings.

While I am sure this is tremendous growth over the number from one year ago, I still wonder why all Realtors® do not make use of this tool.

Consider one of the single most important facts being that http://www.realtor.com/ allows buyers to sort listings by whether the listing has a visual tour or not. Consider that photos on MLS and on most websites are limited but visual tour photos usually are virtually unlimited. Consider that visual tours can show panoramas of how the home fits into the neighborhood and facilitates showing consumers how the floorplan is laid out.

The company I use charges a flat $29.95 per month for as many visual tours as I want. They don't even have to be on listings. I even did one on Christmas Lights in my neighborhood that can be found by clicking on the photo below.

Making innovative uses of visual tours just adds to their existing value. I believe as time goes on, more and more sellers will bring their listings to a Realtor® who makes use of tours to help sell their homes.

What are your comments on visual tour usage and what success stories do you have?

Thanks!
Rob Lang, ABR, 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 http://www.letrobdoit.com/

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.

5 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 29 2006 02:26PM

Retiquette (Realtor® Etiquette)

After doing a Google search for Retiquette, I believe I am coining a new term for Realtor® Etiquette. Now don't call me Emily (Post) but I'm hoping many more will jump in here and add their Retiquette experience where a fellow Realtor® pulls you aside and says, "That's not the way we do things!"

Here's what happened. I gave a Lawrence Kansas real estate expired packet to a seller who had previously had a listing with an expired Realtor® in my office. NOTE: This is not to say that the Realtor® was expired but that the Realtor® had allowed a listing with this seller to expire. :)

Now before you all jump on my case, please listen to my rationale. First, I always print the following at the top of the expired packet. "I understand that your listing has expired. If this is not so, please disregard." Second, when a listing expires, any Realtor® can go after that listing. Third, if a seller is not convinced about using the same Realtor® again, he may not say anything to the Realtor® and just find another one. Before this seller lists with a Realtor® from another office, I want to show the seller that I am on top of things and hopefully he will want me to represent his listing because I am on the ball. NOTE: I'm not a seal and I'm not really on a real ball. I can just imagine some of you asking me if I juggle too.

Anyway, the expired Realtor®, who is not dead, called me up and said, "I think that is pretty 'crappy' (his word not mine) to do that to someone in your own office." He thought I should have called him and asked if the listing was going to be renewed. Now if the guy actually answered his phone instead of having a voice mail greeting that says, I will be returning my calls between 3:15 and 3:40pm today..." NOTE: Am I the only one that is bothered by this?? Not that this expired Realtor® does this but it could happen.

Well, I agreed to give a courtesy call to any Realtor® in our office who lets a listing expire. They had better answer their phone though or I'll be on my way to the seller's house. By the way, this expired Realtor® said it was okay for me to go after expired Realtor® listings from other offices; just not Realtors® in our office.

Besides the other rationale I have given, I believe a seller is entitled to the best possible services from a Realtor® and how are they going to know about better service unless we tell them what we have to offer?

So the first rule of "Retiquette" ever written, at least in this blog, is "Thou shalt give a courtesy call to an expired Realtor®, who is not dead, to see if he is going to re-list his expired listing."

Okay, now it is your turn. Who will provide the next Retiquette?

Merry Christmas everyone! (This should give some of you fuel for the next Retiquette!!)

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.

17 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 24 2006 02:05PM

Douglas County SOLDs 11-19-06 to 11-19-06

Sqft	Original Price	Asking Price	Sold Price	Type	City	State	Zip	DOM	BR	BA	Gar	Basemt	Year	Lot Size
918	$79,900	$79,900	$78,500	CITY-SINGLE FAMLY	Lawrence	KS	66047	36	Two	One	One	No	1970
997	$95,000	$90,000	$91,230	RURAL RESIDENTIAL	Eudora	KS	66025	44	Three	One	None	No	1920	0.8acres
1408	$129,900	$129,900	$129,900	CITY-TOWNHOUSE	Lawrence	KS	66049	38	Three	Two	One	Yes	1989	4320
1450	$154,900	$149,500	$135,000	CITY-SINGLE FAMLY	Lawrence	KS	66046	127	Three	Two	Two	No	1996	7492
1378	$145,900	$139,900	$139,900	CITY-SINGLE FAMLY	Lawrence	KS	66044	62	Three	Two	Two	No	2005	8246
1240	$147,500	$144,900	$142,900	CITY-SINGLE FAMLY	Lawrence	KS	66044	97	Three	Two	Two	No	2001	9008
1692	$161,900	$158,000	$156,100	CITY-SINGLE FAMLY	Eudora	KS	66025	35	Four	Two	Two	No	2003	9742
1550	$194,500	$194,500	$194,500	CITY-SINGLE FAMLY	Lawrence	KS	66047	26	Five+	Three	Two	Yes	2002	10472
unk	$248,045	$248,045	$248,045	CITY-TOWNHOUSE	Lawrence	KS	66047	0	Three	Three	Two	Yes	2006
unk	$284,000	$254,000	$250,000	CITY-SINGLE FAMLY	Lawrence	KS	66044	180	Four	Three	Two	Yes	1900
2254	$285,000	$285,000	$265,000	RURAL RESIDENTIAL	Lawrence	KS	66044	15	Three	Two	Two	Yes	1996	3a
2600	$287,900	$282,900	$282,900	CITY-SINGLE FAMLY	Lawrence	KS	66049	94	Four	Four	Two	Yes	2006	14804

