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The Dangers of Working from Home - Captain Jamie Strikes Again!!

11-16-09
Sheree Wilkerson
Sheree Wilkerson: Real Estate Agent in Wichita, KS
  • view my blog
  • Office: (316) 461-0575
  • Secondary: (316) 927-2222
It's time for another adventure from Captain Jamie!!

It's been a while since we've heard from our mischievous toddler and that could be due to his growth from Daring Destructo-child to Finicky Four-year-old Finagler. However, with the introduction of his new sidekick, the Amazing Amelia, Captain Jamie has had a relapse.

Now I'm not in the habit of working from home with my children, but you do what you have to and with them out of daycare and my husband off on a remodel project, surely I could manage a few phone calls, emails, and such with my sweet children around. But alas, it was not to be. I had just returned from accepting a referral (thanks Roz!) from the quiet of our den when I heard the laughter. Giggling playfulness with no hint of the usual fighting and sibling rivalry. "Awwwww" I thought to myself as I rounded the corner. And stopped.

Captain Jamie had struck again!

Jamie Wilkerson strikes again!



After a moment of shock wore off, we had a shredded paper snowball fight and everyone had a blast. Note to self, next time we empty the shredder, it should go STRAIGHT to the outside trash with no pitstops! In the meantime, send a vacuum with that next referral, I'm going to need it!

~Sheree


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October 2009 Wichita, KS Market Report

11-11-09
Sheree Wilkerson
Sheree Wilkerson: Real Estate Agent in Wichita, KS
  • view my blog
  • Office: (316) 461-0575
  • Secondary: (316) 927-2222

October 2009 - Wichita, KS Market Report

The Ocober WAAR (Wichita Area Association of Realtors) statistical report is out and those who have been watching a little too much TV news might be surprised. The Wichita market area is in a SELLER's Market with only 4.5 months of existing home inventory. 6 is considered a balance market, and more than 6 months is a Buyer's Market. Totally different from what you hear on tv, isn't it?


I agree with WAAR - it's a Seller's Market here... IN SOME PRICE RANGES.


Just like last months' report, you'll notice in the breakdown below that over 75% of all area sales were in the price range of $159,999 and under. Less than a quarter of all sales were over that! I would definitely say that the Under $160k homes are in a Seller's Market with less inventory, more sales, more competition among buyers. And yet again, as last month, the price range with the most sells is that coveted $120,000 - $139,999 range. That's our market's Sweet Spot!


October 2009 Wichita KS Real Estate Market

However, I'd say with the very low number of sales above that, the over $160,000 market is still a Buyer's Market, with very long days-on-market and tons of inventory.


So if you're a buyer looking in the $160,000 and under range, better turn that tv off - it's a fight out there to get what you want and there's not going to be any houses in move-in condition priced 50% of value. If you're selling, you should be able to line up buyers as long as you've got the big 4 going for you (Location, Condition, Price, and Marketing!).

If you're wanting to buy over the $160,000 mark, the ball's in your court and there's plenty of choices. Selling? Make sure you're home is the best of the best for the price, easy to show, and ready to go!

For more information about the market report and how it relates to your situation, drop me a line!

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NOW, the Tax Credit for First Time AND Move-Up Buyers has been signed! We have till April 30th folks!

11-06-09
Sheree Wilkerson
Sheree Wilkerson: Real Estate Agent in Wichita, KS
  • view my blog
  • Office: (316) 461-0575
  • Secondary: (316) 927-2222
NOW, there is an expanded Tax Credit for Homebuyers!

I'm sure you've been reading articles here and there about the proposed Tax Credit Expansion. Maybe you've wondered why YOUR Realtor(R) hasn't posted anything! Well here it is! I prefer to wait until a proposed bill actually gets signed before handing out information so that we're giving out good information and not just speculation!
It became effective when the President signed it, so here's a breakdown on the difference between the OLD tax credit and this NEW version!

Old Credit - must close by Dec 1, 2009 New Credit - Must be under contract by 4/30/2010, close by 7/1/2010
First-time buyers receive 10% of the purchase value, UP TO $8,000 This stays the same
Buyers who have owned a home within last 3 years cannot claim credit. Buyers who have owned a home for 5 consecutive years of the last 8 years are eligible for a $6500 credit.
Income limit for singles: $75,000
Income limit for marrieds: $125,000
$20,000 additional phase-out		 Income limit for singles: $125,000
Income limit for marrieds: $225,000
$20,000 additional phase-out
No limit on purchase price $800,000 limit on purchase price
No documentation needed to file for credit Must provide documentation of actual purchase on the tax return

There you go!

