Today I get a letter from Warren Buffett

Today is one of my favorite days of the year. The day Warren Buffett writes me a letter.

OK, OK, the letter may not be written just to me but when I read it I wouldn't know the difference. Millions of people around the world are anxiously waiting (like me). This letter will be read tonight by some of the smartest and richest business people in the world, will you be one of them? It is one of the most insightful writings I will read all year and every year I cant wait.

It is Warrren Buffett's annual letter to the shareholders of Berkshire Hathaway. It is chalked full of insight, opinions, and Buffett-isms. It is the one time a year you will be able to get into the mind of one of the smartest investors of all time. There is no telling what he will cover but I would be surprised if the housing market, muni bonds, interest rates, government, globalization, and the dollar are not on the list.

Anyone who would like to take a look will be able to find it on the Berkshire Hathaway website later today. They say you can learn a lot from a dummy, well you can learn even more from a Genius. Good luck.

Michael Pierce, Realtor - Prudential Kansas City Realty

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Overland Park gets county approval of 8.5 sq mile land annexation

Johnson County Commissioners voted 5-1 in favor of an approximate 8.5 mile land annexation by Overland Park. Overland Park was originally wanting the southern annexation to extend to around 203rd street but received approval for an annexation that extends to around 191st and as far south as around 199th st in parts. The Kansas City Star reports that the annexation granted works out to be about 60% of what Overland Park had originally anticipated.

Michael Pierce, Realtor - Prudential Kansas City Realty

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Mission Forest Subdivision Information and Market Activity - Leawood Real Estate

Mission Forest is a subdivision located south east of 103rd street and Mission Road in Leawood Kansas. The Plat for the Mission Forest subdivision (BLKS 1-4) is made up of 45 homes. The subdivision is comprised mostly of 1.5 and 2 Story homes built in the late 1970's. Mission Forest is located in the Shawnee Mission School District with the schools for most of the homes being Shawnee Mission East High School, Mission Valley Middle School, and Brookwood Elementary School.

Mission Forest is conveniently located within easy access to 435 Highway as well as Kansas City Missouri and Overland Park Kansas. It also is located just north of the new Mission Farms mixed use development being built at 107th and Mission Road.

Here is the past 12 months of market sales statistics for the Mission Forest subdivision as of 02/25/2008. There are currently no homes actively listed in Mission Forrest but if you would like to be set up to be notified by email when a new listing comes out in Mission Forrest, you may sign up for that free service through my website by clicking here.

Michael Pierce Real Estate

Total Homes Listed (in the past 365 days):4

Total Homes Currently Active:0

Sold Units:3

Min Sold Price:$425,000

Average Sold Price:$478,500

Median Sold Price:$532,500

Max Sold Price:$532,500

Michael Pierce, Realtor - Prudential Kansas City Realty
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All information deemed reliable but not guaranteed.

New Listing Video for Johnson County Sellers

I have recently completed an updated version of my listing video for people thinking about selling their Johson County Home. This Video is only about 2 minutes long and is a brief overview of some of the services I offer for my clients. A lot of agents not only do not offer this level of exposure for your home, most agents dont even know these technologies exist.

Michael Pierce, Realtor - Prudential Kansas City Realty

Kenilworth Subdivision Market Activity Praire Village / Overland Park Real Estate

Kenilworth is a subdivision located just East of Roe, off of 95th street. The subdivision is unique in that some of the subdivision is located in Overland Park and some is located in Prairie Village. The subdivision is located in the Shawnee Mission School District and feeds into a few different schools depending on where you live. Some of the Subdivision goes to Shawnee Mission East High School and some goes to the Shawnee Mission South High school. Most of the homes in the Subdivision were built in the early to mid 1960's and there is a diverse range of sizes and floor plans in Kenilworth including Ranches, 2 Stories, and Split level homes.

Here is the past 12 months of market statistics for the Kenilworth subdivision as of 02/18/2008. If you are thinking about buying or selling in Kenilworth, give me a call or visit me at my website below.

Total Listed:16
Sold Units:15

Min Sold Price:$221,000

Average Sold Price:$297,853

Median Sold Price:$335,000

Max Sold Price:$375,000

Michael Pierce, Realtor - Prudential Kansas City Realty

Data Source: Heartland MLS. All information deemed reliable but not guaranteed.

The Federal Reserve's Golden Parachute has some holes in it

After this mornings higher then expected CPI data, it looks like the Federal Reserve may have their hands tied on lowering interest rates again when they meet March 18th.

The lowering of the Fed Funds rate has been Ben Bernanke's Golden Parachute when it comes to trying to spur economic growth and ward off recession (if we are not already in one). Now with more inflation concerns, it is a lot less likely they will be able to continue to lower the Fed Funds rate. The inflation concerns may also start to weigh on the long term rates causing them to rise.

