Properties For Sale

12305 W. Jayson (West Wichita)
Price Reduced $10,000 today. Wonderful waterfront property! Huge master suite with walk in closet and relaxing bath with a fireplace.

5010 S. Osage (SW Wichita)
REO New Build in Sycamore Pond Addition. Will be completed in the next couple of weeks. Bring all offers, bank willing to look at all offers.

5014 S. Osage (SW Wichita)
Another REO New Build in Sycamore Pond Addition. Contractor has almost completed all the final touches. Exterior to be painted, weather permitting.

602 E. 7th (El Dorado)
New build in city’s 10 year tax abatement area. Where else can you buy a new home with no specials and low, low general taxes. Buy now and pick out all your colors, flooring, and fixtures.

604 E. 7th (El Dorado)
Next door to 602 with all the same benefits and selections. This home has 1.5 baths.

310 N. Ridgewood (NE Wichita, Crown Heights)
Great location just needs some updating and TLC but price accordingly.
FHA 203K Loan may qualify for this property.

925 Country Acres (NW Wichita)
Seller has started the remodel process by plumbing for a 2nd bath; buyer will need to finish it out. Great NW location in Country Acres.
FHA 203K Loan

643 S. Belmont (NE Wichita, College Hill)
Good investment property of first time homebuyers looking to do some work.
Good property for FHA 203K Loan and First Time Homebuyer Tax Credit of $8000.

2722 E. Gentry (NE Wichita)
REO in quiet neighborhood with in walking distance to schools. New 2 car garage with its own electrical panel. Big fenced in back yard with deck.

714 S. Walnut (SW Wichita)
REO that would make a perfect rental. The bank has put new carpet through out home and painted the interior. All you need is your For Rent sign to start making money.

00 S. Bordeulac (NE Wichita, Bel Riv Addition)
4 lots left in the quiet neighborhood. Great opportunity to custom build your dream home. Close to Andover and the new YMCA. Subdivision has a lake and a jogging path.

First Time Home Buyers Tax Credit - NEW

Homebuyer Tax Credit – The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

View tax-credit features chart (PDF)

Review details of the 10 provisions

Source: realtor.org

Fannie Mae Increases Investor Loan Limits From 4 to 10 Properties

Fannie Mae has increased the total number of loans a real estate investor may have in their system to 10. It’d been reduced to 4, which had produced what many, included yours truly had predicted. That is, for government at least, unintended negative consequences.


If you’d like to read the announcement in full, along with the guidelines, you can read it here.

Source: efanniemae.com

Obama Unveils Plan to Stem Foreclosures

President Barack Obama rolled out a bold $75 billion, three-part plan Wednesday to halt the soaring rate of mortgage foreclosures nationwide, one that seeks to encourage refinancing of homes now worth less than their mortgages and provides incentives for lenders to lower the debt load on struggling homeowners.

The Homeowner Stability Initiative, which Obama unveiled in Phoenix, seeks to address one of the triggers of the global financial crisis: the 2.3 million U.S. foreclosures last year that are protracting the housing crisis and helping to drive down home prices across the nation.

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Source: RISMEDIA, February 19, 2009, by Kevin G. Hall

How Stimulus Can Help Your Wallet

Now it's time to make a deal on economic stimulus:
Key members of the Senate and House are in talks to craft a final bill. They hope to reach an agreement ASAP.

Whatever they come up with, there's a good chance it will closely resemble the version passed Tuesday by the Senate.

Find Out How This Will Affect You

Source: By Jeanne Sahadi, CNNMoney.com senior writer, February 11, 2009:

Cost-Effective Tips to Sell a Home

In today’s real estate market, sellers need additional advice on how to cost-effectively prepare their homes in order to sell quickly. With an abundance of homes on the market, waiting several months to sell a home could leave many recession-plagued sellers in financial distress.

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Source: Commentary by Dan Steward, RISMEDIA, February 5, 2009