Olathe Neighborhood News

Stonehurst Subdivsion in Olathe, KS. has 180 homes. Fifteen of the 180 homes have gone on the market the past 6 months. Out of the 15 homes 11 sold, 1 is currently on the market and 3 are currently on the market. The maximum sold price is $204,000 and the average days on the market is 36 days.

For more information on Stonehurst Subdivsion or another subdivision in Olathe, Kansas, go to: http://OlatheStats.DowellTaggart.com

Thank You!

Dowell Taggart Team

www.DowellTaggart.com

Applewood is a subdivsion in the South Eastern part of Olathe. According to the tax records there are 96 home in the Applewood Subdivision. In the past 6 months here is the real estate activity according to the Heartland MLS.





Total Homes Listed: 4
Homes Off the Market: 2
Sold Homes: 3
Homes Still Active: -1
Min. Price Sold: $176,950
Average Sold Price: $201,483
Median Sold Price: $221,500
Max. Sold Price: $221,500

With only 3% of the homes in the Applewood Subdivsion selling the past 6 months, Applewood appears to be a slow moving subdivsion.

When homes do come on the market, the sell fast. According to the Olathe Heartland MLS, current homes are selling within 3 weeks.

To find more information on the Applewood Subdivsion or any subdivsion in Olathe, contact the Dowell Taggart Team.

The Dowell Taggart Team
www.DowellTaggart.com

Amber Hills Estates Subdivision Stats
Total Homes Listed: 23
Homes Off the Market: 6
Sold Homes: 7
Homes Still Active: 10
Min. Price Sold: $212,500
Average Sold Price: $237,142
Median Sold Price: $240,000
Max. Sold Price: $295,000
Average Days on the Market is currently 33 days on the market.

With only 7 homes out of 23 selling the past 6 months, Amber Hills Estates is experiencing a slow market. This would be a great time to buy a home in Amber Hills Estates.
For more information, please contact The Dowell Taggart Team. (913) 980-5809.
www.DowellTaggart.com

For Immediate Release

February 6, 2006Alice Snider, Communications Specialist (913) 971-8784
City Council Recognize Several Honors at February 9 MeetingThe Olathe City Council will recognize at their February 9 meeting the Cedar Creek Wastewater Treatment Plant biosolids dewatering project for recognition by the Environmental and Utilities Division of the Kansas Contractors Association. The Association recognized the project for its innovation, enhancement of the plant's operation and savings in operation and maintenance costs as part of their 2004 Recognition of Excellence in Public Works program. The Cedar Creek Wastewater Treatment Plant project included the construction of a new sludge dewatering building, equipment, and odor control system.

The City Council will recognize Olathe students who contributed to Olathe?s standing as a City of Champions through their accomplishments during the fall 2005 semester.

The Council will recognize 2005 State champions Brianna Willard, Olathe North High School, girls? gymnastics, floor exercise and vault; Haley Craig, Olathe South High School, girls? singles tennis; the Olathe East High School Boys? Soccer Team; and the Olathe South High School Girls? Volleyball Team.

Twice a year the City Council will recognize Olathe students, from both public and private schools, who placed first in a state championship including, but not limited to academic and athletic competition.

Also, the City Council will issue a proclamation designating February 2006 as Black History Month in Olathe. The City will also recognize the rich culture and history of the African American population with banners on the light poles in downtown Olathe. The banners portray the images of two famous black Americans, civil rights advocate Martin Luther King Jr. and baseball great Buck O?Neil. The banners are displayed annually during January and February.
Dispose of Household Chemicals Safely SaturdayOlathe residents are asked to safely dispose of household products at Olathe?s Household Hazardous Waste (HHW) drop-off site, located south of the Olathe Municipal Services Center, 1385 S. Robinson, Saturday, February 11. The HHW collection site is open the second Saturday of the month year-round from 8 a.m. to noon. HHW also can be disposed of at other times by appointment. Call 913-971-9311 to schedule an appointment.

Household chemicals such as motor oil, antifreeze, paint, batteries and pesticides can be harmful to the environment and should not be thrown away with trash or dumped down the sink. Disposal of these types of chemicals at a HHW facility ensures proper disposal of the chemicals and helps protect the environment.

For more information, please call the Olathe Municipal Services Center at 913-971-9311.
City to Host Legislative Coffee: Public Invited to AttendThe City of Olathe will host the second in a series of legislative coffees at 8 a.m., Saturday, February 11 at Olathe City Hall, 100 E. Santa Fe. The series is designed to address key issues and provide opportunities for citizens to ask their State Legislators important questions. The event is free and open to the public. It also will air live on Olathe Cable Channel 7. The next event will be held Saturday, March 11.
February 7 Council Meeting RescheduledThe Tuesday, February 7 Olathe City Council meeting has been rescheduled for Thursday February 9 so that Council members may attend the Kansas Chamber of Commerce annual dinner in Topeka. The council meeting will be shown live on City Cable Channel 7 and rebroadcast on Friday, February 10 at noon; Saturday, February 11 at 6 p.m.; and Sunday, February 12 at noon.

Tim Talbott, Historic Site Manager, ttalbott@olatheks.orgAlexis Radil, Interpretative Specialist, aradil@olatheks.org(913) 971-5111
Children Can Enjoy Historical Stories at Lucinda Mahaffie?s Story time Saturday, Feb. 18Mahaffie Stagecoach Stop and Farm Historic Site will present "Stories about the Presidents of the United States" at Lucinda Mahaffie?s Story time from 10:30 - 11:30 a.m. on Saturday, Feb. 18, at the Santa Fe Building, 100 W. Santa Fe in Olathe. Enjoy stories with an historical theme, along with a period craft activity and a snack related to the themes. The next story time will be held March 11 and will focus on the Civil War.

This story time is for three to six year olds and pre-registration is required. The registration deadline is February 13. Participants can register through the City of Olathe?s Parks and Recreation Department at (913) 971-6263 or visit www.olatheks.org/ActiveLife. The registration for Olathe residents is $10 per child. The cost for non-residents is $11 per child.

City of Olathe News

Eastbound I-435 Traffic to be Detoured onto Oalthe's 119th Street Saturday Night

A KDOT project to construct an interchange at I-435 and Antioch will necessitate the temporary closure of nearly two miles of I-435 from Saturday night into Sunday morning.
All north-bound I-35 traffic headed for eastbound I-435 will be routed onto eastbound 119th Street from 10 p.m. Saturday, February 4 until 10 a.m. Sunday, February 5.
As a result, travelers on 119th Street east of I-35 will experience heavier than normal traffic. This includes the heavily traveled intersection of 119th and Strang Line near the Olathe Station shopping area and movie theaters. Motorists should plan ahead to find other alternate routes and avoid the area as much as possible.
City of Olathe traffic personnel will be staffing the City's Traffic Operations Center to monitor traffic flow.

Overall mortgage applications dropped 5.1 percent last week on a seasonally adjusted basis from the week before, with purchase loans taking the biggest hit, the Mortgage Bankers Association reported.

The seasonally adjusted purchase index decreased by 8 percent to 435.7 from 473.7 the previous week whereas the refinance index decreased by 1.5 percent to 1,747.2 from 1,773.9 one week earlier.

The refinance share of mortgage activity increased to 43 percent of total applications from 42.8 percent the previous week. The adjustable-rate-mortgage share of activity increased to 30.5 percent of total applications from 29.5 percent the previous week.

The average contract interest rate for 30-year fixed-rate mortgages increased to 6.2 percent from 6.04 percent one week earlier. Points including the origination fee decreased to 1.17 from 1.24 for 80 percent loan-to-value ratio loans.

The average contract interest rate for 15-year fixed-rate mortgages increased to 5.79 percent from 5.66 percent. Points including the origination fee increased to 1.22 from 1.14 for 80 percent loan-to-value ratio loans.

The average contract interest rate for one-year adjustable-rate mortgages increased to 5.48 percent from 5.44 percent one week earlier, with points increasing to 0.96 from 0.95 for 80 percent loan-to-value ratio loans.

Washington, D.C.-based Mortgage Bankers Association is a national association representing the real estate finance industry. The survey covers approximately 50 percent of all U.S. retail residential mortgage originations, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts.
***

As Predicted, NAR Sets Fifth-year Sales Record -- What's Next?
By Blanche Evans

Despite a nearly six percent decline in home sales in December 2005, existing housing sales easily set a fifth annual record, but what does 2006 hold in store?

