Posts made in May 2016

Indy Named TOP Market for First Time Home Buyers

Zillow, the mega online real estate data website, has named Indianapolis as the top dog, numero uno, #1 market in the country for first time buyers.  Zillow used a number of factors in coming up with their top 10 list.  Those metro areas making the cut had:

  • Mortgage payments lower than rents.  (What’s not to like?!)
  • Low prices.  (Again, what’s not to like?!)
  • Low ratio of average price to average earnings.

Indianapolis homes sold for a median average of $148,263 this past month.  With the average household income running right at $52,000 per year, that means the average household can buy the middle of the road house for 2.8x their annual income.  That’s sweet!

And it is many times better than folks residing in San Francisco where the average household makes $83,222.  Now, that sounds good, but… how they manage to make the monthly payment on the average home, I have no idea.  Get this, the average price recently crested $1,000,000.  So, the average household has to pay 12x earnings forK the average house.   Ouch!!  Do the math- that just doesn’t work for most (define that 97%) people.

Ok, ‘nuff said.  If you’d like to learn how to take advantage of those low prices and low payments that Indy has to offer, it’s EZ… call me.

“I work harder to make good things happen!”  -Bob

 

What— Millennials moving to the suburbs?

Yep, that just might be the story.  Seems “After more than a decade of growing concentration, we see that the millennial trend of increased downtown living has peaked out and is now beginning to decline.” That’s according to Dowell Myers, Professor of Urban Planning and Demography at Price School of Public Policy.

So, where are they going instead?  Well, that would be the suburbs.  They’re not yet getting married and buying houses (at least not on par with earlier generations), but with the increased supply of rental homes available in the suburbs, more and more Millennials are moving to the burbs and renting single family homes.  Why are there so many single family homes available for rent?  That’s easy enough to see.  Following the financial crisis, where big banks took millions of homes through foreclosure and then sold them off to mega-investors (courtesy of ultra cheap money from the Fed).

K  However, prices have been increasing in most markets.  And some markets on the east and west coasts are back in bubble land.  So, it’s no surprise that the highest percentage of home loans for Millennials are taken in the Midwest, where prices are the most sane (by far).

Want to learn how to buy right in today’s market?  EZ… call me.

“I work harder to make good things happen!”  -Bob

10 Quik Spring Cleaning Tips

From our friends at US Inspecton

Some people love spring cleaning, others…not so much. While cleaning is not usually the first thing on our minds when spring weather finally arrives, it really is the most basic form of home mainatenance and a great way to care for our homes. Sometimes the hardest part of a home maintenance task though, is knowing where to start and getting going. So here are some quick and easy spring cleaning tasks that are a great place to start!

  1. Clean Ceiling Fans- So you don’t turn them on and swirl dust all over the room.

  2. Launder or Vacuum Curtains – This is not only refreshing, but it will help to eliminate the dust, dander, pollen and other allergens that may have accumulated on the fabric over the long winter–which could exacerbate spring allergies.
  3. Dust- Dust, dust, dust. Clean all the surfaces in the home.
  4. Vacuum Furniture – Clean the surface of pet hair, dust and other dirt, and don’t forget to lift the cushions and vacuum crevasses too.
  5. Clean the Windows – This not only makes your windows look nicer, but helps to let in more light.
  6. Open windows – Leave those windows open to air out the house. It smells great and also helps to let stagnant air and indoor allergens escape.
  7. Clean the Oven – OK, this task stinks. But I saw a good video onlinefor making it a little easier.
  8. Clear the Cobwebs – A dust buster or small vacuum is great for paying attention to all the corners and crevasses of your house and sucking away dust bunnies and cobwebs.
  9. Clean the Refrigerator – Clear out old food, wash removable shelves and drawers in the sink, and place a new baking soda box for odors. For more on cleaning refrigerators click here.
  10. Organize & Purge – Clean closets, organize drawers, and sort through the stacks–somewhere underneath the piles of mail, laundry and over-due library books is your house! This is also a great time to start a collection of old clothes or other items from each family member for local donation.

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