Despite the real estate market turnaround, I'm getting no offers on my million dollar home. I need to relocate to Dallas. If I don't sell, I will need to rent it. Is there a market for rentals of million dollar homes in Kansas City? It just seems that Kansas City luxury home buyers want new homes.

Question: Despite the real estate market turnaround, I'm getting no offers on my million dollar home. I need to relocate to Dallas. If I don't sell, I will need to rent it. Is there a market for rentals of million dollar homes in Kansas City? It just seems that Kansas City luxury home buyers want new homes.
Janice H. from Kansas City


Answer: Sorry to hear about your problems, Janice. I'm assuming that you have hired an aggressive real estate agent to market your home on the web, so your home maybe priced to high. 


If you can't lower the price or stage your home to beat out the newer luxury homes, you may look into other options like offering financing options.


Many Kansas City luxury home buyers are self employed and may need help in financing. I have seen some home sellers successful by offering a 2nd mortgage, a lease purchase option or owner financing. These options may help get your home sold.


If your home was a little lower in price I would suggest renting out your home until the luxury home market changes. I have been told that there is not a demand for million dollar rental properties in Kansas City, so I would not explore that option.


Not all Kansas City luxury home buyers want new homes. Older million dollar luxury homes sell in Prairie Village, Mission Hills, Old Leawood and Fairway, Kansas. All of these areas have older homes, unless a builder buys a home and tears it down and builds a new home.


Hope this helps, Janice.




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