Total existing-home sales, which include single-family, townhomes, condominiums and co-ops, were up over 4 percent for 2005. Over 7 million homes were sold, up from 6.8 million in 2004.
David Lereah, NAR's chief economist, says he expected the monthly sales decline. "This is part of the market adjustment we've been discussing, with a soft landing in sight for the housing sector," he said. "The level of home sales activity is now at a sustainable level, and is likely to pick up a bit in the months ahead. Overall fundamentals remain solid, driven by population and employment growth as well as favorable affordability conditions in most of the country, so we expect the housing market to remain historically high but lower than last year's record."
The national median existing-home price for all housing types was $211,000 in December, up 10.5 percent from December 2004 when the median was $191,000. The median is a typical market price where half of the homes sold for more and half sold for less.

But this may be the last year that housing sees double-digit gains for a while.
NAR President Thomas M. Stevens from Vienna, Va., said it may take a while for home price growth to cool. "We're coming off of five years of tight supply, and many sellers are accustomed to expecting very strong price gains and exceptional returns on their investment," said Stevens, senior vice president of NRT Inc. "With the supply of homes improving and buyers having more choices, the rate of price growth should come down to more normal levels this year."
Currently, says the NAR, there's a 5.1 supply of homes nationwide at the current sales pace, which is getting close to the 6-month benchmark of a "normal market," which neither overfavors the buyer or seller. Below six months of inventory, homes are said to be in a seller's market, where conditions favor the seller due to demand. Above six months, conditions favor the buyer, due to increased inventory.

Is it time to panic? Will sellers be unable to sell their homes?

"The sky is not falling in the housing markets, only cooling," reasons Lereah. "After five years of record-breaking performances, the housing sector is taking a breather -- home sales are falling and price appreciation is slowing. The great fundamentals that were in place that initially generated the boom -- historically low mortgage rates, favorable demographic trends (substantial home buying from boomers, immigrants and boomer children), and reduced home buying costs from technology innovation (Internet home search and mortgage application and closing processes) are still in place today."

Interest rates, according to Freddie Mac, are dropping. The national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.27 percent in December, down from 6.33 percent in November; and is 6.10 percent currently.

"If lower interest rates are sustained, the housing market could see some unexpected lift," Lereah says.

Yet, according to the California Association of Realtors, home prices are rising, but sales decreased nearly 18 percent in December. Why are sales trending toward softening?
"As the boom winds down, investors are exiting the markets, cleansing the speculative element in housing," explains Lereah. "There may be a handful of interest-sensitive local hot housing markets that experience a short-term contraction, but for the nation, as a whole, the boom is winding down to an expansion."

RE/MAX chairman, Dave Liniger predicts 2006 will be the second best year the real estate industry has ever experienced.
"I don't think the last two months are anything worse than a normal cycle of the real estate business. November and December declines were a normal reaction to fluctuating interest rates. This year we would anticipate that resales will probably drop 4 to 5 percent from the record pace that they were last year. I think we are going to see an outstanding year for the real estate business."

Like Lereah, Liniger expects housing prices to retreat more in some parts of the country than others, but for most regions, housing is unlikely to show a dramatic collapse, although he suggests, "You do certainly have to be a little concerned with properties that have shown double digit appreciation on both coasts."

He says the market will be much more "normal." "You're going to see price appreciation, depending upon the region you're in, somewhere between three and six percent."
One of the reasons that the housing market has been on a record setting pace is historically low interest rates. Liniger believes that rates may climb somewhat in the upcoming year, but not enough to derail the real estate market. "I think you're looking at very reasonable rates in the neighborhood of six-point-five percent before the year is over."

For clues to the future, Liniger advises keeping watch on the Baby Boomers. "They'll continue to keep the market hot," he predicts. "They see real estate being a very, solid investment, unlike recent experiences in the stock market. So, I think you're going to see second home sales continue to be very, very strong."

Copyright © 2006 Realty Times. All Rights Reserved.

Market Comment

Mortgage bond prices fell last week pushing interest rates higher. The durable goods report released Thursday was stronger than expected leading to the majority of the losses.
For the week, interest rates on government and conventional loans rose by about 3/8 of a discount point.

The Fed meeting Tuesday will be the most important event this week. Personal income, outlays, employment cost index, consumer confidence, ISM index, productivity, employment, and factory orders data will also be important.

Fundamental Week
Mortgage bonds traded in negative territory last week as traders prepared for an expected Fed rate hike this week. Fear and emotion dominated trading. The abundance of fundamental data this week provides a good opportunity for mortgages to recover from the beating they took last week. If the data this week reinforces the view that the economy is strengthening, mortgage bonds will continue to fall pushing mortgage interest rates higher. However, if the data comes in weaker than expected then a portion of the recent losses may be recouped.
Mortgage interest rates rose last week. Despite the negative movements, rates remain historically low. Now is a great time to avoid the uncertainty surrounding continued market volatility by locking your loan. Capitalizing on current levels protects against future volatility.

Market Comment

Mortgage bond prices fell last week pushing interest rates higher. The durable goods report released Thursday was stronger than expected leading to the majority of the losses.
For the week, interest rates on government and conventional loans rose by about 3/8 of a discount point.

The Fed meeting Tuesday will be the most important event this week. Personal income, outlays, employment cost index, consumer confidence, ISM index, productivity, employment, and factory orders data will also be important.

Fundamental Week
Mortgage bonds traded in negative territory last week as traders prepared for an expected Fed rate hike this week. Fear and emotion dominated trading. The abundance of fundamental data this week provides a good opportunity for mortgages to recover from the beating they took last week. If the data this week reinforces the view that the economy is strengthening, mortgage bonds will continue to fall pushing mortgage interest rates higher. However, if the data comes in weaker than expected then a portion of the recent losses may be recouped.
Mortgage interest rates rose last week. Despite the negative movements, rates remain historically low. Now is a great time to avoid the uncertainty surrounding continued market volatility by locking your loan. Capitalizing on current levels protects against future volatility.

City of Olathe News Brief
January 18, 2006


Residents Say Improvement Continues in the Most Recent Citizen Survey

The City of Olathe has released the results of its 2005 annual citizen survey, showing continued improvement in citizen satisfaction. The survey, conducted by ETC Institute, gauges resident satisfaction with city services as well as identifies key priorities.

The survey, DirectionFinder, has been used in Olathe since 2000. In addition to gauging resident satisfaction and priorities, it compares Olathe to other metropolitan and similar national cities. It has been an effective tool for the city and the City Council to set spending and personnel priorities to mirror resident wishes.

The 1,280 sample survey has a margin of error of plus or minus 2.8 percent.

Since the city began using the survey, DirectionFinder, the overall composite score for satisfaction has increased from a baseline of 100 to 115. It was 114 in 2004. Olathe has gone against the Kansas City metropolitan area trend, as the overall satisfaction index for the metropolitan area has decreased from the baseline of 100 in 2000 to 97 in 2005.

According to ETC Institute, Olathe's satisfaction increase during that time has not only been the highest in the metropolitan area, it is about double that of the next closest city. According to ETC?s Chris Tatham, Olathe is doing very well. He said, "Clearly, Olathe has made significant progress in resident satisfaction." He said, ?Each year they do a good job of applying limited resources to citizen priority areas.? He said, ?Olathe?s improvement is particularly impressive considering there has been a decline in satisfaction in many of the other communities during the past few years.?

When originally tested in 2000, Olathe ranked toward the middle in the major service categories tested in the survey. In 2005, the city ranked in the top 25% in seven of the eight categories tested.

And, for the first time, Olathe became the metropolitan area leader in citizens? rating of the overall quality of city services.

According to Olathe City Manager Michael Wilkes, measuring that improvement is of great value. He said, ?When we released the original survey from 2000, we announced this was a tool for residents to hold us accountable.? He said, ?We were pleased with the results, but we said residents should always expect us to improve?no matter how well we had done the year before.? Wilkes said, ?That remains our commitment?the results are again very positive, but we are committed to improving each year.? He said, ?Our City Council certainly expects such, and our residents should expect nothing less.?

According to Wilkes, the survey?s benefit is not just measuring areas that are doing well, but identifying areas that can be improved. He said, ?The survey allows us to identify areas needing attention and determine what should be done to address them.?

The survey now includes a mapping component that can identify areas of the city where satisfaction levels with various services could improve.

Other key findings include:
East/west traffic flow remains residents? single largest priority. Two major projects currently underway, the 127th Street overpass and the railroad grade separation projects, are designed to help with that issue.
The percentage of residents who felt police/fire/ambulance services should receive the most emphasis saw a statistically significant increase of 4 percent from 24 percent to 28 percent. The 2005 and 2006 budgets reflect that need and the Council direction prioritize public safety.
Satisfaction with residential trash collection, which was already rated the top in the metropolitan area, saw an increase from 87 percent to 91 percent after the city adopted the smart cart system.
Residents felt continued emphasis should be placed on snow removal on residential streets, which saw a 4 percent decline in satisfaction.
The percent of residents who use the city?s website as a primary source of information has more than doubled since 2003. It again increased from 17 percent in 2004 to 23 percent in 2005.
Residents feel more emphasis should be placed on teen recreation opportunities and walking and biking trails.

