Real Estate

Lock n’ Load

Yesterday was a long, busy day- at my desk by 7 AM, showed houses to 5 different people, then wrote 2 offers before I called it quits around 9:00. But… it didn’t get really crazy until this morning when I got ready to write up an offer on the last house we saw last night. It just hit the market yesterday and two other parties were looking at it while we were. My

guy decided this morning that he wants this house. I suspected someone else might also want it. So I texted the listing agent to see if they’d received any offers. He already had 3! (Not bad for the first day. LOL) Well, I crunched the numbers and it checked out, so my client decided to add 1 more offer to the mix. Now that’s determination!

Like I’ve been preaching— if you’re wanting to buy a new home, get pre-qualified by a good lender (I know a guy, and a gal) and when you go looking by all means come ready to do business.

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

Buyers- Be Like a Boy Scout

MIBOR just released sales numbers for the month of January, and by all measures the trends of recent months are continuing in full force. Bottom line, sales are up and inventory is not keeping pace with demand. The takeaway is for buyers to be successful in their quest for a new home, they’d best be like a Boy Scout, (ie. “Be prepared”).

Closed sales are up 4% over last January’s numbers, while new inventory only increased 1%. That combination is playing the leading role in giving home prices a boost. They’re up 5% over a year ago, topping $143,700.

At month’s end there were 8,668 homes listed for sale in central Indiana; which is 15% less than a year ago this time. Btw, the current inventory is lower than anything I’ve seen. Ever. Anywhere.

There’s not much you or I can do about any of that, except to Be Prepared ourselves. To learn how to best position yourself to take advantage of opportunities in this market, don’t be shy— call me!

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

Fewer Foreclosures

The year end report for the central Indiana market is just out, and the number of foreclosures has continued to decline. They comprised just 7% of all closed sales in 2016, and inventory fell 38% year-over-year; making the year end foreclosure inventory the smallest this century.

Somewhat surprisingly, the median average sale price dropped 4% to $65,000. One would’ve thought that with declining inventory the average price would have risen— especially since the average price of all other houses rose double digits.

If you’d like more info on the foreclosure market or on how might affect you— call me. I work harder to make good things happen!