Market Conditions in 67037>Question Details

Angie, Home Buyer in Wichita, KS

Why do I hear that the prices of houses are going down and it is a buyer's market but when I look for homes?

Asked by Angie, Wichita, KS Fri Mar 21, 2008

in Derby, the prices are ridiculous? Is Derby THAT MUCH better than Wichtia?

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It is about what the town has to offer and the direction it is going have you driven through Derby in the early evening, seen the parks check the free concerts, For me it is . But we are talking Real Estate here so if you find the house you like you can always make an offer they are still willing to negotiate in Derby.

Good Question
Thanks Tricia 316-305-3682
1 vote Thank Flag Link Sun May 22, 2011
From what I have seen looking at house in the past month half of them are bank owned/near bank owned and the other half are short sales.
1 vote Thank Flag Link Sat Aug 29, 2009
We're with Chris in Olathe! Yes it is a buyers market (generally speaking), just look at the foreclosure opportunities. But all real estate is "local", down the neighborhoood. If you have a highly sought-after area in Derby - you can expect home values to remain strong. That's not the case for every neighborhood.
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1 vote Thank Flag Link Fri Mar 21, 2008
Real estate is local. News is national. Check with a producing agent in your area for a realistic expectation.
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1 vote Thank Flag Link Fri Mar 21, 2008
A lot of sellers have not yet faced the reality that our country real estate market is solely price driven. You can ask anything for a property but will you get it?
1 vote Thank Flag Link Fri Mar 21, 2008
I must say when I moved from Tucson, AZ my parents bought a house in Derby. Now that I have a family of my own we have bought a house in Derby. I would never live anywhere else. Wichita homes are cheaper but look at all the crime rates and things of that sort. I would rather drive a little for work or to the mall or where ever so that I can ensure when I am working 7p-7a my family is safe!!
0 votes Thank Flag Link Sun Apr 22, 2012
I think it's important for buyers to decide on where they want to live and consider what that community has to offer such as quality of life,safety,education,and whether or not that community can stand the test of time.There is good reason that Derby holds it's value,it has been recognized national wide as a top 10 community to raise a family,a top 10 community for retirement.I would advise people to not just consider the price but everything that comes with it.If you or you know someone that is considering Derby,Ks. please give me a call at (316)519-9933 Steve Davis
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0 votes Thank Flag Link Tue Dec 14, 2010
Angie, Im sure it depends on who you ask. Wichita (and surrounding areas) are not subject to what you see on the national news. Our homes have experienced a modest (but steady) increase around 5% every year. Derby is experiencing significant growth now, commercial and residential. Recently the were just sited as one of the top 5 places to raise a family. Not all home prices are ridiculous. There are still good values out just depends on what you're looking for and if you have a professional Realtor working to help you find it. Hope that helps. Call or email me if I can be of further assistance. ~Charlotte
0 votes Thank Flag Link Thu Mar 27, 2008
If you are looking in a specific area and the homes are SELLING at a higher price then the same home in another nearby town/city then the answer is simply the area you are looking is more desirable to more buyers. This can happen for a number of reasons. It is always best to have an expert (your favorite Realtor) do some research for you to explain pricing in detail.
0 votes Thank Flag Link Wed Mar 26, 2008
Derby made it in Family Circle's Best Towns for families. It is considered a local hot spot, with a lot of growth lately and a lot of new building, with great schools. It's not that one town is better than another, but a personal preference. Derby is still fully in growth phase, and not yet experiencing the stagnation that Wichita has recently developed in prices.

You'll hear prices are going down, yes. They've recently started going down a bit. But you'll run into a lot of sellers that are upside down and can't lower the price even a dollar without owing at closing. It's a buyer's market, but it's still a hard one. There is a LOT of selection out there though, so it is still a pretty good time to buy! Sellers want to be negotiable, but many just don't have that leeway. Keep that in mind, get pre-qualified, and you should have your pick of homes!
0 votes Thank Flag Link Sat Mar 22, 2008
People are stubborn, you must wait a year or so.
when the house has been on the market for several years,
people begin to "see the light" so to speak.
Wait, be patient, it is a buyers market for the next 5-6 years.
0 votes Thank Flag Link Fri Mar 21, 2008
you are so funny...I have been looking for 2 years in Derby for a home to retire to,,,and now the time has come and I have actively been looking and if there is a good home with nice updates, it is not on the market for 3 days....if you find a home in Derby,KS that you like, you better put an offer on it THAT day!!!
Flag Wed Nov 27, 2013
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