Study: Olathe is metro's best at providing city services
By Dan J. Smith, The Olathe News

Olathe residents rank their city as a good place to live, work and raise children in, but city officials acknowledge there still are areas that need improvement.

An annual resident satisfaction survey, presented Tuesday to the Olathe City Council, shows the city is tops among Kansas City-area communities when comparing residents' perceptions of their city services.

In measuring resident satisfaction of broad-based categories, including utility service, communication and overall public safety, Olathe ranked among the top 25 cities in the metro area in seven of eight categories. Enforcement of city codes was the lone exception.

"Overall, it's impressive that Olathe's done so well compared with the rest of the area," said Chris Tatham, vice president of Olathe-based research firm ETC Institute, which conducted the 2005 survey last fall.

The survey, which includes responses from 1,280 residents selected at random, has a 2.8 percent margin of error.Most encouraging, Tatham said, was that 81 percent of respondents — a new high for the metro — said they were satisfied with the overall quality of city services.Also, 95 percent said Olathe is a good or excellent place to live, 92 percent liked the city as a community in which to raise children and 72 percent said Olathe was a favorable environment in which to work.

Routine since ETC's first survey of Olathe residents in 2000, easing the city's east-west traffic congestion and boosting public safety staffing levels rank among residents' top mandates for city leaders to focus future budget and policy talks on.Councilmembers have approved millions in recent budgets to build a highway overpass at 127th Street, raise railroad tracks over four downtown intersections and beef up the city's fire and police forces to address those concerns.

"The practical place where we find ourselves is those are longer-term projects with long-term rewards hopefully," City Manager Michael Wilkes said. "They've taken us several years to get them cranking, and it'll now take a couple of years, I think, before we see some results."

A lack of recreation programming and slow progress in rejuvenating downtown are emerging concerns.The survey showed 53 percent of respondents — 5 percent more than in 2004 — weren't satisfied with the city's slate of senior recreation opportunities. Also, 57 percent gave a dissatisfied or neutral response — up from 49 percent last year — when asked about recreation programs for teenagers.

City leaders have discussed how best to tackle the issue.Talk continues about funding a community center using revenue from the city's eighth-cent parks and recreation sales tax.Ideally, the facility would address Olathe's lack of indoor fitness opportunities, but the council hasn't decided where it will be built, how soon it will open or, most importantly, how much to spend.Scheduling delays and differences of opinion about Olathe's plan to dress up and rebuild a section of Santa Fe Street through downtown, coupled with debate about whether to expand the city's existing parking garage, likely has contributed to a drop-off in residents' support of downtown initiatives.Compared with 2004 numbers, 5 percent fewer respondents are satisfied with the maintenance and preservation of downtown Olathe, according to the survey.

"If you go back to 2000, the first time we did this, and then track where we've spent our money in the last five years, you're going to see that the things that (residents) told us about in 2000 are the exact areas where we spent our money," Wilkes said. "The things that we're seeing now are the areas where we'll be spending our money in the future."

Four percent fewer respondents than last year — 56 percent — were satisfied with the city's enforcement of codes and ordinances. But that result comes with a caveat.

"When you just talk about code enforcement, there's not a lot of people that are really upset about it," Tatham said, "but there's not a lot of people thinking that it's being done in a positive way, so we're getting a lot of neutral responses as well."In general terms, city leaders can claim success from the survey's findings.

The city's overall composite satisfaction score — similar to a consumer confidence rating in economics — increased one point this year to 115 and is up 15 points from when the surveys began. By comparison, the score for the combined Kansas City area is down to 97 from 100 in 2000.

Olathe also earned high satisfaction marks for residential trash collection, which was up 4 percent in 2005 to 91 percent. Tatham and Wilkes credited introduction of the city's automated cart-based system for the improvement.

"We're putting our money exactly where we need to be putting it as a governing body and as an organization," Wilkes said. "That's why we do this (survey) — for people to give us their opinion on our service and how we spend our money, and the results show we're doing the right things and making the right decisions."

More Home Buyers and Sellers Use Internet, Practitioners(January 17, 2006) --

Technology is transforming how Americans buy and sell homes in unexpected ways, including how they work with real estate salespeople and brokers, according to one of the largest surveys of real estate consumers ever conducted and released today by the NATIONAL ASSOCIATION OF REALTORS®.

The 2005 NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers, based on more than 7,800 responses to a questionnaire mailed to a large national sample of consumers located through county deed records, is the latest in a series of surveys evaluating demographics, marketing, and other characteristics of home buyers and sellers.

According to the survey, nine out of 10 home buyers use a real estate professional in the search process, but use of the Internet to search for a home has risen dramatically over time, increasing to 77 percent of buyers in 2005 from only 2 percent in 1995; it was 74 percent in 2004. The next largest source of information for buyers is a yard sign, mentioned by 71 percent of buyers.

When asked where they first learned about the home purchased, 24 percent of buyers identified the Internet, up strongly from 15 percent in 2004 and only 2 percent in 1997. Although most buyers use a practitioner to complete the transaction, 36 first learn about the home they buy from a real estate professional and 15 percent from yard signs; five other categories were 7 percent or less.

NAR President Thomas M. Stevens from Vienna, Va., says the findings underscore the complexity of the homebuying process. “Buyers who use the Internet in searching for a home are more likely to use a real estate practitioner than non-Internet users, and consumers rely on professionals to provide context, negotiate the transaction, and help with the paperwork,” says Stevens, senior vice president of NRT Inc.

The real estate industry today bears little resemblance to how the the real estate industry conducted business 10 years ago, Stevens says. "It is hard to find another industry that has adopted technology so readily to its customers," he says. "REALTORS® have invested a lot of time and money in building information technology, and because of these efforts, more consumers than ever are using the Internet in their home search.”

The survey shows 81 percent of buyers who use the Internet to search for a home ultimately purchase through a real estate practitioner, while 63 percent of non-Internet users buy through a practitioner; non-Internet users are more likely to purchase directly from a builder or an owner they knew in advance of the transaction.

“We find that the level of for-sale-by-owners is on a sustained decline and is now at a record low," Stevens says. "In addition, a growing share of FSBO properties are not placed on the open market—they’re private transactions.”

A clear downtrend in FSBOs has been seen since that market share experienced a cyclical peak of 18 percent in 1997. Only 13 percent of sellers conducted transactions without the assistance of a real estate professional in 2005, and 39 percent of those FSBO transactions were “closely held” between parties who knew each other in advance, up from 32 percent in 2004. The FSBO market share was at 14 percent in both 2003 and 2004. NAR began tracking the FSBO market in 1981; the record was 20 percent in 1987.

“In reality, the term ‘FSBO’ is a misnomer when used to broadly describe homes sold directly by owners," Stevens says. "Since two out of five of these transactions are between related parties, and those properties are not placed on the open market, we believe that ‘unrepresented sellers’ would be a much more accurate term to describe this segment.”

The median home price for sellers who use a practitioner is 16.0 percent higher than a home sold directly by an owner ($230,000 vs. $198,200); there were no significant differences between the types of homes sold. “While many unrepresented sellers are motivated to save on paying a commission, we think the price difference speaks for itself,” Stevens says. “Owners without professional assistance also have problems in understanding and completing paperwork, prepping the home for sale, getting the right price, and selling within the time planned.”

Survey data don’t explain the price difference, but Stevens offered some context. “Real estate professionals know best how to prepare a home and maximize value, and they provide broader exposure to the market and are more likely to generate multiple bids, while the portion of sales that are between private parties are likely to be at a lower price than those on the open market.

“The housing market today contrasts sharply with predictions a decade ago that the Internet would ‘disintermediate’ real estate professionals, including speculation that NAR membership would fall in half," Stevens says. "In reality, it’s grown dramatically—selling real estate is not like selling a book or buying an airline ticket.”

REALTOR.com was the most popular Internet resource, used by 54 percent of buyers, followed by MLS Web sites (50 percent), real estate company sites (38 percent), real estate practitioner Web sites (31 percent), and local newspaper sites (15 percent); other categories were smaller.

Married couples make up the largest share of the housing market, accounting for 61 percent of transactions. Single women purchase 21 percent of homes while single men account for 9 percent. Unmarried couples were 7 percent of the market, and 2 percent were listed as other. In 2004, single women were 18 percent of buyers and single men were 8 percent.

The typical buyer walked through nine properties, searched eight weeks to buy a home and moved 12 miles from their previous residence. The typical seller placed their home on the market for four weeks, had lived in it for six years, moved 15 miles to their new residence and previously owned three homes, including the one just sold.

