What You Need to Know about Real Estate in 2022

My state of the real estate market address

The post-pandemic future of Covid and real estate in 2022 is uncertain. No one can definitely predict what’s going to happen this year, but as a 15-year winner and recipient of the 2022 Five Star Professional Real Estate Agent award in Kansas City and Overland Park, I want to address the 3 most important things for sure.

The top 3 things that matter for home sellers and home buyers

  1. Inventory
  2. Interest rates
  3. Prices

Real estate in 2022

Let’s get down to it. There is always speculation, but in my opinion, the only things that matter in real estate start with inventory. If I could just get those baby boomers moving on down the road, it would open up a whole lot of inventory. But boomers are typically stubborn and if they’re not ready, they are not going anywhere. I will continue to try by educating them on the benefits of downsizing and selling their homes while they still can.

Is there even any housing inventory out there?

As in previous years, there is still such a lack of inventory, so I predict buyers will be in the same situation when trying to buy real estate in 2022. For every house that comes on the market, there are at least 10 if not 50 buyers (depending on the price range) who want to buy it.

For example, I had a cute little 50-year-old home that had never had any updates. In other words, picture grandma’s house if you will. It was extremely well maintained but had lots of wallpaper, old, stained carpet, heavy drapes, and an outdated kitchen with mismatched appliances and original bathrooms with colorful tile. But it also was in a great neighborhood, had virgin hardwood floors under the carpet, a nice big eat-in kitchen, a spacious newer deck that overlooked the fenced backyard, and came with an older washer and dryer! After looking at the comparable houses that had recently sold in that neighborhood, we priced it at $215,000 which is exactly where we felt it was worth. I had over 70 showings, over 20 offers and it sold for $254,000. It sold for $39,000 over the asking price, had no inspections, and closed in 10 days.

My point being, yes there is inventory but when you have 70 showings on one house, there are obviously more buyers than houses for sale.

Interest rates

It’s a well-known fact that The Federal Reserve is expected to raise mortgage interest rates several times in 2022. It is predicted that interest rates will rise to at least 3.5% by year-end. Now granted, that’s not a lot considering I bought a house in the ’80s at 16.75%.

But for today’s buyers, for rates to go up even half a point can affect what they qualify for when buying a home. As a result, even at a 3.5% interest rate, that shouldn’t keep buyers from wanting to get into a house. But those carry-over buyers that didn’t get a house in 2021, will find their buying power at a higher interest rate will give them less to spend. That is unless they were able to save additional money in 2021.

Another real-life situation is I have some buyers that wrote a new construction contract in January of 2021. Well, needless to say, their home was supposed to be finished and closed in December. However, due to supply shortages, delivery issues, and now with so many workers out with Covid, the best guess for completion is now mid-April. And that date is a moving target.

Prices

Oh, those prices…what will buyers be willing to pay in 2022? WIT – whatever it takes. Buyers want what they want and many are sick and tired of not being able to become homeowners.

What are their options? Potential homebuyers are sick and tired of paying rent which continues to increase. Landlords know they are in the driver’s seat and can charge overinflated prices for rent because they can. The average rent increases 10% a year. I am working with some buyers who are paying top dollar for a rental house at $2,400 a month. That’s almost $30,000 a year for rent. They told me they are willing to pay $30,000 over the asking price for a house since that’s what they will be forking out in the next year if they continue to have to pay rent.

In conclusion

Real estate in 2022 will be a big year for many people. It’s my belief, after 2 years of Covid, people are desiring to be closer to their families so inventory may be a bit higher than in 2021. I already have many clients who have told me they will be selling this year to move closer to family.

My best guess is we will remain in a seller’s market throughout 2022. Buyers will continue to make multiple offers and pay way over the asking price for at least another year.

What are your options?

If you’re selling…

If you’re considering selling your home in 2022 you should be educated and know how real estate has changed. Have a plan to sell. Don’t call one of those companies who will sell your house with no showings or whatever they tell you to make you bite. All of those companies that pop up when there is an opportunity in the marketplace should be thoroughly scrutinized.

I’ve been selling real estate for 35 years and there have been so many gimmick and pop-up companies over the years. At the end of the day, real estate has existed well over 100 years and I tell my sellers that no one will get them more money than I will with 35 years of negotiating skills. Real estate lessons come from experience. My services will pay for themselves.

Would you like to know the real estate activity in your neighborhood? I have a great tool for that. You can simply put in your address and it immediately pulls up your subdivision so you can take a closer look at what houses like yours are selling for.

Or if you want to schedule a FREE in-person market evaluation, please call or text me at (913) 515-3250 or contact me here. I’ll be happy to stop by and give you a more accurate value of what you can expect to sell for in this market. While I’m there, you can also get all of your questions about your house, the market, or anything else that’s on your mind. I promise you’ll be better informed when I leave than you were when I arrived. People tell me all the time, “Oh, I didn’t know that.” Real estate changes daily. Don’t leave it to chance.

If you’re buying…

If you’re buying in 2022, reach out here for a free buyer consultation or call or text me at (913) 515-3250. It’s important to know upfront, how things have changed for home buyers, and what you need to do to be a buyer in today’s market.