Please note that three of the SOLDs listings had huge price adjustments of $19,900 to $34,000. This process should go away in the spring. Many sellers have pulled their properties off the market waiting for a more balanced market. Now is the best time to buy because there are many sellers still out there who are willing to take a loss since they take a gain on buying a new home. For all your Lawrence Kansas real estate needs, give me a call.

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.

1 comment • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 22 2006 11:36AM

Douglas County SOLDs 11-26-06 to 12-02-06

Sqft	Original Price	Asking Price	Sold Price	Type	City	State	Zip	DOM	BR	BA	Gar	Basemt	Year	Lot Size
1197	$67,900	$67,900	$61,000	CITY-SINGLE FAMLY	Lawrence	KS	66044	33	Three	One	None	No	1955	6300
576	$69,900	$69,900	$69,900	CITY-SINGLE FAMLY	Lawrence	KS	66044	10	One	One	None	Yes	1930	30492
1050	$105,900	$94,500	$95,000	CITY-TOWNHOUSE	Lawrence	KS	66049	70	Three	One	One	No	1980
1025	$129,900	$124,900	$118,500	CITY-SINGLE FAMLY	Lawrence	KS	66047	120	Three	One	One	No	1959	9036
1260	$134,900	$137,900	$137,500	CITY-TOWNHOUSE	Lawrence	KS	66046	514	Two	Two	Two	No	2005
1778	$164,900	$149,900	$138,400	CITY-SINGLE FAMLY	Lawrence	KS	66044	55	Three	Three	Two	Yes	1992	8602
1410	$145,000	$145,000	$141,000	CITY-SINGLE FAMLY	Lawrence	KS	66046	13	Three	Two	One	Yes	1972	9400
1440	$149,900	$149,900	$149,500	RURAL RESIDENTIAL	Lecompton	KS	66050	4	Three	Two	Four	Yes	1979	2.7acres
1360	$164,900	$164,900	$164,900	CITY-SINGLE FAMLY	Eudora	KS	66025	47	Three	Two	Two	Yes	2006	12407
1573	$165,900	$166,900	$165,000	CITY-SINGLE FAMLY	Lawrence	KS	66047	9	Four	Three	Two	No	1992	4750
1920	$180,000	$174,900	$165,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	81	Four	Three	Two	Yes	1986	10948
1390	$169,900	$169,900	$173,400	CITY-SINGLE FAMLY	Eudora	KS	66025	-4	Three	Two	Two	Yes	2006	10374
1477	$184,500	$184,500	$178,500	CITY-SINGLE FAMLY	Eudora	KS	66025	14	Three	Two	Three	Yes	2002	15151
2862	$249,900	$239,000	$215,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	171	Four	Three	Two	Yes	1977	13165
unk	$236,095	$236,095	$236,611	CITY-TOWNHOUSE	Lawrence	KS	66047	0	Two	Three	Two	Yes	2006
2450	$269,900	$254,900	$255,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	163	Five+	Three	Two	Yes	unk	8932
unk	$289,900	$279,900	$260,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	499	Four	Three	Three	No	2005	10628
2375	$299,500	$299,500	$294,500	RURAL RESIDENTIAL	Lawrence	KS	66047	56	Four	Three	Two	Yes	1988	5.03acres
2833	$319,900	$319,900	$313,500	CITY-SINGLE FAMLY	Lawrence	KS	66049	31	Four	Three	Two	Yes	1994	7125
1724	$325,000	$325,000	$315,000	RURAL RESIDENTIAL	Baldwin City	KS	66006	42	Three	Three	None	Yes	2004
3092	$335,000	$335,000	$316,500	CITY-SINGLE FAMLY	Lawrence	KS	66044	152	Four	Four	Two	Yes	1981	13200
3411	$379,900	$379,900	$350,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	240	Four	Four	Three	Yes	2000	12600
3300	$379,000	$365,000	$354,000	CITY-SINGLE FAMLY	Lawrence	KS	66047	170	Four	Three	Two	Yes	1994	18992
2786	$359,900	$359,900	$355,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	155	Three	Three	Three	Yes	2006	7750
4625	$1,700,000	$425,000	$425,000	RURAL RESIDENTIAL	Overbrook	KS	66524	82	Five+	Five+	Two	Yes	1997	515a
3766	$477,900	$477,900	$473,500	CITY-SINGLE FAMLY	Lawrence	KS	66049	203	Five+	Three	Two	Yes	2006
3512	$1,200,000	$1,200,000	$1,203,840	CITY-SINGLE FAMLY	Baldwin City	KS	66006	233	Four	Five+	Two	Yes	2002	77a