NAR’s senior economist Paul Bishop says both buyers and sellers use traditional methods to choose a real estate professional. “Word-of-mouth recommendation is the most common way to learn about real estate professionals,” Bishop says. “The most important criteria, whether you’re buying or selling, are the individual practitioner’s reputation and their knowledge of the local market.”

In finding a real estate professional, 44 percent of buyers were referred by a friend, neighbor, or relative, 11 percent used a practitioner from a previous transaction, 7 percent found a practitioner on the Internet, 7 percent met the practitioner at an open house, and 6 percent saw contact information on a For Sale sign. Six other categories accounted for smaller shares each.

The most important factor in choosing a real estate professional was reputation (41 percent of home buyers), followed by a practitioner's knowledge of the neighborhood (24 percent). In terms of desired qualities in a real estate professional, three categories were rated as very important by more than nine out of 10 buyers: knowledge of the purchase process, responsiveness, and knowledge of the market. Of buyers who use a real estate professional, 63 percent choose a buyer representative. Satisfaction with real estate professionals is very high, with 85 percent of buyers saying they were likely to use the practitioner again.

Seller responses are comparable: 43 percent chose practitionerd based on a referral by a friend, neighbor, or relative, and 28 percent used their practitioner previously; 10 other categories were 5 percent or less. Fifty-seven percent of sellers said reputation was the most important factor in selecting a real estate professional, followed by their knowledge of the neighborhood (17 percent). Eighty-two percent said they were likely to use the same practitioner again or recommend to others.

Four out of 10 respondents are first-time buyers, a finding that is consistent for more than a decade. The median age of entry-level buyers is 32 years, also typical over time, and the household income was $57,200. They made a down payment of 2 percent on a home costing $150,000, but 43 percent purchased with no money down. Of first-time buyers who made a down payment, 23 percent received a gift from a friend or relative.

The typical repeat buyer is 46 years old and had a household income of $83,200. They placed a down payment of 21 percent on a home costing $235,000, but 11 percent of repeat buyers paid cash for their home. In all, 94 percent of buyers and sellers believe their home purchase is a good financial investment.

“To underscore the value of housing as an investment, all you have to do is look at the difference in how repeat buyers purchase their next home—the wealth effect of home ownership provides the greatest source for their downpayment, which is significantly larger,” Bishop says. Aside from sellers who pay cash for their new home, 66 use the equity from their previous home for a down payment.

The most important factors in choosing a location to purchase a home are neighborhood quality (68 percent), close to a job or school (43 percent), close to family or friends (36 percent), and the school district itself (23 percent); seven other categories were under 20 percent.

NAR mailed an eight-page questionnaire to a national sample of 145,000 home buyers and sellers, based on county records, who purchased their homes between August 2004 and July 2005. It generated 7,813 usable responses; the response rate was 5.4 percent.—NAR

Bass Pro sets opening
Store is first phase in $268 million retail center
By BRANDON BABCOCK

The grand opening of Olathe’s Bass Pro Shops is planned for Nov. 9, less than 11 months away and in time for holiday shopping, said Larry Whiteley, company spokesman.
Today, dirt has been turned at the 119th Street and Renner Road site, and that’s about it.
Within a week of Olathe’s tentatively scheduled opening, the Kansas City area’s second Bass Pro could open its doors in Independence, according to Whiteley.
In Olathe, the company’s more detailed, final plans are coming together and the Planning Commission is scheduled to review those publicly for the first time Jan. 23.
It’s the first opportunity for citizens to see something beyond conceptual drawings for the $268 million, 625,000-square-foot destination retail center that was granted $55 million in economic incentives to come to the city. The center, located in by far the city’s busiest corridor, has been newly named Olathe Gateway.
Bass Pro will be the first phase.
Senior planner Sean Pendley said Thursday’s review by city staff yielded only minor revisions, and a November opening seems feasible.
“It’s certainly ambitious, but they have every intention of opening in November of this year,” he said.
Whiteley said as with all construction projects, weather will be a factor in the ultimate timeline.
Pendley said the city planning process should move quickly, but any delays there and the timing of nearby road improvements might make a difference. He expected to soon see a more detailed timeline that would clarify some of the potential roadwork issues.
North of Bass Pro, north of what will be a newly built 120th Street and east of Renner Road, the second phase of the project is getting closer to reality, but commissioners likely won’t discuss it the same night as the Bass Pro phase, as had been planned.
Pendley said the developer, Maefield Development, is asking for more time to revise plans as negotiations proceed. Preliminary plans called for eight retail buildings.
This portion of the project has been described by developers as a “festival marketplace” concept featuring clusters of one- and two-story retail buildings lining a pedestrian walkway through the middle of the site, with a strip-style retail building closer to the interstate.
If continued, Pendley said the item would likely return to the commission agenda in February.
To the west of Renner, the third and fourth phases would eventually stretch nearly a half-mile west and to the Benchmark furniture complex to the south.
This portion of the development has yet to resurface since financing was approved.
The Olathe Planning Commission meets at City Hall the second and third Mondays of each month at 7 p.m.

Area cities trail Olathe in births
Leawood birth rate low by contrast, survey says
By MICHELLE BURHENN
The Kansas City Star
Where do babies come from?
Well, in Johnson County, your safest bet is Olathe.
The latest vital statistics released by the Kansas Department of Health and Environment reinforce the notion that young people are flocking to the fast-growing suburb in southwest Johnson County. In Olathe, young families can find affordable homes and a school district planning for its burgeoning population.
The Annual Summary of Vital Statistics, released in November, compares cities and counties on the touchstones of a Kansan’s life: birth, marriage and death. It tells us which county gained the most population in 2004 (Johnson County) and which county lost the most (Ness County).
Out of the 11 Johnson County cities surveyed for live births in 2004, Olathe recorded the highest birth rate: 20.1 people out of 1,000 gave birth. That translated into 2,181 births last year to Olathe women. Only Overland Park, with 2,202 live births, topped Olathe by sheer volume. In contrast, Mission Hills and Leawood had the lowest birth rates, with 6.2 and 9.7 people out of 1,000 giving birth.
Olathe first broke the 2,000 births mark in 2002. A similar milestone was hit in Olathe this year: The Olathe Public Schools had its first 2,000-student kindergarten class. The school district is growing at a tremendous rate, Chris Gralapp, the district’s growth planner, said.
Gralapp said the district is now seeing the effects of the housing boom that hit Olathe earlier this decade.
“There’s not a lot of new construction now,” he said, “but the populations continue to rise because young families have bought these houses years ago and their kids are just now getting into the school system.”
With 2,181 births in 2004, compounded with the number of families that move to Olathe seeking better schools, the numbers are only going to get bigger, he said. Gralapp predicted Olathe would pass the Shawnee Mission School District within three years to become the second-biggest district in Kansas following Wichita Public Schools.
The Olathe district now has four high schools, which serve three grades each. Gralapp said Olathe has acquired land to build a fifth senior high school to deal with the demand.
Other survey tidbits:
■ Teen pregnancy rates continued to decline, but out-of-wedlock births were at an all-time high with 32.6 of babies born out of wedlock in 2004 compared to 25.9 percent in 1994.
■ Half of the state’s abortions were performed on non-Kansans.
■ Kansans were waiting longer to get married. Fewer brides (8.9 percent) and grooms (3.4 percent) were under 20 when they married in 2004 compared to 1995 (11.9 and 4.6 percent, respectively).
The survey results prove what many Johnson Countians have long known to be true. The cities near Kansas City are losing population and the cities that extend outward are gaining. But what the report shows is that the birth and death rates are compounding the exodus and tipping population totals toward the newer suburbs.
People who live in northeast suburbs are dying at a higher rate than those who live on the county’s outskirts. Merriam, Prairie Village and Mission topped the list with 8.5, 8.2 and 7.9 people per 1,000 dying last year. In contrast, those cities finished in the lower half of the birth rates as well, with only Mission Hills and Leawood reporting lower birth percentages.
Gordon Davis, aging information specialist at the county’s Department of Aging, said the department provides services to all areas of Johnson County, but his staff does note higher percentages of older residents in the inner-ring communities, such as Prairie Village and Mission.
“There are older pockets of housing there that traditionally are older neighborhoods that have people aging within them,” he said.
The lowest death rate for 2004 was Fairway’s, which had only 3.6 of 1,000 people dying last year. But its five-year rate crept up to 7, and the city with the lowest death rate over the past five years was – no surprise here – Olathe, where only 4.6 people per 1,000 population died in 2004.
Births, deaths and population growth
Johnson County posted the highest population growth statewide, above-average birth rates and below-average death rates in 2004, the most recent year for which figures are available. Here is how cities in Johnson County compare. Birth and death rates are the number per 1,000 people.

