Topeka foreclosure listings and properties have added zing to the local market here. The foreclosures remain on the rise, the listed prices continue to slide, and the properties on sale are more gorgeous than ever before. If you have wondered about the rationale for the listed price for a foreclosed home for sale, here’s it, in a nutshell. The listed price needn’t have any relation with the actual market value of a house. It just indicates the balance amount of loan money that the seller seeks to recover from its sale. Thus, the seller cannot accept a lower price if he intends to at least break even. The listed price may serve as an opening bid, and the intensity of competition among buyers may shoot it spiraling upwards.
Topeka’s literal meaning, in the local tribal languages Kansa and Ioway, is “a place in which to dig good wild potatoes”. It is the county seat and the most populous city of Shawnee County, besides being the capital of the US state of Kansas. The Topeka MSA includes the Shawnee, Jackson, Jefferson, Osage and Wabaunsee counties. Cities and other unincorporated places in the immediate neighborhood of Topeka include Silver Lake, Auburn, Rossville, Willard, Belmont, Berryton, Dover, Elmont, Grove, Highland Park, Mathews Park, Oakland, Pauline, Richland, Spencer, Tecumseh, Terra Heights, Valencia, Wakarusa and Watson.
Growing Specter of Government Foreclosures
Topeka’s government foreclosures have been on the upswing, in keeping with the trend all over the US. In Q2 or second quarter of 2008, the number of foreclosure filings has increased by 14 percent over the previous quarter and by 121 percent over the corresponding figure for Q2 of 2007. Perturbed at the plethora of government foreclosures occurring all across the nation, the government had introduced the Foreclosure Prevention Act of 2008. It is presently under consideration with the House Committee on Appropriations. The bill seeks to curb foreclosures through housing counseling activities. However, the silver lining to the dark cloud of foreclosures is that prospective homebuyers are enabled the purchase of their dream homes along with convenient mortgage finance at the property auctions.
Professional Help for Foreclosure Auctions
Topeka’s real estate sector is dominated by several property agents, and these include Becky Burghart, Laurence Tibbetts, Vivian L. Kane, Henry Mc Clure and George M. Hersh. It is the property brokers who serve as a meeting point for the sellers and buyers. A successful agent is familiar with the local terrain, has influential contacts, and is privy to all pertinent deals about latest homes to hit the property auctions. You ought to seek the professional services of an astute and expert agent if you aspire to get a good deal for yourself. Your agent can prove a vital ally in your search for a desirable home. He can employ his insights to suggest which homes would be appropriate for your needs. Your agent can also guide you in the mortgage loan that you take, as well as in deciding your maximum bid price at the real estate listings auctions. Suffice it to say, that it is your agent who will eventually determine whether you emerge a winner or a loser from the property auctions.