Phenomenal…
Opportunities Abound…
Amazing Values…
Greatest Midwest Location…
These are just some of the words and mantras that we, not just the Real Estate Industry, but homeowners, homebuyers and investors need to remember and repeat to ourselves everyday. We need to stop being discouraged and down-trodden by the media who sensationalize how bad the housing market is, to the point we don’t hear any other voices. Despite the hype several businesses are actually doing well… why? Because key leadership have told their employees to not watch the news and not be influenced by their one-sided reporting.
Therefore, our industry believes it is important to be heard over the constant drone of negativity. Our leadership needs to shout about the amazing opportunities that everyone has right now for home ownership!
Here are the facts - Positive and Phenomenal facts that rise us above the nay-sayers…
-You can borrow money! There is money available for homes, cars, student loans!
-Mortgage companies are thriving and surviving and have money to lend!
-Mortgage rates are the lowest since …. Since EVER! Can you even remember what distant President was in office when rates were this low???
-Property Taxes are very reasonable - some of the lowest in the country.
-Construction costs to build a new home are down.
-Our home values haven’t taken a major drop here in Indiana nor were hit by some huge housing bubble, like other markets in the US.
-And instead of seeing the increase in bank owned homes as a negative - let’s look at it as an awesome opportunity for first time homeownership and investor purchasing.
-First time homebuyers can actually purchase bank owned properties that may or may not be in need of repair with FHA loans!
Sure the days of getting something for nothing may be gone. So you have to have a little money down in order to obtain one of the biggest investment’s in your life, but isn’t that what made America great to begin with - hard work and saving in order to achieve the American Dream.
According to the Indianapolis Metropolitan Board of Realtor’s as of the end of October, 2008 already over 25,800 properties have SOLD so far this year! You can decide how to look at this information - half full or half empty. We choose to see the wonderful FULL value of home ownership… How it can build a family, a community, a thriving neighborhood business or affiliation. Indiana is still one of the most affordable and best places to live, work and raise a family. So next time the news or radio comes on with their gloom and doom perspective, do yourself a favor - Select the Off Button! Published in the southsidealliance.com - Indianapolis
Why now is the time to buy a home?
Many people have questions about today’s housing market - especially first-time homebuyers navigating their first purchase in the midst of conflicting news about market conditions.
Is it a good time to get in? How does the national housing market affect us locally? What does the current uncertainty about property taxes mean, now and down the road?
Consumers contemplating a new home purchase can look forward to 2008 with great hope: This is an excellent time to take advantage of market conditions that are ripe for buyers. Home inventories are up, giving buyers lots of options, and mortgage rates are low, with traditional money readily available for most consumers.
Worrying about how the national housing market affects the local market is a natural reaction for buyers trying to sort out the sometimes-gloomy national forecast. But as Lawrence Yun, chief economist for the National Association of REALTORS has often said, “A national picture of the real estate market is just about as valuable as giving a national high temperature for the day.”
While the overall picture is important, buyers and sellers in central Indiana are better positioned than many of their counterparts across the country. Central Indiana was spared the major price corrections and severe oversaturation of housing supply that plagued the rest of the nation in 2007. And while predicting the overall level of activity in 2008 is difficult, buyers - particularly those entering the housing market for the first time - can feel confident about a home purchase for several reasons.
Central Indiana’s status as an affordable market is a plus for any first-time buyer. The National Association of Home Builders/Wells Fargo Housing Opportunity Index named Indianapolis the most affordable major market for the ninth consecutive time. Some national media reports have touted the anticipated strength of central Indiana’s market in the coming years, and national market watchers also have their eyes on central Indiana.A Nov. 7 Fortune Magazine article listed Indianapolis as one of only seven cities expected to see home values increase in the next five years. The magazine studied the correlation between property values and rent rates, typically a reliable guide to the value of homes to determine whether an increase was likely. Indianapolis was one of more than 50 cities studied.
CNN Money.com noted that Indianapolis’ local economy is poised to grow faster than the national average over the next two years, with house prices projected to post a respectable gain. It pointed to Indianapolis’ low unemployment rate and stable employment sectors such as professional and business services, health care, education and government.
