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Market Conditions in Sedgwick County : Real Estate Advice

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Activity 20
Fri Feb 27, 2015
AF Farha answered:
I attended Wichita State University, and my son is going there right now. I'd be happy to respond to your questions about my alma mater. Please e-mail me to afarha@weigand.com.
0 votes 2 answers Share Flag
Thu Jan 29, 2015
Josh Barnett answered:
Calling the principal of the school is always the best way to gather information on the school.
0 votes 2 answers Share Flag
Tue Dec 9, 2014
Lindsay Gathmann answered:
Hello!! I would love to help you find a home when you get here! I am an AF spouse here and helps LOTS of our fellow military members! email me and I can send you info on Wichita and the community!! lindsay.gathmann@gmail.com ... more
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Wed Mar 5, 2014
Rhonda Overman answered:
Wichita home sales have now been rising for three straight years. In fact, sales in 2013 are on pace to rise by 12.5%, the largest year-over-year gain on record. Based on studies, this trend should continue into 2014. This information is made available by the WSU Center for Real Estate and is part of a publication entitled "2014 Wichita Housing Market Forecast". At your request, I would be happy to provide you with a copy of this forecast. Feel free to email me at roverman@prudentialkansas.com ... more
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Tue May 21, 2013
Audra answered:
Great! Home prices are coming back up and interest rates are crazy low.
0 votes 3 answers Share Flag
Fri May 10, 2013
Deb Anderson answered:
I see that you are in Arizona. Since I have only been here 8 years, I asked the same question when I arrived. During the 40's and 50's McConnell AFB had housing built for military and also Boeing had housing built for employees. There are a lot of 2-3 bedroom, 1 bath small homes, some with a 1 car garage.The neighborhoods vary...some are primarily owner occupied, some are almost all rental properties. People in Wichita are very conservative. They don't pay more than what they think the property is worth, for the most part. Tax appraisal is key here. Some of the lower priced properties are in disrepair or in a very rough neighborhood.
But, we also have beautiful homes in flourishing neighborhoods for$130,000 up to $1.5 million. It just depends on what you are looking for. If I can help, let me know.
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Fri May 10, 2013
Deb Anderson answered:
Price per square foot varies by location, condition and year built. Do you want an average or specific locations? The National Association of Realtors has a report that is much more reliable than Zillow or Trulia. A Realtor can give you a report in a few minutes. Let me know what you need and I'll email it to you. ... more
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Sat Jun 9, 2012
Roger Nickel answered:
I am familiar with this house. The sellers have spent over $60,000 updating the home to 2011 standards. As in all things real estate, price and terms are negotiable. Roger 316 871-7653 ... more
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Fri Dec 2, 2011
Brianna Branine answered:
There are 3 townhouses/condos that are for sale on Gold. They all look like great investment properties! Are you working with an agent yet? Would love to give you some advice and discuss rental rates for the property! Give me a call at 316-941-6788 or email me at brianna@grahamrealtors.com! ... more
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Fri Jul 15, 2011
Tricia Avila answered:
Mon May 30, 2011
Dallas Texas answered:
Tax questions you need to ask your CPA professional who can handle your particulars

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
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Wed Feb 23, 2011
Kim Smith-Martin answered:
This should be an easy thing, yet sometimes becomes difficult. I agree with all the answers, there are many variables involved. Established builders will start building your home contingent on you selling your current home and then release you from your contract if you can not sell, but it can be heart breaking to see "your" new home go if you are not ready to buy. On that same note builders may require you pay up-front for extras and overages that may not be refunded unless the builder can sell the home to someone else who is willing to pay for the same extras. Of course the best situation is to go into a new build without a home to sell. If you can't pre-sell your home at least make sure you have a good agent and do not over price the home you are trying to sell. Another option may be to turn your current home into a rental, but you will need to check with your lender to see if you can still qualify this way. Good Luck :) ... more
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Thu Feb 25, 2010
Charlotte Patterson answered:
Casador, it really depends on the property. Homes that have been well maintained and properly renovated will always hold and/or improve their value. College Hill is a great area and draws a lot of interest. If you have a scpecific property you are looking at purchasing or selling, email me with the address and I will get more specific information for you. Charlotte Patterson 316-409-0398 CharlottePatterson@cox.net ... more
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Mon Mar 9, 2009
Maite answered:
Thanks Kerry,

