Tidbits from the Ville

Good Friday morning!!  Yesterday I shared on my social media sites the fact that Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows.  Across the county, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.  "U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $620 billion since the second quarter of 2019, an increase of 6.6% year over year.

Right here in Missouri Year over Year (YOY), Home Equity Gain has been averaging $10,000 and the national average was $9,800.  

Yesterday evening at 5:45 p.m. Porters Ace Hardware in Smithville, Missouri had their grand opening.  The Porters family is a wonderful family that has contributed so much over the years in our community.  Their family has been great developers both on the residential and commercial front aspect of Real Estate. I personally shopped at Porters Ace Hardware last Sunday when I was looking at purchasing an air hose for my compressor.  They had a great selection, great service, and priced right.  Plus I was able to help keep dollars in Smithville, Missouri.

How exciting.  I  have made it to Apple Podcast.  Look us up "Tidbits from the Ville", hit subscribe and provide us feedback.  

Today we talk about the Shortage of Homes are pushing prices higher.  More people are holding off on listing their homes because they are having trouble finding another home to move into. 

The KC Business Journal reported that FedEx Ground is hiring 300 people for its new facility.  

Finally, there are only 18 homes for resale in Smithville.  This is a historic low.  Traditionally Smithville has average 89 housing starts each year and we are lower this year.

85% of us who are working need to help those who aren't.  Bigger Tips, Donations to our local food banks, Look around your own community.  Are there ways you can help the at-risk population?  We are seeing an epidemic of depression and suicide nationally.  Reach out to your neighbors who are lonely.  I am sure you can think of your own ways.  Then Just Do it.  

My Kansas City update talks about the Metro-North Mall Redevelopment which consists of mixed-use development (residential, retail, office, hotel, entertainment)  It is currently being financed by public-private financing; Private Equity, Debt, Cash ($121 million), and TIF Totaling $143 million.

My local update is about Cornerstone Coffee.  The ribbon-cutting is today at 11:15 a.m.  Please join us in celebrating Leeah Shipley grand opening!!

Today I talk about the Average Impact of one home sale in the State of Missouri.   According to the National Association of Realtors, The Average Impact of One Home Sale is $60,000 in Missouri.   I also talk about the August 2020 Update from Kansas City Association of Realtors and how new home sales are up 15.1 YOY and that the Supply of New Homes is down -45.9% from August 2019.  Finally, I continued to talk about the HDR Engineering Study presented to the Board of Alderman in August.  Housing Starts in Smithville have an average of 89 per year from 2001-2019.  The Average Persons per household is 2.7 which equates to an increased population of 240 persons/year.  Recently, Stover and Associates updated that we can expect Smithville to grow between 3500-4500 new residents between 2020-2030.

This morning I am excited about a new microphone I received over the weekend that will help the sound quality of my recordings.  In today's episode we talk about the Economic Impact Real Estate has on a typical new home as well as an existing home.  I share a little fact about the economic impact of not spending money money in today's economy and finally HDR Engineering was hired to conduct a study on the City of Smithville preparation of the Wastewater Master Plan.

Today we talk about the Shortage of homes Nationally and the average time a home is on the market.  AMC is beginning to show movies again and finally the excitement around Commercial Development in Smithville.

Today I continued to talk about the Significant Equity Homeowners have across the country.  77% of Homeowners have 20% or more equity in their homes.  In the Kansas City Update, I talk about the Development happening at Zona Rosa.  Finally, in the Smithville Update, the Alderman approved Resolution 827 authorizing and directing the  Mayor to execute an engineering agreement with TransSystems for Engineering and Design Services for the Bridgeport Roundabout.

Today on Tidbits from the Ville, I talk about the average equity homeowners have today as well as local stats from KCRAR “Heartland” and about the approval of Attic Storage a new storage facility located just south of the old Full Features Building in Smithville.

Today I talk briefly about the shift of buyer preferences to locate to lower density areas.  I also discuss the shift of KC Residents flocking to buy vacation homes in rural Missouri during the pandemic.  Our local update talks about the Herzog Foundation building a new 17,000 sq. foot building in Smithville.

Today's episode we talk about How Solid the Housing Market is despite the shock and awe of the pandemic.  We look at how inventory and supply of homes in Clay county are down significantly and finally, we look at Nodaway Bank's proposal in front of the Board of Alderman for approval on Tuesday evening.