Considering the temps outside and the roaring wind surrounding my house, I must say I enjoyed my reading of yesterday’s Indianapolis Star. In the January 24, 2014 issue, the front page roared about a healthy housing market! An article by Chris Sikich and Jeff Swiatek provides a great outlook on what lies ahead beyond this frozen world we’ve been stuck in! Statistics were sited from the Metropolitan Indianapolis Board of Realtors saying “The 30,310 existing homes that sold in the 13-county metro area were the most since 2008, when the economy was slipping into the throes of a recession, and they topped 2012 sales by 4,500 units”. One thing the article mentioned was the slow down in the market in October of 2013. They writers believe “the only black marks for 2013 were a slowdown in sales starting in the fall, caused by a rise in interest rates from the nearly record-low rates from earlier in the year, and fewer homes on the market”. I think a larger factor in causing that slow down was the federal government shut down. Not only did this affect the morale of the American people, it also had a strong effect on the federally funded lending programs. It created a nightmare for many buyers and seller. Some things from Sikich & Swiatek’s article I applauded:
- A jump of 17.8 percent in sales of existing homes last year is the latest sign that housing in metro Indianapolis has bounced back
- At year’s end, the number of homes for sale represented a five-month supply, or 30 percent fewer listings than at the start of 2013
- As a result of the smaller supply, the average amount of time that homes spent on the market before selling was down nearly 27 percent in 2013, to 5.4 months.
- After two years of sales growth of about 18 percent, it’s clear the area’s once-battered housing market has stabilized, said MIBOR President Janet Jernigan.
Here’s what it boils down to: If you’ve been thinking about listing your Heritage Lake home but waiting for things to turn around, It’s time! Some might think they want to wait a bit longer to be sure, but I say no way. There are so many reasons to list now. Not only is the inventory low, the interest rates are still low! You know they will go up. This is the window you’ve been waiting for-especially if you expect to finance a home purchase after you sell your current home. Some of you are saying ‘I think I’ll wait ’til Spring’. I say it’s close enough now! Potential buyers are already searching for Indiana lake houses for sale on line, making their plans to visit and tour homes. They want to be in their summer home by early spring and ready to play. By the time you contact us here at Brouhard Realtors, set an appointment time and we prepare your free market analysis, and then sign the listing contract. it will be February. By the end of February your listing will be everywhere! Facebook, Twitter, Linkd In, heritagelakerealestateblog.com., heritagelake.com, MIBOR, Realtor.com. Trulia, Zillow, lakehouse.com, brouhardrealtors.com and so on. Friday’s Indianapolis Star article stated it best when they quoted Pfahler of Re/Max as saying “I suspect once this weather breaks, we are going to have a pretty fast and furious selling season in the spring.”.