KC Condo Tracker

Once again the East Village Schedule is being amended under the state terms that construction is to begin no later than March 31, 2010. The $350 million rpoject was envisioned as a Quality-Hill style neighborhood anchored by J.E. Dunn Construction at 11th and Locust Streets.

Though Dunn's headquarters is almost done, nothing else has occured except for the Cherry Street Inn and a homeless shelter being taken down. Dunn and neighboring condominiums like The Manhattan, The Metropolitan and The View would love to see some new buildings be it apartments or retail coming in. Time will tell.

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!

No doubt, real estate has taken a hit with values being down 15% on average across the country. However, starting in 2010 median home prices will start climbing back upwards and continue to climbing to full recovery by 2012, according to Business Week magazine.

While there is still ample real estate inventory to sell off, the pictures isn't nearly as bleak as the media paints it to be if you look at the local picture. Here's a snapshot of seven local markets and how median home values (resales) have been impacted in each:

CITY                2007 Home Price        2008 Home Price

Omaha            138,930                    138,000
Seattle            437,920                    $395,000
Saratoga        208,540                     $206,000
Salt Lake        238,020                     $230,000
Nashville        159,490                     $153,000
Austin            182,898                      $191,000
Merced            230,440                    $144,000
Kansas City     156,634                    $149,535   

Funk was in the house into the wee hours of the morning this weekend scoping out the crowd with Star reporter Yael Abouhalkah. Mayor Funkhouser's mission was to i.d. any discriminatory actions of bouncers regarding dress code violations.

The verdict was the crowd was diverse and dressed according to code. However, Yael commented that though the "living room" and its bars were packed, the district isn't meeting its payments on the required district's tax revenues. How hot does the district have to be to turn a profit?