MAREI RE Investment News - July 2019 All Star Networking Edition

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MAREI Members Receive 20% off on Paint When Their ProRewards is Linked To the MAREI Discount Log into MAREIMember.com for details.

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RE Investment News Grow Business REYour Investment News Grow Your Business


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real estate news However, that appeal deadline for an informal review was June 24th, that many homeowners missed.

THE ONGOING SAGA OF TAX HIKES IN JACKSON COUNTY MISSOURI Property tax assessments in Jackson County Missouri came out recently with many home owners seeing their real estate taxes double and even triple. Investigative reporter Angie Ricono with KCTV5 news has been covering the assessments, with a series of segments that we have lined from the MAREI Blog at http://www.marei.org/propertytax-hikes-in-jackson-county-missouri-lead-toclass-action/ In many cases, the assessments show that two very similar properties on the same block received two widely different assessments. Rather than looking at the house, the county reached a “correlated value by grouping neighborhoods together, looking at group sales data as a whole, and using some sort of computer formula to come up with a value, that it seems varies widely from property to property and are in many cases this time around to be highly inaccurate. Home Owners were then encouraged to fight their assessment, but getting comparables ‘ from a local Realtor and presenting your case in the form of an appeal to the county. Page 4

Next up in the ongoing saga was a filing of a class action lawsuit to fight the property tax assessments by Attorney Mandy Shell. The next day a whistle blower told us that part of the problem was that the county lost access or didn’t want to pay for access to the MLS and was relying on the free data to come up with values. Many of these reports include quotes from the Director of the Assessment Process Gail McCann Beatty an appointee of County Executive Frank White. Report #9 shares that there is a second deadline looming of July 8th to file a formal appeal before the board of equalization. There are two community meetings planned for Saturday, July 6th for home owners to get simple step by step tips on how to prepare for your appeal in front of the Jackson County Board of Equalization. Sponsored by Share the Love House, 100 Men of Blue Hills and Stacey Johnson-Cosby, the first meeting is 10:00 AM at the Lucile Bluford Public Library (3050 Prospect Ave) and the 2nd is 1:00 PM at the South Patrol Police Station (9701 Marion Park Dr) You can also get more info from the counting at https:// www.JacksonGov.org/340/BOE-Policies-Procedures To Determine Fair Market Value the Board will accept the following items at an appeal: Grow Your Business


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Appraisals by Certified Appraiser (not real estate agents’ opinions)

Recent sales of the property or sale contracts

Sales of comparable homes close in proximity and style/size to the property being appealed

Written estimates or cost for any improvements made or needed

Current photos of condition (interior and exterior)

Rent Roll and Leases

Income and Expense Statements

The Jackson County Legislature called for a halt to the county’s troubled assessment process and to discard the 2019 assessments on June 28th, but County Executive Frank white refused to admit any errors or halt the process. If many of these assessments are left to stand, the increase in real estate taxes paid could cause many home owners to no longer be able to afford their homes and many landlords to no longer have positive cash flow on their rental properties. No mater what happens, MAREI urges all owners of property in Jackson County Missouri to do a big of research, right now today to see what your new assessment is and to take the necessary steps to appeal on Monday the 8th. You can look up your property here http:// www.marei.org/jacopropertyval

1. Enter the property’s address, 2. Click on their property on the map, 3. Click on “View Property Report,” 4. Click on the tab titled “Value Information.”

KCRAR MARKET UPDATE May 2019 At this point in the year, we are getting a good sense for how the housing market is likely to perform for the foreseeable future. And although it is not a particularly exciting forecast, it is a desirable one. Markets across the country are regulating toward a middle ground between buyers and sellers. While it remains true that sales prices are running higher and that inventory options are relatively low, buyers are beginning to find wiggle room at some price points and geographies. Closed Sales decreased 4.1 percent for existing homes and 10.1 percent for new homes. Pending Sales increased 6.7 percent for existing homes and 2.7 percent for new homes. Inventory decreased 8.5 percent for existing homes but increased 0.3 percent for new homes. The Median Sales Price was up 8.6 percent to $215,000 for existing homes and 5.3 percent to $368,400 for new homes. Days on Market decreased 2.9 percent for existing homes but increased 24.6 percent for new homes. Supply decreased 4.8 percent for existing homes but increased 7.4 percent for new homes. An extended trend of low unemployment, higher wages, and favorable mortgage rates have been a terrific driver of housing stability in recent years. What is different about this year so far is that prices are not rising as quickly. Some of the hottest Western markets are even cooling slightly, while some Northeast markets are achieving a state of recovery after a decade of battling back from the recession. As a whole, the selling season is looking fairly stable across the nation. http://kcrar.com/statistics

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Accountant

Auction Company

Beebe & Associates, LLC Brian Beebe www.MyCPAkc.com 816-388-9222

Auction.com Rachel Bailey www.Auction.com 816-797-6875 Monthly Auction 101 Workshop