Please note the huge price adjustments of $18,500 to $34,900 on six of the SOLDs. This trend should go away in the spring. Many sellers have pulled their properties off the market waiting for a more balanced market. Now is the best time to buy because there are very motivated sellers still out there.

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.

2 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 21 2006 06:25AM

Douglas County SOLDs 12-03-06 to 12-09-06

Sqft	Original Price	Asking Price	Sold Price	Type	City	State	Zip	DOM	BR	BA	Gar	Basemt	Year	Lot Size
1230	$90,000	$90,000	$90,000	CITY-SINGLE FAMLY	Lawrence	KS	66046	0	Three	One	One	Yes	1923	11602
1100	$99,900	$99,900	$97,000	CITY-TOWNHOUSE	Lawrence	KS	66047	278	Three	Two	One	No	1981	4104
1120	$109,900	$104,900	$104,900	CITY-SINGLE FAMLY	Lawrence	KS	66044	22	Three	One	One	No	1977	8946
1032	$121,900	$121,900	$119,500	CITY-TOWNHOUSE	Lawrence	KS	66049	108	Two	Two	One	No	1994	3884
unk	$129,500	$129,500	$129,500	CITY-SINGLE FAMLY	Lawrence	KS	66044	0	Three	Two	Two	No	1955	9000
1386	$149,900	$149,900	$148,500	CITY-SINGLE FAMLY	Lawrence	KS	66047	85	Three	Two	Two	No	1992	50x90
1852	$159,900	$149,900	$149,900	CITY-SINGLE FAMLY	Lawrence	KS	66049	35	Three	Two	One	Yes	1961	9065
1664	$165,000	$159,900	$157,500	CITY-SINGLE FAMLY	Lawrence	KS	66049	78	Four	Two	Two	No	1999	7102
2350	$184,900	$184,900	$175,000	CITY-TOWNHOUSE	Lawrence	KS	66046	14	Four	Three	Two	Yes	2001
1804	$189,900	$189,900	$183,500	CITY-SINGLE FAMLY	Lawrence	KS	66047	61	Four	Three	Two	Yes	1973
2768	$225,000	$225,000	$212,500	CITY-SINGLE FAMLY	Lawrence	KS	66049	30	Four	Three	Two	Yes	1978	14900
2430	$259,900	$219,500	$217,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	27	Four	Three	Two	Yes	1995	8841
3124	$254,900	$239,900	$217,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	82	Three	Three	Two	Yes	1968	20474
unk	$227,045	$227,045	$237,720	CITY-TOWNHOUSE	Lawrence	KS	66047	-10	Two	Three	Two	Yes	2006
3400	$284,900	$259,900	$256,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	130	Five+	Four	Two	Yes	1994	7020
3342	$279,500	$279,500	$280,000	RURAL SUBDIVISION	Lawrence	KS	66047	131	Five+	Three	Two	Yes	1981	91416
2416	$314,900	$289,900	$286,500	CITY-SINGLE FAMLY	Lawrence	KS	66049	170	Four	Three	Two	Yes	1999
1802	$309,900	$314,900	$330,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	186	Three	Two	Two	Yes	2006	10785
2697	$359,900	$359,900	$339,000	CITY-SINGLE FAMLY	Lawrence	KS	66049	84	Four	Three	Two	Yes	2000	14567

Please note the huge price adjustments of $20,000 to $28,000 on some of the SOLDs. This should go away in the spring. Many sellers have pulled their properties off the market waiting for a more balanced market. Now is the best time to buy because there are very motivated sellers still out there.

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.

