Market Trends

Sellers Beware of Online Agents – This is a true story!

I have been working with a client for a few months now, searching for a home. As you know, the market is moving pretty fast even in these cold months, so we have been on “high alert” as homes are coming on the market. Finally, one popped up, and within the day, we walked through, and I was writing up an offer. I wish I had the happy ending to share. But unfortunately, that was weeks ago, and we are still waiting for a response.

Most know that the seller’s agent responds back within 24 hours when an offer is made. But for whatever reason, this seller’s agent is on its own timeline. I do wonder if the seller knows about it???

If you know anything about me, is that I follow up. I always call the seller’s agent to let them know an offer is sitting in their inbox. This is also an excellent time to answer any questions they may have. With this particular call, I got his voice mail and left a message. (First RED FLAG 🚩 though I get it. People are busy 🤷)

Another day goes by, which is strange, and I make another phone call. This time, I am pushy and get a “not so friendly” person informing me that the agent I am looking for may not even know there is an offer. This property had a “team,” and it could take up to 5-7 days for a response. (More RED FLAGS 🚩🚩! First, shouldn’t the entire team know the status of an active property? And secondly, 5-7 days to respond to an offer? The seller agreed to this??)

I have to tell you that this property should have been sold weeks ago and would have been if their “online” agent had made them a priority. These online platforms promise a lot (strong cash offer, no showings, free local move, etc.) and prey on people’s emotions without delivering.

The bottom line is that this is bad business, affecting everyone involved – the seller, the buyer, the agents. I hope you never get into this type of mess (either buying/selling) though if you do, be sure you have the right person in your corner. Putting you first!

DEC 2021 | Market Insights Report

MIBOR just released December numbers for the Central Indiana housing market. The key takeaways are:

·     Prices continue to edge upward, up 1% over last month, but definitely off the 15% pace compared to a year ago
·     Sales in December were down 2% from December 2020; with average days on market growing from 21 to 26 days
·     Active inventory continues to slow, down 14% from the preceding month, and 14% from a year ago
·     Inventory remains tight- especially among homes built in the most recent 30 years.  Some have drawn as many as 40 offers.  With older homes, sales are much, much, much slower

A full PDF report by county can be found here

If you are thinking of selling / buying this year, give me a call at (317) 625-0655. I can provide a full comparative analysis so you can make an informed decision on the next steps. Might be the right time for you!

NOV 2021 | Market Insights Report

MIBOR just released November numbers for the Central Indiana housing market.  The raging fire that has been in the local housing market for the past couple of years subsided ever so slightly again in November.  It’s as if there was a light rain that fell last night, dampening the flames.

Prices, still running 12% stronger than a year ago, tapered off 2% from October.

Closed sales were up 5% from last November, but new listings were down a whopping 21% from October.  Put it all together, and available inventory was down 17% from a year ago, pulling the options belt even tighter.

Days on the market have started to creep upwards, as has the average ask: sale price (now at even).

Whether the market is out of control or there’s a smoldering fire, working with an experienced agent like myself pays off. Give me a call at (317) 625-0655 and let’s talk through the specifics of your situation.

Click HERE for Full Report