Coleman Accounting Service Bob Coleman www.ColemanAcctg.com 913-787-0308 Mid America Tax Planners Ahmad Malik www.Accounting-USA.com 913-210-4765

Appraisal Ladys Appraisal Service Kathy Allen-Grey www.LadysAppraisal.com 816-678-2794

Attorney Anderson & Associates Evictions / Collections Julie Anderson www.MOKSLaw.com 816-931-2207 Rick Davis Legal Real Estate Law Rick Davis www.RickDavisLegal.com 913-283-8300 Nachman Law David Nachman www.NachmanLaw.com 816-285-6029

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Building Supplier

Contractor

Coronet Window Company Brent Huckabey www.CornonetWindow.com 816-472-1788

Above & Beyond Building Services James Carollo www.AandBKC.com 816-674-6132

DeMayo Enterprises Wholesale Cabinets Mark Yanda www.DeMayoEnterprises.net 913-980-4260 Earthwise of KC James White www.EarthwiseKC.com 816-231-7011 Joe’s Carpet / Weber Flooring Joe Weber www.WeberFlooring.com 913-469-5430 The Home Depot 2% Rebate / 20% Off Paint Details in Member Benefits Rugs, Rolls and Remnants Jerry Ratway www.RugsRollsRemants.com 913-593-0568

Hearth Masters Fireplace / Masonry Gene Padgitt www.ChimKC.com 816-461-3665 Genesis Home Restorations Mold Remediation Terry Amerine GenesisHomeRestorations.com 913-270-0812 HCS Restoration KC, LLC Mike Peace HCSRestorationLLCKansas.com 913-731-6537 NuLook Custom Finishes Cabinet Refinishing Carol Baldwin www.NuLookFinishes.net 913-385-2574

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Grow Your Business


Under Pressure Property Services Rehab, Maintenance, & Staging Dallas Kidd www.MyUnderPressure.com 913-274-9555

Merchants Mortgage Mushy Money Susan Aubin www.MerchantsMtg.com 303-514-0815

Financial Planning

North Oak Investments Hard Money Tommy Nigro www.NorthOakInvestment.com 816-249-1001

MRE Property Management Turn Key & Management Nick McKinnis www.MREKC.com 816-388-9588

REI Investor Funding Charlie Fitzgerald www.REIInvestorFunds.com 913-843-8650

SG Property Management Randi Fiedler www.SGPM.us 913-717-8531

Worcester Financial Hard Money Taryn Kendrick www.WorcesterFinancial.com 816-291-4146

Realtor

TR Bass Financial Terry Bass 816-251-4524 Home Warranty Choice Home Warranty Jayme Dickey 816-550-5144 Insurance Agema Insurance Fred Dickinson www.AgemaIns.com 913-543-8116

Marketing

Arcana Insurance Insurance for Investors NREIA.ArcanaInsurance HUB.com 877.744.3660

REIPro Investor Marketing Platform www.MyREIPro.com/NREIA Discount Code 66209PRO

Brian Rauber Insurance Agency Farmers Insurance LoveIsOurPolicy.com

Office Supply

(816) 436-1016

Self Directed IRA Equity Trust Company TrustETC.com/NationalREIA FREE Training 844-732-9404

Lending Crossroads Investment Lending Hard Money Bekah, Brant, & Britton www.KCLend.com 913-800-8226 House Traders Monthly Meeting Flat Branch Home Loans Morgtgage Banker Beth Langston FlatBranchHomeLoans.com 816-479-5841 x 1148 Investors Choice Funding Hard Money Bob Woelfel InvestorsChoiceFunding.com

Office Depot / Office Max www.OfficeDepot.com Discount Link & Card in Member Benefits Package Properties KCInvest Investment Properties Scott & Kim & Don Tucker www.KCInvest.com 913-735-0018

M & M Property Pros Michael & Michele Bellman www.MMPropertyPros.com 816-490-6745

Collins Cook Realty Christina Erickson-Hoffman CollinsCook.com 816-865-5932 Crown Realty Rich Melton RichMelton.CrownRealty.com 913-215-9004 Realty Resource Scott Tucker www.RealtyResourceKC.com 816-284-7844 Screening Rent Perfect Tenant Screening Plus Heather Johnson www.RentPerfect.com 877-922-2547 Discounts www.MAREI.org/RP

Pride Properties Wholesale Marcus Bray & Matt Bray www.PridePropertiesHomes.com 913-213-5370 Deal Makers Monthly Meeting

Title Company

Property Manager

Trash Out

Home Rental Services Paul Branton www.Home4Rent.com 913-627-9543

1-800-Got- Junk Trash Pick Up www.1800GotJunk.com Discounts in Member Benefits

Accurate Title Company Dave Green www.AccurateTitleCo.com 913-338-0100

317-205-4797

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