One silver lining to this mornings data was that the Commerce Department reported a .8% increase in housing starts last month. This was below many analysts expectations but to me it sure looks a lot better then Decembers 14%+ decline.

It will be interesting to see how the Fed will react to this recent economic data. Will Uncle Ben be able to come to the rescue?


Michael Pierce, Realtor - Prudential Kansas City Realty

Sprint Nextel moving its Corporate Headquarters back to Overland Park

It looks like Sprint has decided to relocate their corporate headquarters back to Sprint Campus in Overland Park Kansas. Overland Park was the corporate headquarters for Sprint prior to the 2005 merger. Once Sprint and Nextel merged, they moved their corporate headquarters to Reston, VA and made Overland Park their operational headquarters. While this is good news for Overland Park, it sounds like this will only affect a small number of senior management and will not bring any more significant number of jobs to Overland Park. I guess Overland Park will at least get the name recognition again for being the home of Sprint's headquarters as well as an opportunity for future growth.

Oh yeah, one more thing....Are you or your clients moving from Reston to Overland Park? If so, I know of a great Realtor in Overland Park:

Michael Pierce, Realtor - Prudential Kansas City Realty

http://www.bizjournals.com/kansascity/stories/2008/02/11/daily27.html

Bel Air Heights Overland Park Kansas Info

Here are the past 12 months of market statistics for the Bel Air Heights subdivision in Overland Park Kansas (as of 02/09/2008). Bel Air Heights is right about on the border of Overland Park and Prairie Village at about 95th and Nall. It is located within the Shawnee Mission School District. The schools for this subdivision are Shawnee Mission South High School, Indian Woods Middle School, and Trailwood Elementary School. If you are thinking about buying or selling in Cherry Hills, give me a call or visit me at my website below.

Michael Pierce Real Estate

Total Listed:24

Sold Units:13

Min Sold Price:$150,000

Average Sold Price:$204,384

Median Sold Price:$219,000

Max Sold Price:$259,000

All information deemed reliable but not guaranteed

Pinehurst Estates Overland Park Kansas

Here are the past 12 months of market statistics for the Pinehurst Estates subdivision in Overland Park Kansas as of 02/09/2008. If you are thinking about buying or selling in Pinehurst Estates, give me a call or visit me at my website below.

www.MichaelPierceRealEstate.com
Total Listed:14
Sold Units:9

Min Sold Price:$199,000
Average Sold Price:$358,638
Median Sold Price:$375,000
Max Sold Price:$560,000

All information deemed reliable but not guaranteed

Cherry Hills Subdivison Overland Park Real Estate Info

Here are the past 12 months of market statistics for the Cherry Hills subdivision in Overland Park Kansas (as of 02/09/2008). If you are thinking about buying or selling in Cherry Hills, give me a call or visit me at my website below.


Michael Pierce Real Estate

Total Listed:12
Sold Units:9

Min Sold Price:$170,000
Average Sold Price:$237,655
Median Sold Price:$244,000
Max Sold Price:$357,000





All information deemed reliable but not guaranteed

Empire Estates Subdivision info Overland Park Kansas

Here are the past 12 months of market statistics for the Empire Estates subdivision in Overland Park Kansas as of 02/09/2008. If you are thinking about buying or selling in Empire Estates, give me a call or visit me at my website below.


Michael Pierce Real Estate

Total Listed:16
Sold Units:11

Min Sold Price:$153,500
Average Sold Price:$234,563
Median Sold Price:$250,000
Max Sold Price:$279,000

All information deemed reliable but not guaranteed

South Overland Park, A new Hospital is on your horizon

South Overland Park & Leawood Residents; are you tired of going to 119th and Nall or 124th and Metcalf when you need to go to the hospital? Well dont worry, it sounds like a south (or even further south I guess you could say) Overland Park Hospital is on the horizon:

Shawnee Mission Medecial Center Plans southern Overland Park hospital, medical office.

Greystone Estates South Lenexa Kansas

Here are the past 12 months of market statistics for the Greystone Estates South subdivision as of 01/31/2008. In 2007 I was involved in 33% on the transactions to close in the subdivision (excluding if any sold by owner). Each of the transactions I was involved in had the home under contract in less than 7 days. If you are thinking about buying or selling in Greystone Estates South, give me a call or visit me at my website below.

Click Here to search all the homes listed for sale in Johnson County

Total Listed:8
Off Market Units:1
Sold Units:6
Remaining Units:1*

Min Sold Price:$219,900
Average Sold Price:$248,418
Median Sold Price:$246,500
Max Sold Price:$290,000

* Remaining Units = (Total Listed) - (Off Market Units + Sold Units)

Information deemed reliable but not guaranteed