This writing will take us into some of the destructive effects of foreclosure in Wichita for those selling their homes.
Local Wichita Home Buyers Have So Many Choices For Homes But Fewer Choices For Financing
There are waves of houses on the market, that being connected to the economic disturbance that happened before (and still going on in some areas), other home models are not being bought as speedily anymore compared to 5 years ago… while the “sweet spot” type of house (3 bedroom 2 bath in the middle to lower-middle price range) are selling at a good clip.
One of the reasons is the change in lending guidelines after the housing crumbles so fewer and fewer buyers are looking for some homes… there are still stashes of foreclosed houses in Wichita that just goes on dripping into the market from banks… and those who want to buy became panicky compared to buyers in years past since a lot of them have come to understand that you can not buy a house and bank anymore on the fact that it will appreciate a 3%+ a year in value.
If you want to sell in this market, you may be disheartened and puzzled on how you can quickly sell your Wichita house, right?
When you feel that you have invested a lot of money to enhance your house (or if you have repairs but don’t have the money to do those repairs), but are still having a difficult time selling your Wichita house, you aren’t the only one. A buyer’s market creates a challenging time for sellers to swallow. Nobody wants to see their house picked apart, unapproved, or unappreciated, but that is precisely what most sellers are facing.
Worse yet, because of the disastrous results of foreclosure in Wichita, most sellers in the place who stick to the price they want are gaining little action and zero offers at all… often abandoning the house on the market for months on end.
How Foreclosures Have Driven Local Housing Prices Down
After the housing market collapsed and the foreclosures start to happen, it flooded the real estate market in Wichita. That means that there are so many available on the market. When that occurs, that pushed the value of everyone’s home devalued because there are lots of choices (at lower prices) for buyers everywhere.
If there are more inventories than people who want to buy, it diminishes the price of the homes for sale.
The jury is still out if we are able to get out of this foreclosure hole or not. There are lots of foreclosure homes in the Wichita area and the banks are still keeping so many area houses in their own stocks that aren’t even for sale yet.
But, there are a few things you can do in this market to achieve your goals of selling your home.
Selling Your Home In A High Foreclosure Market
If you’re wanting (or needing) to sell your home you’ve got few options you should check out.
- If you don’t need to sell your home right away and can delay the market out… Get An Outstanding Real Estate Agent On Your Side: If you’re not looking to sell your home right away and you can compensate the real estate agent commissions… it may be best for you to just wait for the market out and allow some time for that exact buyer to come to you and pay the price you want. The market is getting better and in case you can sell your home next year rather than now… it may equate to a few additional incomes in your wallet on the sale at a better value. An outstanding real estate agent can help you list your home and sell it for you. If a god local agent is not available, just get in touch with us and we will be able to introduce you to some excellent real estate agents we know in town who have a track record of selling homes quickly. Email us over here for a Wichita area real estate agent referral.
- If you DO need to sell your home as soon as possible… keep an eye for quick sale options like selling your home to us: Selling your home right away in a market such as this can be hard if you choose the traditional real estate agent way… unless you lessen the price of your house drastically. Then above that discount, you’ll be giving the real estate agent commissions… which means more money out of your wallet in the end. Another option you should check out is selling your home to a real estate investment firm like Sell Now Homes Wichita. We buy Wichita houses and can provide you a cash offer within 24 hours for a fair price. We do not want to put up your house… we’re actually looking to purchase your home from you… we’ll pay for the cost of any repair after you sell us the house, then we either use it as a rental property or we’ll turn around and put some of our time, funds, and expertise into selling the home to a new homeowner. It can be a win-win-win scenario. If you’re after the full-retail value of your home, we can’t pay that. We do need a discount so we can get a profit on our end, and you won’t ever pay us any fees or commissions.
Reach Out To Us To Sell Your Wichita Kansas House Fast… Even In A Market Like Today’s
If you have any inquiries about our local Wichita house buying service just call or message us anytime.
You can reach us at (316) 413-8314 or reach out to us over on our Contact Page.
Or, if you want to get a fair cash offer on your home today, just click the link below to go to our “Fast Offer” form… then fill out some basic info on your house and we’ll be on our way!