From our family to yours, we hope you have enjoyed the holidays and are looking forward to a prosperous 2024! 2023 has been a, shall we say, different year? From lots of politics in the news, to conflicts around the world, to several-decade high interest rates and inflation, to trying to stave off a recession…and all of this on the heels of the COVID pandemic; we have had a LOT of distractions and things to worry about.
We truly hope that 2024 will be a little less crazy, even though we have a presidential election to contend with, which will certainly prove to be entertaining.
The holidays for our family have been fairly quiet with hosting Steve’s family on Christmas Eve and then to Brigid’s family on Christmas evening. It has been nice to stay at home and not have to travel and just enjoy some quiet time together, especially since this is Ana’s first time home for Christmas being a college student. The family just feels complete when she is home.
Thea went back home to Cleveland to spend time with her family and Michael’s for their son Parks’ first Christmas. They have enjoyed being around family for this special first Christmas.
Kylie has enjoyed being able to take the last 10-days of the year off to spend time with her family in Carmel. She puts a lot of time in during the year and we are happy to see her able to enjoy a much-deserved vacation.
The end of the year brings endings and new beginnings. For me, that means officially finishing my term as Chairman of The Board of Directors of the Westfield Chamber of Commerce. That is a bittersweet transition as it will add a lot more time into my schedule, but I will miss leading the work we have done. I will still enjoy being part of the board and exec team as Immediate Past Chair, but happy to turn the reins over to my successor. I will continue to serve MIBOR on the Professional Standards Committee, which hears cases relating to potential violations of the Code of Ethics. This has been an extremely educational experience for me these past couple of years serving on that and the 3 prior years serving on the Grievance Committee. I am also serving as one of a few Mediators for MIBOR. We mediate commission disputes between members and strive to find some common ground between the parties before the case gets elevated to Arbitration. This is also extremely gratifying as we provide a hopefully more equitable experience for the parties involved.
The real estate market has been wonky to say the least. Statistically, we are in a strong sellers’ market with only 2 months of inventory, however due to the ‘high’ interest rates and high cost of housing (it is the highest on record-even higher than it was in the 1980s when interest rates peaked at 18.3%!), coupled with the artificially low mortgage interest rates we saw over the past few years, people aren’t wanting to sell and buyers are reluctant to buy. Additionally, millennials who make up the majority of the first-time buyers are more mobile than prior generations and are choosing to rent much longer that prior generations. The average age of a first-time homebuyer today is 38-years old-a full 10-years older that the decade before! Their net worth is being negatively impacted as data shows the average net worth of a renter is $10,000 (down $12,000 in the past decade) and that of a homeowner is $398,700 (almost double in the past decade)! Bottom line, the faster you become a homeowner and start paying yourself and allowing appreciation and debt pay down to build your net worth (not to mention the tax advantages), the faster you will be on your way to financial security. Housing prices are only predicted to increase into the foreseeable future as there will be no silver bullet to our housing shortage. In fact, in any 10-year period, housing has always gone up (even including the recession of 2008-2012).
If you would like to learn more about buying, selling, or building as it relates to your specific situation, please e-mail Steve@Welcome2Indy.com.
Finally, our first Happy Hour of 2024 will be on Thursday, January 18th from 5-6:30pm at Matt The Miller’s in Carmel. Rhoda Israelov with Say It for You will be co-sponsoring this month. We are looking for someone who would like to co-sponsor with her. Send Steve an e-mail if you are interested! Great opportunity to reach hundreds of people for half the price of a usual sponsorship!
Here are the stats from MIBOR comparing October 2023 to November 2023:
Median Sales Price-no change-$289,950
Closed Sales-DOWN 4.5% to 2,200 units
New Listings-DOWN 23.3% to 2,202 units
Pending Sales-DOWN 10.3% to 2,008 units
Median Days on Market-UP 46.7% to 22 days
Average Days on Market-UP 14.0% to 41 days
Price per s.f.-no change-$151
% of List Price Received-DOWN 0.7% to 97.5%
Active Inventory-DOWN 11.0% to 4,497 units
Months Supply of Inventory-DOWN 6.7% to 2.0 months
Keep in mind that this is these are typically the slowest months of the year and seeing slowdown in stats is not unusual. Pay attention to the slowdown in new listings as that will impact the new year as well as pending sales. Houses are staying on the market longer and getting lower sales prices. We will see if the spring market turns these trends around, as it is expected to do so.
Happy New Year!!
Click here to read our Janaury newsletter.
