Leslie Courtney, owner of Rent KC Now

Rent KC Now offers full service professional property management for condos, townhouses, duplexes and single family homes.  They do not rent apartments.  They work with mid to upper bracket renters, corporate transfers, and people moving to KC looking for a home, but are not ready to purchase a home.  Phone:  913-499-0345.  www.rentkcnow.com.

Leslie Courtney’s TOP 5 Reasons people choose to RENT a home:

  1. Corporate transferees and people moving to KC for career or family reasons will choose to rent until they become familiar with the city and know where they want to buy a permanent home.
  2. Young couples and college graduates who need time to build up their credit rating and/or have not yet saved enough money for a down payment on a home.
  3. People who know they are only going to live in Kansas City for two or three years.
  4. People who, through no fault of their own, have lost their jobs and homes and need time to financially recover from the financial devastation.
  5. People who just don’t want to own a home period! 

Ben Edsall owns Turn-Key Properties, LLC is here in the studio

Ben has been in the real estate business since 1994 and is an accredited Residential Manager.  He  specializes in the management of income producing properties.  Ben has a real estate license and is a licensed broker in both states. 816-313-8876. turnkeyproperties@sbcglobal.net.

Ben Edsall’s TOP 5 Reasons why you should rent instead of buying even in a down market:

  1. Market Instability: The real estate market began heading down several years ago, despite rosy economic forecasts from NAR and others who have a big stake in this game, the numbers have continued to decline.
  2. Shadow Inventory: While there are millions of foreclosed homes on the market, there are yet perhaps millions more that are somewhere in the foreclosure process that haven’t hit the market yet. The lenders and others with much to lose from declining housing prices are simply not putting them on the market because greater supply will only serve to further reduce the value.
  3. You’re Stuck: So you found the home of your dreams, you buy it with a 15 or 30 year note planning that you and the whole family will stay there until you retire. But the job moves you to the West Coast, you lose your job, you get divorced, you get married, you have kids and outgrow the house or something else pops up! …. Now what? Thirty percent of the homes in the neighborhood are also on the market and with declining values you can’t sell it so now you become part of the foreclosure mess.
  4. Freedom: You wanted to go fishing, but the basement flooded, you planned a vacation but the roof started leaking, you were offered a better job but it was 200 miles away! You are tied to that home with little hope of selling it in a timely manner and you are responsible for the repairs. If you were renting, you could have just called the landlord and gotten the stuff fixed while you went fishing or taken that higher paying job and worked out a deal to end your lease!
  5. Debt: While it used to be a sign of stability to show a mortgage on your credit rating, things have changed. Lenders and the big three credit reporting agencies are now looking harder at income to debt ratios and are less likely to give you favorable interest rates if your numbers don’t line up. So that boat you could have been fishing out of if you weren’t pulling soaking wet carpet out of the basement or that truck you wanted to haul the shingles home in for your new roof might not be attainable as a result of your mortgage debt.Continue reading on Examiner.com Top 5 reasons you should still rent a home instead of buying one – Kansas City Real Estate | Examiner.com http://www.examiner.com/real-estate-in-kansas-city/top-5-reasons-you-should-still-rent-a-home-instead-of-buying-one#ixzz1T8RTYH9x

David Conderman, The Conderman Group, Keller Williams Key Partners

The Conderman Group specializing in Johnson and Jackson County, especially the “Close-In” market from Downtown to Old Leawood; residential, new construction, rehabs and rebuilds. 913-825-1111, condermangroup.com/fivestar.htm

BUYING INSTEAD OF RENTING!

  1. With today’s interest rates, it’s almost as cheap to own as it is to rent.
    1. According to a recent study by the Associated Press, the gap between monthly mortgage payments on a median-priced home and the median rent has decreased from $777 to just $221 in the last three years.
    2. Buyers can purchase homes with little or no down payment. Qualified buyers may be eligible for a Federal Housing Administration Loan (FHA), which requires only a down payment of 3.5%.
    3. There are other good options for those with low down payments.
  2. Affordability is at an all-time high.
    1. In markets across the nation, prices have declined from 20% to 40% from their all-time highs.
    2. In many cases Buyers can find homes for “Penny’s on the Dollar” versus prices of only a few years ago.
  3. Tax Savings
    1. Homeowners can be eligible for significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax, as well as many states’ income taxes. Because the first few years of mortgage payments are made up mostly of interest and taxes, this can be a considerable tax benefit.
  4. Equity
    1. Instead of payments disappearing into someone else’s pocket, home owners are building equity in their own home, often their biggest investment asset. Each year that you own the home you pay more toward the principal, which is money you will get back when the home sells. It is like having a scheduled savings account that grows faster the longer you have it. If the property appreciates, and even in today’s market we are seeing some appreciation, you are the one who gets to take advantage of that, not the landlord.
    2. You can use equity to plan for future goals like your child’s education or your retirement.
  5. It is yours!
    1. When you own a home you are in control. You have the freedom to decorate it and landscape it any way you wish. You can have a pet or two. No one can pop in and inspect your home and threaten to evict you.
    2. It feels good to own your own home. After all, you can paint it any color you want, make improvements, and plant a little garden.
    3. With your very own home, you no longer have to fret about irate landlords or rent increases every so often. You will most likely have an idea of what your mortgage fee would be like for years, so you can have a measure of emotional security in that, instead of continuously worrying.
    4. Decorate or renovate.  It’s your house, so it’s your call. Add your personal touch to every corner of your home, or hire a designer for that professional flair. You can do whatever you want, and you only have yourself (and the people you live with) to consult.
    5. Being a home owner makes you more established in many things. You can seriously get to know your neighbors, or let your kids meet new buddies at the park. Many people don’t consider such things when they’re renting.
    6. As a local homeowner, you can have more say in matters like school issues and traffic regulations.