Now I've already had questions from current homeowners who had sold a home and moved up in 2009. Unfortunately they did not make this retro-active, so it is effective as of the day they signed this into law. However, for those of you currently listed for sale, you now have a chance at a tax credit too! Plus this will help ensure the buyer pool keeps coming out looking instead of fading into the usual winter slowdown.

For buyers, you've got a breather and more time to find the right house without worrying about losing the credit. The loosened income restrictions will also help more qualify as first-time buyers and obtain the credit as well.

If you have any questions regarding the credit, drop me a line and we will do our best to answer! As always, since this involves your finances and taxes, of course we suggest that you check with your tax preparer for specific questions about how this will affect you at tax time!


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Maize, KS and Garden Plain, KS Offering Thousands of Incentives to Build or Buy a New Build home in their areas!

10-17-09
Sheree Wilkerson
Sheree Wilkerson: Real Estate Agent in Wichita, KS
  • view my blog
  • Office: (316) 461-0575
  • Secondary: (316) 927-2222
Maize and Garden Plain offering incentives to NEW home purchasers

As noted in my previous article about the September 2009 Housing Market, homes over the $159,999 mark areNew home in Maize, KS having a very difficult time selling. The only homes performing worse right now are NEW built homes over $159,999. There is so much inventory on the market that if you're looking in this range, you're going to have your choice of homes! While most note the value to be found in buying a resale, or "used", home - there's definitely the option to be a home's FIRST owner, maybe still have the chance to pick out your colors, flooring, appliances, or even to build from scratch.

In an effort to spur these home sales, 2 of our suburb city areas are offering some pretty nice incentives!

Garden Plain is located on Kellogg/US-54 between Goddard and Cheney, just about 15-20 minutes outside of town. It's nice and quiet, with a small-town feel, but close enough to hop into Goddard or on into Wichita for fun and excitement. They have 2 new home developments, yet have not had any new homes built this year. The city has partnered up with a local construction supply business to offer these credits/rebates towards the city's water/sewer bills:
"The credit is $3,000 for new houses between $100,000 and $150,000; $4,500 on houses between $150,000 and $200,000; and $6,000 on houses over $200,000."

Earlier this week, Maize also announced an incentive tied into the Parade of Homes to stimulate new home sales in their area. Maize is located North-West of Wichita, right up against the Wichita border. Just hop on K-96 and get off on Maize Rd, or go north of 37th/Maize Rd. It's grown right into the Wichita area, and is very near to great shopping at New Market Square and of course is most known here for its school system.

Their incentives are limited to contracts signed by December 1st and are as follows:

"The city has put in place credits ranging from $2,000 to $6,000 on city water and sewer bills, but developers and builders say they will match that, said Deputy City Administrator Rebecca Bouska.

In effect, she said, homebuyers could get up to $6,000 off a lot, up to $6,000 off a house and up to $6,000 off their utilities for a house valued at over $500,000."

To read the full article about the credits, you can read it here at the Wichita Eagle's website or pick up your local copy of today's paper!

If you're thinking of buying a new home in these areas, drop me a line or start your home search below!
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September 2009 Market Report for the Wichita, KS Area - Are we in a Seller's Market here? Really?

10-15-09
Sheree Wilkerson
Sheree Wilkerson: Real Estate Agent in Wichita, KS
  • view my blog
  • Office: (316) 461-0575
  • Secondary: (316) 927-2222

New WAAR report shows that our market has been a Seller's Market for a bit and although inventory has increased slightly, it's still leaning towards more of a Seller's Market. Totally different from what you hear on tv, isn't it?

I agree with WAAR - it's a Seller's Market here... IN SOME PRICE RANGES. September 2009 Wichita, KS Market Report

For instance, this chart was pulled from the marketing report and shows the breakdown of sales in price ranges for September.

You can see that out of 816 sales for the month, 584 or 72% of them were for homes under $159,999. That's the ones bracketed in Red for you. The ones in Green are what I call the "sweet spot" - 35% of ALL sales were between $100,000 and $159,999!

I'd say 100% that anything in the sweet spot is a Seller's Market, and pretty surely anything under $159,999.

However, I'd say with the very low number of sales above that, the over $160,000 market is still a Buyer's Market, with very long days-on-market and tons of inventory.


So if you're a buyer looking in the $160,000 and under range, better turn that tv off - it's a fight out there to get what you want. If you're selling, you should be able to line up buyers.

If you're wanting to buy over the $160,000 mark, the ball's in your court and there's plenty of choices. Selling? Make sure you're home is the best of the best for the price, easy to show, and ready to go!


For more information about the market report and how it relates to your situation, drop me a line!

8 Comments