WSU's Real Estate Forecast study for 2008 is titled "Island Of Calm". That's it in a nutshell. 2008 is projected to be the 8th straight year of growth (from memory?). The report is several pages long with many interesting graphs, stats. WSU is out of the reports...Ambrose Team has small supply left that we can mail out by request. Homes in Wichita, Bel Aire, etc will be under contract at top dollar if positioned correctly. My biased view is that the most important factor is to consult with a local super star REALTOR. There are approx. 2000 agents in the area...in 2004 24% failed to close even one transaction! I learned this yesterday from an executive staff person at the local board. The avg agent sells 8-10 yr. a great agent 70+++ I would not hire an agent that sells less than 3 homes per month consistently (absolute minimum!!) ...with the exception of really a gung-ho rookie that you have tons of faith in due to their enthusiasm, energy, etc. and they can prove that they have a true ace as a mentor that is working closely with them. from:Katherine Ambrose,ABR,CRS,GRI ambroseteam. com at Keller Williams Realty(owner-operator) 807-5079
Now if you're selling to downsize, not a great time. you'll lose more on your house than you'll save on the new one, typically.
DOM still varies by area and condition. Houses in Hot areas like Derby, upscale areas, West-side, BelAire, Andover, typically have lower DOM - 2-3 months average. The more updated, clean, move-in ready it is, the shorter the DOM. Since buyers have so much to choose from, the cream of the crop is getting picked.
I'd be happy to sit down with you and show you recent sales and activity in your area so that you can make a more informed decision. I promise you straight talk.
Fill in some info on my site for us to contact you if you want and we'll be happy to get you some information more tailored to your area and situation.
$115 -$170 range - there are so many jobs here, I haven't heard of anyone having trouble selling and have several friends who have been able to sell their homes within days or a few weeks and buy new ones that they wanted to grab before someone else got them. I think if we put our house up for sale, it would be sold within a few days - things are still very good here - and prices in Wichita for housing have always been extremely reasonable - lots of new homes too - new areas fil up quickly with new buyers