0 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 21 2006 06:11AM

Douglas County SOLDs 12-10-06 to 12-16-06

Sqft	Original Price	Asking Price	Sold Price	Type	City	State	Zip	DOM	BR	BA	GAR	Basemt	Year Built	Lot Size
900	$73,000.00	$73,000.00	$73,000.00	CITY-CONDO	Lawrence	KS	66046	-6	Two	One	None	No
1100	$84,900.00	$74,000.00	$74,300.00	CITY-TOWNHOUSE	Lawrence	KS	66044	193	Two	Two	One	Yes	1980
1080	$97,500.00	$89,900.00	$89,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66044	111	Two	One	None	No
1028	$126,000.00	$95,000.00	$93,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66044	48	Three	One	None	No	1981	10300
1600	$100,000.00	$100,000.00	$95,000.00	CITY-SINGLE FAMLY	Eudora	KS	66025	134	Three	One	None	No	1955	10180
2056	$141,900.00	$129,900.00	$120,000.00	RURAL RESIDENTIAL	Overbrook	KS	66524	150	Four	Two	Two	Yes	1999	7.43 acres
1272	$144,900.00	$139,900.00	$134,500.00	CITY-SINGLE FAMLY	Lawrence	KS	66044	128	Three	One	One	Yes	1950
1106	$140,000.00	$140,000.00	$135,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66046	52	Two	Two	None	Yes	1930	5650
1044	$140,000.00	$140,000.00	$138,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66044	31	Two	One	None	Yes	1930	6500
1421	$145,900.00	$145,900.00	$147,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66046	9	Three	Two	Two	No	1997	19827
1538	$150,900.00	$149,900.00	$149,900.00	CITY-TOWNHOUSE	Lawrence	KS	66046	219	Three	Three	Two	No	2006
1777	$174,900.00	$164,900.00	$160,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66046	137	Three	Three	Two	Yes	1994	11263
1764	$184,950.00	$184,950.00	$180,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66046	71	Three	Three	Two	Yes	1966	10890
2640	$189,900.00	$179,900.00	$182,970.00	CITY-SINGLE FAMLY	Lawrence	KS	66049	182	Four	Two	One	No	1954	9750
1708	$195,000.00	$185,000.00	$186,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66047	107	Four	Two	Two	Yes	1994	10007
1312	$207,000.00	$207,000.00	$190,500.00	RURAL RESIDENTIAL	Lecompton	KS	66050	46	Four	One	Three	Yes	1920	10.5a
1741	$204,900.00	$204,900.00	$203,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66049	19	Three	Two	Two	No	2000	9041
1505	$289,900.00	$289,900.00	$282,000.00	RURAL RESIDENTIAL	Baldwin City	KS	66006	111	Three	Two	Two	Yes	2000	10acres
2986	$349,900.00	$324,500.00	$323,782.00	RURAL RESIDENTIAL	Lawrence	KS	66047	177	Four	Three	Two	Yes	1978	12.7 a
3381	$354,500.00	$349,900.00	$325,512.00	CITY-SINGLE FAMLY	Lawrence	KS	66049	111	Five+	Four	Three	Yes	2001	9335
3268	$359,900.00	$329,900.00	$327,400.00	RURAL RESIDENTIAL	Baldwin City	KS	66006	60	Four	Three	Two	Yes	1995
2535	$346,900.00	$346,900.00	$335,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66049	391	Four	Four	Two	Yes	2005	9806
3318	$384,900.00	$416,900.00	$411,500.00	RURAL SUBDIVISION	Lawrence	KS	66047	842	Five+	Four	Three	Yes	2004	43570
5377	$499,900.00	$499,900.00	$485,000.00	CITY-SINGLE FAMLY	Lawrence	KS	66049	47	Five+	Five+	Two	Yes	1981	19061

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.

0 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 21 2006 05:59AM

Market Forecast for Lawrence Kansas Real Estate in 2007

Like I said in the Kansas and Douglas County Market forecasts for 2007, I don't have a crystal ball and I have no guarantee on the following predictions but I believe the Lawrence Kansas real estate market is heading for a great year.

I believe that due to lower interest rates that I believe are coming in 2007 the Lawrence Kansas real estate market will see one of its best three years ever in sales. I do not believe it will be a record year but will probably come in at #3 because of the high inventory of homes on the market at the end of 2006.

30 year fixed interest rates for Lawrence Kansas range from 5.5% to 6.625% as of 12-18-06. The average rate is 5.938%. Throwing out the highest and lowest and averaging the other 8 came out to 5.906%. The most frequent rate quoted was 5.875%. I believe the rates may drop down to at least 5.5%-5.6% as being the most frequent rate quoted during some week in 2007.

