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Realtor says Waldo, Brookside real estate strong

Wednesday, 11 March 2009 01:00

The Waldo and Brookside areas for years have been known as enclaves in the large metropolitan area of Kansas City.
It should come to no surprise that the area has fared better than others in the recent downturn in real estate.
Diana Welsh, a broker at Coldwell Banker Advantage, 5901 Main, and Brookside resident, said that while all areas of real estate have been affected, Waldo and Brookside have been able to avoid a significant impact.
“We’re very fortunate,” Welsh said. “We’re protected in this area. It’s a great location and a quality community. The location is sought after.”
Welsh said she hears buyers say they are interested in Waldo and Brookside because the areas have a strong sense of community.
“Neighbors have block parties and garage sales. I know I have a very friendly neighborhood where I live,” Welsh said. “I describe Brookside and Waldo as a small town surrounded by a big city.”
Welsh said many buyers also realize Waldo and Brookside houses come with age and character, and some work.
“The buyers are usually mindful of and appreciate old homes,” Welsh said. “They realize these homes are a work in progress. For people who are handy or who like to do a little bit of general maintenance, there is a big reward. And these homes have so much character in their moldings, the fire places and things like built-in book cases.”
The current housing market poses a new set of challenges for buyers. For example, credit must be in tip-top shape, Welsh said. Buyers, especially first-time home buyers, are inquisitive about what to expect, she said.
“They are extremely interested in financing,” Welsh said. “They have seen what the sins of the past have been. They question everything carefully and they want to be knowledgeable about the financing part.”
Welsh said there are enticements for potential buyers right now, perhaps the most popular being the $8,000 tax credit for first-time home buyers, followed by Federal Housing Administration financing.
With the tax credit, part of President Obama’s stimulus bill, buyers do not have to pay back the credit as long as they stay in the home for at least three years. For the purposes of the credit, a first-time home buyer is defined as someone who has not owned a home for three years. There is a maximum home price and the home must meet certain guidelines, but FHA financing is more open than other types of financing, Welsh said.
For sellers, Welsh said pricing and presentation is key in this market.
“It’s still price driven right now,” Welsh said. “And it’s extremely important, the condition of the property. You need to make it the best you can. If you do that, you will be rewarded with sales.”
Welsh said prices in Waldo and Brookside have stayed fairly consistent, and people should not be scared of buying a house.
“It’s absolutely a wonderful time to buy,” Welsh said. “For Realtors, it’s a really big responsibility. We need to teach the first-time home buyers as much as we can. They can see maybe what they’ve been missing. And the buyers need to ask as many questions as they can.”

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