KC Condo Tracker

Put on your party flip flops and enjoy private cabanas, DJs, concierge services and a swim-up bar. The Jones, and "ultra-pool" opens June 13 atop Cosentino's Market.

Members get first dibs but the public can reserve spots on the weekends. The new wet spot is owned by Mosaic Lounge and Entertainment Concepts Investors who know who to draw the pretty people out to play.

Crestwood Condominiums got caught in the bubble and didn't take off. Now they have nine bank owned units slashed up to $100,000.

Hyde Park Condos made it but one buyer foreclosed and this top floor unit is available for one half of what it was when then project launched two years ago. Email  me for an appointment.

I couldn't have said it better myself. So listen to how Rick Harper puts things into perspective from a real estate investor standpoint:

The secret is, not all properties hit rock bottom at the same time. Many properties have already hit bottom and they have already been purchased. Somebody else got the deal. Some properties will never hit bottom; the sellers will simply remove them from the market and re-list then in better, more expensive times. I like to describe the market like this: If I threw a handful of small rubber balls in the air they would not all hit the ground at the same time. They’d all bounce at different times, just like individual house prices.

Not every seller will come to the same conclusion at the same time. A property is not worth what the seller wants, what the seller paid or even what somebody else paid. A property is worth what a willing and qualified buyer will pay today and not a penny more. The good news is sellers are starting to figure it out one at a time.

The trick is identifying the bounce and when to buy a specific property. For me as an investor looking to maximize profits, the price of a specific property is at rock bottom when the return on investment is better if I buy the property than if I leave my money where it is. Compare the real estate rental income and positive cash flow to the other investment options we all have, i.e.: stocks, bonds, savings accounts, etc. As real estate prices come down, and consequently the mortgage payments and taxes come down, while at the same time the demand for rentals is growing, at some point the positive cash flow will make the investment irresistible. That is the bottom for an investor.

Flash back to all the fun the good looking up and comers had at their upscale condo at Melrose Place in the '90s TV series. Now flash forward to today at the corner of 45th and Roanoke where the new condominiums Melrose Corner just grand opened. The units are pretty inside and out and better yet priced ultra affordably with as is one bedrooms (the Malibu) going for $99K, the next level finish (the Beverly) for $114,950, the Hollywood for $129,950 and the Santa Monica for $189,950.

The conversion was done by the same company that did Savannah Court.

Three national real estate experts had this to say to Fox and Forbes.

"Some people say we're in a bad real estate market and I disagree. A bad market is when amateur investors become real estate experts and bid up prices. Amateurs jump in when the market is hot. Pros come in when it's cooling and scoop up deals."
Robert Kiyosaki, author of Rich Dad Poor Dad Series

"I think real estate is a great investment right now. Two years ago it was too high and I discouraged buying. You can buy things today that, frankly, you couldn't have even thought about buying a couple years ago." Donald Trump, the King of the Real Estate Deal &
Author of Think Like a Champion

"The good side to this market is there are deals to be had and I mean serious deals." Suze Orman, TV financial advisor

Watch video of Suze's Interview