The best time to buy in the area of Lawrence Kansas real estate is right now which includes Lawrence Kansas homes for sale, Eudora Kansas homes for sale, and Baldwin Kansas homes for sale (in that order due to county appreciation rates for these cities).

Why now instead of when the interest rates drop a little more? Right now there is a surplus inventory of Lawrence homes on the market that will take about a year to sell off at this past year's sales' rates. With this buyer's market, homes are selling for $5,000-$25,000 below the asking prices. As the interest rates start to drop, more people will buy and decrease that inventory which will drive the sales prices up closer to the asking prices. Therefore, buying a home right now will mean instant $5,000-$25,000 equity when the prices rise.

Again, this is just an educated guess and no guarantees are given but I have just made a personal investment of $204,000 in a property that should receive a $40,000-$50,000 instant raise in equity in 2007; probably around August or September when the supply moves close to demand and the market balances.

The Lawrence Kansas real estate market is experiencing probably the best appreciation rates in the state and should see a continuance of this appreciation during 2007.

Keep an eye on this blog as I will post 2007 figures as they come in. Give me a call if you are interested in Lawrence Kansas real estate and for real estate needs elsewhere, I will refer you to a qualified Realtor® who will take excellent care of you.

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.

0 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 19 2006 11:59AM

Market Forecast for Douglas County Kansas in 2007

Like I said in the Kansas Market forecast for 2007, I don't have a crystal ball and I have no guarantee on the following predictions but I believe the Douglas County Kansas real estate market is heading for a great year.

I believe that due to lower interest rates that I believe are coming in 2007 the Douglas County Kansas real estate market will see one of its best three years ever in sales. I do not believe it will be a record year but will probably come in at #3 because of the high inventory of homes on the market at the end of 2006.

30 year fixed interest rates for Douglas County range from 5.5% to 6.625% at 10 local lenders as of 12-18-06. The average rate is 5.938%. Throwing out the highest and lowest and averaging the other 8 came out to 5.906%. The most frequent rate quoted was 5.875%. I believe the rates may drop down to at least 5.5%-5.6% as being the most frequent rate quoted during some week in 2007.

The best time to buy Douglas County Kansas real estate is right now which includes Lawrence Kansas homes for sale, Eudora homes for sale, and Baldwin homes for sale (in that order due to county appreciation rates for these cities).

Why now instead of when the interest rates drop a little more? Right now there is a surplus inventory of Douglas County homes on the market that will take about a year to sell off at this past year's sales' rates. With this buyer's market, homes are selling for $5,000-$25,000 below the asking prices. As the interest rates start to drop, more people will buy and decrease that inventory which will drive the sales prices up closer to the asking prices. Therefore, buying a home right now will mean instant $5,000-$25,000 equity when the prices rise.

Again, this is just an educated guess and no guarantees are given but I have just made a personal investment of $204,000 in a property that should receive an instant $40,000-$50,000 instant raise in equity in 2007; probably around August or September when the supply moves close to demand and the market balances.

Douglas County is experiencing probably the best appreciation rates in the state and should see a continuance of this appreciation during 2007.

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.

0 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 19 2006 11:48AM

Market Forecast for Kansas in 2007

No, I don't have a crystal ball and no I have no guarantee on the following predictions but I believe the Kansas real estate market is heading for a great year.

I believe that due to lower interest rates that I believe are coming in 2007 the Kansas real estate market will see one of its best five years ever in sales. I do not believe it will be a record year but will probably come in at #4 because of the high inventory of homes on the market at the end of 2006.

30 year fixed interest rates for Douglas County for example range from 5.5% to 6.625% at 10 local lenders as of 12-18-06. The average rate is 5.938%. Throwing out the highest and lowest and averaging the other 8 came out to 5.906%. The most frequent rate quoted was 5.875%. I believe the rates may drop down to at least 5.5%-5.6% as being the most frequent rate quoted during some week in 2007.

The best time to buy Kansas real estate is right now and in particular Douglas County real estate which includes Lawrence Kansas homes for sale, Eudora homes for sale, and Baldwin homes for sale (in that order due to county appreciation rates for these cities).

Why now instead of when the interest rates drop a little more? Right now there is a surplus inventory of homes on the market that will take about a year to sell off at this past year's sales' rates (here in Douglas County). With this buyer's market, homes are selling for $5,000-$25,000 below the asking prices. As the interest rates start to drop, more people will buy and decrease that inventory which will drive the sales prices up closer to the asking prices. Therefore, buying a home right now will mean instant $5,000-$25,000 equity when the prices rise.

