KC Condo Tracker

Downsizing isn't just for retirees and empty nesters any more. I'm a pure example. I just downsized from a 4000 square foot home to a 500 square foot loft in downtown Kansas City. So it can be done and it can be financially liberating when you consider 30% of your gross income typically goes toward your mortgage payment each month.

Are you using your entire home or are rooms setting unused and collecting dust? Want some ideas how to start the downsizing process.Email me for articles and ideas.

These days everyone is looking for a deal or a steal. One that I think comes close to that description is a recently slashed two bedroom/two bath 2100 square foot condo at The Brentwood on the Plaza. Unit 9 at the Brentwood is a two-level NY style loft with a huge private deck, two covered parking spaces and a swimming pool. It was $245,000 last year and has been reduced to $135,000. Email for pictures, interest or a possible showing.

With the Waldo rapist still on the loose, safety and security is on everyone's mind.  While home's have multiple break in points -- sometimes up to 30 points of entry, condos and lofts tend to be more safe and secure often with one highly-monitored point of entry.

Here are a few tips to keep your condo or home ultra secure in 2010.  Make sure your door has a deadbolt that protrudes at least 1.5 inches and has a jimmy-proof strike plate. And remember, locks only work if you use them. Always lock your apartment or condo door even if you're just going to get the mail. Don't forget to lock your balcony door, too.

Install a peephole in your entrance door if you don't already have one. Close your windows fully and keep locking hardware in good condition.

Don't buzz anyone into your building that you don't know or let someone slip in when you're entering the building. Ask your neighbors to do the same. If you see someone in your building you don't know, notify building management.

Do not enter the elevator if you feel uncomfortable with someone in it. Wait for the next elevator. Know where the elevator emergency alarm button is, and use it if necessary.

Watch for suspicious persons as you enter the garage. Drive back out if you are concerned.

Report burned-out an dbroken lights in commons areas, such as corridors, stairwells, garbage rooms, laundry areas, parking garages and outdoor areas.

The safety of your neighborhood has an effect on your building's security. Contact your local police department to learn about stats in your building or neighborhood. And, take the initiative to ramp up security like the condo owners are doing at Inglenook Plaza. Owners are contributing a voluntary $10 to the neighborhood Roanoake home's assosciation to increase police patrols of the area. In addition, the home association has approved the add'l expenditures of extra surveillnace cameras around the property.

Be aware, be alert, be proactive with your safety in 2010.

During the first round of the government’s homebuyer tax-credit program, only first-time purchasers could qualify for up to $8,000 in tax credits. But now, many current homeowners could get in on the deal, too.

The House and Senate have passed an extension of the popular homebuyer program that would allow people who have owned their homes for at least five years to buy a new home and get up to $6,500 off their tax bill. Why the switch?

The move is aimed at luring higher-end buyers into the real estate market, says Kevin Cottrell, a principal and cofounder of Kelsey Cottrell Realty in St. Louis. During the initial incentive program, which ends Nov. 30, over 70 percent of the contracts his firm inked were under $300,000, and 90 percent were under $400,000, the lower end of the real-estate spectrum. By extending the credit to current homeowners, the federal government is aiming to move a more upscale segment of the market into “a more normal cycle of buying and selling,” where people might move to a better home every seven or eight years, Mr. Cottrell says. The five-year ownership requirement discourages people from flipping houses the way they did during the real estate bubble.

I just returned from a family funeral held in Stockton Missouri where I stayed in a vacation cabin no less. Yes, city girl returned to her roots and liked it.

Though the week was incredibly emotional, I still found a few surreal moments to sit on the deck and listen to the crickets late evening and listen to the coyotes howl at the full moon one night. I even walked the nature trails next to the cabins all the way to the dam and held my arms out in the wind to feel that I could still feel.

So while I enjoy the big city and selling lofts and condos in it, I will return to the Cabins at Stockton Lake and encourage you to do the same when you need to get out of your element. Cabins rent for just $80 a night and you can even have one built for you starting at $79,000. Mention this KC blog to get 10% off your visit.

If you're feeling the squeeze because of the economy, the first thing to address is your mortgage payment. The Obama Administration passed the Making Home Affordable Program this year. The program is designed to help homeowners that are current with their mortgages take advantages of today's lower mortgage rates.

