TKC BREAKING NEWS FACT CHECK!!! LAND BANK OF KANSAS CITY OFFICIAL WARNS: #HEARTOFKC OLD & BUSTED $999 HOUSES REQUIRE AT LEAST $20K IN REPAIRS!!!
Recently Kansas City headlines touted affordable homes for sale by a local institution for a shocking low price of $999.
The extent of repairs required to the renovate the vacant and repossessed homes was buried by local news outlets and often unreported.
To wit . . .
#HEARTOFKC HOUSING HYPE IS NOTHING BUT A TEASE!!!
TKC reality check:
LAND BANK TINKERING WITH THE KANSAS CITY HOUSING MARKET WILL COST BUYERS BIG BUCKS ON THE BACK END FOR LOUSY LOTS!!!
Here's the most important quote on the topic . . .
Ted Anderson, Executive Director, Land Bank of Kansas City assuming that people who purchase the houses are doing the work themselves: "It'll probably be $20-30,000 dollars to put one of these houses in livable shape. For our application, they're going to need to show they have $8500 in the bank so they can at least get started on a rehab. They're going to need to finish the code violations on the outside in at least 4 months. They'll have an additional 8 months to put the property in habitable condition."
The news BREAKS the local cycle of hype and should be reported first and foremost in the interest of public safety . . . Credit due to this really informative video for the whole story:
Is it worth it??? You decide . . .
There's always a bright side TKC.
ReplyDeleteRemember that it takes codes enforcement at least a year to even look at any complaints.
So there's really no way they can check to see if these houses are improved.
Maybe all these house should be given to immigrants and refugees.
ReplyDeleteSee what they can really do and how serious they are.
LOL right. Here you go it's a house have fun!
ReplyDeleteThe Party's Over
ReplyDeleteTOP PHOTO - TOOL TIME
ReplyDeleteWhen Candice is on the job site, the erectors work overtime!!!
First, ask yourself why all these properties have been abandoned.
ReplyDeleteThen work to do something about THAT!
Hint: It's not because of "food deserts" or lack of wi-fi connections.
Must be because of no streetcar
DeleteCrap houses for a ton of money: Welcome to "smart" Kansas City!
ReplyDelete954 is dead on the money. There's a reason they've been empty for decades, and all this land back bullshit is frosting on a pile of shit.
ReplyDelete$20k is a low ball figure. That's if your doing the work yourself. Not everybody is a professional home repair person. If you need to call other people in, and you will.
ReplyDeleteWe're talking $50,000 worth of work. To live in a crime-ridden war zone?
No thanks.
Ted Anderson is getting fatter and more bald. He deserves worse but this is a start.
ReplyDeleteEven at 50 grand its what--a $400 payment? There have to be some hard working folks who want that instead of paying $950 for a crappy rental house.
ReplyDeleteThis sounds like a very bad deal.
ReplyDeleteLess of a bad deal: Buy a vacant lot and put a premanufactured home on the lot. Modular homes are 76 dollars per square feet on average.
Build modest double shotguns with a nice front and back porch and you can probably bang em out for 50 grand plus the cost of the land and the enviromental inspection.