You can check out today’s new listings either below or in the sidebar. Call or text me at (913) 515-3250 to see inside one of these homes. I AM NEVER TOO BUSY to show you a house. Real estate is my main hustle after 35 years! It’s why I’ve been a Five Star Professional Real Estate Agent for the last 15 consecutive years. Everything else I do is merely bells and whistles to enhance your experience!

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(all data current as of 9/29/2022)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

2022 Five Star Professional Real Estate Agent

For the last 15 consecutive years, I’ve been awarded the Five Star Professional Real Estate Agent award from Five Star Professionals. Less than 1% of the over 12,000 local Realtors have received this distinction. And less than 2% of the local Realtors are awarded the award itself so it’s a very small group of award winners. The award winners are listed on their website.

This prestigious award is presented based on evaluations from consumers themselves. In order to qualify for this honor, a Realtor must first pass the award criteria based on their license is in good standing, a minimum number of years in business, as well as the number of transactions closed for the previous year. After that, the nominees are voted on by their clients based on 10 critical benchmarks.

2022 Five Star Professional Real Estate Agent criteria

  1. Customer service
  2. Integrity
  3. Market knowledge
  4. Communication
  5. Negotiation skills
  6. Closing preparation
  7. Post sale service
  8. Finding buyers the right home
  9. Exceptional marketing for sellers
  10. Overall satisfaction

In addition, those consumers are asked if they would recommend their Realtor to a friend.

In conclusion

I feel honored to receive this 2022 Five Star Professional Real Estate Agent award for another year. I appreciate each and every one of you that have supported me along my 35-year journey in real estate. My goal is to treat every client like I would like to be treated myself. Whether you are buying or selling real estate, I will manage your transaction like it was my own.

If you are selling your home, I will make sure everything is perfectly staged using your own things before your house comes on the market. Your staging is at no additional cost to you.

Buying a home? I will make sure you are up-to-date on not just receiving the latest listings as they become available, but you will also be informed of how to be the best buyer so you are the winning contract in a multiple offer situation.

I have remained a solo agent for over 35 years so I am able to give you all my attention during your real estate transaction. Real estate is a personal journey for each of you. For that very reason, you will never be passed off to someone else who doesn’t know your story.

Schedule an appointment

I’m never too busy to take your call or answer your text. YOU are my number one priority always.

In addition, I AM NEVER TOO BUSY to talk to you about real estate – whether it’s showing you a house or helping you get your house ready to sell. Real estate is my main hustle after 35 years! Everything else I do is merely bells and whistles to enhance your experience!

Let’s talk about your plans for real estate in 2022. With an ever-changing world and real estate market, I want to answer all of your questions and see if this is a good time for you to pursue your dreams.

For more information about me or my services, visit my website or call or text me direct at (913) 515-3250 or contact me here. I’d love to help you in 2022 so you can recommend me for the 2023 Five Star Professional Real Estate award!

January Home Selling Rules

January home selling rules are mandatory so your home appeals to the largest number of buyers. One of my home staging mantras is buyers only see what they see, not the way it’s going to be. In other words, don’t still have your house decorated for Christmas and expect your buyers to see it any other way.

Restaging your Overland Park home now that the holidays are over is of utmost importance. Here are three things you must do immediately as part of the January home selling rules – if you haven’t already.

3 easy January home selling rules

  1. If the effects of Christmas are still lingering in your home, this is a definite turn off for your buyers. It always seems harder to get Christmas put away than getting it out. Now that the holidays have passed, get busy now and take down your tree and all of your holiday decorations. You should box them up and put them in storage for your upcoming move. Be sure to remove your outdoor decorations and lights as well.
  2. Don’t forget about your curb appeal! Restage your front door with a fresh new winter wreath, a new welcome mat and one or two tasteful urns filled with a hardy mix that will take you through the winter months.
  3. Look at your photos online. If any of your photos show your home decorated for Christmas, now is the time to change those out with current photos. As the seasons change, so should the photos of your home. Your exterior photos should always represent the correct season you are in – you don’t want your home to stand out in a negative way.

In conclusion

As a result, restaging your Overland Park home right after the holidays, and by following the January home selling rules, you will be way ahead of your competition and setting yourself up for home selling success.

These January home selling rules aren’t difficult. It’s merely knowing what to do and then doing it. As a Realtor for 35 years, a recipient of the Five Star Professional Real Estate award for the last 15 consecutive years, and a home stager since 2006, I always treat your home like it was my own and will advise you accordingly. Choosing the right Realtor is your 1st step.

If you are considering selling in this upcoming spring market, give me a call or text at (913) 515-3250 or contact me here for a FREE consultation so you make the most money on the sale of your home. The right home staging, using your own things in a fresh home selling way, will help create your model home look that will bring in multiple offers and net you more money. You do want more money, don’t you?

Check out today’s new listings either below or in the sidebar. Call or text me at (913) 515-3250 to see inside one of these homes. I AM NEVER TOO BUSY to show you a house. Real estate is my main hustle after 35 years! Everything else I do is merely bells and whistles to enhance your experience!

  • List View
  • Map View

See all Real estate matching your search.
(all data current as of 9/29/2022)

Listing information deemed reliable but not guaranteed. Read full disclaimer.