And the Good News Is...

November 20, 2008

It's getting to be more and more difficult to find good news on TV. Reporters seem to be reveling in stirring up as much "doom and gloom" news as they can – after all it's been proven that bad news sells better than good. Our addiction to news tickers and 24 hour coverage was solidified during horrific news events of the last decade. But there IS positive news to be found if you dig hard enough.

28 Metropolitan areas showed increases in median existing single-family home prices from the same quarter in 2007. Areas such as Elmira NY, Tulsa OK, Wichita KS and Urbana IL.

But even in areas where average home sales have dropped drastically, there is good news. Buyers who have been shut out of the home ownership market, are now finding that they can afford to buy. And they ARE buying. Three states where the ‘housing bubble' has burst are seeing some of the highest increases in sales. The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent. These areas have seen some of the strongest sales gains with some reports of multiple bidding.

And there's also good news for sellers. The typical seller purchased their home six years ago and is still experiencing net equity gains, even in today's depressed markets. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

So while we are definitely in turbulent economic times, there is GOOD NEWS to be found if you look for it. Hopefully, some home buying incentives will be passed soon to stimulate even more home ownership. Lawrence Yun, the chief economist at the National Association of Realtors, said that, "A pattern of sharply higher sales in areas with large price declines is well established," Yun said. "Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it's important for government to keep that in the forefront of stimulus decisions."

As of 11/28/09 the Dick O Leary RePage is ranked at 11,404 with 25 points.
The monthly top RePage owner will receive a cash prize. Help this agent by bookmarking this site and posting it to blogs and other Web pages and encourage others to visit.

Local Information for Overland Park, KS

Latitude: 38.940071 -- Longitude: -94.680697

Other Area Cities: Kansas City Leawood Lenexa Mission Olathe Prairie Village Mission Hills Monticello Shawnee Mission Bonner Springs Overland Park Grandview Kansas City Overland Park Liberty Belton

Enter our Photo Sweepstakes and Win $200 for your Overland Park photos!

To see random photos for other cities Click Here.

Submit your photos of Overland Park and become eligible to win $200. Click Here for details.

The city was incorporated as a first-class city on May 20, 1960, making it one of the youngest communities in Johnson County. Its initial population was 28,085 and was bounded by Antioch Road (West), 107th Street (South), Chadwick (East) and I-35 (North). In 1960 the population was 28,085 with 17.2 square miles incorporated. By 1990 the population was 111,790 and in 1995 the incorporated land area was 56.6 square miles. Since 1995, the population has since grown to over 167,000 by 2005 with 62.26 square miles of land area. Overland Park is now the second most populous city in Kansas. The city traces its roots back to 1905, with the arrival of its founder, William B. Strang Jr., who platted subdivisions along a military roadway on 600 acres (2.4 km²) he purchased that are now part of the old downtown area. -- Source: Wikipedia.com

Kansas 2000 Census Population Profile Map

	Overland Park	Kansas	United States
Population	149,080	2,688,418	281,421,906
Median age	36.3	35.2	35.3
Median age for Male	34.9	33.7	34
Median age for Female	37.5	36.5	36.5
Households	59,703	1,037,891	105,480,101
Household population	147,492	2,606,468	273,643,273
Average household size	2.47	2.51	2.59
Families	39,718	701,547	71,787,347
Average family size	3.06	3.07	3.14
Housing units	62,586	1,131,200	115,904,641
Occupied units	59,703	1,037,891	105,480,101
Vacant units	2,883	93,309	10,424,540

Visit US Census