Urban KC Living Real Estate Blog

Melrose Corner is opening it's doors in the West Plaza

I was lucky enough to attend the Melrose Corner opening and was pleasantly surprised so I thought I would share...

The two building development, Melrose Corner, is located in West Plaza. This is just a few walkable blocks from the Country Club Plaza. This new to the market development offers many features that today's buyer is looking for!

There are three prepackaged upgrade options you can choose from in their one bedrooms condos.

The Malibu one bedrooms are offered at $99,950. This finish package is pretty much "as is". However, they are very clean and they shine. Great for the first time homebuyer.

The Beverly is offered moderately at $114,950 and offers many updates. The model condo in this finish is very light and airy in colors with white kitchen cabinets.

The fully upgraded Hollywood one bedrooms are offered at $129,950.

You do have the option to pick and choose your finishes and the level of finish in your unique home.

They also have a few two bedrooms condos said to be offered at $189,950.

Gated parking, balconies, in unit laundry, and an outdoor common area grilling space are just a few features to mention.

For your private tour, please contact me at 816.377.6389 or AJ@urbanKCliving.com.

Melrose Corner is marketed exclusively by Chartwell Realty.

Power and Light District to open a Green Roof & Park

The Kansas City Power & Light District has announced that they will soon be opening a Green Roof & Park. This area is to be around 1/2 acre and will be open during daylight hours. Urbanites will soon be able to enjoy their lunch break or relax after work in this green concious environment. The park will be opening soon just north of Cosentino's Market at the corner of 12th Street and Main. See you on the roof this summer!

Do you know what your Kansas City neighborhood "WalkScore" is?

 Kansas City has always been a city built around the automobile. However, more and more Kansas City neighborhoods are obtaining walkable status. Do you know what your current neighborhood rating is? It may be a good time to consider moving to one of the top 4 "Walker Paradise" locations. Read more on WalkScore here.

2009 First Time Home Buyer Tax Credit, Explained

Many buyers have come to me with questions on the details of the 2009 first time home buyer tax credit. The National Association of Realtors has kindly put together a user friendly powerpoint presentation that explains the new credit in detail.

For the FREE presentation, click here. I look forward to helping you wish any questions you may have!!

*It is recommended to consult your accountant for specific details and your own person situation*

How To Get Your $8K First Time Home Buyer Tax Credit At Close!!!

The $8,000 first time home buyer tax credit was passed this past week. This new credit is of great value. Why? You don't have to pay it back!!!

You may ask, how is this going to help me? I need the money at close!!

The Missouri Housing Development Commission has rolled out a Tax Credit Advance Loan Program. I will be following up on this post with additional information in the next few days. In the meantime, check out their brochure and website!!

Download TCAL_Brochure

Website

Cosentino's Brings It - Urban Style

 

The extremely welcomed Downtown KC grocery store has its doors open in the heart of the Urban Core!

For those Urbanites that take their lunch break downtown or who have made Downtown Kansas City their home, Cosentino's didn't come any too soon!!

You can park in the garage parking area, take a short elevator trip down a floor and the doors open in front of you to reveal the ultimate grocery shopping experience. Don't forget to get your parking pass validated at check out!!

The two story floor plan offers an area to pick up gourmet prepared food, generous isle space with all of your favorites and must haves, a section for those events you host at home (yes, alcohol - complete with a wine tasting section), and an upstairs that offers lounge space for a quick meeting or a place to study.

My first trip to the Downtown grocery store had me grinning from ear to ear and I will be venturing back often.

See you there!!!

MHDC announces a new program to maximize the benefits of the First Time Home Buyer Tax Credit

The Missouri Housing Development Commission has released a new program that will maximize the First Time Home Buyer Tax Credit if you hurry!

As most of you have heard, the First Time Home Buyer Tax Credit is currently scheduled to run through June 30, 2009. You still have time! (Link)

In addition, first time home buyers need to know this new news release. MHDC is working to get you the credit at close - not when filing your taxes! Here is how it will work...

*The following information is taken from www.mhdc.com. Please visit www.mhdc.com for additional information.*

First-time homebuyers receive a tax credit worth 10% of their home purchase, up to $7,500. The credit is claimed on the homebuyer’s federal tax returns. The credit is refundable, which means that the homebuyer receives a refund for the amount of the credit minus any federal tax liability. The credit is essentially an interest-free loan from the federal government and must be repaid through an increase in federal income taxes over a period of 15 years.

