By Chad Taylor
Happy belated Fourth of July!
Although this column is running July 5, I felt compelled to offer a few points of thanksgiving this Independence Day week.
Since the first week of 2013, I have been writing positive news about our housing market. And the good news continues today.
Our abundance of inventory in Kansas City has gone from over a year of inventory at its peak to the current level of a little over four months of inventory. Although several areas of the city (including Prairie Village) are in a strong seller’s market, the entire MLS is headed in that same direction as well. That is certainly something to be thankful for.
Unlike several other parts of our country, it makes more financial sense to buy a home in Kansas City than it does to rent. Although values are rebounding, the NEJC real estate market still offers great housing at a great value. We are already seeing an increase in out-of-state investors who are buying up investment properties due to our great values.
Nationally, first-time delinquent home loans have fallen to less than 1 percent of the more than 50 million mortgages nationwide. That is the first time that this number has been below 1 percent since 2007. The continued decrease in first-time delinquencies is not only a strong indicator of our housing recovery, it is also a relief. As a Realtor, it strikes you to the core to see a homeowner who is unable to afford his or her mortgage. I may love this statistic the most!
As I drove down Mission Road yesterday and saw the American Flags lining the street, I could not help but feel thankful for our great country and the strength that I have seen in my fellow Kansas Citians. The housing crash was brutal for a lot of people and their families. I certainly had my fill of conveying bad news to homeowners concerning the value of their home. I am glad that those days are behind us.
Finally, our team is extremely grateful to have the opportunity to work with a diverse group of clients. We have worked with first time home buyers, empty nesters, single parents, newlyweds — and the list goes on. All of these clients have had the same opportunity to buy and/or sell a home. Even in 2013, there are countries where some citizens — frequently women — are not allowed to own a home. I am extremely grateful for this great land of opportunity that we live in, a land that offers opportunity for all.
I hope you all had a happy Fourth of July, and thank you to those who have helped to protect and defend our great country!
This weekly sponsored column is written by Chad Taylor of the Taylor-Made Team and Keller Williams Realty Key Partners, LLC. The Taylor-Made Team consistently performs in the top 3 percent of Realtors in the Heartland MLS. Please submit follow-up questions in the comments section or via email. You can find out more about the Taylor-Made Team on its website. And always feel free to call at 913-825-7540.