Real Estate

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!

How Sellers Can Prepare For An Early Start To The Spring Market

In last week’s blog, I talked about how to prepare for an early start to the Spring market as a Buyer. But what if you need to sell to buy? The following checklist will help you prepare yourself or your home property, so don’t get left behind!

Getting Ready To Sell

If you’re hoping to put your place on the market and capitalize on those early-bird buyers, you want your property to be in the best possible shape. That means you’ll want to tackle the following tasks:

Clean: Scrub like you’ve never scrubbed before! Some recommend hiring a cleaning service as new eyes will find old stains and smudges you no longer even notice.

Paint: Nothing brightens up a room like a fresh coat of paint. Don’t forget the moldings and trim. Buyers notice every detail.

Declutter: You’re going to have to pack up anyway, so why not do it sooner rather than later? As you go through each room, start storing non-essential items that you plan to take with you to your new address. If you find items you no longer want or need, donate them or try to sell them online for a quick influx of cash you can spend on your new place.

Tackle repairs: Take care of anything that would pop up on a home inspector’s report. Chances are you’ll need to fix it before you move, so why not do it now and enjoy these improvements for as long as you remain in the home?

Work on your curb appeal: Your home’s exterior is what’s going to make that all-important first impression on buyers. If your lawn boasts more weeds than grass, your shrubs are dead, and your fence is falling apart, you can count on that prospect driving on to the next house.

Whether you’re planning on selling, buying, or both, you may be competing with plenty of other buyers and sellers once Spring is in full swing. So, taking care of the items listed above can help you get the edge you need. Especially with the Spring real estate market getting its own head start!

Not sure where to get started …give me a call at (317) 625-0655. I can help with a hassle-free “No Strings Attached” Room by Room Analysis. What does this mean…. that I walk your property (inside and out) and give my two cents on repairs/improvements that could be done to yield a quick home sale as well as sell for the most $$$. Click Here to schedule today!

We work harder to make good things happen!

How Buyers Can Prepare For An Early Start To The Spring Market

Is January the new April? When it comes to the real estate market, experts say yes.

Whether that famous groundhog sees his shadow, experts suggest Spring will arrive early this year—at least when it comes to the housing market. In fact, some are speculating that January may very well be the new April.

What’s causing this already-busy buying season to kick-off ahead of schedule? Low inventory and rising home prices are spurring house hunters to come out of hibernation months before they previously would have.

With that in mind, the following checklist will help you prepare yourself if this is the year for purchasing your dream home.

Preparing To Buy

If you’re ready to purchase a new home, there are several things you can do to make sure the process goes as smoothly as possible.

Clean up your credit: Your credit score not only impacts your ability to secure a mortgage at all, but it will also determine the interest rate you’ll pay. If you’re worried about your credit score, start working toward raising it by paying all your bills on time and making sure your balances are low. Check your credit report by contacting the three credit bureaus: Experian, Equifax, and TransUnion. You’re entitled to a free report from each agency once per year. Having the information amended will boost your score if you spot an error.

PRO TIP:  Speak to an experienced mortgage professional.  Sometimes they can advise you on what (and what not) to pay down or off in order to improve your credit score.  Click here to talk to one of our trusted partners.

Get pre-approved for a mortgage: Getting pre-approved lets sellers to know you’re the real deal. And, it lets you see what you can afford, so you focus on the right price points and choose the perfect one to go after with confidence.Save for a down payment (and then some!): Putting 20% of the purchase price down at your closing isn’t necessary, but it could help you in terms of better rates and overall monthly payments. It can also help you avoid paying for private mortgage insurance (PMI). It’s also wise to save for emergencies because once you’re in your new home, you never know what may suddenly need repair.

Rather than just prequalification, which is more like an estimate of what you can borrow, a pre-approval means the loan is much more likely to get through underwriting once you get a home under contract because the lender has already assessed your credit, income, debts, and assets.

Plus, if you find yourself competing for a property, being able to tell a seller you’re pre-approved can give you the advantage you need against others who are not.

Do your due diligence: Think you’ve found an area you like? Check out neighborhoods at different times of day, and be sure to notice traffic patterns. For example, is the home you like on a street drivers use to dodge traffic on Main Street. Will you encounter school drop-off or pick-up congestion that will make getting in or out of your driveway a hassle? How about early morning church bells or that firehouse whistle? Consider all these factors and anything else that may appeal to you or bother you personally as you drive past potential homes.

If you’re planning on buying soon, you may be competing with plenty of other buyers once Spring is in full swing. So, taking care of the items listed above can help you get the edge you need. Especially with the Spring real estate market getting its own head start!

Not sure where to get started …give me a call at (317) 625-0655!

Do you have a home to sell?? Be sure to check out back for next week’s blog.