While Douglas County is experiencing probably the best appreciation rates in the state, the rest of the state still should see a low positive increase in appreciation during 2007.

Keep an eye on this blog as I will post 2007 figures as they come in. Give me a call if you are interested in Lawrence Kansas real estate and for Kansas real estate, I will refer you to a qualified Realtor® who will take care of your needs.

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.

0 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 19 2006 10:55AM

Mortgage Foreclosure Laws in Kansas

Kansas Mortgage Foreclosure Laws protect home owner's rights to maintain possession of their homes during foreclosure. When home owners get a good attorney or know the law well and go pro se, their homes could be tied up in court for a year or more.

It is not unusual to see several years of past due county property taxes before the county will take on the home owner. When mortgage loans are in default, usually every other attempt has been made before attempting foreclosure in Kansas due to its foreclosure laws.

But once the foreclosure process begins, an investor has anywhere from 1 hour to produce the cash (as it is here in Douglas County) on up to about 30 days to obtain financing in the other 104 Kansas Counties. Some foreclosures prohibit viewing the inside of homes and prohibit inspections to be conducted (as it is here in Douglas County) while in other counties public showings and inspections may be conducted. The successful bidder may also inherit a tenant in the process if the home owner has not vacated the premises.

Disclaimer: As always, you should consult an attorney for legal advice regarding foreclosures when considering this type of speculative investment.

For more information on distressed properties and foreclosures, give me a call and I will put you in touch with a qualified Realtor® in your Kansas County or I will be happy to help you with your real estate needs in Douglas County Kansas and the Lawrence Kansas real estate market.

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.

0 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 18 2006 10:25PM

Mistakes Sellers Make When Selling Their Home #2

Homes don't sell the same way they used to such as by simply putting a sign in the yard and adding the home to the MLS. Yet sellers will sometimes select a Realtor® who will do just that and only that. Well, maybe they also pray that the home will sell.

The new way of selling homes involves creative thinking, training, innovative marketing, and experience. If your Realtor® does not have the best marketing plan in your area, you need to pick someone else to handle such an important transaction in your life.

The old way is to have an ad in the paper for an open house. I don't do open houses. When I sit down with you during the listing presentation I will tell you why.

The old way is to price homes at $100 below an even $10,000 point such as $159,900. This procedure will cut the number of buyers you will get going through your home by more than half.

My goal in taking your listing is to get the most qualified buyers into your home as possible thereby allowing your home to sell itself to one of those qualified buyers.

The old methods don't work so if you want to list your home in the Lawrence Kansas real estate market or in the surrounding area, check my creativity out. If you are out of the area, I would be happy to refer you to someone in your area that uses innovative techniques like myself. Remember: Not all Realtors® are alike.

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 http://www.ihaveaddresses.com

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.

0 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 17 2006 05:00PM

Mistakes Sellers Make When Selling Their Home #1

While the mistakes I will be providing in upcoming blogs are in no particular order, sellers should pay special attention to this mistake. Many Realtors® know how important this first issue is because it is covered in virtually every graduate level post licensing real estate course having to do with sellers. The issue is proper pricing.

I'm hoping other Realtors® will join in here and share real life examples of why this is so crucial. A seller once told me he needed $XXX,000 for his home so he would have 20% down payment on his new home and thereby would not have to pay PMI (Property Mortgage Insurance). He said he had that with his first house mortgage and wasn't going to have that again.

Most people know me as being pretty blunt so they will understand when I say that I told this seller that it didn't make any difference what he needed for his house. It didn't matter what he thought his house was worth and it didn't matter how much I thought his house was worth.

The only thing that dictates what a house is worth is what a buyer will pay for it. A home can appraise for $170,000 but if the most money any buyer on the market will pay for the home is $157,000 then that is the value of the house. It is a buyer's market in Lawrence Kansas Real Estate and probably will be through most of 2007.

Unfortunately, this seller didn't heed my message and listed with an agent who listed his home for his $XXX,000. The home has been on the market for over 300 days now and in my opinion will continue to be on the market for another year or more before it will sell for his price unless he makes a price adjustment which he has yet to do. According to the listing agent, this house has had virtually no showings for over eight months and in the first two weeks of it being on the market, there were only three showings and of course no offers.

There were too many other homes on the market in better condition for lower prices and that is still the situation today. The seller won't adjust to the market so his home becomes a statistic of long DOM (Days on Market).

So what are your improper pricing stories?

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.

0 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 17 2006 12:40AM

What's in Your Sales Meeting? (Taken from What's in Your Wallet?)