Charlotte I did review the data at WSU, thanks. I wonder why they used the starting point from 2000 -- isn't that a little old? I would think a more current 2006/7 forward look would be more appropriate, in my mind as a buyer. But, I'm not an expert in these matters! Thanks for the link, it was informative!

Kerry, nice site, if I have any questions I will give you a call to discuss.
... more
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Sun Mar 1, 2009
Kerry Dunn answered:
I assume you are considering the purchase of investment properties in Wichita, and when you say you were given appraisals of these properties, you are referring to the county appraisals. If this is correct , I would definitely recommend having an actual market analysis done by a real estate professional before making an offer. In several cases the county appraisal for a property is usually lower than the market value of a home in good condition, however if you are talking about a distressed home, it could be quite the opposite, because I'm sure the the county appraisal was not done for the home in its current condition. I work with several investors in the area, and I've noticed that when dealing with bank owned properties, the banks are much firmer on the price of a property for the first 30 days, but again that would have to be looked at on a case-by-case basis. Also, on average, homes in Wichita sell at about 97% of the listing price, but this can very based on the condition of the property and/or the motivation of the seller. If you have properties you are interested in purchasing, visit my web site and send me the MLS #'s or property address, and I would be happy to assist you in determining the market value of a property, and more importantly, a projected market analysis of a property once repairs have been done. ... more
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Tue Jan 27, 2009
Bud and Sara Cortner answered:
Up until last November, Wichita was selling about 25% of the listings each month. Yes, it was still a sellers market although it did not feel like one. Listings have gone down. Builders are not building as many spec homes and people that would normally be selling their current homes and moving up have decided to wait. They figure they will have a hard time selling their home or they won't get the price they want. November of 2008 we statistically moved into a buyers market with a 6.5 months inventory of homes. It does appear December may have improved some over November and January is holding it's own and doing fairly well.

All said, Wichita is still a good market. The economy is well with some layoffs, but overall, 2009 should be a decent year. Probably on the sales level of 2004.
... more
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Wed Dec 3, 2008
Evin E. Alcindor answered:
Hi Amber. I did a quick search on the Rockhurst area and this is what I came up with:
There are currently three houses that are active in this area. Their prices are $150,000, 155,000, and 215,000 and have been on the market for 142, 110, and 78 days, respectively. The average beds are 4 with the average baths at 2 1/2. (they range from 2-6 bedrooms and 1-4 baths), and the square footage ranges from 1624 up to 4400.

I am happy to email you the statistics as well as the listing info if you're interested in seeing the type of houses in the area, just email me whenever you have a minute and I'll get it all to you: evin@weigand.com

Does this help?
~Evin
... more
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Thu Mar 27, 2008
Charlotte Patterson answered:
Many other states include the cost of the specials in the cost of the home. Kansas is an exception. There are some cases where the home is fifteen years or newer and the special assessments have been paid off. If you look at the statistics from the Wichita Area Assn of Realtors reports including the one generated by the WSU center for Real Estate, Wichita is still enjoying an improvement of home values around 5% annually. It has been my experience that the homes where prices have "stagnated" it is a result of having overpaid for the home in the first place. It's always important to have an experienced Realtor on your side as a designated buyers agent. Feel free to contact me if I can be of further assistance. ... more
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Thu Mar 27, 2008
Randy Ambrose answered:
Dave,
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 ... more
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Fri Mar 21, 2008
Lerback22 answered:
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!! ... more
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