Kansas City Condo Sales Still Sluggish

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As the condo market heats up in other parts of the country, sales in Kansas City are still in the doldrums. The Kansas City Star reports:

The difference between buying a condo and a single-family home is night and day,” said Dan Farmer, a mortgage banker at Peoples Bank. “I ask Realtors to talk to me first before writing a contract.”

Living in a condo — basically an apartment-style residence you own rather than rent — wasn’t all that popular to begin with in Kansas City compared with more densely developed cities such as Chicago, New York or even Minneapolis. It’s so easy to get around here, and traditional homes remain relatively inexpensive.

In the years leading up to the Great Recession in 2008, a small condo boom did hit Kansas City, particularly around the Country Club Plaza and downtown. Then the bottom fell out, to a lesser degree here but big time in overbuilt places such as Miami, Phoenix and Los Angeles.

Wish the condos were as affordable on the west coast!

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Authored By Kevin Collison – See the Full Story at KansasCity.com

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