Happy Fall!!! Like it or not, pumpkin spice lattes, football, Fall festivals, and hot apple cider are here!! Fall is also usually a time for the real estate market to make its final push before winter. More on that later…
We hope that you are enjoying the cooler temps and watching football again after a long break. It is hard to believe that soccer is almost over and sectionals are only a couple of weeks away. Ana is looking forward to the end of this season and having more time for pursuing other interests. Tali only has two more football games for which to cheer the first week of October and then that season is over. Her school competition cheer team had their first competition a couple of weeks ago and they placed first! The next one coming up will be MUCH harder!
Brigid just got back from a business trip to Philly and then leaves again for another trip to Denver in a week. She will be able to see her aunt and uncle and maybe cousins who live out there now and is looking forward to that.
As a family, we are looking forward to Fall Break next month. We have been anxiously awaiting this trip for 3 years since we had to cancel it due to the pandemic. We are headed to Italy! We have never been before and are SO excited! We will be touring Milan, Lake Cuomo, as well as part of Switzerland and the Alps. If you have traveled to any of these places and have some must-do experiences, please let me know.
Thea is staying extremely busy helping buyers in this shifting marketing. Making sure you have an extremely strong advocate who is knowledgeable about not only the market, but also the mortgage environment is crucial right now.
Kylie is keeping very busy with keeping up with the team paperwork and reports as well as marketing (with Thea’s help as well). She is doing a great job, as always keeping everything organized so we and our clients don’t miss a beat!
Lots happening for our clients over the next few months!!! Thank you to everyone who attended our September Happy Hour. We had a great turnout and really enjoyed hearing from our sponsor Sarah Snarr with Journey Injection Lounge-309-621-5797. If you have thought about cosmetic injections or need to address joint pain, give Sarah a call. She is a Nurse Practitioner who puts her clients first and achieves great results.
Our October Happy Hour is being moved back one week due to Fall Break. Please join us on Thursday, October 27th from 5-6:30pm at Matt The Miller’s in Carmel. Our sponsor this month is Susie Chamberlin with 360-Tour Design. They do all of our photo and video shoots for our listings and do an amazing job!! As always, we will cover the food and drinks. Come relax, meet some new friends and maybe some old ones and share a smile with us. You are welcome to bring a friend as well!
I hope you were able to join us for Thea’s Home Buyer Workshop on the 28th. She covers what is going on in the market right now as well as what the home buying process looks like and how to position yourself to be successful. She also answers all of your questions. If you or someone you care about are thinking of buying a home in the next year, please sign up for this awesome workshop. Guarantee you will learn something new! You can text Thea at 440-862-1118 to register for the October workshop on the 26th.
Thank you to those who attended my Home Seller Workshop on the 13th of September. We covered the Top Ten Dumb Mistakes Smart People Make When Selling Their House. We also covered the current shifting market, what specifically that means for each participant, what the future is likely to hold (our crystal balls are a little cloudy right now as well!) and how you can make your house stand out in this market when homes are not typically selling in a day anymore. The next workshop will be on October 11th from 7-8:30pm via Zoom. Contact Steve at 317-339-7698 to get registered.
Mark your calendars now for November 22nd for our annual Thanksgiving Day Pie Pick-up. We will again be supporting No Label at The Table this year and provide gluten-free pies AND we will also be providing regular pies for those who prefer those. You will have several flavors from which to choose and we will have your pie ready to pick up on the 22nd. Look for more info in the mail and e-mail soon!
Also, mark your calendars for our annual Photos with Santa on Saturday, November 19th at our office from 11AM-3PM. The first hour is for sensory-sensitive children only. It will be on the 4th floor of our building this year. Photos will be sent to you within a week so you can include them on holiday cards whether they are printed or digital. We will have a Santa’s workshop and your children can write a letter to Santa and he will be responding to each one!!!
Due to Thanksgiving, we are moving our November Happy Hour back two weeks to December 1st from 5-6:30pm. We hope you will join us for our last Happy Hour of the year!!
Also, a bit of sad news to report. Your calendars for 2023 will be the LAST ones you will receive from us. We have provided calendars for our clients for over 40-years!!! Sadly, like so many print materials, they have become obsolete for so many of our clients. After talking with many of you, we made the decision to make 2023 the final year. As you can imagine, they are very expensive for us to send and have only gotten more expensive over the years. With so many people (including our families) only using electronic calendars to keep track of everything, we felt this was the right decision. Thank you for understanding!