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Tuesday, December 26, 2023
Sunday, November 26, 2023
December 2023 Newsletter
Happy Holidays! It is so hard to believe they are here yet again. Where did this year go? We hope you enjoyed your Thanksgiving holiday with friends and family and were able to take some time out to reflect on all of your blessings. Our family enjoyed Thanksgiving at my sister Michelle’s house with her family as well as my parents. It was nice to not have to cook this year like in years recently past. The food was excellent and the company good, however we missed their son Caleb who was in NYC with his fiancee Candice. Yes, Caleb and Candice got engaged a bit ago and we are excited to celebrate their marriage next year.
This was our first Thanksgiving with Ana in college, so we got to have her back home for about 10-days. It was so nice seeing her again and spending some time with her. She was excited to get back to IU and see all of her friends. As a parent, you are sad to see your child leave, but happy their are happy at school and have friends to get back to see.
If you haven’t been to the Carmel Christkindlmarkt, I highly recommend it! Every year it gets better and is rated as the #1 Christmas market in the US for the past 3-years. We also saw Lindenhouse aka Christel de Haan’s house aka Restoration Hardware aka RH. It was amazing!!! 42,000 s.f. of space including a restaurant and a wine/coffee bar so you can walk around the house with your favorite beverage! It is something to behold. Trust me, you do not want to skip this. Simply stunning! I posted some photos on my FB and IG feed, if you would like a sneak peek. @zulugroup
A HUGE shoutout to Kylie and Thea for all of their help making our busiest month for client events a success! Kylie was able to relax at home this holiday with her family and spend time with her parents and sister. Thea headed back home to Cleveland to spend time with her family and her son Parks’ first Thanksgiving.
Thank you to all of our clients and referral partners who attended our final Happy Hour of the year! Thank you, especially to our sponsor Chris Odle with JLK Financial for sponsoring! If you would like to sponsor a Happy Hour for 2024, please e-mail Kylie@Welcome2Indy.com. Sponsors allow us to keep hosting these for you each month. If you haven’t attended one, please stop by. They are usually held on the 3rd Thursday of each month from 5-6:30pm at Matt The Miller’s in Carmel. FREE food and drinks!
We also had our annual Photos with Santa right before Thanksgiving and had a great turnout! Hope you enjoyed the professional photos with your family!
Finally, we enjoyed seeing almost 100 of our clients and referral partners at our annual Thanksgiving Pie Pick-up the Tuesday before Thanksgiving. This is our favorite day of the year as we get to see so many clients and catch up briefly on your lives and families.
November is such a busy month for us and we absolutely love seeing so many clients and saying thank you for inviting us into your families and to be such a big part of your lives. We are blessed and honored to do something we love and to work almost exclusively by referral and repeat clients. Thank you for recommending us to so many of your friends and family so we can remained focused on helping people and not ‘dialing for dollars’.
Speaking of business, this year has been nothing but weird. We are in one of the lowest inventory markets in history, but also one of the most expensive. Interest rates are coming down and are off their highs of around 8.25% and are around 7.25% and are projected to continue to come down into the 6% range next year. If interest rates dip under 6%, as they are projected to do, we are expecting a circus in the real estate market. We expect to see multiple offer situations again, and if you believe Barbara Corcoran and many other economists, the real estate market is expected to appreciate 10-15% next year. Time will tell.
What we do know is that things are really weird right now and no one has a clear crystal ball. If you or someone you care about is thinking of selling in 2024, e-mail steve@Welcome2Indy.com. I would be happy to dive deep into your property and give you tips and inside tips to maximize the value of your house and show you why our listings sell 10% faster and for 7.91% MORE than the industry average. Not only does this cover our professional services fee, but we also have a full Concierge Program to make getting ready to sell as smooth and easy as possible (and we pay for most of the services we recommend!) E-mail me to learn more!
Here are the MIBOR stats comparing September 2023 to October 2023 for all 16 counties MIBOR tracks:
Median Sales Price-$290,000-DOWN 3.3%
Closed Sales-2,276 units-DOWN 9.7%
New Listings-2,851 units-DOWN 7.5%
Pending Sales-2,401 units-UP 6.9%
Median Days on Market-15 days-no change
Average Days on Market-36 days-DOWN 5.4%
Price per s.f.-$151-DOWN 1.9%
% of List Price Received-98.2%-DOWN 0.3%
Active Inventory-4,635 units-DOWN 5.0%
Months Supply of Inventory-2.0 months-UP 5.1%
As you can see, the market has softened in some areas, however pending sales is going up, which should translate into more closed sales next month. We are seeing that although we are in a strong sellers’ market, in reality we are in a buyers’ market, in most cases. It is essential to properly prepare your house for sale and buyers expect houses to be in ‘HGTV, market-ready condition’ when they hit the market. If not, the house will sit and/or you will get ‘low-ball’ offers. We have seen this time and again recently.