I am going to my sales meeting in a few minutes and I got to thinking that this might be a good blog subject. I'm not looking for trade secrets here but just an overall agenda for your sales meetings.

Ours starts off with 15 minutes to take volunteers for floor time (according to seniority). This is followed by announcements, new designation awards, new listings, buyers looking for a particular property, sales stats, salesperson of the month and other accomplishments' awards, lunch sponsored by a speaker (usually a lender, home warranty rep, title company rep, etc.), and optional training that most people opt out.

We receive credit for attending this two hour sales meeting as a deduction from our broker fees for the month. Cell phone must be off and if we get up to take a call, we lose the deduction (many don't care since a sale is worth much more than a deduction from our fees).

How about you? What's in Your Sales Meeting?

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.

1 comment • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 12 2006 10:32AM

Who's Keeping AR Community Alive?

While it can definitely be said that the founders/moderators are doing a tremendous job at keeping our AR Community alive and we would be nothing without their devotion, time, effort, and support, the real AR Community is made up of us. If we don't blog, if we don't comment, if we don't join and start groups and maintain them, if we don't invite others, then what becomes of the AR Community?

So hats off to Matt and Caleb and the other AR moderators that I haven't yet had the pleasure to talk with, but also a hats off to the contributors of our AR Community. One way you can tell if you are in a good balance of listening and soaking in all of the valuable information that flows in to AR is to click on your points summary and compare the two lines that say Comments Received and Comments Made. If these two numbers are close to each other then you are doing a great job of balancing input with output.

Everyone has something to share no matter how new or old you are to real estate. Someone with 30 years in real estate may not know the latest in technology whereas a newer agent may have that edge. Of course, there could be longtime agents with tremendous technological skills and newbies that don't know how to get the print screen to work.

Broker Bryant (BB) recently surpassed 100,000 points on AR. His comments received is 3407 and comments made are 2379. His wife, "The Lovely Wife" (TLW), has comments received as 3011 and comments made are 3187. (Maybe this is telling of who talks the most in their marriage??) But these two are busy supporing other AR Community members' blogs by commenting and encouraging others, offering tips from their real estate experiences, and have created quite a following.

However, there are multitudes of others that have around 50 comments received and around 50 comments made that are just as valuable at making this the AR Community. So hat's off to the Moderators, hats off to BB & TLW, and hats off to all the others that make our AR Community the great place that it is!

I want to thank the AR Community for all the wonderful things I have learned here and I look forward to many more things learned. I know I have omitted many great names here and also great newbies here in AR. So now it's your chance to name drop. Who can you tip your hat to?

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.

6 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 12 2006 07:32AM

Informing our clients about our post licensing real estate education

Well my ABR designation has finally arrived. Next stop is CRS on my training agenda. I made a handout that I provided to my prospective clients showing my 2006 training schedule. I have cut and pasted it below.

I believe it helps consumers see that I have gone beyond just getting my real estate license and has put me in with an elite few that have these designations. Sure, there are more designations to earn and designations aren't everything as Broker Bryant (BB) pointed out that experience is a tremendous asset.

But I believe it is good for us to share with consumers that the bare minimums in keeping our real estate license is not what it is all about. So make up a handout or make mention of your post licensing education to your prospective clients. Follow through then as they become your clients and apply what you learned in all your classes and for BB through all his experiences so they will want to remain your client for life.

Here's the part of the handout on my training:

Because the industry of real estate is continuously changing, I have scheduled for 2006 the following graduate real estate course work. Almost any one of these courses would fulfill my continuing education requirements
but I want to go way beyond minimum requirements in order to offer my clients the best service possible.

Jan 26-27                Real Estate Investment

Feb 7-8                    Residential Construction

Mar 7                      Environmental & Diversity Issues in Real Estate

Mar 8-9                   Professional Performance

Mar 23-25               Ninja Selling I and II and Ninja Summit

Apr 12                    Business Planning for the Real Estate Professional

Apr 19                    Legal Consideration for the Real Estate Professional

Sep 6                     Modern Real Estate Tech Tools

Sep 7                     Millennium Marketing

Oct 23-25               ABR

Dec 6                     Taxation and the Real Estate Professional

Dec 7                     Finance and the Real Estate Professional

Thanks!
Rob Lang, ABR, 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   http://www.letrobdoit.com/

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.

1 comment • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 10 2006 05:20PM

Listing Presentation Where I Lost All Control

I went to do a listing presentation to an older lady and during the presentation I coughed. She asked, "Is your health well?" I explained that I had bronchitis and was on antibiotics. Had I said I was fine and went on I would not have lost all control of the meeting. The lady started explaining nutrition and bacteria vs virus and what I should be doing to get better. I asked if she was a doctor. She explained that she had almost died from an infection and that her very thorough research helped save her life.