Birth rate in 2004
Births in 2004
Death rate in 2004
Deaths in 2004
Population in 2004
% change 2003-2004
Statewide
14.5
39,553
9
23,720
2,735,502
0.4
Johnson
15.4
7,651
5.7
2,827
496,691
2.1
Fairway
15.8
61
3.6
14
3,849
-1
Leawood
9.7
286
5.2
153
29,504
2.1
Lenexa
15.1
644
5.8
247
42,615
1.5
Merriam
13.3
143
8.5
92
10,774
-0.6
Mission
12.3
120
7.9
77
9,772
2.2
Mission Hills
6.2
22
4
14
3,524
-0.8
Olathe
20.1
2,181
4.7
508
108,390
3
Overland Park
13.5
2,202
5.8
948
162,728
1.5
Prairie Village
12.3
264
8.2
176
21,511
-1
Roeland Park
15.3
107
5.3
37
6,997
-1.1
Shawnee
16.5
927
5.4
301
56,178
3.9
The Kansas Department of Health and Environment did not include in its study complete data for De Soto, Edgerton, Gardner, Spring Hill, Westwood, Westwood Hills or Mission Woods.
County vs. state
Here is how Johnson county stacked up against statewide averages in 2004:
■ Population
County: up 10.1 percent.
State: up 0.4 percent.
■ Birth rates
County: 15.4 per 1,000.
State: 14.5 per 1,000.
■ Teenage pregnancy rates
County: 14.6 per 1,000 girls.
State: 26.1 per 1,000 girls.
■ Death rates
County: 5.7 per 1,000.
State: 8.7 per 1,000.
■ Marriage rates
County: 5.3 per 1,000.
State: 7.0 per 1,000.
■ Divorce rates
County: 0.8 per 1,000.
State: 3.2 per 1,000.

Council to Consider New Option for Ridgeview and Kansas City Road AreaThe City Council will consider at their January 17 meeting an application to create a Tax Increment Financing (TIF) district for the southeast corner of Kansas City Road and Ridgeview. The proposed TIF district includes the vacant Atmos Energy site and the two single-family residential properties to the south.
City Council will hear a presentation from KC Road Partners, LP, the applicant.

Recycle Cut Christmas Trees and Cardboard through January 31Olathe residents have through January 31 to recycle cut Christmas trees, cardboard and paperboard often associated with toys, electronics and other gift items.
Recycling drop offs are available at Black Bob Park, 14500 W. 151st Street and Prairie Center Park, 555 N. Olathe View Road, for cut Christmas trees, cardboard and paperboard through the end of January. Residents should remove all items from the tree (plastic bags, tinsel, ornaments, etc.) and flatten boxes and remove all non-cardboard items including Styrofoam, packing material, plastic and metal ties before recycling.
A permanent recycling drop off is available in the parking lot of the City's West Santa Fe Building, 200 W. Santa Fe (southwest corner of Kansas Ave. and Poplar St.).
Residents also may dispose of their tree as yard waste for Monday curbside collection in January. Trees must be cut to lengths no longer than 5 feet and be free of decorations or plastic bags.
The City will grind the trees in February and make wood chip mulch available to residents for use in their gardens. To verify wood chip availability or for more information, call 913-971-9311.

FOR IMMEDIATE RELEASE
Contact: Tim Talbott, Historic Site Manager, ttalbott@olatheks.org or Alexis Radil, Interpretative Specialist, aradil@olatheks.org - (913) 971-5111
Girl Scouts Learn about Valentine?s Day at Mahaffie?s "Historic Value of Valentines"
Participants will make Valentines to keep or give away at the Jan. 28 program.

Olathe, KS - Mahaffie Stagecoach Stop & Farm Historic Site?s first Girl Scout Valentine program, Historic Value of Valentines, will be Saturday, January 28 from 1 ? 3 p.m. at the Santa Fe building, 100 West Santa Fe.
Girl Scouts ages five to 17 are welcome to participate, where they will learn the historical origins of Valentine?s Day and the meanings of flowers, as well as make Valentines to keep or give to someone.
Each participant will have an opportunity to earn several badges through this program. Cadette and Senior Girl Scouts can earn their Artistic Crafts and Service Project badges; Junior Scouts can earn their My Heritage, Time Travel, and Across Generations badges; and Brownies can earn their Creative Composing Try-It, Caring and Sharing Try-It, and Colors and Shapes Try-It badges.
Girl Scouts ages 12 - 17 can arrive at 1 p.m. for their Valentines and then assist the younger scouts from 2 ? 3 p.m. Girl Scouts ages five -11 can arrive at 2 p.m. for their portion of the program. A variety of Valentines will be available to make and give away. Girl Scouts will be limited to three Valentines each.
Historic Value of Valentines for Girl Scouts is for ages five - 17 and pre-registration is required. The cost is $5 per scout and adults are free.
Participants can register individually or entire troops can register by calling Mahaffie Stagecoach Stop at (913) 971-5111 or email mahaffie@olatheks.org. Registration deadline is Friday, January 27 by 5 p.m.
The Mahaffie Stagecoach Stop and Farm Historic Site is operated by the City of Olathe. Open hours, stagecoach operations, living history activities, special events and programs vary seasonally. Access is limited in the winter months and the site is closed all major holidays. Please call or visit our website for current times and dates, http://www.olatheks.org/Admin/News/www.olatheks.org/Visitors/Mahaffie, (913) 971-5111.

Market Comment
Mortgage bond prices remained stable last week holding rates steady from the previous week. Interest rates rose earlier in the week, however, they recovered Friday with the release of some bond market friendly news. Retail sales and core producer price index data were lower than expected boosting hopes that the Fed may cease raising rates in early 2006.
For the week, interest rates on government and conventional loans remained unchanged.
The consumer price index Wednesday will be the most important release this week. Industrial production, capacity use, Fed "Beige Book", housing starts, Philadelphia Fed, and consumer sentiment data will also be important.
LOOKING AHEAD.

Fed "Beige Book"
The Fed "Beige Book" is a summary of economic conditions from each of the 12 Federal Reserve regional districts. The release takes place eight times a year approximately two weeks ahead of each of the Federal Open Market Committee meetings. The report is used at the FOMC meetings, which tends to be one of the most influential events in the market.
Market participants are continually attempting to determine what FOMC interest rate policy will be ahead of the next meeting. Any deviation from expectations usually results in extreme short-term market volatility. The timing of the "Beige Book" provides analysts a valuable look at one of the many factors the FOMC considers in setting interest rate policy. If the "Beige Book" shows signs of inflationary pressures, the Fed may decide to raise interest rates. However, if the report shows signs of difficulties, the Fed may lower rates to stimulate the economy.
Most analysts believe the Fed will raise interest rates again at the next meeting. Now is a great time to take advantage of rates at these favorable levels and to avoid future volatility.

City Council Special Business Items Recognize Employees and Martin Luther King Day
City of Olathe Considers Company for Grade Separation Project's Utility Relocations
City Offices Closed January 16
Children Can Enjoy Historical Stories at Lucinda Mahaffie's Storytime: First of Three Storytimes Begins on Saturday, Jan. 14 at the Santa Fe Building
Winners of Martin Luther King Jr. Essay Contest to be Announced at Noon Observance

City Council Special Business Items Recognize Employees and Martin Luther King DayScheduled special business for the Tuesday, January 10 City Council meeting:

The Council will recognize Olathe Environmental Program Coordinator Carly Adams for receiving the KACEE (Kansas Association for Conservation and Environmental Education) Rising Star award at the 2005 Kansas Environmental Education Conference in October. The award recognizes individuals who are new to the environmental education field in Kansas, but who are already making an impact. Carly was nominated for this award for her efforts to help develop and implement new environmental programs for the Olathe Municipal Services Department. These programs include the Lake Olathe Watershed Protection project, Olathe AquaFest, the Earth News feature in the Olathe Link, Think WOW! (Wise Outdoor Watering), stream stewardship activities, and teacher workshops. KACEE is a private, non-profit association whose mission is to promote and provide effective, non-biased and science-based environmental education throughout the state of Kansas.

Major Andrew Rook, a field services supervisor in the City?s Municipal Services Department, will present the Council with a certificate from the National Committee for Employer Support of the Guard and Reserve, recognizing the City of Olathe as a "Patriotic Employer." This designation recognizes the City for contributing to national security and protecting liberty and freedom by supporting employee participation in America?s National Guard and Reserve force. Major Rook has 21 years of military service as a combat engineer and is currently a member of the Missouri Army National Guard.

The Council also will recognize 40 City employees for assisting Gulf Coast cities following Hurricane Katrina and proclaim January 16 as Dr. Martin Luther King, Jr. Day.


