What to look for in an Overland Park Condo - A Case Study & Testimonial for The Bubb Cribb Team @ Reece & Nichols!

Nothing says "Thank You" as much as the words themselves, but let me tell you a brief story...

• I found this lead from someone that knew a ton of other REALTORS, but my brother, Russell Cribb, said to her - Laura (Via www.facebook.com) you should talk to my brother he will take care of you!  This started our great match and eventual perfect sale...

• Laura made offers and started negotiations on 4 separate condos before she found the perfect one - I am happy to see that she has found a great home and we were able to deliver it to her... we had her under contract on another property, but simply put - the other agents did not fill their end of the negotiations bargain and we had to find a new place.

• We reviewed and looked at many a unit and location, some had good parking, but bad bones, some had a good kitchen, but stairs up and down everywhere, some didn't feel kept up as a community, and others just were not a good fit for our buyer.  We looked high and low, my business partner Eric Bubb and I were a bit stumped after not finding a great deal for Laura Blair, but we took a time out.

• YES - A TIME OUT - We let the inventory change, let the market change a bit and we started fresh to find the right place.  The 2nd round didn't finish quickly, but we did find a great place that fit what Laura was looking for and I am proud to say we closed last week (see video below).

5 Star Review on www.zillow.com - "Chris Cribb and The Bubb Cribb Team were great to work with as well as the financing partners and inspectors they recommended.  I felt like I had a whole team working for me.  They got to know what I was looking for in a home and even helped me walk away from a couple that I thought were 'pretty' but would have ended up being a money pit.  I felt like they were on my side and looking out for my interest.  They made the process much less stressful for me; Plus - they were just fun!" - Laura Blair

• When thinking Condos in #OverlandPark think about a few things first...

• HOA - What is the Home Owners Association Dues and what does it cover?  Think about the following items:
• Heat - Gas or Electric are either included in your HOA payment?
• Trash - For the building & Grounds - Does this include sewer?
• High efficiency windows, attic insulation  (Yes or No) - What is the usual cost to handle these items / do they need repair?
• Who takes care of the roof, the common areas, landscape design, amenities / pool, etc.?
• Snow Removal - Winter Weather - are you prepared?
• Parking -are 0 spots, 1 spot, 2 spots included? How much to park if you don't have the facilities and where do you do it?  
• Deferred Maintenance - Is the ENTIRE BUILDING in good shape, does it need things like a new elevator, laundry room, windows, common area carpet... these items always lead to higher HOA's but they can be negotiated if you have a great buyers agent like "The Bubb Cribb Team"!
• Resale Value - What is happening around your area and unit - will the area help bring up the resale value or not?
• Where do I want to be?  - The most important, where do I want to be to spend my time and connect with my neighbors, an apartment is one thing, but when you invest in a condo you will be there for a while, make sure you understand and are happy with your community and what you get to be involved with.

• One amazing thing that I thought I should for sure share with my friends and readers is that there are a couple tools that Paint companies have recently made that allow you to take a picture, upload it to their website and then change the look and feel of what paint you think might look good in the room.  I know Laura and her be'sties have been hard at work on painting her condo and you should see the results... take a look at The Bubb Cribb Team Facebook Page to see some before and after shots, I attached one you will be impressed.  The great item that allowed this to happen was the following companies:

• Valspar - Go to the site and Choose Virtual Painter - upload your own picture and you can check new colors for your kitchen and much, much more 

• Sherman Williams - Choose the "Chip It" program to virtually look at one of your own pictures with all of the Sherman Williams pallet ready to assist you.

Just a couple final things to point out...

1) This was a #ShortSale and it closed within the timeframe established with NO PROBLEMS.

2) The buyer was one of the first people in the State of KS to be able to take advantage of their new "1st Time Homebuyer Grant Program" - for more information check out our partner, Matt Goodwin at Cornerstone Home Lending as they are on the inside track as one of the first 21 companies in KS registered to work with US Bank on this program!

3) As a buyer - Laura actually got MONEY BACK at closing... I have heard of times where things were close to a "wash", but there was actually a significant check ready for Laura at closing that she then can use for appliances, painting, whatever she likes.  No need to bring your checkbook or a huge certified check if you do it right they might be paying you!  For more information on this great program check out this website and tell them The Bubb Cribb Team sent you!  

If you are looking to sell and list your home or to put an offer in on a new home, now is the time and the Bubb Cribb Team would love to help you!

The Bubb Cribb Team at Reece & Nichols would love to be your neighborhood experts in buying or selling your home in any part of Kansas City.  We have great area specialists in Union Hill, Hyde Park, Brookside, Sunset Hills, Waldo, Mission Hills, Prairie Village, Overland Park, Fairway, Leawood, Kansas City North, Lees' Summit and more; please contact Christopher Cribb, Megan Bubb Cribb or Eric Bubb for assistance!

