Wichita foreclosed homes and houses for sale naturally prove irresistible to prospective homebuyers, because they are mostly luxurious mansions frequently at barely half their usual market prices. The houses are mostly offered for sale by VA, HUD and banks. The factors of easy mortgage finance, simple procedures at the property auctions, and clear titles render the homes eminently attractive for purchase.
Wichita, located on the river Arkansas, is the county seat of Sedgwick County and the most populous city in the US state of Kansas. Wichita was known as the “World’s Air Capital”; with the early aircraft corporations Stearman, Mooney, Cessna & Beech all having been founded in the city of Wichita in the late 1920s & early 1930s. Modern-day Wichita is also home to Learjet and Spirit AeroSystems.
Wichita is presently quite a cultural, educational and amusement center. The Wichita State University coexists with a motley band of nightclubs, shopping centers, restaurants, museums & parks in Wichita. In 2006, Money magazine and CNN/Money had ranked Wichita ninth on their lists of the ten Best US Big Cities. In the year 2008, MSN property has ranked Wichita first on its list of Best Affordable Cities to Live in. The following places may be counted as among the suburbs of Wichita: Derby, Haysville, Mulvane, Valley Center, Goddard, Clearwater, Maize, Cheney, Sedgwick, Colwich, Mount Hope, Garden Plain, Andale, Bentley and Viola.
Government Foreclosures: Losses & Opportunities
Wichita foreclosed homes result from a home owner’s defaulting on her mortgage payment. After a due process of intimation, the lender is justified seizing the mortgaged property of the truant owner, selling it through an auction, and recovering the remaining amount of loan money. To allow the defaulting owners ample means of avoiding foreclosures, moves are afoot whereby at least a period of 90 days must elapse between a first notice of default issued by the lender and the eventual seizure of asset. Since the lending banks or government bodies as VA and HUD are not into real estate per se, their intention is not to get the best possible price on the foreclosed properties. This explains why the government foreclosures are listed at such discounts over the market prices. In any case, the government foreclosures offer prospective homebuyers with a rare chance to buy magnificent homes at practically throw-away prices. No wonder that buyers are leaping in to utilize this opportunity in their own longterm financial interests.
Vital Ally at Property Auctions
The property auctions in Wichita find Charley Wilson, Thomas W. Shannon, Penny Johnson, John Mc Kenzie and Larry A. Schuessler to be familiar faces. This is because they are reputed real estate agents working in Wichita. The agent plays a key role in the fruition of a home sale by bringing like-minded sellers and buyers together. If you a first-timer at the foreclosure auctions, then you ought to definitely hire the professional services of an expert agent. Choose your agent with the utmost care. A competent agent can prove a helpful ally. Indeed, she can even determine whether you make a moneyspinning deal at the foreclosure auctions, or emerge a loser.