Home Sellers Are Making Bank in Today’s Market

Home sellers are making bank in today’s market, realizing an average profit of 24.1 percent, or $39,900, in 2016, according to a recent study. Sellers on the West Coast—where home prices have skyrocketed since the recession—saw higher returns. Sellers in Oakland, California took home the highest profits at 78 percent, or $235,000. While our local market here in Wichita, Ks isn’t doing too shabby either; however, duration is the key. The average seller turning a $39,900 profit, the analysis shows, held on to their home for seven years and five months. The average seller in Oakland hung on to their home for seven years and three months. The top 10 markets:      City Median Years Owned Dollar Gain on Sale Annual Dollar Gain on Sale Percent Gain on Sale Oakland, CA 7 years, 3 months $235,000 $33,913 78.0% Portland, OR 9 years, 1 month $145,026 $16,714 64.7% San Jose, CA 9 years, 8 months $271,150 $30,562 56.5% Denver, CO 7 years, 7 months $119,500 $18,162 56.0% Los Angeles, CA 9 years, 8 months $200,000 $23,200 53.7% Sacramento, CA 6 years, 11 months $82,500 $12,000 53.6% Seattle, WA 9 years, 2 months $185,000 $20,840 53.1% Philadelphia, PA 7 years, 11 months $40,225 $4,194 51.7% New Orleans, LA 8 years, 7 months $81,000 $10,475 51.5% Boston, MA 7 years, 10 months $182,500 $25,036 49.6% “The housing market can change a lot in 10 years, and you see that reflected in this top 10 list,” says economist Dr. Svenja Gudell. “Buying a home is one of the biggest financial decisions people will make in their lifetime, and it really paid off for sellers in these cities. Every city on this list has been growing extremely fast over the past decade, with the majority passing peak home value hit during the housing bubble.” The ability to amass wealth over the long term makes real estate the No. 1 investment for most Americans, despite proven results from stocks and other vehicles. “It’s extremely difficult to time the market, but if you’re a longtime homeowner in one of these cities, you could potentially see a great return on your investment,” Gudell says.

QUESTIONS? VISIT http://jimmydavis.kwrealty.com/

IMPROVING WICHITA REAL ESTATE PULSE 10/4/17

It's Wednesday October 4th 2017 and I am here to deliver what's going on in, and around, the Wichita Metro - Real Estate Related.  Most real estate news is generally a few months behind & I want to provide my fellow Wichitans with up to date real estate news.

Well, it's official...the Seller's Market that Wichita has been experiencing over the last year has finally come to an end.  Just 6 months ago properties on the market were getting multiple offers and selling within days of being listed.  Fast forward to October...homes are still selling...just not as fast, or for as much. Seller's need to be more realistic on pricing their homes and keeping them in line with current comparable sales. However, it is October which typically tends to be a slower month for real estate.

Inventory in Wichita is still low, but our Real Estate Team feels a correction in the market happening right now.  It's still a good time to sell, but an even a BETTER TIME TO BUY!  Inventory is increasing but there aren't as many buyer's (competition) as there was 6 months ago.  Rates continue to be at an all time low, but more importantly there is 1st-Time Home Buyer Cash Assistance (from multiple local lenders) available right now, but only for a limited time.  So when people ask me when is the best time to buy...it could very easily be RIGHT NOW!

Most people in Wichita that have the dream of financial security through home ownership have already bought a home, but there are still a lot out there that probably think they can't buy.  Either due to their credit score or the money it costs to buy a home.  However right now with our local lender's loosening up credit standards, and helping with money down-cash-assistance could be the perfect storm to grab your slice of the real estate pie😋

Welcome

VIEW HOMES FOR SALE

Improving Wichita's Real Estate Team has experienced Buyer's Agents eagerly waiting for your call right now to answer your questions about buying a home in the Greater Wichita Area.

If you have questions about specific areas of Wichita, what 1st-Time Home Buyer Programs are available, or which school district is the best fit for you, or even if you have your eye on a particular property already and would like us to look up information on that property...just ask us!  Just fill out the contact form on the right or call 316-361-6086.

The only bad question is the question that goes unasked!

VIEW CURRENT HOMES FOR SALE

What Is The Best Source For Finding A Rental Property?

