Unless you have been living under a rock for the past 2+ years you know the majority of the real estate market has been going through several challenges lately. In central Indiana alone our market has depreciated 11.3%. Not every neighborhood has seen this kind of depreciation-some have and some haven't. That is why it is critical to speak with a real estate professional to determine exactly what your neighborhood has seen as far as market conditions.
We aren't out of this yet, but the predictions I have seen recently is that the re-sale market is rebounding in the 3rd quarter of this year to as late as the 2nd quarter of next year. New homes are expected to rebound late 2009 or early 2010. Bottom line, with the low interest rates of around 6% and the high inventory of homes in central Indiana (11,000+), there is no better time than now to buy a home. There is a 9.7 month inventory of homes right now. The adage of, "buy low and sell high" clearly applies to buynig a home, too.
Visit our website at www.Welcome2Indy.com for lots of tools to help with your decision-making process and best wishes!