Finally, the real estate market. It. Has. Shifted. Houses are not selling in hours. Most houses aren’t even selling in days. Most houses are taking weeks to sell now and 41% of houses have needed a price reduction in order to sell. Builders are offering nice incentives again, such as $20,000 Design Center credits and $10,000 toward closing costs. Things have drastically changed in 6-months, however we are still extremely short of housing supply. It is trending up, but we are a long way away from being in a balanced market defined as approximately 6-months of inventory. We have 1-month of inventory right now! Interest rates continue to climb to the high 6% range, which is still below the 40-year average of around 8%. We do expect them to come back down next year. If you are thinking of buying/selling/building/investing in a house, give us a call TODAY so we can walk you through your options as you have many right now. Below are some stats from MIBOR comparing August 2022 to July 2022:
Median Sales Price-DOWN 3.1% to $285,000
Closed Sales-UP 1.0% to 3,461 units
New Listings-DOWN 8.4% to 3,761 units
Pending Sales-UP 2.0% to 3,486 units
Days on Market-UP 35.3% to 23 days
Price per s.f.-DOWN 1.2% to $166
% of Ask Received-DOWN 1.4% to 99.3%
Active Inventory-UP 3.9% to 4,010 units
Absorption Rate-9.1% to 1.2 months
Happy Fall!!! See you soon at an upcoming event!!
Enjoy the October newsletter (click here) and let us know what you think!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Wednesday, September 28, 2022
Saturday, September 03, 2022
September 2022 Newsletter
The end of another summer and the start of another school year. Why does it seem like the older we get, the shorter time seems to be? Ana is in her senior year at Guerin Catholic and we are finishing up applications for colleges. Clemson is still her #1 choice, by far. She is making the most of her senior year by being involved in a lot around school from Deca to school choir to managing the varsity women’s soccer team, to attending football games on Friday nights. Time is going so fast and before we know it, we will be posting move-in photos for college next year!!
Natalia is in 7th grade at Westfield Middle School and is heavily involved in competitive cheer. She is still cheering at ICE, which is her All-Star cheer team as well as her school sideline cheer team for football games and her school competition team. The school cheer teams are new for her and so far she really enjoys them. Many of her ICE teammates are also on the school team, so she knows many of them already.
Brigid is still rocking it at Merck and is taking on more and more responsibility as they roll up a division under her. She is much busier than she was as a field rep, but loves every minute of it. So very proud of her!!!
My biggest news is that I turned 50 a couple of weeks ago! While it is just a number and another day, it IS quite the milestone and the alternative isn’t too appealing! Brigid threw me a nice party (it wasn’t a surprise party) and it was so nice to see so many friends and neighbors.
Thea has been enjoying this shifting market and having more than 5-minutes in order to see and write an offer on houses for her buyers!! She has been keeping busy with not only quite a few buyers, but also working at Greekfest and she is the Council Chairwoman for the Westfield Young Professionals who are organizing an amazing Young Professionals Leadership Conference on September 8th. We are also a sponsor. If you or someone you know is under the age of 40, we would LOVE to have you attend and there are a few tickets still remaining. E-mail Thea at thea@Welcome2Indy.com and she will get you registered.
Kylie has been focused on getting her kiddos back in school over the past couple of weeks. Trey is a freshman at Carmel High School. That is always a significant transition from elementary school, but he is doing well. Jax is starting kindergarten this year, which is also a huge transition and he has been so excited!! On top of this, Kylie organized our first Broker Progressive Open House for a builder we represent, Olthof Homes and she just knocked it out of the park!
We hope you were able to make our Party in The Park a couple of weeks ago. We had a great time with some amazing live music courtesy of The Beatless, Kona Ice truck, photo booth, caricature artist, magician, and games, food, and drink. If you missed it, we hope to see you at an upcoming event soon!!
Speaking of upcoming events, join us for our Happy Hours! They are always the 3rd Thursday of each month from 5-6:30pm at Matt The Miller’s in Carmel. Food and drinks are always on us! Thank you to our sponsor last month Jonathan Walla with Walla Painting. They are our go-to painter for not only all of our clients, but also personally. They do an amazing job, are trustworthy and very competitive on price. If you are considering a painting job soon, give Jonathan a call at 317-999-8124. Tell him I sent you. Join us for our next Happy Hour on Thursday, September 15th. RSVP to events@Welcome2Indy.com by September 13th.
