Home Buying in Wichita>Question Details

(o), Both Buyer and Seller in Wichita, KS

Any local experts able to answer some questions about 67219 (Park City)?

Asked by (o), Wichita, KS Wed Apr 23, 2008

We are thinking about moving to this area, near N. Hydraulic and Prairie. A lot of new homes are being built in this part of town. Some of the homes back up to Hydraulic. Is Hydraulic, this far north, a quiet road? WIll it be quiet for the next 10 years? Is this area near any chemical plants? I see lots of warehouse type buildings but no refineries or metal works. Is this region underneath a flight path from the airport or some of the local airplane manufacturers? How is the resale of this area (though new). Crime? Schools (elementary)? Do kids here also go to Wichita schools and have access to the Magnet schools?
I have read on the city-data website that Park City is given the name "trailer" Park City by the locals. Is this referring to the area more north? This location appears to be very south, on the edge of Wichita proper.
Regardless of the nickname, I find the area pretty. It is fine for me, but I am just concerned about selling in the future. Thanks in advance.

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You might want to go to http://www.Veros.com and look at the report regarding stability in the Real Estate Markets. Wichita, KS is listed as #1 in the whole nation! Yeah! Great news for all of us. We never have experienced the "bubble" that the East and West Coasts have had. Our values increase between 3 to 8 % depending upon location, development, school zone, etc. You should be able to figure a minimum of 2-3% per year. For example: if you purchase a home for $100,000 and sell it in 5 years with a 3% increase per year you might expect to sell for $115,927. If you would like to have a better margin for resale you should consider buying a new build with an unfinished basement and doing the finish work yourself. You can build quite a bit of "sweat equity" and have a better chance of making a good profit in the time frame that you have. If you need more in depth information please feel free to call me at 316-655-5566 or email me at Rebecca@WichitaWaterfront.com
Rebecca
0 votes Thank Flag Link Wed Apr 23, 2008
Thank you Rebecca for answering so quickly. I am mostly concerned with resale. It seems like property in Wichita never experienced the real estate boom but instead plodded along with slow rises in value. But it looks like most of the value is late in the process as neighborhoods get established (15 yrs down the road). My concern is for resale in the short term (5-10 years). Will I be able to get anything back after commissions? I am looking to own the home outright with 5-7 years. I just want to know if it would be unrealistic to expect some increase in property value in that time frame on the order of 7-10%. Thanks in advance.
0 votes Thank Flag Link Wed Apr 23, 2008
Some of your questions will be difficult to answer since we don't have a crystal ball. There is a lot of new construction in the Park City area and the developments are looking very nice. Historically Park City may have had a reputation that it doesn't deserve because of the lower end homes that are there, probably in the area farther north. There is a lot of commercial property along N Broadway, some along N Hydraulic which is relatively quiet but is still a
"highway" style street with a higher speed limit. Hydraulic will carry traffic that is entering and leaving the Kansas Colliseum so that will depend on events that are occuring at that venue. No way to tell how much development will occur over a 10 year spread. You can check with the developers in the areas that you are interested in to see if they have a long-term plan for the area.
I doubt that it is under a flight path since it is so far north of the Municipal Airport. Again, you can call Air Traffic Control at the airport and ask them. I don't recall actually noticing a lot of Park City as I fly in and out of the city.
Crime statistics are available at SedgwickCounty.org, just scroll down to "crime" and you can check by zip code or by mapping.
Schools seem to be Chisholm Trail Elementary, Pleasant Valley Middle, Heights High School but can be verified by calling 316-973-4498.
You can check the school statistics/test scores at my website: http://www.WichitaWaterfront.com
I'm including a link for you to view the last 6 months of sales and the actives in this area, you can also see the Days On Market. Don't be deceived if the DOM are very long because it could have been a model home.
I hope this is helpful, please feel free to contact me if I can assist you with anything else or in the purchase of your home.
Rebecca Dowty 316-655-5566
0 votes Thank Flag Link Wed Apr 23, 2008
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