 | Todd Woodburn is a 3rd generation REALTOR in his family. He is very active in all aspects of real estate in Kansas. Todd is knowledgeable and successful in residential, investment, farm and ranch, commercial and 1031 exchange properties.
Todd has been selling real estate in Kansas for 10 years and literally sells thru out the state of Kansas.
He enjoys giving back to his community and his industry. Todd serves on the board of directors for both the Wichita Area Association of REALTORS@ and the Kansas Association of REALTORS@ . He also serves on many other committees, a couple of his favorite committees include Professional Standards for the state of Kansas and Governmental Affairs.
Todd also enjoys teaching real estate and technology classes.
You may reach Todd at: toddhomeseller
@cox.net or anytime at 316-312-0400. |
Real Estate
2006-10-01 14:35:00
Wichita housing market performance
QUESTION: With the national market slowing down, how is our market performing?
ANSWER: Our local market is doing well. Interest rates are at the lowest point this year. At the time of this writing interest rates are at 6.25% on a 30 year fixed mortgage. However, the inventory is beginning to increase at this time and it appears that buyers are taking time to view more properties.
Economic indicators look good for our projections thru the end of 2007. Manufacturing growth shows orders being placed with our major and small employers to continue the current growth cycle for another 2 to 3 years. With employment being strong in these areas it will reflect in continued growth and revenues for the services industry also. Migration of workers from outside the Wichita and surrounding areas is projected to increase to fill the job needs for these employers. This will bring additional families to our area during this continued growth cycle.
As many parts of the nation see depreciation settling in, after record breaking appreciation, Wichita and surrounding communities have seen steady growth. Appreciation is projected to be at an average of 5.2% appreciation by years end.
Slowing to a projected 3.9% appreciation for the end of 2007 the good news is it is still appreciation. It appears as though 2007 may be more of a buyers market than the sellers market we have experienced in the last couple of years. Thank you to South Central Kansas MLS, Wichita Area Association of Realtors, Kansas Association of Realtors, WSU Center for Real Estate, Dr. Stan Longhofer- Director , Center for Real Estate WSU, and the Sedgwick County Appraiser's office for information, projections, discussions and data.