Christopher Cribb - The Bubb Cribb Team 
Reece & Nichols - Southgate  Direct Line 913.239.2023

KC Real Estate Tips - Three Reasons You Should Write That Offer TODAY!

Three Reasons You Should Write A Real Estate Offer Today - don't waste a moment or you may loose your dream home!

Do you really need to write the offer today?  As an experienced real estate team of agents, we must confirm that we have seen people lose the house of their dreams because they waited just one day.  

Yes, hesitating just one day in a high demand area can make the difference!

I hate that this market demands that buyers make decisions so quickly, but it is my job to let you know what the market is actually like.  The last thing I ever want to do is to rush any client. We have seen the disappointment that can result when someone misses out on a truly exceptional home, and I am working to be proactive instead of reactive.  Simply put, well priced homes move FAST in Kansas City / Prairie Village / Leawood / Fairway / Brookside. 

If you are not willing to act swiftly, your competition for the home may be.  It’s can be devastating to lose a great house because the offer did not get in fast enough, but it does happen – more often than you think.  On the flip side, we have also had our clients win out because other buyers have hesitated and they did not.   Accordingly, when the house is the right house, I do encourage my clients to act swiftly.  To ensure you are ready to go when "your house" comes on the market, be sure to be PREAPPROVED with a great lender.  Use a lender you trust, they will be your partner throughout this sale process and you need to ensure they are working for you.

The following are three reasons why it may be important for you to write the offer today:

1)  Avoiding a bidding war / Get a better price!  Sometimes if you get an offer in quickly, you will be able to get it accepted quickly at a slightly lower price than if you waited and the situation became a bidding war. We have seen this often occur with REOs (foreclosures).  Take this as an example how about your client’s offer is the first offer, gets put into the computer portal that evening before the REO agent leaves the office, and the next morning when they check their email, it is already accepted.  Gone.  Our client is celebrating as the 10 other higher offers that poured in that evening and the next day are put aside, the deal is done and you won! 

2)  They just did a price reduction!  When a seller does a price reduction it is highlighted for those searching for a home.  With most MLS systems and specifically both our Reece & Nichols system and Heartland MLS, an automatic email alert will be sent to buyers who are actively looking for that type of home, and the home will appear in the “hot sheet” search that most buyer’s agents run first thing every morning.  Even a modest price reduction can dramatically increase the attention that a listing receives.  If the price is now appealing, or you think the owner will now be receptive to your offer, get that offer in quickly before someone else has the same idea. 

3)  Your offer may deter other buyers!  Buyers dislike bidding wars, so many will shy away from a home with an offer already on it. With thanksgiving "Black Friday" around the corner think, would you rather fight with 20 others for 1 TV or be the first in line to get it.  In our Kansas City market, buyers are not expecting bidding wars, unless the property is EXCEPTIONAL!  Often the presence of another offer will make buyers and their agents shy away.  Accordingly, your early offer may keep others from even bidding.  (Note this does not hold true for low ball offers, if you submit a low ball offer, the listing agent will simply tell other buyer’s agents that the offer they have in hand is low and it will not generally deter other buyers from bidding.)

If you are looking to sell and list your home or to put an offer in on a new home, now is the time and the Bubb Cribb Team would love to help you!

The Bubb Cribb Team at Reece & Nichols would love to be your neighborhood experts in buying or selling your home in the stalwart Kansas City locations, of Union Hill, Hyde Park, Brookside, Sunset Hills, Waldo, Mission Hills, Prairie Village, Overland Park, Fairway, Leawood and more; please contact Christopher Cribb, Megan Bubb Cribb or Eric Bubb for assistance!

Christopher Cribb - The Bubb Cribb Team 
Reece & Nichols - Southgate  Direct Line 913.239.2023

PMI - Private Mortgage Insurance - Pay Down Your Debt & Remove This Added Expense

Let's talk PMI

PMI literally is defined as Private Mortgage Insurance and is typically required to be purchased when a buyer puts less than 20% down on a property for sale.  Paying a premium is not a problem in many cases and it allows buyers to purchase now instead of waiting until they have more money for a down payment. Today we will dig a layer deeper with our friends at http://currentmortgagerates.org - as they have some good ideas and help to understand PMI and your rights.

Sometimes the housing market changes radically and you end up paying mortgage on a home that has lost significant market value since it was purchased. This situation has become very common in the last few years, since the housing bubble burst and the US went into a recession. Many home owners have found themselves having to make the same large monthly payment on a home that is worth much less than before the recession. When this happens, homes become really hard to sell because their value is less than what the owners owe on their mortgages. Because of this, many homes were classified as distressed, creating large financial problems for home owners who wish to sell. Being underwater on your mortgage and having to pay Private Mortgage Insurance on top of the high monthly payments makes it very difficult for home owners to keep their home. Abandoning the home and buying another one, which will have a lower monthly payment, seems like a better alternative (please keep in mind you do have options)!