How the MHDC Tax Credit Advance Loan Program Works:
 

MHDC makes a second mortgage to the homebuyer at the time of closing worth up to 6% of the home purchase price or a maximum of $6,750, which is used to cover downpayment and closing costs. The tax credit advance loan is paired with MHDC financing for the first mortgage in the form of a safe 30 year, fixed rate mortgage. The homebuyer then files for the federal tax credit and uses the credit refund to pay off the MHDC tax credit advance loan. If the tax credit advance loan is paid off by the designated deadline (no later than June, 2010), the homeowner pays no interest other than a modest servicing fee. If the tax credit advance loan is not paid in full by the deadline, principal and interest payments to repay the loan over 10 years begin automatically.

MHDC loan programs are available for households with incomes up to $85,500.

The federal tax credit and the MHDC tax credit advance loan program are both currently set to expire June 30, 2009.

 

 

P&L District to host Scion Open

If you have been to the Power and Light District, you know that the "Live" Block is unique in itself. Wait until you hear this one! On Saturday February 7th, the Live Block will be transformed into the most exciting snowboard tournament to hit the Midwest!!

The P&L District will be the final stop of the 2009 Scion Open Snowboarding Event.

There will be a ramp that is approximately one and a half stories high, fifty feet wide, and one hundred feet long in the Urban Core of Downtown KC. And you thought that the new grocery store opening was something to talk about!

For additional information please visit the following links:

Midwest Scion Events

and

Power and Light District Events

Remodeling Do's and Don'ts

So you may be thinking "has my home lost value since I purchased it?" Should I invest anything into my home if I am planning on selling it within a year? According to the December issue or REALTOR magazine, exterior projects are the way to go.

Spend that hard earned dollar on the outside of the home to see the greatest return. When buyers pull up to your home to look at it when it's listed, they will make a decision in a matter of seconds as to if they wish to live there. Also, if you are not looking to sell your home for a while, wouldn't you like to make the exterior more inviting when you get home from a long days work? I believe if you are going to spend any money on your home before you sell it, you should also get to enjoy it for a while!!

Decks, siding and window's made the top of the list for exterior remodeling projects that pay off according to REALTOR.

Oh and don't forget, if you are looking to do interior remodeling, kitchens are #1 with bathrooms coming in at #2.

For more information on returns in your investments, contact me at aj@urbanKCliving.com.

Kansas City - Are you looking for a new home or do you have a vision?

As a full time REALTOR in the greater Kansas City area, I have seen a change in what a large percent of my clients are looking for in their new home. New home sales were high in numbers in years past. Now, some new home subdivisions are seeing an impact as trends change. What are Kansas City buyer's looking for?

When I first got into real estate, the majority of my clients were looking for a common search criteria to include: granite, stainless steel, and amenities galore. Now I am seeing a new trend. My clients seem to be looking for the 'best deal' and are buying homes that need little to ALOT of work. Buyers of today have a more 'do it themselves' attitude. They are not afraid of a little hard work to make a home what they truly want in the end and really can take pride in ownership.

Where does this place some of the KC new home subdivisions? Some promised pools, walking trails, etc. Now, with new home sales down, some developers have pulled out temporarily or permanently (for some, the bank gave them little choice). This is leaving a few subdivisions looking unfinished. For some buyers, they wanted great finishes and what I like to call 'turn key' homes. Now they are living next to an empty lot with weeds growing up in them (the truth hurts).

The moving trend in buyers to buy more 'as is' and wanting to get a GREAT deal is becoming more common, especially with people moving to urban areas. Even when dealing with clients buying condos and lofts, if given the option, the majority are buying 'as is' which may include apartment grade updates.

I want to express many new home subdivisions are doing very well and are keeping promises to their buyers. There are only a select few that may have let their buyers down - not on purpose. Also noted, I bought a fully updated condo with all of the 'fixings' because I am not handy and my condominium complex has done very well.

But if you are ready for the adventure, I think this new trend of 'fixing it up yourself' is fantastic. As the KC Urban Core is my passion, I love to see homes and even entire areas being brought back to life. This is not without a lot of sweat and tears - good job buyers!!!

I look forward to your comments!