City of Olathe Considers Company for Grade Separation Project?s Utility RelocationsThe Olathe City Council will consider awarding a contract to Dennis Johnson Construction Inc. for the utility relocations necessary for the construction of the East Track Grade Separation project at the Jan. 10 City Council meeting. This is first of three phases for the $32 million project that will lift the eastern tracks over four major downtown intersections.
The project consists of the relocation of sanitary sewers, storm sewers and waterlines necessary for construction of the Burlington Northern Santa Fe (BNSF) Grade Separation - an elevated double track structure adjacent to the west side of the existing BNSF Fort Scott subdivision tracks to eliminate the exiting at grade crossings at Loula, Park, Santa Fe and Ridgeview.

The utility relocation project is Phase I of the Santa Fe Grade Separation project and will be funded with GO Bonds. The work on the first phase is expected to begin in February 2006 and is expected to be completed in April 2006.

The bid opening for Phase II is Feb. 21 and consists of the majority of the work - construction of four bridges and the elevated rail structure. Phase II construction will begin in April 2006 and is expected to be completed in September 2007. Phase III will be bid in 2007 and will include the reconstruction of Loula St., Park St., Santa Fe Ave., and Ridgeview Rd. Reconstruction of the streets could begin in September 2007.


City Offices Closed January 16City offices will be closed Monday, January 16 in recognition of the Martin Luther King, Jr. holiday. Residential trash, yard waste and curbside recycling will not be affected by the holiday.



Children Can Enjoy Historical Stories at Lucinda Mahaffie?s Storytime:First of Three Storytimes Begins on Saturday, Jan. 14 at the Santa Fe BuildingMahaffie Stagecoach Stop and Farm Historic Site?s first Lucinda Mahaffie?s Storytime will be from 10:30 ? 11:30 a.m. on Saturday, January 14, at the Santa Fe Building, 100 W. Santa Fe in Olathe.

There are three to choose from this winter. All will be at the same time and location.
Join us for a cozy morning on a winter Saturday. Enjoy stories with an historical theme, along with a period craft activity and a snack related to the themes. The following are the storytimes schedules and themes:
January 14-Mahaffie staff dressed in historical clothing will read about stagecoaches. The day?s activities will include making thaumatropes and snacking on biscuits.
February 18-Stories about the Presidents of the United States
March 11-Stories about the Civil War
Storytime is for three to six year olds and pre-registration is required.

Participants can register through the City of Olathe?s Parks and Recreation Division at (913) 971-6263 or visit www.olatheks.org/ActiveLife. The registration for Olathe residents is $10 per child or you can register for all three storytimes at once and save $5. The cost for non-residents is $11 per child.

The Mahaffie Stagecoach Stop and Farm Historic Site is operated by the City of Olathe. Open hours, stagecoach operations, living history activities, special events and programs vary seasonally. Access is limited in the winter months and the site is closed all major holidays. Please call or visit our website for current times and dates, www.olatheks.org/Visitors/Mahaffie, (913) 971-5111.


Winners of Martin Luther King Jr. Essay Contest to be Announced at Noon ObservanceWinners in the 2006 Annual Dr. martin Luther King, Jr. Essay Contest cosponsored by the City of Olathe, Olathe District Schools, the Olathe Human Relations Commission and the Olathe Chapter of the NAACP will be announced at a noonday celebration honoring the civil rights leader on Friday, January 13.

The celebration will be held in the Olathe City Council Chamber, 100 E. Santa Fe, and will be presided over by Mayor Michael Copeland.

A record 1,047 entries were received from students in the Olathe school district?s eight junior and four senior high schools using the theme, ?If you look at schools today, what would Dr. Martin Luther King Jr. say about his dream of diversity.?

After a preliminary screening by the school district, a panel of judges from the Olathe Human Relations Commission and the Olathe Branch of the NAACP narrowed the finalists down to three junior high and two high school essays.

On Friday, the high school finalists will read their essays during the hour-long memorial. A panel of judges from the community will judge these finalists on several criteria including delivery.

The high school winners will be vying for cash prizes of $200, $100 and $50 and the junior high students will be competing for savings bonds awards of $200, $100 and $50.
The winners also will be invited to appear at the NAACP banquet to be held on Monday, January 16.

Interpreters for the hearing impaired will be provided. For more information, call 913-971-6490.

For more up-to-date City of Olathe info. including Construction Areas and Job Opportunities, visit the City website at www.olatheks.org.

January Council and Planning Commission Schedules and TV Rebroadcasts ModifiedThe Olathe City Council will not meet on Tuesday, January 3 because of the New Year's holiday. The next regular City Council session will be Tuesday, January 10.

Because the January City Council and Planning Commission meetings both occur during the same weeks, the Channel 7 rebroadcast schedule will be modified. Each City Council and Planning Commission meeting will be shown live and then rebroadcast that same week on the following schedule:
The City Council meetings will be rebroadcast the following Wednesday at 6 p.m., Friday at noon, Saturday at 6 pm. and Sunday at noon. Note: the January 13 rebroadcast will be delayed until approximately 1 p.m. to accommodate the live broadcast of the annual Martin Luther King, Jr. Celebration at noon.

The Planning Commission meetings will be rebroadcast the following Thursday at 6 p.m., Saturday at noon and Sunday at 6 p.m.

Dispose of Household Chemicals Safely SaturdayOlathe residents are asked to safely dispose of household products at Olathe?s Household Hazardous Waste (HHW) drop-off site, located south of the Olathe Municipal Services Center, 1385 S. Robinson, Saturday, January 14. The HHW collection site is open the second Saturday of the month year-round from 8 a.m. to noon. HHW also can be disposed of at other times by appointment. Call 913-971-9311 to schedule an appointment.

Household chemicals such as motor oil, antifreeze, paint, batteries and pesticides can be harmful to the environment and should not be thrown away with trash or dumped down the sink. Disposal of these types of chemicals at a HHW facility ensures proper disposal of the chemicals and helps protect the environment.
For more information, please call the Olathe Municipal Services Center at 913-971-9311.

City Council to Recognize Martin Luther King, Jr. Holiday: Special Event Planned The Olathe City Council will recognize the 2006 Martin Luther King Jr. holiday with a proclamation at their Tuesday, January 10 meeting. The Martin Luther King Jr. holiday is officially recognized on Monday, January 16; City offices will be closed.

A Martin Luther King Jr. observance will be held at noon, Friday, January 13 in the City Council Chamber, 100 E. Santa Fe, and will feature essay readings by senior high school students. The theme of this year?s annual essay contest is "If you look at schools today, what would Dr. Martin Luther King say about his dream of diversity?"

A panel of judges representing the community will determine the final high school winners as the top three finishers read their essays at the public gathering. The winners also will be honored at an evening banquet sponsored by the Olathe Branch of the NAACP on Monday, January 16 at the Doubletree Hotel in Overland Park.

The January 13 observance also will include Olathe Mayor Michael Copeland who will present a proclamation honoring King. It will be shown live on City Cable Channel 7. The noon event is sponsored by the Olathe Human Relations Commission and Olathe District Schools and endorsed by the high school SASH (Students Achieving Social Harmony) groups.
Interpreters for the hearing impaired will be provided. For more information, call 913-971-6490.

Market Comment
Mortgage bond prices rose last week pushing interest rates slightly lower. Despite the Fed rate increase, there is hope that the continued Fed rate hikes may soon come to an end. For the week, interest rates on government and conventional loans fell by about 1/4 of a discount point.
The producer price index Tuesday will be the most important event this week. Housing starts, income, outlays, leading economic indicators, durable goods orders, consumer sentiment, and new home sales will also be important.
The market closes early Friday in advance of the holiday the following Monday. The shortened trading week and likely thin trading conditions may lead to mortgage interest rate volatility.

Inflation Data
The mortgage bond market received some great news last week. The consumer price index, a major gauge of inflation at the consumer level, fell a remarkable 0.6% in November. This was the largest drop in over 50 years. Signs that inflation remains in check bode well for fixed income securities such as mortgage bonds. The lower than expected consumer price figure also helps reinforce the belief that the Fed is near the end of continually raising rates. However, the consumer price core rate, which excludes volatile food and energy prices, rose 0.2%. While this number remains tame, others point out that the Fed will need more than data from one month before they change their course.
If future data echoes that of November’s consumer price data, then it is very likely mortgage interest rates will remain the same or even push lower. However, there is still worry that the energy markets remain volatile and therefore the threat of inflation still remains. The good news is that mortgage interest rates remain historically favorable for homeowners. It is a great time to take advantage of rates at the current levels.