One of my clients, David Doyle, got a call from Wells Fargo this week offering to take his current 15 year note at 5.65% down to 4.25% (reducing his monthly payment by $150 a month). He called me saying it sounded to good to be true, but it's not. For a $1000 REFI fee, he'll save $1800 a year on his mortgage.

To qualify, you must be current on your mortage and your mortage must be a Fannie Mae or Freddie Mac owned loan. To find out, click here.

Because John and Cecily Ketterer just sold their vanilla suburban home and moved into the Manhattan condominiums this weekend. After move in they hot tubbed in the penthouse adult play area with a 360 panoramic view of the city. John walked to his work at DST this morning after grabbing a cup of Joe on the first floor by the front door. I don't know if Cecily has booked a massage at the on site Salon and Day Spa yet, but I think it's on her to do list. Her mother is looking forward to jumping in the free limo service and going to the casinos her next trip in. The list goes on and on. Smile on new happy urbanites!

You're ready to take the leap, purchase your condo, and cash in on the government incentives and tax write offs. But where can you live on the Plaza for $900 some odd dollars a month total payment? Brentwood Condominiums just one block north of Pottery Barn in this remodeled condo with all the trimmings and an 18x18 private patio overlooking the pool. Ahhhh.

This one bedroom, one bath condo is just $99,900 and HOAs are just $166 per month. So affordable, so adorable, so ripe for the picking. I'll be holding this condo open on Sunday, Sept. 27th from 1-4PM. Pop by them go to the Plaza Art Fair.

The new pool on top of Cosentino's Market, The Jones, is the new hot spot for pretty people of Kansas City. But the watering hole comes with a high price. Platinum memberships are a grand a year; Executive memberships of $750; and Premium memberships are $400 for the year.

Granted you get guest passes, towel service, meal discounts, lockers, cabanas, VIP invites to cocktail parties, and a view of the best eye candy in Kansas City.

Every couple months, I try to use my skill of summaraization to update you on what's up in the KC condo scene. Here's the latest in a nutshell

BEST BUYS

* Western Auto 2 bd/2 bth short sale down from 275K to 199K

* Metropolitan 2 bd/2bth model with all furnishings down from $199K to 165K

* Hemingway 1 bd/1bth short sale down from 180K to 125K

* Park Castle new 3 bdrm listing just $188KManhattan 10^th floor 1 bd/1bth/1car garage just $138K

* Madison 3 bdrm short sale down from $325K to $285

* Gascony Studio Plus new listing just $79K

FOR RENT

* Penthouse at The Vista, 3838 Rainbow (2 bd/2bth/2 parking spots) $1250 p/m

* Plaza Hemingway furnished or unfurnished (1 bd/1 bth/1 valet spot) $1100 p/m

* Metropolitan, 600 E. 8^th (2bd/2bth/one parking space) $1300

FREE CONDO TOURS

* July 25 – Crossroads/Westport Condo Tour 1-4 PM

* Aug. 29 – Dolled Up Downtown Condo Tour 1-4 PM

Tour 10 condos from $79K-$250K in price. RSVP to brenda@kccondosource. Request stops and get advanced lineup, too.

FIRST TIME HOMEBUYER PIZZA PANEL

If you're confused about your options, the market, financing, how the government tax rebate works and how you can use it or any other aspect of the buying process, get answers from our panel Saturday August 8th from 10 to Noon. Our panel our four experts consists of Josh Switzer, Stonegate Mortgate; Brenda Clevenger, Chartwell Realty; a recent first time homebuyer; and a real estate investor (TBD). Please RSVP to brenda@kccondosource.com or 816-699-0084 so we can have enough pies. Join us in Aug. at Chartwell Realty at 4546 Main St. KCMO 64111. Free parking on street or behind Cafe Trio.

ARTSY URBAN HOMES

So your dog won’t let you buy a condo, no problem. Do a drive by then call me for a showing at 816-699-0084.

7314 Main Street, a Spanish Adobe in Waldo, for $149,000

3823 Walnut, a Boehme bungalow, for $150,000

Enjoy the rest of your summer. If you’re too busy mowing a yard, get a life…get a condo!