How to Determine the State of the Market for Buyers in Wichita Kansas
It depends on the location and the type of property. Some areas may be in high demand, while others seem almost isolated. Homes located in popular areas that are priced well have the competitive advantage and typically sell quickly.
What interests’ buyers? Great schools, nice neighborhoods, short work commutes, shopping options, access to transportation, etc. These properties are a hot commodity putting sellers in control of the market in these highly popular areas.
What about town homes and condos? These can be a different story – maybe it’s located just off the beaten path, or maybe it has some unique features…like a diamond in the ruff. While prices declined in some Wichita areas, the rental market has increased and appears to be bouncing back.
Investment homes are in demand. Foreign money has impacted the Wichita market in unusual ways. For those who are able to purchase a property with cash are investing in US real estate and buying at lower costs. In many cases, sellers list a property at taunting prices to see if they get any takers, but many investors walk away from these deals as they don’t add up or are shady at best.
Buyers are still dealing with major financial obstacle. Banks require a lot of money down, change their terms at the last minute, and are extremely strict when it comes to financing a house. There are even cases where loans stop or get derailed just prior to closing, even for pre-approved buyers.
The markets continue to be divided – actions in the beginning, closure at the end, and the biggest hurdles in the middle.
Still Confused? We Can Help.
The markets are moving fast in many directions, and there is a lot of protest that still remains in the US economy.
We invest in Wichita for to reasons: we believe in the community and we believe in the people here.
If you are looking to sell a property near Wichita, we can help you. We purchase properties just like yours from people who need to sell fast.