Housing and Economic Recovery Act of 2008

H.R. 3221, the “Housing and Economic Recovery Act of 2008,” passed the House on July 23, 2008, by a vote of 272-152. On Saturday, July 26, 2008, the Senate passed the bill by a vote of 72-13. The President signed the bill on July 30, 2008. The bill includes the following provisions:

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Source: National Association of REALTOR®

Is the Housing Crisis REALLY a "CRISIS"?

Housing Crisis/Business Nation Commentary

Is the housing crisis really a "crisis"? In his commentary, Dennis Kneale crunches the numbers.

Watch Video

Source: CNBC

Wichita Has Cheapest Nationwide Gas Prices

Study shows Wichita has the cheapeast nationwide gas prices.

With gas prices hovering around $3.60 a gallon, Wichita had the cheapest gas prices nationwide, according to a national gas price survey. Since then, prices at some gas stations in this area have dipped below $3.50 a gallon.

Click here to read full story.

Source: Wichita Business Journal, by Josh Heck, Monday, July 28

REI Networking Group

Reminder about our July REI Networking meeting:

When: Tuesday, July 29th
Time: 7:00 pm
Where: Eaton Place - 517 E. Douglas
Speaker: Shawn Kinkaid, Top Mortgage

Shawn will discuss residential and commercial investor loan programs that are currently available. He will also answer all your mortgage questions.

Hope you can join us Tuesday.

RSVP to wwilkinson@weigand.com

Investor Report: When Partnerships Fail

We all know that down markets can offer great opportunities for investors looking to pick up properties at rock-bottom prices.

But they can also be troublesome for investors who bring in friends and relatives to buy properties through partnerships without thinking through all the potential issues.

Read the full article here.

Source: Realty Times, by Kenneth R. Harney, July 18, 2008

MLS Statistics - May 2008

WICHITA AREA ASSOCIATION OF REALTORS®, INC.
MLS STATISTICS
Report For April 2008 as of 5/15/08

Chick Here

Source: WAAR

Wichita Median Price Up, Days on Market Down

May was not a good month for home sales in Wichita.

But tucked inside the sales declines are some figures that should boost the morale of buyers and sellers.

Read the full story here.

Source: Wichita Eagle, Business Today, by Bill Wilson, July 12

Where Home Prices are Headed Next

Want to know what your home will be worth this time next year? Check out these home price forecasts for the 100 largest U.S. markets, from Money Magazine.

Wichita, KS is ranked #11 in cities expected to post price gains in the coming year.

Click Here to read full article.

Source: CNNMoney.com, May 8, 2008

April 2008 Trend Report

I just received a report from First American Title showing the trend for the last 12 months. Please click here to view report.

Call me today if you are looking to buy, sell or invest in real estate.
(316) 644-7475

Source: First American Title

5 Things to do Before Putting Your Home on the Market

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

Source: realtor.org

Wichita Economy Stable Through April

The local economy remained mostly stable through April, although slow home sales remained a drag, according to the Wichita State University Current Conditions Index.

The index rose declined 0.3 percent from March to April but was 1.8 percent above April 2007.

"Overall, the index continues to reflect strength in the Wichita economy," said the WSU Center for Economic Development and Business Research in a Tuesday release.

Outbound airline travel at Mid-Continent Airport grew by 11.3 percent during the past year, while home sales dropped by 5.6 percent. Hotel occupancy also decreased, by 0.7 percent.

The WSU Current Conditions Index tracks six economic indicators -- monthly home sales, hotel occupancy, outbound airline travel, outbound airfreight, employment and civilian unemployment.

Source: Wichita Business Journal, by Chris Moon, July 2, 2008

Getting Started As a Real Estate Investor

Whether you are new to real estate investing, or you have just reached a "plateau" and need some ideas, these reminders will help "jump-start" your real estate investing career and get you back on track.

To read the full article, click here

Source: CRE Online, by William Bronchick, JD

Please join our local real estate investment club on Tuesday, July 29. We meet at the Eaton Place, 517 W. Douglas, at 7:00 pm.

Fearing Foreclosure? Consider a Short Sale

If you are one of the many homeowners who have fallen behind on your mortgage payments and you don't see any way to avoid foreclosure, a short sale may offer you the least painful way to resolve the situation.

Click here to read the full story.

Source: Bobbi Dempsey, Bankrate.com

Call me today to see how I can help you with a short sale.