This Week's Real Estate Headlines

The House Market is a Crapshoot:  At first glance of this headline, we almost immediately looked away, but after reading further, we think there are certainly valid points in this discussion.  Karl "Chip" Case, co creator of the Case/Schiller Index, discusses just how uncertain real estate can be, particularly when trying to predict the housing market for the entire nation.  On a more local level, things are never certain, but, with the help of your Realtor, it can be a lot more predictable!

Now is the Time to Sell:  Some of these stats - pending home sales up by 6.1% - were detailed in last week's review, but, this article couples that info with another NAR report detailing the existing homes sales. An increase in new construction, as well as additional existing inventory entering the market, may soon flip the scales from a sellers' to a buyers' market.  According KCM, now is the time to list.

This Week's Real Estate Headlines

A Shift in Home Buyer Tastes:  The IBJ recently interviewed several Real Estate Professionals regarding the current desires of those building new homes in Indianapolis and discovered several trends, including; the decline of the formal dining room and large garden tubs in the master bath and the increase in outdoor living spaces and gray tones on walls everywhere. 

NAR's Chief Economist Weighs in on the May Numbers:  Nationally, the number of homes under contract soared in the month of May - up 6.1%.  NAR's Chief Economist, Lawrence Yun predicts an increase in home sales throughout the remainder of the year and projects the median existing home price to increase by 5-6% this year.  More housing industry predictions are stated in this Houselogic article.

Continued Housing Growth in Downtown Indy:  The Cottage Home neighborhood just East of Mass Ave was recently made a more pedestrian friendly neighborhood with the connection of the Monon and Cultural Trails -- and housing developers took note.  A local developer now plans to build 14 homes in the neighborhood, potentially injecting even more life into the often overlooked community.  Check out the details in this recent IBJ article. 

Weekend Roundup: June 27 - 29

Friday is finally here and now it's time for some fun! Noblesville’s Forest Park is hosting the National Wildlife Federation’s Great American Backyard Campout. Bring the whole family for a fun night camping on Saturday! Escape from technology and enjoy your family's company.

                 This Friday, O.A.R. is in town! Go and see this adored band at the Farm Bureau Insurance Lawn at White River State Park.  Also touring with O.A.R. are Red Wanting Blue and lovable LP. This show is sure to be a show you will not soon forget!

                 Looking for a kid-friendly event? Then check out the Garfield Parks Arts Center’s Movies on the Lawn. On Saturday they will be showing Young Frankenstein at Garfield Park. The show starts at 9:00 p.m. and it’s free!

                This Saturday Sun King is celebrating its 5 year anniversary with beer and a show with The Wild Feathers. Doors open at 4:00 p.m. and the show starts at 5:00 p.m. Get you tickets now.

This Week's Real Estate Headlines

Encore Sotheby's International Realty breaks the top ten in IBJ's Fastest Growing Companies List:  We are honored to share this recent recognition as Indianapolis' 9th Fastest Growing Company.  It is with the dedication of Realtors, staff, and the power of the Sotheby's International Brand that this exponential growth was achieved.  We are extremely grateful to all that have helped us along the way and as we approach our 5 year anniversary we are thrilled with this growth and these achievements.

MIBOR's May data reveals stable pricing and slow growth:  Much is often made of the stats and figures detailing the housing industry.  This week's report states a 4.1% increase in average sales price for the quarter across the entire market.  More locally, Hamilton County saw a 3.5% increase in median sales price, Boone County saw a 40.7% increase in median sales price and Marion County saw a 2.3% decrease in median sales price.  What does this mean for your home value?  Call us and we'll help you determine what all of these stats mean for you.

COMING SOON, Is it in the Seller's best interest: Our always savvy and ever changing local Realtor board, MIBOR, took up this issue recently and adjusted its regulations regarding the "coming soon" or "pocket listing."  The board has tightened up its rules to decrease the time, now only 48 hours, in which a home may be marketed by a Realtor prior to its inclusion in the BLC and available for all Realtors to review online.  This is all in an effort to garner the seller the highest possible price for their listing. 

For more information on any of these headlines, please contact us.  We'd be happy to review with you the current market data!