City of Olathe News BriefsDecember 12, 2005

Trash Collection Schedule Unchanged by Christmas and New Year's Holidays: City Offices Closed for Both Holidays
This Week?s Council Meeting Scheduled for Thursday: December City Council and Planning Commission Meeting and Channel 7 Rebroadcast Schedules Modified
Coffee Creek Meadows Recommended for approval by Planning Commission

Trash Collection Schedule Unchanged by Christmas and New Year?s Holidays: City Offices Closed for Both HolidaysBecause Christmas and New Year?s Day both fall on a Sunday, the City of Olathe residential trash and recycling collection schedules will be unchanged. Trash and recycling will be collected as usual. The Olathe Transfer Station, 1681 S. Valley Road, and the City's Composting Facility, 127th and Hedge Lane, will be closed December 24 and 31 and open regular hours the Mondays following each holiday.

City offices will close for the Christmas holiday at noon Friday, December 23 and remain closed through Monday, December 26. Offices will be closed Monday, January 2 for the New Year?s Day holiday.


This Week?s Council Meeting Scheduled for Thursday: December City Council and Planning Commission Meeting and Channel 7 Rebroadcast Schedules ModifiedBecause of the Christmas holiday, the December City Council meeting schedule and City Cable Channel 7 meeting broadcast schedule have been modified. This week?s City Council study session is scheduled for Thursday, December 15. Council meetings are typically scheduled on Tuesdays.

The next regular Council meeting will be held Tuesday, December 20. The meeting will be broadcast live and rebroadcast Wednesday, December 21 at 6 p.m.; Friday, December 23 at noon; Saturday, December 24 at 6 p.m.; and Sunday, December 25 at noon.

The December 26 Planning Commission meeting has been canceled due to the Christmas holiday.

For more information about the Olathe City Council, Planning Commission or City Cable Channel 7 visit www.olatheks.org or call 913-971-8600.


Coffee Creek Meadows Recommended for approval by Planning CommissionThe Olathe Planning Commission recommended approval of the most recent development in Coffee Creek at its Nov. 28 meeting.

Coffee Creek Meadows, located at the northwest corner of future 167th St. and Mur-Len Road, will have 191 single family residential lots, 232 planned single family villa lots and 118 attached two-family dwelling units. The total development area is 142 acres and the overall density is 3.8 units per acre.

Coffee Creek Meadows will have three different zoning districts, R-1 (Single Family Residential), RP-1(Planned Single Family Residential) and RP-2 (Planned Two-Family Residential). The rezoning applications are scheduled for the Dec. 20 Olathe City Council meeting at City Hall.

So far, these projects have been approved by the City Council for the Coffee Creek Master Plan area:
Cedar Ridge Park
Fairfield at Heritage Park
Forest Hills Estates
Heritage Manor
Stonebrook Farms
For more information on the developments in the Coffee Creek area, contact Sean Pendley, senior planner, (913) 971-8662.

Mortgage bond prices rose last week pushing interest rates slightly lower. The Treasury auctions were moderately bid and did little to help mortgage bonds. However, market sentiment was positive most of the week as market analysts expect the Fed to change their continuous course of rate increases soon.

For the week, interest rates on government and conventional loans fell by about 1/8 of a discount point.

The Fed meeting will be the most important event this week. Retail sales, trade data, consumer price index, industrial production, and capacity use will also be important.


Fed Meeting:
The United States central bank, the Federal Reserve, coordinates the borrowing and lending activities of federally chartered banks. The principal reason the Federal Reserve was created was to reduce severe financial crises. One way of accomplishing this goal is to control the amount of money that flows through the economy. By manipulating the US money supply, the Fed influences inflation, unemployment, and the level of US economic activity. The Fed has a variety of tools that it uses to control the money supply, but its chief policy tool is the manipulation of short-term interest rates.

While every Fed meeting is a major event in the financial markets, this week’s meeting may carry additional weight. While another rate increase is expected, traders are eagerly hoping that the Fed revises its outlook for the future with a sign of an end to the rate hikes. A revised outlook by the Fed could result in a rally for mortgage bonds pushing rates lower. However, indications that the Fed will continue to raise rates may not bode well for mortgage bonds. The good news is that despite the consistent rate hikes mortgage interest rates remain historically favorable for homeowners. It is a great time to take advantage of rates at the current levels

Keller Williams Realty raises more than$4M for Katrina survivors

AUSTIN, TEXAS (Dec. 09, 2005) - In a concerted effort to help its Gulf States market centers recover from Hurricane Katrina, Keller Williams Realty Inc. and its public charity, Keller Williams Realty Cares (KW Cares) has raised $4.4 Million.The amount is not far behind the collective fundraising efforts of the National Association of REALTORS®, which has raised $5.8 million for hurricane relief.

Keller Williams Realty Vice Chairman Mo Anderson says Keller Williams Realty's giving culture has enabled the real estate franchise operation to "respond meaningfully" to its associates in need. As of mid-November, individual donations from Keller Williams Realty's 55,000 associates had reached $3.4 million. Additionally, the company's 500-plus market centers across the United States and Canada had donated $945,000 - earmarking 10 percent of their profits to KW Cares.

"We are making history in real estate with KW Cares, which has been supporting our associates in times of extreme hardship since 2003," Anderson says. "At Keller Williams Realty, we believe you have to give to get, and we're determined to hit our goal of raising $5 million for our Gulf States associates."

In addition to the fundraising campaign, KW Cares launched a long-term relief program called Heart 2 Heart, which is helping more than 700 Keller Williams Realty associates rebuild their lives and businesses. The adoption program enables volunteer Keller Williams Realty market centers in other regions to assist specific Gulf States associates impacted by Hurricane Katrina.

Released 12/8/05As a result of the snow storm, some residents may experience delays in curbside collection. City crews will continue working despite the snow, but may not be able to complete routes as quickly as usual.

Any delay should be minimal and only impact a small number of customers. If a route is not completed on the scheduled day, crews will collect trash and recycling the following day.
Residents are asked to place trash and recycling containers by the curb as usual. They are asked to leave the containers at the curb until crews are able to remove the trash and recycling.
The city deeply regrets any inconvenience caused by potential delays. Crews will be working as hard as possible to collect all trash and recycling. If necessary, crews will be working on Saturday to get back on schedule.

City plow crews have been working non-stop since yesterday morning. All major streets have been plowed, and the majority of residential streets have received one pass. Nearly all residential streets should be plowed by the end of the day, and crews will continue working around the clock clearing the remainder of snow from streets.

Chris Dowell
www.DowellTaggart.com

City of Olathe News BriefsDecember 5, 2005
Olathe Housing Authority Receives Family Self Sufficiency Grant from HUD
Olathe Named Among Top Ten Digitally-Savvy Cities in Nation
Dispose of Household Chemicals Safely Saturday
Still Time to Enter the MLK Jr. Essay Contest

Olathe Housing Authority Receives Family Self Sufficiency Grant from HUDThe Olathe Housing Authority is a recipient of a $47,500 grant from the United States Department of Housing and Urban Development (HUD) to enhance their Family Self Sufficiency Program. Nationally HUD is awarding $45.5 million dollars in grants to help low income families become employable, self-sufficient and first-time homeowners. This is the second year in a row that Olathe Housing Authority has applied for and received this national HUD grant. Olathe Housing Authority is one of only six Housing Authority's in Kansas receiving this grant.

The Olathe Housing Authority?s Family Self-Sufficiency (FSS) Program provides Section 8 Housing Choice Voucher tenants an opportunity to become self-sufficient within five years by entering into a contract with the housing authority. The five year plan outlines major goals and accomplishments that will need to be met in order to meet the self-sufficiency goal.

To become self-sufficient the head of household and/or other adult will explore job training or placement programs, continuing educational classes, counseling, parenting and childcare, transportation, money management and homeownership opportunities.

Tenants who participate in the program will not only be improving their family?s financial situation but will also learn the value of savings and investment accounts. As the family?s income goes up the housing authority will place funds in an interest-bearing escrow account. This savings account could be used by the tenants to help them accomplish their goals such as paying educational expenses or a down payment on a home purchase. Once the family successfully completes their contract, any funds in the escrow account are given to the graduate of the FSS program.

This grant will be administered by Olathe Housing Authority staff with some of the services and classes offered through an inter-agency agreement between the City of Olathe Housing Authority and Catholic Community Services.


Olathe Named Among Top Ten Digitally-Savvy Cities in NationThe City of Olathe has been named one of the most digitally-savvy, cutting-edge cities in the nation, according to the 2005 Digital Cities Survey, an annual study conducted by the Center for Digital Government, a national research and advisory institute on information technology in government and education. The City of Olathe was ranked seventh of cities with a population of 75,000-124,999. Olathe ranked eighth in the 2004 survey.

The annual study examines how city governments are utilizing digital technologies to better serve their citizens and streamline operations. Mayors, city managers and chief information officers in more than 300 cities across the nation were invited to participate in the survey.

The Center and the National League of Cities (NLC) developed the survey and annually invites more than 600 city mayors, managers and chief information officers to participate. Survey questions focused on implementation and adoption of online service delivery; planning and governance; and the infrastructure and architecture that make the transformation to digital government possible. Open-ended questions allowed cities to discuss their initiatives on collaboration, enterprise activities, spatial data, policy priorities, and structure data.

