Home prices across KC neighborhoods

KC topics that don't fit anywhere else.
Riverite
Western Auto Lofts
Western Auto Lofts
Posts: 654
Joined: Fri Apr 07, 2017 5:49 pm

Home prices across KC neighborhoods

Post by Riverite »

Not in KC at the moment but curious about the how the lack of supply has driven up prices across different neighborhoods over the less few years. Does anyone know a good resource for that sort of thing?

earthling
One Park Place
One Park Place
Posts: 6579
Joined: Sun Sep 11, 2011 2:27 pm

Re: Home prices across KC neighborhoods

Post by earthling »

One way is to punch in a zipcode in Zillow, select a home and somewhere down the list it should show something like this...

Home values in 64111 have increased 13.7 % (↑) over the past 12 months.

kboish
Broadway Square
Broadway Square
Posts: 2847
Joined: Mon Nov 26, 2007 12:25 am
Location: West Plaza

Re: Home prices across KC neighborhoods

Post by kboish »

I bought a house in West Plaza (64111) in 2014. Price has gone up around 50%. It feels like we keep reaching the top of the price point and then someone lists higher and sells immediately.

I also keep seeing the worst house on the block sell and then get flipped to sell as the highest on the block. Most of the flips look well done. To my south there are a continuous stream of tear down rebuilds

brewcrew1000
Broadway Square
Broadway Square
Posts: 2845
Joined: Fri Feb 11, 2011 10:10 am
Location: Broadway/Gilham according to google maps

Re: Home prices across KC neighborhoods

Post by brewcrew1000 »

It would be interesting to see who is buying in the city, wonder if its mainly out of town people? A place in the city has got to be dirt cheap to someone from The Coasts, hell even cheaper than Chicago or Twin Cities

User avatar
FangKC
City Hall
City Hall
Posts: 15344
Joined: Sat Jul 26, 2003 10:02 pm
Location: Old Northeast -- Indian Mound

Re: Home prices across KC neighborhoods

Post by FangKC »

I've noticed people on my neighborhood FB page complaining about getting constant phone calls and letters from parties wanting to buy their houses. Some are real estate agents and others probably the Ugly House type buyers.

I do look at what house prices are on local real estate sites for my neighborhood and prices have gone up significantly in the past year.

Riverite
Western Auto Lofts
Western Auto Lofts
Posts: 654
Joined: Fri Apr 07, 2017 5:49 pm

Re: Home prices across KC neighborhoods

Post by Riverite »

Thanks for the responses. I’ve been looking at a number of neighborhoods and it does seem insane how fast the prices have raised. Parts of the northeast were especially shocking as it seems they’ve gained more than 20% value in a year

User avatar
KCDowntown
Colonnade
Colonnade
Posts: 920
Joined: Tue Oct 08, 2002 2:17 pm

Re: Home prices across KC neighborhoods

Post by KCDowntown »

My neighbor in PV just sold their house. It was on the market for 2 days - 55 showings, 15 offers - not a typo. It's nuts.

KCDowntown

brewcrew1000
Broadway Square
Broadway Square
Posts: 2845
Joined: Fri Feb 11, 2011 10:10 am
Location: Broadway/Gilham according to google maps

Re: Home prices across KC neighborhoods

Post by brewcrew1000 »

These flippers are probably the reason why it's so hard to find a house. They can purchase in all cash

User avatar
KCtoBrooklyn
Alameda Tower
Alameda Tower
Posts: 1060
Joined: Tue Jan 16, 2007 4:01 pm

Re: Home prices across KC neighborhoods

Post by KCtoBrooklyn »

Yeah, the market is crazy and values are soaring all over the metro.

Here is one interesting example I noticed in my neighborhood of North Hyde Park: 3325 Holmes. A modest 3 bed, 1.5 bath, 1,500 sq ft home, could use some updating/love, on probably the worst block in NHP.

It sold in 2015 for $145k. Looks like the only thing they did is paint the kitchen cabinets. Otherwise, it looks like it might be in worse shape.

They recently listed it for $235k and have it under contract at $260k.

It sold in 2010 for $6k.

https://www.realtor.com/realestateandho ... 2994-82265

I think this one really exemplifies the change in price of "starter homes". Just a few years ago $150k was a good enough budget to get you something decent in parts of Midtown, Waldo, etc. Now, there is hardly anything under $200k, and you are usually looking at over $250k or more.

flyingember
Mark Twain Tower
Mark Twain Tower
Posts: 9144
Joined: Tue Jul 17, 2012 7:54 am

Re: Home prices across KC neighborhoods

Post by flyingember »

KCtoBrooklyn wrote:
Sat May 01, 2021 1:24 pm
Yeah, the market is crazy and values are soaring all over the metro.

Here is one interesting example I noticed in my neighborhood of North Hyde Park: 3325 Holmes. A modest 3 bed, 1.5 bath, 1,500 sq ft home, could use some updating/love, on probably the worst block in NHP.

It sold in 2015 for $145k. Looks like the only thing they did is paint the kitchen cabinets. Otherwise, it looks like it might be in worse shape.

They recently listed it for $235k and have it under contract at $260k.
It's still under priced at $260. With the brick and woodwork inside it should go for $300k

User avatar
beautyfromashes
Oak Tower
Oak Tower
Posts: 5263
Joined: Mon Mar 21, 2005 11:04 am

Re: Home prices across KC neighborhoods

Post by beautyfromashes »

Seeing that prices are starting to rise on the East Side too. The city should be pushing harder for residents who are long term renters to purchase homes while they are still relatively cheap. There is a huge wave of price increases that has already crossed Troost and will soon cross 71. Provide downpayments for those who have lived in the neighborhood a long time, provide remodeling help and give matching funds for redevelopment.

