There are currently 118 foreclosure listings and properties in Olathe. They have the median listed price of $151,184. Olathe is the county seat of Johnson County, and is located in Kansas State of the US. In 2008, the US Census Bureau has ranked Olathe as the 24th fastest-growing US city. The CNN/Money and Money magazine has in 2008 graded Olathe as the 11th in its list of the “100 Best Cities to Live in the US”.
Olathe is a suburb of Kansas City, Missouri, and is a part of the Kansas City Metropolitan Area. Olathe is hedged in by the cities of Gardner to the south, Overland Park by its east, and Lenexa along its north. The suburbs of Olathe include the cities and places of Leawood, Shawnee, Roeland Park, Mission, Merriam, Bonner Springs, Fairway, Spring Hill, De Soto, Edgerton, Westwood, Mission Hills, Lake Quivira, Mission Woods, Clare, Bonita, Aubry, Stanley, Ocheltree, Morse and Stilwell.
Foreclosure Auctions: Godsend for Buyers
Why do prospective homebuyers flock to the Olathe foreclosure auctions? The reasons are fairly obvious. Prospective homebuyers are especially enthused at the prospect of acquiring majestic homes in posh areas at about half their market prices. The auctioneer can afford to sell the seized homes at such anomalous prices because its primary aim is to recover the outstanding loan amount, and not to make a profit on the sale. Besides, the auction procedures are simple, transparent and fair. The government bodies, like VA and HUD, and banks inspire trust. The bidder knows that he is not likely to be tricked into a fraud, which risk underlines open market transactions. Moreover, the properties possess safe titles and are free from any lien. Further, the government foreclosures spell a lucrative investment opportunity to professional flippers because of the steep discounts at which the properties are normally sold at.
To top the usual gains of purchasing at the foreclosure auctions, mortgage companies in Olathe facilitate the entry of new investors at the real estate listings auctions. Home loans of varied durations, loan amounts, and modes of interest are easy to come by. Even individuals with established imperfect credit histories are advanced loans. Hence, even the necessity of making the immediate down payment in cash doesn’t unnerve home-hunters any more. Come 2009, the mortgage sector looks set to be even more regularized, with the proposed setting up of the Nationwide Mortgage Licensing System and Registry.
Property Auctions: Select Agent Carefully
The Olathe real estate market is dominated by the ilk of Manuel Burbin, Debra Saulmon, Carl Rondinelli and Char Mac Callum. They are leading property brokers in Olathe, among hundreds of others. You could choose any agent, after checking her accreditation with the state’s real estate department, being guided by the following key criteria. You ought to hire an experienced agent who works fulltime, has especial familiarity with the local terrain, is attentive to your requirements, remains available around-the-clock, and accompanies you on crucial meetings or signings. Your choice of an agent will perhaps influence the degree to which you can reap a bonanza at the property auctions.