So you've finally decided you are going to make that move and invest in real estate.

Great!

Now where do you start?

There are many options: You can look on Craigslist.  You can look on other websites that have people selling their homes by themselves.  There are a number of local auction companies that are auctioning off homes daily.  There are mortgage foreclosure auctions.  There are short sales.  There are REO (real estate owned) properties.  There are county tax auctions.  And then there is your more traditional avenue of just using a good ol' real estate agent...so which way is the best way to find a good deal on a rental property? 

They all have their pluses and minuses.  And every investor is different and every investor's situation is different. 

If you really want to get into this business of building residual income...you have to be up to date on every option available and then some!    You need an advantage...you need a Pro-Active, Trusted Real Estate Adviser like (Jimmy Davis) that is up to date and that can help you.

But don't let that get in the way of starting your journey to financial freedom.  You have to start somewhere, so just start, and keep in mind that the Pyramids in Egypt that are still standing today were started with just one stone...actually just one idea, and the action to execute that idea.  So quit sitting there and take action!  Right Now!  Fill out the form on the top right and begin the Journey.

Building Wealth

Are you like me and absolutely hate being an employee and making someone else richer?  Well I have a solution, but I have to warn you that this is not an overnight solution...it will take some time. 

It seems like these days you already have to be rich to buy anything that will make you rich...in other words, you have to have a lot of money to make any money.  

Or do you feel like if you start your own business that you would be better off just working for someone else because you can work less and make more money with way less overhead?

I know the feeling...

The first thing you have to do is a financial checkup!  What's this...take a look at your expenses, your bills, everything that you spend your money on.  Most of us are spending way too much and not saving anything at all...this is your first problem...no matter how much money you make save as much as you can!  I know I know you need that money to make it thru the day with food, bills, gas, etc,....This is where the financial checkup comes in...you have to find a way to lower your bills to save that money.  If you are never able to save any money then you will never build up enough money to set yourself free.  No matter how long it takes. It could be weeks, months, even years, but start doing it today!

Ok...now you have some money saved up, right?  Here's my solution:  Invest in rental properties!!!  From my experience it is the best way to build wealth!

For a whole bunch of reasons:

1. You get paid every single month your property is being rented!
2. Someone else is paying the property (loan) off for you!
3. Real Estate tends to appreciate in value!
4. You're the boss!
5. You can take a loan out and get cash out of your rental property...now you have more money to make more money! Buy more rental properties with that money!
6. You can have rental properties and keep your day job until the rental properties can pay for your current lifestyle!
7. You can hire a property manager to handle all the b.s. that goes with having a rental property for a small fee, and still make money!  Don't do it all yourself!
8. Our population is not declining so people will always need a house to live in!
9. Best of all it's passive income (which means you still get paid, and you don't have to do any work!)
10. Tax benefits...
11. You can hand down your rental properties to your kids, and then they won't have to work either!

Those are just a few of the reasons that I can think of off the top of my head, but there are many more...

I haven't reached financial freedom just yet, but I can see the light at the end of the tunnel.  I will keep blogging about building wealth and hopefully I will be able to help others in my experiences!

Sell Us Your House

We buy houses in the Wichita, Kansas area.  No matter what condition the house is in. We will buy your house As-Is, so don't worry if it needs repairs...or not.

My name is Jimmy Davis. My wife, Alisha and I buy houses throughout the Wichita Kansas metro area regardless of condition, price, or neighborhood. You won't have to worry about the time and money involved with cleaning, painting, and fixing your house just to put it on the market...hoping you will get an offer.                    

We will buy your house As-Is.

We are not house flippers.  Our goal is to buy your home fix it up and restore it to it's former glory.  Then we will rent it out providing a safe & quality home to a deserving family while Improving Communities, Families, and lives 1 Home at a time.

If a cash offer will not work, perhaps a traditional retail sale will.  My wife and I are Licensed Real Estate Agents, and work together as a Real Estate Team if you are in need of a Realtor in the Wichita Kansas area.  It's like getting 2 Agents for the price of 1.

Fill out the contact form on the right side of the page and include the address of the house along with any other questions you may have.  If you would rather talk to me in person instead of filling out a contact form please call me personally at 316-361-6086.