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Market Conditions in Wichita : Real Estate Advice

  • All211
  • Local Info10
  • Home Buying84
  • Home Selling14
  • Market Conditions13

Activity 12
Sat Jun 9, 2012
Terri Vellios answered:
What does your agent say?

Your agent should be able to give you some advice on how to structure an offer.
0 votes 7 answers Share Flag
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
0 votes 1 answer Share Flag
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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Tue May 21, 2013
Kim Smith-Martin answered:
picking up very well, a buyer's market for sure !
0 votes 3 answers Share Flag
Fri May 10, 2013
Patti MacPherson answered:
We are very lucky in Wichita in that we have a very affordable housing market....you can get more house for your money in Wichita than in most markets in the country
0 votes 3 answers Share Flag
Fri May 10, 2013
Christopher Lefebvre answered:
Zillow has some information available on price per square foot basis. Here is a link. If you contact a local real estate agent with access to the MLS they could run a report for you on the specific types of properties you are interested in. ... more
0 votes 2 answers Share Flag
Thu Feb 25, 2010
Lesley Hodge answered:
I haven't seen any decline in the Wichita market. Our market sure didn't see the appreciation that some of the larger cities saw, but we haven't seen the DEpreciation that they are seeing now. As long as the house is maintained, I am still seeing home values rising. College Hill is still a desirable location, interest rates are still low, tax credits for first time buyers or move up buyers are still in effect through the end of April and we just keep plugging along! If you would like for me to do a free market analysis on a specific property, I'd be happy to.

Lesley Hodge
Realty Executives of Wichita
316-655-4069
Lesley@LesleyHodge.com
... more
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Wed Feb 23, 2011
April Crowder answered:
Are you building in a subdivision and do you have a contingency clause that says the builder can sell your home to someone else if your home doesn't sell by the time the home is complete? I do not recommend building another home until you have sold your current home for a several reasons: 1) You do not know how long it will take your current home to sell, 2) You do not know much your current home will sell for, 3) If your current home does not sell in time, you will end up selling your home for much less than you wanted or you could lose the new home 4) You could end up with two mortgage payments. Also if you are building in a subdivision, you will pay full price when you build a house. If you wait until your current home sells and you can find some new homes ready to go then you may be able to negotiate on the sales price. Even if you want to build your own home, it is better to sell yours first even if you have to move to temporary housing for a while. ... more
0 votes 5 answers Share Flag
Mon Mar 9, 2009
Charlotte Patterson answered:
Maite, I believe Trulia relies on the agents/sellers updating their own listings as "sold". Kansas is a "do not disclose" state, so most agents should know not to list that information. Any sites that show sold prices will also state somewhere that it's and "approximation" of the information. A Realtor and/or appraiser would be where you should go for accurate info. Best wishes. Contact me directly if I can be of further assistance. CharlottePatterson@cox.net 316-409-0398 ... more
0 votes 6 answers Share Flag
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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