Market Trends

This Market Looks Different

Gone (I say) gone are the days when a Buyer had to waive inspections and appraisals and pay all of their own closing costs. The market we are standing in is totally different. Having appraisals and inspections done are now standard practice, as it should be. These practices put safeguards in place for all parties and keep everyone honest. And asking the Seller to do repairs or pay for some of the Buyer’s closing costs is definitely on the table.

With that being said, now MORE DEALS ARE BEING MADE. We just closed on one and have a few in the making. For lots of reasons, You need an Expert in your Corner! Give me a call/text (317) 625-0655 to see what we can do for you!

For more on this chart/report, click the link

“Crazy has left the building!”

That’s right. A seller can no longer expect to have 20 showings the first weekend and get eight offers above list price with no appraisal or inspections. That was so 2021. It just hasn’t been happening for months now.

Many buyers, staring at a mortgage sporting a 6+% interest rate, have taken their ball, and are sitting at home. True, some push on regardless- think those with a new baby, moving mom home, or moving to take a new job. But for the majority, they are waiting for something to come down- either rates or home prices, or some combination of the two.

November numbers are out, and there were fewer sales (down 29% from a year ago)— yet lower inventory (down 78%). And prices are sticky, being up 10% from a year ago but possibly having peaked (around $277,000 on average). It’s taking longer for homes to be sold, and Buyers are now securing deals at a 2% discount from ask. We are far from a balanced market, but it is getting healthier.

Sellers will need to put their house in good order (think about what was done to sell a home in 2019). And then be prepared to negotiate. On the other hand, Buyers can find Sellers offering interest-rate buydowns and other discounts to make their home more affordable.

This is a NEW market. You do not want to get caught fighting the last war. Call or text today to put together a winning strategy in this fast-changing market!!!

Click HERE for Full PDF Market Report

Just Released : Local Market Update | Sept 22

Housing data released by MIBOR comparing Aug 22 to Sept 22 are in, and to no one’s surprise, the local real estate market is slowing in Indiana’s 16 central counties.

The facts are:

Closed sales are down from 3,521 –> 3,239
No change in Price – hovering at 285K
New listings are down from 3,791 –> 3,412
Days on the Market is up from 22 –> 28
Active Inventory is up from 4,004 –> 4,356

Do you know what I am telling my clients – breathe. If now is not the right time, take this time to prep for your next move.

If you are selling, schedule a consult, and I will give you my expert opinion on what improvements should be done or NOT DONE for the highest return
If you are buying, let’s get the financing in order, OR let me do some research in some prospective areas

We have lots of resources on our website so check them out! As always, I am happy to jump on a call to discuss your needs.