Thea and I are hosting virtual Buyer and Seller Workshops monthly. If you or someone you know is thinking of buying, selling, or building in the next year, please join us. We will be talking about what the process looks like, the most common mistakes we see people make and how to avoid them and answer any questions you have. This is a laid-back, conversational hour of learning. Steve’s next Seller Workshop is at 7pm on September 13th and Thea’s next Buyer Workshop is at 5:30pm on September 28th. RSVP via the Eventbrite link you should have received or just e-mail us and we will get you signed up. steve@Welcome2Indy.com or thea@Welcome2Indy.com
Based on the feedback, we know you want an all-expense paid vacation!!! Our next $5,000 vacation giveaway is coming up in 2-weeks!! Call us from 11:30AM-5:30pm on Tuesday, September 13th and we will get you registered for the $5,000. If you give us a referral, we will add 5 entries PER REFERRAL! The phone number to call is 317-975-1511. We hope to hear from you!
There has been a LOT of talk lately about the economy and especially real estate. Interest rates have gone up for the moment, but are still below the 40-year average of 8%. Also, housing inventory is creeping back up again and that is a welcome change from the 2-week inventory we have had for the past year! We are still only at 1-month of supply and we should be around 6 months +/-.
We are expecting mortgage interest rates to fall starting Q4 of this year as we have entered an official recession and history has shown us that interest rates have fallen in every one of the past 6 recessions. None of the economists or industry leaders I have heard believe this will be a long or deep recession and we should pull out of it by summer 2023. Time will tell if they are correct or not.
Is our market overvalued?? Recent news stories would have you believe so, however consider this-the average appreciation rate for the US over the past 40-years is ~4%. If you set a trend line of 4% over those 40-years and extend it to today, we are right where we should be! This takes into account The Great Recession as well as our recent boom. Will some markets around the US depreciate slightly?? Most likely yes. I do not believe Indianapolis will be one of them and neither do any of the economists with whom I have spoken.
This is still a great time to buy or sell. You have never been able to get as high of a price for your house as you will today. If you are a buyer, you DO have more time and inventory from which to choose. As the adage goes, Marry the house and date the rate! Want more info or info specific to YOUR situation, please e-mail me at Steve@Welcome2Indy.com.
Below are some market stats courtesy of MIBOR comparing July 2022 to June 2022:
Median Sales Price-DOWN 1.8% to $294,500
Closed Sales-DOWN 9.8% to 3,404 units
New Listings-DOWN 17.8% to 4,087 units
Pending Sales-DOWN 0.7% to 3,585 units
Days on Market-UP 28.6% to 18 days
Price per s.f.-DOWN 0.6% to $168
% of Ask Received-DOWN 1.2% to 100.7%
Active Inventory-UP 12.8% to 3,866 units
Absorption Rate-UP 22.2% to 1.1 months
Have a great Fall and we hope to see you at some of our upcoming events!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Click here to read our September newsletter
Natalia is in 7th grade at Westfield Middle School and is heavily involved in competitive cheer. She is still cheering at ICE, which is her All-Star cheer team as well as her school sideline cheer team for football games and her school competition team. The school cheer teams are new for her and so far she really enjoys them. Many of her ICE teammates are also on the school team, so she knows many of them already.
Brigid is still rocking it at Merck and is taking on more and more responsibility as they roll up a division under her. She is much busier than she was as a field rep, but loves every minute of it. So very proud of her!!!
My biggest news is that I turned 50 a couple of weeks ago! While it is just a number and another day, it IS quite the milestone and the alternative isn’t too appealing! Brigid threw me a nice party (it wasn’t a surprise party) and it was so nice to see so many friends and neighbors.
Thea has been enjoying this shifting market and having more than 5-minutes in order to see and write an offer on houses for her buyers!! She has been keeping busy with not only quite a few buyers, but also working at Greekfest and she is the Council Chairwoman for the Westfield Young Professionals who are organizing an amazing Young Professionals Leadership Conference on September 8th. We are also a sponsor. If you or someone you know is under the age of 40, we would LOVE to have you attend and there are a few tickets still remaining. E-mail Thea at thea@Welcome2Indy.com and she will get you registered.
