THE INDEXKC- KANSAS CITY INDEPENDENCE LEES SUMMIT MARKET UPDATE
Weekly KC Metro Market Update
Dan and Amber were exhausted last April….Running from open houses to showings, then back and forth to other weekday activites had run them ragged. “I’m sick and tired of getting to these homes too late to get involved, on top of this our rent is going up”, a frustrated Amber blurted out. Dan felt the same way, and so they’d decided to go month to month and stay in their Lee’s Summit apartment. Low mortgage rates increased competition last April, and current rates had driven much of their competition to the sidelines. Now they feel like they have the upper hand, and the opportuity to slow their pace and still find their forever home without the fear of missing out.
Amber undertsands the market has moved away from multiple offers….Dan had lost his feelings of overwhelm and is getting excited about their Independence home search. As well prepared borrrowers, they don’t have a home to sell and are feeling really positive about their purchase this time around. Their Realtor had mentioned more than once….”The interst rate on renting is 100%; we’re looking at a much more reasonable 7% mortgage for a fixed rate on a 30 year note.”
Dan is pumped: “No more rent increases!”
If you’ve got questions regarding the impact of the shift on your search or the value of your home, we’ve got answers! Click the button below and let’s get you the information you need to be successful!