Interest rates are on the rise. A local trusted lender that I refer business to just went from 3.875% to 4.25% on a 30 year fixed mortgage loan. The industry was not expecting 4 percent or over until the end of the year.
The median price of a home in Indianapolis has dropped about $9000 from December 2021 to January 2022. Very typical in the winter months. Not as many buyers looking and not as many bidding wars where bidders will hike the prices. Sales dropped about 33 percent in January from the 2 previous months.
Average Days on the market have risen from 19 in October 2021 to 29 in January 2022. It will vary around the Indianapolis market. Where I live, it is around 10 days.
Curious how much your home has appreciated over the last year?! ⬆🏡 Buyer demand is at an all-time high due to a combination of record-low interest rates and limited housing inventory. Here’s what that means for sellers… 💥 You have …Continue reading →
According to Lawrence Yun, Chief Economist at the National Association of Realtors, “For every listing there are 5.1 offers. Half of the homes are being sold above list price.” It takes some real thought and desires to win in a …Continue reading →
A hot real estate market like the one we’re in now gives you the chance to cash in on some serious equity from your home sale. It can also make buying your next home a bit of a juggling act. …Continue reading →
It happens from time to time. The home appraisal comes in LOW 📉😱 With how quickly this market is appreciating, comparable sales can be lagging, which causes what we call an “appraisal gap.” What can you do in …Continue reading →
In the real estate business, we occasionally run across a situation where a seller needs to sell their house and get the profits from it before they can buy a new house. In a perfect world, a Realtor can set …Continue reading →
Recently I had a listing that was a short sale. A short sale is where the market value of the house is lower than what is owed to the lender on the mortgage. The owner contacts the lender and asks …Continue reading →
1. Curb appeal – This is the first impression. A well-manicured yard with no overgrown bushes or trees makes it look like the seller really cares for their property. Make sure the gutters are not clogged and overflowing with leaves. …Continue reading →