We hope you enjoy the final newsletter of 2023. Click here to read our Decdember newsletter. It is full of fun holiday stories, trivia, and recipes. Let us know what you think!
From our family to yours, we wish you a very happy holiday season.
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret
This was our first Thanksgiving with Ana in college, so we got to have her back home for about 10-days. It was so nice seeing her again and spending some time with her. She was excited to get back to IU and see all of her friends. As a parent, you are sad to see your child leave, but happy their are happy at school and have friends to get back to see.
If you haven’t been to the Carmel Christkindlmarkt, I highly recommend it! Every year it gets better and is rated as the #1 Christmas market in the US for the past 3-years. We also saw Lindenhouse aka Christel de Haan’s house aka Restoration Hardware aka RH. It was amazing!!! 42,000 s.f. of space including a restaurant and a wine/coffee bar so you can walk around the house with your favorite beverage! It is something to behold. Trust me, you do not want to skip this. Simply stunning! I posted some photos on my FB and IG feed, if you would like a sneak peek. @zulugroup
A HUGE shoutout to Kylie and Thea for all of their help making our busiest month for client events a success! Kylie was able to relax at home this holiday with her family and spend time with her parents and sister. Thea headed back home to Cleveland to spend time with her family and her son Parks’ first Thanksgiving.
Thank you to all of our clients and referral partners who attended our final Happy Hour of the year! Thank you, especially to our sponsor Chris Odle with JLK Financial for sponsoring! If you would like to sponsor a Happy Hour for 2024, please e-mail Kylie@Welcome2Indy.com. Sponsors allow us to keep hosting these for you each month. If you haven’t attended one, please stop by. They are usually held on the 3rd Thursday of each month from 5-6:30pm at Matt The Miller’s in Carmel. FREE food and drinks!
We also had our annual Photos with Santa right before Thanksgiving and had a great turnout! Hope you enjoyed the professional photos with your family!
Finally, we enjoyed seeing almost 100 of our clients and referral partners at our annual Thanksgiving Pie Pick-up the Tuesday before Thanksgiving. This is our favorite day of the year as we get to see so many clients and catch up briefly on your lives and families.
November is such a busy month for us and we absolutely love seeing so many clients and saying thank you for inviting us into your families and to be such a big part of your lives. We are blessed and honored to do something we love and to work almost exclusively by referral and repeat clients. Thank you for recommending us to so many of your friends and family so we can remained focused on helping people and not ‘dialing for dollars’.
Speaking of business, this year has been nothing but weird. We are in one of the lowest inventory markets in history, but also one of the most expensive. Interest rates are coming down and are off their highs of around 8.25% and are around 7.25% and are projected to continue to come down into the 6% range next year. If interest rates dip under 6%, as they are projected to do, we are expecting a circus in the real estate market. We expect to see multiple offer situations again, and if you believe Barbara Corcoran and many other economists, the real estate market is expected to appreciate 10-15% next year. Time will tell.
What we do know is that things are really weird right now and no one has a clear crystal ball. If you or someone you care about is thinking of selling in 2024, e-mail steve@Welcome2Indy.com. I would be happy to dive deep into your property and give you tips and inside tips to maximize the value of your house and show you why our listings sell 10% faster and for 7.91% MORE than the industry average. Not only does this cover our professional services fee, but we also have a full Concierge Program to make getting ready to sell as smooth and easy as possible (and we pay for most of the services we recommend!) E-mail me to learn more!
Here are the MIBOR stats comparing September 2023 to October 2023 for all 16 counties MIBOR tracks:
Median Sales Price-$290,000-DOWN 3.3%
Closed Sales-2,276 units-DOWN 9.7%
New Listings-2,851 units-DOWN 7.5%
Pending Sales-2,401 units-UP 6.9%
Median Days on Market-15 days-no change
Average Days on Market-36 days-DOWN 5.4%
Price per s.f.-$151-DOWN 1.9%
% of List Price Received-98.2%-DOWN 0.3%
Active Inventory-4,635 units-DOWN 5.0%
Months Supply of Inventory-2.0 months-UP 5.1%
As you can see, the market has softened in some areas, however pending sales is going up, which should translate into more closed sales next month. We are seeing that although we are in a strong sellers’ market, in reality we are in a buyers’ market, in most cases. It is essential to properly prepare your house for sale and buyers expect houses to be in ‘HGTV, market-ready condition’ when they hit the market. If not, the house will sit and/or you will get ‘low-ball’ offers. We have seen this time and again recently.
