Investor · Las Vegas, NV · Member since 2019 · 499 posts · 259 votes
I tried, but could not find a discussion tracking any coronavirus impacts in specifically Kansas City that investors are seeing. If there is one, please provide the link here. If not, let's all share what we are all seeing in this market! I'm not seeing any impacts on my rentals, but this is just the beginning. I'm in touch with my PM to see if they are starting to see any sign of impact. With fannie, freddie, and hud suspending foreclosures and evictions, it'll be interesting to see how we can navigate our way out of this storm. I am hoping this thread will serve all KC investors by sharing each other's knowledge and experience!
Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
6y
KCMO is about 3 to 5 days behind what you are seeing on the coast, to a lesser degree. Early next week will be a good indicator but all of us in the REI industry are operating like normal, as much as we can.
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
6y
Nothing yet but still early. I have had OOS investors having to post pone closings due to lock downs. They aren't able to have notaries drive out for them.
Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
6y
@Jonathan Oh Let's be patient, treat people with respect and understanding and contact your local bank if you are having issues. Most all restaurants at least have a carry out option. Bars will be hit hardest. Only if you have tenants with these jobs, should their finances be hit much (every situation is unique though).
Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
6y
KCMO is about 3 to 5 days behind what you are seeing on the coast, to a lesser degree. Early next week will be a good indicator but all of us in the REI industry are operating like normal, as much as we can.
Flipper/Rehabber · Kansas City, MO · Member since 2011 · 2k+ posts · 712 votes
6y
All non essential business shuts down in kc as of 12:01 pm tonight.
What is essential, based on the realtor and investor Facebook posts, just about everything is essential:
Many businesses reaching out today to our unified metro to get more detail.
Everyone still seems to feel that rehabbing houses is essential, buying and selling essential. and the ser ices to support essential. But I expect that to change and be more defined.To give you an idea, one of the officials said mowing a lawn is essential to health and safety, but an elective landscaping project, is not
So I would GUESS< feta ING a non functioning furnace or hot water heater, or a roof with holes might be essential, remodeling your bathroom, or a house no one lives in may not be. But we still don't know.
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
6y
So far there is only anecdotal information since any quantifiable data from the board of realtors for March won't be available until the end of the month. What we are seeing however is surprisingly little effect at this point. The market went in to this with such a strong head of steam and such little inventory that there has been no effect on prices so far. What we're hearing is that pending sales (new contracts) are still strong, purchase mortgage applications are strong and no significant increase in contract cancelations. Prices are driven by basic supply and demand. I don't see any big increase in supply due to the fact that people do not want to list their homes and have people coming through them with this going on. I think the current supply/demand ratios will remain which won't have a big impact on pricing unless things get drastically worse in the next 30 days.