“Indianapolis is riding a few trend that are bringing about an early recovery in its real estate market,” it said.
Many factors - such as good schools, access to transportation, parks and recreation, and public safety - contribute to overall quality of life and, ultimately, the success of the housing market. But affordability is the cornerstone of central Indiana’s housing market - for 2008 and beyond.
Is it a good time to get in? How does the national housing market affect us locally? What does the current uncertainty about property taxes mean, now and down the road?
Consumers contemplating a new home purchase can look forward to 2008 with great hope: This is an excellent time to take advantage of market conditions that are ripe for buyers. Home inventories are up, giving buyers lots of options, and mortgage rates are low, with traditional money readily available for most consumers.
Worrying about how the national housing market affects the local market is a natural reaction for buyers trying to sort out the sometimes-gloomy national forecast. But as Lawrence Yun, chief economist for the National Association of REALTORS has often said, “A national picture of the real estate market is just about as valuable as giving a national high temperature for the day.”
While the overall picture is important, buyers and sellers in central Indiana are better positioned than many of their counterparts across the country. Central Indiana was spared the major price corrections and severe oversaturation of housing supply that plagued the rest of the nation in 2007. And while predicting the overall level of activity in 2008 is difficult, buyers - particularly those entering the housing market for the first time - can feel confident about a home purchase for several reasons.
Central Indiana’s status as an affordable market is a plus for any first-time buyer. The National Association of Home Builders/Wells Fargo Housing Opportunity Index named Indianapolis the most affordable major market for the ninth consecutive time. Some national media reports have touted the anticipated strength of central Indiana’s market in the coming years, and national market watchers also have their eyes on central Indiana.A Nov. 7 Fortune Magazine article listed Indianapolis as one of only seven cities expected to see home values increase in the next five years. The magazine studied the correlation between property values and rent rates, typically a reliable guide to the value of homes to determine whether an increase was likely. Indianapolis was one of more than 50 cities studied.
CNN Money.com noted that Indianapolis’ local economy is poised to grow faster than the national average over the next two years, with house prices projected to post a respectable gain. It pointed to Indianapolis’ low unemployment rate and stable employment sectors such as professional and business services, health care, education and government.
“Indianapolis is riding a few trend that are bringing about an early recovery in its real estate market,” it said.
Many factors - such as good schools, access to transportation, parks and recreation, and public safety - contribute to overall quality of life and, ultimately, the success of the housing market. But affordability is the cornerstone of central Indiana’s housing market - for 2008 and beyond.
Stocks jump following rebound in home sales
NEW YORK (AP) — Some heartening news on home sales and earnings Tuesday has let Wall Street set aside a little of its angst. Full Article 02/03/2009
- The National Association of Realtors said buyers stepped in to snap up properties at steep discounts in December, especially in the South and Midwest. Its seasonally adjusted index of pending sales for preowned homes rose 6.3 percent in the final month of the year from revised figures in November. Wall Street welcomed the news; investors are looking for any signs that the housing industry slide is slowing.
- “The market is encouraged by the more upbeat report on housing, albeit from a low level,” said Alan Gayle, senior investment strategist at RidgeWorth Investments. “A key element of the current malaise is housing and credit-related. And the report on home sales suggests that we are making progress on that front.”
13% Increase in Pending Home Sales
From the Associated Press in Washington comes news of a 13% increase in pending home sales in the South and Midwest.Article Highlights:
- An index that tracks signed contracts to purchase existing homes rebounded in December, as buyers snapped up properties at deep discounts, especially in the South and Midwest.
- It was the second positive sign in the past two weeks for the troubled U.S. housing market, and may indicate that a bottom is forming — at least for home sales.
- The National Association of Realtors said Tuesday its seasonally adjusted index of pending sales for previously owned homes for December rose 6.3 percent to 87.7 from an upwardly revised November reading of 82.5 … The reading also was up 2.1 percent from December 2007 … January sales data, to be released later this month, may look good too.
- Pending home sales increased about 13 percent in the South and Midwest, but fell almost 4 percent in the West and about 2 percent in the Northeast.
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