Riverite
Western Auto Lofts
Western Auto Lofts
Posts: 654
Joined: Fri Apr 07, 2017 5:49 pm

Re: Home prices across KC neighborhoods

Post by Riverite »

beautyfromashes wrote:
Mon May 03, 2021 11:21 am
Seeing that prices are starting to rise on the East Side too. The city should be pushing harder for residents who are long term renters to purchase homes while they are still relatively cheap. There is a huge wave of price increases that has already crossed Troost and will soon cross 71. Provide downpayments for those who have lived in the neighborhood a long time, provide remodeling help and give matching funds for redevelopment.
Yes, this is definitely the time to address gentrification of existing residents. I think so many have moved out that we definitely need more people to help with density but that shouldn’t come at the cost of people who have lived there for decades

flyingember
Mark Twain Tower
Mark Twain Tower
Posts: 9144
Joined: Tue Jul 17, 2012 7:54 am

Re: Home prices across KC neighborhoods

Post by flyingember »

beautyfromashes wrote:
Mon May 03, 2021 11:21 am
Seeing that prices are starting to rise on the East Side too. The city should be pushing harder for residents who are long term renters to purchase homes while they are still relatively cheap. There is a huge wave of price increases that has already crossed Troost and will soon cross 71. Provide downpayments for those who have lived in the neighborhood a long time, provide remodeling help and give matching funds for redevelopment.
A rent to own incentives program would be interesting.

Setup where any landlord willing to eventually not own the property gets better incentives from the city.

Allow it to work going forward but also enable a credit for time paid. So if you've rented a home for a decade it counts for both parties.

User avatar
beautyfromashes
Oak Tower
Oak Tower
Posts: 5263
Joined: Mon Mar 21, 2005 11:04 am

Re: Home prices across KC neighborhoods

Post by beautyfromashes »

flyingember wrote:
Tue May 04, 2021 9:52 am

A rent to own incentives program would be interesting.

Setup where any landlord willing to eventually not own the property gets better incentives from the city.

Allow it to work going forward but also enable a credit for time paid. So if you've rented a home for a decade it counts for both parties.
I'd set up a program that flat out paid the down payment. Rents are usually higher than the mortgage payment would be. People just don't have the savings or the qualification to get it. Make it for any neighborhood east of 71 and for any resident who has lived in those neighborhoods for more than five years. Have the mortgage program only available for one year so that it doesn't drive up the cost of properties immediately. Sellers will be motivated to sell before the deadline and buyers motivated to buy quickly. No further red tape. No future residency requirement. No must hold the property for a certain amount of time. Push an urgency to buy now.

flyingember
Mark Twain Tower
Mark Twain Tower
Posts: 9144
Joined: Tue Jul 17, 2012 7:54 am

Re: Home prices across KC neighborhoods

Post by flyingember »

The issue with just paying the down payment is it requires a willing seller.

Sure, some will want to sell, but I bet most will see the regular rent as worthwhile.

shinatoo
Ambassador
Posts: 6675
Joined: Wed Jan 19, 2005 3:20 pm

Re: Home prices across KC neighborhoods

Post by shinatoo »

Doesn't FHA offer zero down home loans?
Quocunque Jeceris Stabit

User avatar
beautyfromashes
Oak Tower
Oak Tower
Posts: 5263
Joined: Mon Mar 21, 2005 11:04 am

Re: Home prices across KC neighborhoods

Post by beautyfromashes »

flyingember wrote:
Tue May 04, 2021 1:21 pm
The issue with just paying the down payment is it requires a willing seller.

Sure, some will want to sell, but I bet most will see the regular rent as worthwhile.
There are already willing sellers of properties on the East Side. I wasn't suggesting renters buying the house they are currently renting, though they could always make an offer. I'm more making a play to get people out of an ES rental and in to an ES owner occupied home.

User avatar
FangKC
City Hall
City Hall
Posts: 15344
Joined: Sat Jul 26, 2003 10:02 pm
Location: Old Northeast -- Indian Mound

Re: Home prices across KC neighborhoods

Post by FangKC »

There is a program to help low-income residents who receive Section 8 vouchers with buying their own homes.

http://www.hakc.org/resident_services/s ... ogram.aspx

And grant programs for down payment assistance.

https://www.beyondhousing.org/lift

User avatar
FangKC
City Hall
City Hall
Posts: 15344
Joined: Sat Jul 26, 2003 10:02 pm
Location: Old Northeast -- Indian Mound

Re: Home prices across KC neighborhoods

Post by FangKC »

Every once in awhile, I see large numbers of rental houses being sold by a single investor/owner on realtor sites. That is an opportunity for some organization to buy all those houses at one time and make them available to those wanting to be homeowners. This keeps them out of the hands of other landlords who keep them as rental housing.

One method of keeping housing affordable to buy these homes and form some sort of land trust where the land under them stays in the trust, and when the homeowner wants to sell, they sell back to the trust at a set (not market) price. This prevents hyper-gentrification of the houses and neighborhood.
Last edited by FangKC on Tue May 04, 2021 11:16 pm, edited 1 time in total.

User avatar
beautyfromashes
Oak Tower
Oak Tower
Posts: 5263
Joined: Mon Mar 21, 2005 11:04 am

Re: Home prices across KC neighborhoods

Post by beautyfromashes »

FangKC wrote:
Tue May 04, 2021 6:36 pm
There is a program to help low-income residents who receive Section 8 vouchers with buying their own homes.

http://www.hakc.org/resident_services/s ... ogram.aspx

And grant programs for down payment assistance.

https://www.beyondhousing.org/lift
Can the city administer these programs or must all applications and information come from individuals? For example, could the city buy homes, get the grant and federal money and sell them to those in vouchers?

Post Reply