Should You Sell or Sit on the Sidelines?

Recent reports were released for the third quarter on the Central Indiana Real Estate market. I thought it was interesting because we have seen these kinds of statistics for a long time. Every new quarterly report that comes out I expect things to change, but they just seem to be going in a positive direction. I am not complaining at all, but it is just surprising, as I sometimes wonder how our local market can sustain such growth.

That being said, I wanted to share a few things that stuck out to me and bring them to your attention. Next time someone asks you about the real estate market, just throw out some numbers at them and it makes you sound really smart….that’s what I am trying to do right here!

When comparing the 3rd quarter foreclosure inventory to the same quarter of 2015, we have seen a 20.8 percent decrease. This is the number that I saw that made me want to share it with everyone. That is a huge decrease! Traditional inventory was also down compared to 2015, but not as drastic. However, the decrease was still significant at 13.4 percent lower than the 3rd quarter of 2015 (combined 13.8 percent decrease).

One of the things that we struggle with locally as Realtors, is the lack of inventory and the growing buyer interest. To understand what I mean by that, take the 3rd quarter sales for 2016. Sales increased 8.7 percent when compared to the 3rd quarter of 2015. Prices also increased 5 percent during the same period.

If you take a look at those numbers and put that in perspective, you will see the struggle that we face. Not only as Realtors, but buyers too. When you get a decrease in inventory of 13.8 percent and an increase in sales of 8.7 percent, it makes finding that perfect home a little more difficult.

While I have never seen a better time to sell your home, you are then faced with a tough challenge of finding a property to buy, which is a challenge at times. This is why many people that are interested in selling are still on the sidelines because they are nervous that they will list their home and it sells quickly and they won’t be able to find their next home. Overall, the market is fantastic and I don’t want to sound like I am complaining. I just wanted to give you information about what I am seeing and show you the numbers to back it up. If you are interested in reading more, click here to see the full report.

Awesome opportunity for Greenwood handyman

This is a 3 bedroom, 2 bath ranch home in Greenwood. The location is convenient to anything and everything you would want to do. Can you imagine sitting out back with that view. Property needs a little work, but almost all is cosmetic. If you are handy and have the skills, this is a great property for you to add a lot of value.

In order to get a better idea about the property, watch this video of a quick walk-thru.

If you don’t have handyman skills, this can still be a great house for you. There are a couple really good construction loans that will not only help you purchase the property, but also help you pay for the renovations. If you wanted to design your own home, but didn’t think you could. If you ever wanted to buy a fixer upper like on all those shows, but thought it wasn’t really doable here, then you need to check this out and let me give you info on a 203k loan. Let’s talk soon.

Home Buyers and Sellers Prime Time

Attention home buyers and sellers! School is nearly over in most districts, and this means many things.  It means tulips, and daffodils, and lilacs, and crocuses, and remembering our beloved dead, and spring cleaning.  It also means that prime home-selling and buying season is here.

Many people looking to sell their home have put off listing their homes so their children can finish up a school year without the disruption of people touring their home.  Many home buyers have put off seeking a new home for this same reason.  Once school is out, homes are listed and the prospective buyers go into serious action.

Home Sellers Be Prepared to Sell

Home Buyers Be Ready - Schools Out for SummerIf you are a seller, be sure your home – even if your family is still living in the home – is thoroughly clean and prepped for close inspection by prospective buyers.  If you need some specific advice about what to do and how to do it, we’ve posted about how to clean a house that you want to sell before.

If you are a seller, be ready for people who want to see your house.  Make sure your house will be ready before school starts up again; most families who are relocating want to be settled with enough time for their children to settle in before that important first day of school.

Home Buyers Be Ready to Move!

Once the kids are out of school, the home buyers can begin their house-hunting can begin in earnest.  Get yourself a great real estate agent who works in a reputable agency and schedule a face-to-face meeting so that your agent knows exactly what you are looking for, and where you would like to live.  Be sure your agent knows about any deal-breakers, and be sure your agent knows exactly what you absolutely must have; this will save both of you from wasting your time with homes that are not going to work out for you and your family.  If you require an in-ground pool, be sure your agent understands that you are not interested in looking at a house that doesn’t have one.  If you have small children, be sure your agent isn’t going to show you a house on a cul-de-sac populated by older people who work nights and require quiet days.  Give your agent as much information as possible.

Spring and summer are the very times when many families are actively seeking a new home.  These are also times when many homeowners find that they will be sure to get a bid on their house.

Both must be ready!

10 Simple Steps to Buying a HUD Home

HUD Property Photo

Here are 10 steps you should follow if you’re interested in purchasing a HUD home property listed in your area.

  1. Choose The Red Oak Real Estate Group to be your authorized HUD real estate agent
  2. Familiarize yourself with the HUD website
  3. Find an FHA approved lender (The Red Oak Real Estate group can help you with this!)
  4. Check out The Red Oak Real Estate Group for expert, authorized help
  5. Start looking at homes.
  6. When you find a HUD home you want, have your authorized agent submit an offer.
  7. Have your authorized agent help you fill out a HUD contract package.
  8. Send your earnest money to the address your Realtor will give you.
  9. Schedule an inspection of the home.
  10. Close, move in, and live happily ever after!

You can find more information on HUD homes on our website. If you have other additional questions please feel free to contact us through our online form or you can request a scheduled appointment where we can speak in depth on your specific questions and needs regarding the purchase of a HUD property.

We look forward to hearing from you soon.

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