We hope you enjoy the final newsletter of 2023. Click here to read our Decdember newsletter. It is full of fun holiday stories, trivia, and recipes. Let us know what you think!
From our family to yours, we wish you a very happy holiday season.
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret
Monday, October 23, 2023
November 2023 Newsletter
Happy Thanksgiving!! Can you believe we are almost to the holidays already? It seems like summer was just here and so were the warmer temperatures and longer daylight. We hope that you are enjoying, what is for many people their favorite season of the year. Mine? I love fall, however my favorite season is spring. Specifically, mid-May. You see, you have the buzz around the Speedway, the fresh smell of spring in the air, daylight hours are continuing to get longer, school is almost out and the kids are excited and the entire summer (and usually a nice vacation) is ahead of us. Whatever season is your favorite, we hope you will enjoy this fall weather and the beautiful colors all around us.
Lots of info this month, so grab a cup of coffee and sit back and relax.
First of all, as you know Thea and Michael had their first baby Parks in May. Thea has been a valuable member of our team for over 4.5 years and has been our Senior Buyer Specialist for that entire time. She has gone from never selling a house to a well-respected expert to her clients and other agents. After a long reflection period, Thea has decided to spend more time with Parks and will be taking a step back from her current role on the team. She will stay on the team in a consultative role and will train her replacement. While Thea is not leaving the team, we will miss seeing her daily, but know motherhood is calling and she is where she needs to be.
So, who do you know who is looking to partner with a well-respected real estate team with over 50-years of experience, is in the top 1% of agents in Indy, and has systems and processes in place along with a formal training program to ensure success? Who is the first person who comes to mind? Have them send me an e-mail to steve@Welcome2Indy.com or call me at 317-339-7698. We would love to fill this role by the end of the year.
We hope you received your Annual Thanksgiving Pie postcard and were able to reserve your favorite flavor-apple or pumpkin. If you haven’t done so already, reserve your pie by following this link: https://www.signupgenius.com/go/10C094CAAAE2CA57-44975663-kwindy#/ Pick up is at our office on Tuesday, November 21st from 11am-6pm. We hope to see you!
Another annual client favorite is our Photos with Santa. Mark your calendars for Saturday, November 18th from 11am-4pm at our office. We will have 2 rooms this year. One will have Santa and the other a non-Santa winter wonderland theme. Reservations are required and space is very limited already, so if you haven’t signed up, please do so TODAY. Everyone will be given a specific time to avoid the large crowds experienced last year. Follow this link to sign up for a slot: https://www.signupgenius.com/go/10C094CAAAE2CA57-44975663-kwindy#/
Our final Happy Hour of the year is Thursday, November 16th from 5-6:30pm at Matt The Miller’s. Chris Odle with JLK Financial is our sponsor. Chris is a longtime friend and client and he knows his stuff. Come and meet him and celebrate the holidays with us for our final Happy Hour of 2023. Thank you to Walla Painting for sponsoring October!
Who do you know who is thinking of selling in the next 12-months? Have them contact me at steve@Welcome2Indy.com to register for our next Seller Workshop where were will talk about what you need to do to prepare your house for sale in this crazy market in order to sell 23% FASTER and for 7.91% MORE than the average listing. It is Zoom only on Tuesday, November 14th from 5:30-6:30pm.
As for an update on our family, Ana is still enjoying IU. We have seen her quite a bit between coming home for a couple of breaks to seeing her for home football games. She is learning about time-management and how to deal with teaching assistants who aren’t good teachers or speak English very well. She has made lots of friends and is enjoying her time in Bloomington.
Tali is at the end of her school cheer season and as I write this State Finals is just a few days away. She has enjoyed cheering for the football games as well as for the sideline cheer team and competition cheer team at cheer comps. Next up starting November 11th is her ICE cheer season opener at South Bend. Cheer is a year-round sport!
Brigid, Tali and I returned from Fall Break down in Tampa visiting Brigid’s parents in their new house. It was very relaxing in their resort-like community and we essentially had the pool and clubhouse to ourselves.
The real estate market has been in the news a LOT recently, and for good reason. With the record-high housing prices and decades-high mortgage interest rates, home affordability has been at the lowest level in a long time. With that said, inventory is still extremely low at 1.8 months for the Indy metro area and 1.3 months in Hamilton County. Mortgage interest rate relief is sorely needed and unlikely to come in the short-term. For people wanting to sell, demand is still there, but there are qualifications to this such as location, condition, and price point…all making a huge impact as to whether the house will sell quickly or sit on the market for several weeks. Bottom line, if you or someone you know is thinking of selling in the next year, give me a call-317-339-7698. I am happy to talk specifics about your unique situation so you can make an informed decision.