The Homeowners Protection Act of 1998 states that Private Mortgage Insurance can be canceled when you reach 20 percent equity in your home.  When the equity in your home reaches 22 percent, PMI should be dropped automatically, but many times lenders don't remove the policy until they are reminded.  Unfortunately, many home owners don't know this.  If you are underwater on your mortgage, this doesn't have to factor in the process and you can have your PMI canceled; if you qualify.

Qualifying to have your PMI Canceled You Need:

• The equity in your home has to be 20 percent or larger.

• Your monthly mortgage payments must be up to date with no missed payments.

NO MISSED PAYMENTS!

• Some lenders require that you do not have any late mortgage payments in the last 6 months.

• You must have been the owner of the home for at least 2 years.

• There must not be any second liens on your property, such as a home equity loan / line of credit or a second mortgage.

• The property must not be a vacation home.

NO VACATION HOMES!

The corresponding national laws states that the Private Mortgage Insurance must be canceled once the equity in your home reaches 22 percent.  This is the reality, but you must be prepared to have a difficult time getting your lender to actually do it.  Similar to using a great discount coupon, a retailer will let you do it, but they aren't necessarily going to call you and tell you that the coupon is available. You likely may have to send them several documents related to your mortgage and a letter requesting the cancellation. Your lender has all of this information already, so this is done mostly to prove to them that you are an informed customer. We all are looking for ways to save money on a day to day basis &  fortunately, by canceling your Private Mortgage Insurance you can free up some much needed cash, which will certainly make your life easier!

Have a great week & if you know anyone in need of more information about getting out from under PMI once you reach the necessary threshold, we can help!

Christopher Cribb - The Bubb Cribb Team 
Reece & Nichols - Southgate  Direct Line 913.239.2023

10 Things You Should Clean--But Don't

You touch it. Other people touch it. But do you ever clean it?

We're talking about everyday items that most people never think to swab down, such as credit cards, ceiling fans and toilet paper holders.  In conjunction with The Huffington Post  we assembled a list of the top 10 most dirty, dusty, and germ ridden places in your home and how to clean them.

Print this out! It's your weekend to-do list.

1. Credit/Debit Cards - You're not the only one handling your credit and debit cards. Other people touch them, too--and who knows when they last washed their hands or what they touched five minutes ago. Even if you only swipe your card and never hand it over, what is lurking inside that card-swipe machine or ATM? Grab some disinfectant wipes and take a minute or two to clean your credit cards. Do let them dry completely before returning them to your wallet.


2. Electronics - Your electronics--from your cell phone to your e-reader--are coated in germs and the level of contamination is horrible. Some studies show cell phones contain 18 times more germs than toilet handles. Swab them down with disinfectant wipes.

3. Toothbrush Holders - Want to see something gross? Take your toothbrush out of the holder and peer inside. Do you see mold? Discoloration? Grime? That could end up in your mouth! Pour a solution of one part bleach and three parts water into the toothbrush holder and let it soak for an hour. Rinse and dry upside down on a dish rack.

4. The Bottom of Throw Rugs - This is easy and fast to do and will help keep your wood floors cleaner for a longer time. When vacuuming, turn over the throw rugs and vacuum the underside.

5. The Top of Large Appliances - They're too tall for you to see it with a step stool, but the top of your refrigerator, stove vents and other big appliances are dusty and grimy on top. Wipe down the surfaces with white vinegar and rinse with a water-lemon mixture. Dry it with a clean cloth. If you can move them, do the same thing with the bottom of the appliances.

6. Ceiling Fans - Pull out a ladder and look at the top of your ceiling fans. Chances are, there is a thick layer of dust on them, which could contain residue particles that resemble mold on ripe fruit. Turn on the fan, and those particles are dispersed throughout the room. To clean the top of the ceiling fan, put two tablespoons of white vinegar and water in a spray bottle. Spritz the solution into an old pillowcase. Insert the pillowcase around the fan blade and drag the bag along the bag's surface. This will collect and clean the dust. Use a clean cloth to clean up anything that remains on the blades.

7. Toilet Roll Holders - When you flush the commode, water inside the toilet bowl is sprayed around the area--including the toilet roll holder. Disinfect it once a month with a sanitizing wipe or clean it with a bleach and water solution.

8. Box Springs - Ever look underneath your bed? Chances are the box spring is covered in dust. It's easy to clean with a vacuum hose.

9. Light Switches - Bacteria is easily and quickly transferred from person to person in your home just by touching the light switches. Spray rubbing alcohol or an all-purpose cleaner into a clean cloth and wipe the switch and plate until they are clean and grease-free.

10. Salt and Pepper Shakers - When the salt and pepper shakers are empty, clean them in the dishwasher before refilling them. These common household items are known to contain the highest concentrations of germs that cause cold and flu viruses. Between washing's, use disinfectant wipes to sanitize the outside surface.

Have a great day and stay clean!

Christopher Cribb - The Bubb Cribb Team 
Reece & Nichols - Southgate  Direct Line 913.239.2023