According to the Kansas City Regional Association of Realtors (KCRAR) report issued recently, Kansas City’s real estate has seen steady growth due to the combination of a thriving job market and favorable economic conditions. Founder and President of the national portfolio acquisition and real estate development company CTK Group, — Chris Kamberis has shared his expert opinion on the progress and opportunities that are expected to come to the region as a result.
The account from the KCRAR shows that home sales are remaining strong as buyer demand is outnumbering current supply. Economists predict that this growth will continue over 2017, after comparing local data between January 2016 and January 2017 and outlining its stability. Chris Kamberis is confident the news will stimulate other sectors and have a lasting impact on the local economy overall. “When Kansas City is enjoying healthy real estate, and when residential deals reflect a strong market, the trend often transfers to other industries too,” the expert developer stated. “This could include the financial sector, commercial markets, and construction manufacturing.”
Despite witnessing its strong growth in Kansas City, investors are carefully monitoring the real estate market before moving forward with large-scale projects. In 2016, city-wide sales were reported to be up 13.6 percent for both new and resale properties in a recent MLS report, with the average sale prices rising by 5.6 percent. “Currently, the inventory is lower than desired with an estimated four-month supply of homes for sale in Kansas City instead of the preferred six-month for a balanced market. This means buyers have fewer options to choose from, which tips the properties in favor of the sellers,” says Kamberis.
Investor confidence for the development of more varied projects, like shopping centers and restaurants, is reinforced when the amount of available housing stays low and the property prices rise. Developers and real estate experts such as Kamberis are monitoring the Crane Watch Map released by the Kansas City Business Journal to help track these ongoing commercial projects. Contractors are also motivated to work with local councils by the recent growth, in an attempt to seek financing and attract larger and more mixed-use developments, which combine commercial and residential property within a single building for communities.
As the founder of CTK Group, Chris Kamberis has more than twenty years of experience in real estate development and transactions involving sale-leaseback, disposition, and acquisitions for a number of international companies. He has been directly responsible in providing properties for businesses including, Burger King Corporation, Bank of America, McDonald’s, and Starbucks Corporation. CTK Group works closely with Fortune 500 companies throughout the nation, managing a wide range of real estate needs effectively and efficiently. The firm assists its clients improve the value of their property and positions in the marketplace through strategically focused solutions. As each individual opportunity is researched by CTK Group, all transactions and projects are overseen personally by Chris Kamberis, allowing him to directly analyze the project and its market potential.
Chris Kamberis - Property Expert and Founder of CTK Group: http://www.chriskamberisnews.com
Opus Development plans 256 apartments over retail in Westport: http://www.bizjournals.com/kansascity/news/2017/03/06/opus-development-westport-256-apartments-retail.html
New Westport player flips one of his properties for Opus' redevelopment: http://www.bizjournals.com/kansascity/news/2017/03/07/ctk-group-developer-chris-kamberis.html
Release ID: 211218