For more information visit www.centerdigitalgov.com/center/05digitalcities.php


Dispose of Household Chemicals Safely SaturdayOlathe residents are asked to safely dispose of household products at Olathe?s Household Hazardous Waste (HHW) drop-off site, located south of the Olathe Municipal Services Center, 1385 S. Robinson, this Saturday, December 10. The HHW collection site is open the second Saturday of the month year-round from 8 a.m. to noon. HHW also can be disposed of at other times by appointment. Call 913-971-9311 to schedule an appointment.

Household chemicals such as motor oil, antifreeze, paint, batteries and pesticides can be harmful to the environment and should not be thrown away with trash or dumped down the sink. Disposal of these types of chemicals at a HHW facility ensures proper disposal of the chemicals and helps protect the environment.

For more information, please call the Olathe Municipal Services Center at 913-971-9311.


Still Time to Enter the MLK Jr. Essay ContestOlathe junior and senior high students are invited to submit essays in the Martin Luther King Jr. essay contest sponsored by Olathe District Schools, the City of Olathe, the Olathe Human Relations Commission and the Olathe Branch of the NAACP. The essay contest is open to junior and senior high students in the Olathe school district or Kansas School for the Deaf (KSD) who are sponsored by their Students Achieving Social Harmony (SASH) organization. KSD students are sponsored by the Olathe North SASH group.

This year?s theme, "If you look at schools today, what would Dr. Martin Luther King say about his dream of diversity," is taken from King?s ?I Have A Dream? speech delivered in Washington, D.C. in 1963.
Students are to submit an essay of no more than 450 words in length to their language arts or activity advisor at their respective schools. Schools must have their student essay entries collected and submitted to the school district by 4 p.m. on December 9, 2005.

Junior high school entries will be judged on theme, originality, organization and grammar. Senior high entries will be judged on the same criteria with the addition of oral presentation.
Cash prizes in the amounts of $200, $100 and $50 will be awarded to the top three senior high finalists while junior high winners will receive savings bonds in the amounts of $200, $100 and $50.

Top entries will be presented and winners will be announced at the City of Olathe?s Martin Luther King Jr. Celebration at noon January 13, 2006 in the Council Chamber of City Hall, 100 E. Santa Fe. The senior and junior high winners will read their presentations at the Olathe Branch of the NAACP celebration at 7 p.m. on January 16, 2006 at the Double Tree Hotel in Overland Park.

The goal of the Olathe Human Relations Commission annual essay contest is to increase positive awareness, foster greater understanding, and celebrate the diverse groups which make up our community.
For more information contact George Dunmore, Olathe Human Relations Commission, 913-390-0078.
For more up-to-date City of Olathe info. including Construction Areas and Job Opportunities, visit the City website at www.olatheks.org.

Sales of New Homes Jump 13% in October(November 30, 2005) -- New-home sales rose 13 percent last month to an annual rate of 1.42 million units, the U.S. Commerce Department reports. Some analysts believe the surprising figures can be attributed to buyers rushing to beat higher interest rates or take advantage of builders' incentive programs.

Regionally, new-home sales surged 47 percent in the West, 43 percent in the Northeast, and 1.9 percent in the South but slipped 9.5 percent in the Midwest. However, the big increase is being questioned by David Seiders, chief economist for the National Association of Home Builders, and David Lereah, chief economist for the NATIONAL ASSOCIATION OF REALTORS®, both of whom anticipate revisions in the report. Source: Washington Post (11/30/05); Fleishman, Sandra

Chris Dowell
www.DowellTaggart.com
Keller Williams Realty Partners, Inc.
Serving Greater Kansas City, including Olathe, Gardner, Overland Park, Lenexa, Shawnee & Leawood.

If You Are a Victim of Identity TheftCall The Federal Trade Commission's identity theft hotline immediately at 1-877-438-4338 to file a complaint and to get information and more help on what steps to take.

Chris Dowell
www.DowellTaggart.com
Keller Williams Realty Partners, Inc.
Serving Greater Kansas City, including Olathe, Gardner, Overland Park, Lenexa, Leawood & Shawnee.

Defaults Rise on Subprime Mortgages(November 30, 2005) -- The delinquency rate for subprime adjustable-rate loans rose to 6.23 percent between January and September, from 3.72 percent during the same period last year. Many of these borrowers opted for interest-only, low-documentation loans with interest rates that will adjust after two years, when some analysts predict a surge in delinquencies. Mark Agah, analyst at Portales Partners, says ARMs likely will hit $440 billion by the end of the year, up from $400 billion in 2004 and $220 billion in 2003. Some of these borrowers will find themselves in financial turmoil if home prices stall, preventing them from refinancing to extract cash or to make their monthly payments more manageable. Source: Wall Street Journal (11/30/05); Eisinger, Jesse

Chris Dowell
www.DowellTaggart.com
Serving Greater Kansas City, including Olathe, Gardner, Overland Park, Lenexa, Shawnee & Leawood.

Making a mistake in selling an Olathe or Gardner, Ks. home can cost you hundreds or thousands of dollars in lost profit. Often home sellers make the same mistakes over and over. Avoiding these mistakes is easy and takes little time and effort on your part. Take the time with your home sale and follow the guidelines in this report.

1. Distress Selling: At times, selling quickly is unavoidable. That’s when knowing the right techniques to sell your home without looking desperate and making yourself a target for low bidders really pays off. Know all there is to know about the market before listing and work hand in hand with the right real estate professional. Ensure that you are not settling for the first offer through the door.

2. Best Home in the Neighborhood: Your home is one of your most personal possessions. Don’t be blind to flaws and needed cosmetic improvements. This will cause overvaluing of the home, hurting it’s chances to be sold. Listing with the right agent gives you a well informed third eye that will help you price your home at a fair market price.

3. Limited Home Viewing: Buyers want to view a home on their own time schedule. Unfortunately their time schedule does not always coincide with your time schedule. Leave a lockbox or key with your agent so your home can be shown when you are not around. You never know if the one who got away was your buyer.

4. Restrain Emotional Decisions: Don’t allow a few hundred dollarsto ruin a sale. That money will mean very little to you in the long run. Take a look at the big picture and react rationally. Use sound business judgment!

5. Make Cosmetic Improvements: Prospects make up their minds within the first twenty minutes. First impressions can make all the difference in selling your home. Spending $1,200 on new carpet might add another $4,000 to the price of your home. Get an objective point of view from your real estate professional. They can provide you with a list of items that will maximize the profit of your home sale.

6. Disclose Property Flaws: Property disclosure laws require sellers to list any flaws required by your state. If you are unaware of flaws or attempt to cover them up, you risk losing the sale and finding yourself in court. Get professional assistance from your agent who can introduce you to qualified inspectors and ensure the smooth sale of your home.

7. For Sale By Owner: Most homeowners who decide to sell their own home do so because they believe they can save the commission paid to the real estate agent. Everything has a price and selling a home carries a high one. The enormous amount of time and effort required to sell a home often surprises the “For Sale By Owner.” Furthermore, many costly mistakes can be avoided with the right guidance.

8. Refusing to Trust Your Agent: Would you tell a physician that you’ve decided to run your own tests and come to your own diagnosis? By choosing the right Realtor, you can relax and trust their judgment. The right agent is a valuable team member who will protect your best interests and make your sale as profitable as possible.

9. Know Your Market: Most homes that do not sell in their first listing period are priced too high. Conversely, most homes that sell quickly are priced too low and cheat the homeowner out of profits. You need to understand the market and evaluate the value of your home based on fact, not gut instinct or conventional wisdom. A professional agent knows the market, just as you know the market for your business.

10. Choosing a Realtor Based on Personal Relationships: Home sellers often pick a friend or family member as their agent. Choose an agent with a strong track record and aggressive Marketing Plan. A top producer knows the market well and can generate many buyers. Selling your home is one of the most important decisions you’ll ever make! Base it on good, sound business sense and the rewards will add up.

Before you make one of your most important decisions regarding your home sale shouldn’t you become as informed as possible? By aligning yourself with a top agent you ensure that all the important issues and seemingly insignificant but... very important... details are handled professionally. Your home sale should not be a grueling ordeal. The more informed you are, the better chance you have of making a sound business decision.

I sincerely hope these tips and ideas are of value to you. If there is any way I can be of service, please contact me. I would consider it a privilege to be of service to you! If you would like a FREE consultation, call me at: 913-980-5809.

Chris Dowell
www.DowellTaggart.com
Keller Williams Realty Partners, Inc.
Serving Greater Kansas City, including Olathe, Gardner, Overland Park, Lenexa & Shawnee.