Kylie has been focused on getting her kiddos back in school over the past couple of weeks. Trey is a freshman at Carmel High School. That is always a significant transition from elementary school, but he is doing well. Jax is starting kindergarten this year, which is also a huge transition and he has been so excited!! On top of this, Kylie organized our first Broker Progressive Open House for a builder we represent, Olthof Homes and she just knocked it out of the park!
We hope you were able to make our Party in The Park a couple of weeks ago. We had a great time with some amazing live music courtesy of The Beatless, Kona Ice truck, photo booth, caricature artist, magician, and games, food, and drink. If you missed it, we hope to see you at an upcoming event soon!!
Speaking of upcoming events, join us for our Happy Hours! They are always the 3rd Thursday of each month from 5-6:30pm at Matt The Miller’s in Carmel. Food and drinks are always on us! Thank you to our sponsor last month Jonathan Walla with Walla Painting. They are our go-to painter for not only all of our clients, but also personally. They do an amazing job, are trustworthy and very competitive on price. If you are considering a painting job soon, give Jonathan a call at 317-999-8124. Tell him I sent you. Join us for our next Happy Hour on Thursday, September 15th. RSVP to events@Welcome2Indy.com by September 13th.
Thea and I are hosting virtual Buyer and Seller Workshops monthly. If you or someone you know is thinking of buying, selling, or building in the next year, please join us. We will be talking about what the process looks like, the most common mistakes we see people make and how to avoid them and answer any questions you have. This is a laid-back, conversational hour of learning. Steve’s next Seller Workshop is at 7pm on September 13th and Thea’s next Buyer Workshop is at 5:30pm on September 28th. RSVP via the Eventbrite link you should have received or just e-mail us and we will get you signed up. steve@Welcome2Indy.com or thea@Welcome2Indy.com
Based on the feedback, we know you want an all-expense paid vacation!!! Our next $5,000 vacation giveaway is coming up in 2-weeks!! Call us from 11:30AM-5:30pm on Tuesday, September 13th and we will get you registered for the $5,000. If you give us a referral, we will add 5 entries PER REFERRAL! The phone number to call is 317-975-1511. We hope to hear from you!
There has been a LOT of talk lately about the economy and especially real estate. Interest rates have gone up for the moment, but are still below the 40-year average of 8%. Also, housing inventory is creeping back up again and that is a welcome change from the 2-week inventory we have had for the past year! We are still only at 1-month of supply and we should be around 6 months +/-.
We are expecting mortgage interest rates to fall starting Q4 of this year as we have entered an official recession and history has shown us that interest rates have fallen in every one of the past 6 recessions. None of the economists or industry leaders I have heard believe this will be a long or deep recession and we should pull out of it by summer 2023. Time will tell if they are correct or not.
Is our market overvalued?? Recent news stories would have you believe so, however consider this-the average appreciation rate for the US over the past 40-years is ~4%. If you set a trend line of 4% over those 40-years and extend it to today, we are right where we should be! This takes into account The Great Recession as well as our recent boom. Will some markets around the US depreciate slightly?? Most likely yes. I do not believe Indianapolis will be one of them and neither do any of the economists with whom I have spoken.
This is still a great time to buy or sell. You have never been able to get as high of a price for your house as you will today. If you are a buyer, you DO have more time and inventory from which to choose. As the adage goes, Marry the house and date the rate! Want more info or info specific to YOUR situation, please e-mail me at Steve@Welcome2Indy.com.
Below are some market stats courtesy of MIBOR comparing July 2022 to June 2022:
Median Sales Price-DOWN 1.8% to $294,500
Closed Sales-DOWN 9.8% to 3,404 units
New Listings-DOWN 17.8% to 4,087 units
Pending Sales-DOWN 0.7% to 3,585 units
Days on Market-UP 28.6% to 18 days
Price per s.f.-DOWN 0.6% to $168
% of Ask Received-DOWN 1.2% to 100.7%
Active Inventory-UP 12.8% to 3,866 units
Absorption Rate-UP 22.2% to 1.1 months
Have a great Fall and we hope to see you at some of our upcoming events!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Click here to read our September newsletter
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