Market Update 12/27/2016 by Roger Zerener
We hope you all had a good Christmas and are looking forward to a healthy and prosperous 2017. I remember elders saying, “As you get older the faster the years go by”. Speaking now as one of those elders myself – darn if they weren’t right!
At the current time we are seeing demand for properly priced homes remaining strong. U.S. Existing Home Sales are now on their fastest pace since 2007. This appears primarily due to interest rates that are considered favorable, and the market has found a whole new set of millennial buyers, as well as us boomers downsizing. Buyers are finding once again that a long-term home investment is generally the best investment they can make.
The old saying in real estate has traditionally been “location-location-location” and that continues to have validity. However the critical three factors that influence the number of showings and eventual sales of homes are:
PRICE – CONDITION – MARKETING
We’ve got the marketing handled for you with local, regional and national marketing websites and the South Central Kansas Multiple Listing Service. We can advise you on a strong but reasonable listing price for your home. We can also make suggestions on “financially feasible” improvements to give your home more market appeal.
After several months of “gloom and doom” resulting from disappointing crop commodity and oil/gas prices, we are sensing that land buyers are beginning to return to the market. We are finding that in less than desirable areas with below average quality land – prices may have dropped considerably from the highs several years ago. But good quality, well located land has tended to “hold its own” in terms of price.
We are currently working with very financially capable buyers who are willing to consider purchasing land from an owner/operator with a potential “lease-back”. Give John Hillman a call for details!