Overland Park, Prairie Village, Lenexa, Olathe Blog

     In the current economy, fewer and fewer fans are willing to pay $100 for NFL team tickets. This has caused the NFL to enforce local cable blackouts in many different markets for the first time in nearly 20 years. These blackouts effectively block anyone within a 75 mile radius of the local team from viewing the game on their local cable tv. For the Kansas City Chiefs, who let's just say have had a rough couple of seasons, had their November 8th game against the Jaguars  blacked out in the Jacksonville area, as was the November 15th game against the Raiders.The San Diego Chargers had to rush to sell tickets at the last second for it to be televised in San Diego on November 29th. With the help of an extension, the Chiefs sold enough tickets to televise the Buffalo Bills game. Last week The Chiefs home game was blacked out in Kansas City.In the Chiefs past seven games, there have been three blackouts and two extensions granted. The remaining two, Denver Broncos and Pittsburgh Steelers in Kansas City, were close to not having enough ticket sales. The NFL organization has prospered for the past 20 years and now, when the going gets tough, the NFL plays hardball.

I think the picture below describes how I feel.We have already gotten close to a foot of snow this holiday. First time in more than 20 years. 

It was a long, rough year for the real estate market and next year probably will not be much better. I'm sure with all the spending we have planned for the coming years, it will most likely cause inflation because the excess suply of currency will lower the purchasing power of $1. The Federal Reserve aka "The Fed" has promised to fight inflation at all costs, and the way they fight inflation is by raising interest rates which thereby lowers the overall supply of dollars. Lowering the supply of dollars effectively raises the value of the remaining dollars left in circulation. In the 80's an interest rate on a home loan of 15% was considered phenominal.  Rates are now around 5%, an all time low. I would not be surprised to see rates climb to close to 10% in the next 5 years. Many people may not realise the full impact that would have on the real estate market and economy in general. For Sellers, that means the pool of buyers will be significaly lower. For buyers, this will significantly reduce your purchase power, making your loan payment much higher each month. My intention is not to be negative, but realistic and I'm am very positive about growth in the 5-10 year range.

FHA loans are a popular loan to go with because of the low down payment (3.5%)With all the foreclosures on the market here in Kansas City, there are a lot of houses on the market that do not meet FHA requirements(FHA requires the home be in move in condition, etc.). I recently ran into such a house when representing a friend purchasing a home. The house had mold and water damage in the basement and a roof that needs to be replaced. We were able to clean all the water and mold out of the basement, so the only thing preventing it from going FHA was the roof. Major road block or so we thought. With the FHA 203K program, my friend is able to get a construction loan to fix the roof and he will get a fantastic house for a fantastic price. The FHA loans add significant extra costs to the price of your loan, so it may only be worth it if the house is priced low enough and you are confident there are no other major problems. I would recommend these loans to folks in a similar situation.

Mission Woods: Located just north of Mission Hills and south of Westwood Hills on a 40 acre home site of the late William McKenzie Johnson, son of the county's namesake, Rev. Thomas Johnson, the city bears a name reflecting its wooded environment and the missions established there in the early to mid-1800s by the Methodists. Baptists and Quakers. The area was developed by J.C. Nichols Company in the 1930s as part of the residential expansion across the state line.

Phones seem to be changing faster than I can keep up with it. However, I got my first smart phone last year. My Palm Treo is awful. I hate it and think it is maybe the worst phone I have ever had. The intrigue of being able to easily make calls, text, surf the web, and retrieve emails on the go is too strong though and I decided to go with another smart phone. The new Blackberry Curve 8530 is pretty neat. Its processor and memroy are much faster than my Treo and ealier versions of the Curve.  and it is a little more business oriented.

 I would rate this phone 5/5, but then again anything looks good when compared to the Palm Treo.

Prairie Village and more specifically Prairie Hills has not been as affected as surrounding areas by the soft real estate market. Laura and I live in this subdivision and we absolutely love the area. There are plenty of parks, walking paths, shopping centers, and restaurants. There is an abundance of golf courses nearby. The neighbors are friendly and helpful.  It's nice to bike or jog to the Plaza through Mission Hills. There are mature trees, manicured grounds, statues, and lots of flowers. It really pretty, especially in the spring. The crime is low and police are very responsive. It's a great place to raise a family and start a business.

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