For the next couple of hours she hand wrote all kinds of instructions that are itemized below. I do not give this information as medical advice but to merely illustrate how detailed the instructions were that she gave me. Before reading further I must give the following:

WARNING: Before taking any of the items below or any other medications, consult your doctor. The information that follows is for illustration purposes on how I lost control of a listing presentation. For medical advice, consult your physician.

1) Get A&D vitamins 10,000 mg. Take two with biggest meal of the day.

2) Get Ester C and take 1000 mg with each meal (this item was accompanied by a few paragraphs of additional information such as mice can produce their own Vitamin C but humans can't, too much C may give you diarrhea, will make urine yellower, hospital can give C in an IV, and much more). Ester C should be used when taking large doses of C because it is buffered and regular C would be too hard on your stomach.

3) Meat and dairy create mucous and should be avoided during an infection like bronchitis. Use soy milk and if you have to have meat, have a small amount and make it a very lean meat like turkey.

4) Eat unsalted sunflower seeds.

5) Eat eggs, beans, and nuts.

6) Drink plenty of fluids especially: A) Carrot juice; B) V-8; and C) Lots of Water.

7) Eat sweet potatoes, green peppers, and onions (not together -- just eat them).

8) Take odorless garlic pills.

9) Take apple cider vinegar pills. This one was followed with an explanation that this will help make your body alkaline which helps fight off viral infections.

10) Drink cold cure tea and peppermint tea.

11) Take a good multi-vitamin with food.

12) Take Zinc lozenges (Cold-eeze was what I was already taking and she said that was good).

13) Eat chicken broth and chicken soup.

14) Buy some books: Vitamin C: The Healing Factor; Let's Get Well; The Merck Manual.

15) When course of antibiotics are finished acidophilus pills are needed to put good bacteria back in you for digestion that the antibiotics killed off.

Well the jury is still out as to whether I will get the listing but I have much more energy and am not coughing since following these instructions. Again, this is not an endorsement of taking the items she suggested and again I must write:

WARNING: Before taking any of the items above or any other medications, consult your doctor. The information given in this blog is for illustration purposes on how I lost control of a listing presentation. For medical advice, consult your physician.

The purpose of this blog is to show just one of several ways a listing presentation can go awry. How have you lost all control at a listing presentation?

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.

3 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 10 2006 05:08PM

Open Houses -- Why Bother?

http://activerain.com/blogsview/24271/I-do-not-like inspired this blog but felt my comments were rather lengthy for a simple comment to the existing blog.

When I do open houses for other agents (very seldom), they pay for the ad and I take stuff along with to work on.

When I do open houses for my sellers (also very seldom), I hold the open house for 5 to 15 minutes per home and do the opens all on the same day. I advertise them on a generic http://www.douglascountyopenhouses.com/ website I own so there is no cost involved. My son designs the website and updates the open houses and shown by appointment listings and sells advertising to others in the real estate industry.

I have received buyers from both of these processes but have never sold the home where I held the open house to one of the visitors. I have sold other houses to the visitors. When I explain this to my sellers, they are more than happy not to have me do open houses and do things that are much more productive at producing a buyer for their home.

In summary and in my opinion, open houses are to get buyers for other houses and there are better ways to get buyers than holding open houses. What do you think?

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.

7 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 10 2006 04:03PM

RENTED!! But I've Got More at www.KSLease.com 112 E 10th #A-2, Eudora, KS 66025

Lease 1 or more office spaces in former law office, shared mini-kitchen area, FREE wireless internet, 2 parking areas, shared utilities. This #A-2 unit is 16' x 13'6" and rents for $400.

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.

3 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 07 2006 01:55AM

112 E 10th #A-1, Eudora, KS 66025

RENTED!! But I've Got More at www.KSLease.com

Lease 1 or more office spaces in former law office, shared mini-kitchen area, FREE wireless internet, 2 parking areas, shared utilities. This #A-1 unit is 17'6" x 12' and rents for $400.

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.

1 comment • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 07 2006 01:53AM

112 E 10th #B-3, Eudora, KS 66025

RENTED!! But I've Got More at www.KSLease.com

Lease 1 or more office spaces in former law office, shared mini-kitchen area, FREE wireless internet, 2 parking areas, shared utilities. This #B-3 unit is 13'2" x 15'9" and rents for $300.

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.

3 comments • Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR® • December 07 2006 01:48AM

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