Here are the latest market stats for all of the MIBOR service area (17 counties) from August 2023 to September 2023:
Median Sales Price-$299,045-DOWN 0.3%
Closed Sales-2,482 units-DOWN 12.6%
New Listings-3,071 units-DOWN 9.3%
Pending Sales-2,427 units-DOWN 5.8%
Median Days on Market-14 days-UP 40.0%
Average Days on Market-38 days-UP 23.6%
Price per s.f.-$154-DOWN 0.6%
% of List Price Received-98.5%-DOWN 0.3%
Active Inventory-4,454 units-DOWN 0.3%
Months Supply of Inventory-1.8 months-UP 14.1%
As you can see, inventory is going up and so is days on market showing the market softening, but activity is down. Bottom line, we need more inventory!
We hope you enjoy this month’s edition of the fall newsletter where you will find:
Honest Fun
Helpful Tips For Traveling During The Holidays
Savory Pumpkin And Cranberry Chutney
November Roundup
Quick Tips For Smartphone Bliss
Creative Household Hacks
Exercise Boosts Heart Health Regardless Of Weight Loss
Book Club, Anyone?
Click here to read the November Newsletter. Enjoy!!
Happy Thanksgiving!
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Lots of info this month, so grab a cup of coffee and sit back and relax.
First of all, as you know Thea and Michael had their first baby Parks in May. Thea has been a valuable member of our team for over 4.5 years and has been our Senior Buyer Specialist for that entire time. She has gone from never selling a house to a well-respected expert to her clients and other agents. After a long reflection period, Thea has decided to spend more time with Parks and will be taking a step back from her current role on the team. She will stay on the team in a consultative role and will train her replacement. While Thea is not leaving the team, we will miss seeing her daily, but know motherhood is calling and she is where she needs to be.
So, who do you know who is looking to partner with a well-respected real estate team with over 50-years of experience, is in the top 1% of agents in Indy, and has systems and processes in place along with a formal training program to ensure success? Who is the first person who comes to mind? Have them send me an e-mail to steve@Welcome2Indy.com or call me at 317-339-7698. We would love to fill this role by the end of the year.
We hope you received your Annual Thanksgiving Pie postcard and were able to reserve your favorite flavor-apple or pumpkin. If you haven’t done so already, reserve your pie by following this link: https://www.signupgenius.com/go/10C094CAAAE2CA57-44975663-kwindy#/ Pick up is at our office on Tuesday, November 21st from 11am-6pm. We hope to see you!
Another annual client favorite is our Photos with Santa. Mark your calendars for Saturday, November 18th from 11am-4pm at our office. We will have 2 rooms this year. One will have Santa and the other a non-Santa winter wonderland theme. Reservations are required and space is very limited already, so if you haven’t signed up, please do so TODAY. Everyone will be given a specific time to avoid the large crowds experienced last year. Follow this link to sign up for a slot: https://www.signupgenius.com/go/10C094CAAAE2CA57-44975663-kwindy#/
Our final Happy Hour of the year is Thursday, November 16th from 5-6:30pm at Matt The Miller’s. Chris Odle with JLK Financial is our sponsor. Chris is a longtime friend and client and he knows his stuff. Come and meet him and celebrate the holidays with us for our final Happy Hour of 2023. Thank you to Walla Painting for sponsoring October!
Who do you know who is thinking of selling in the next 12-months? Have them contact me at steve@Welcome2Indy.com to register for our next Seller Workshop where were will talk about what you need to do to prepare your house for sale in this crazy market in order to sell 23% FASTER and for 7.91% MORE than the average listing. It is Zoom only on Tuesday, November 14th from 5:30-6:30pm.
As for an update on our family, Ana is still enjoying IU. We have seen her quite a bit between coming home for a couple of breaks to seeing her for home football games. She is learning about time-management and how to deal with teaching assistants who aren’t good teachers or speak English very well. She has made lots of friends and is enjoying her time in Bloomington.
Tali is at the end of her school cheer season and as I write this State Finals is just a few days away. She has enjoyed cheering for the football games as well as for the sideline cheer team and competition cheer team at cheer comps. Next up starting November 11th is her ICE cheer season opener at South Bend. Cheer is a year-round sport!
Brigid, Tali and I returned from Fall Break down in Tampa visiting Brigid’s parents in their new house. It was very relaxing in their resort-like community and we essentially had the pool and clubhouse to ourselves.
The real estate market has been in the news a LOT recently, and for good reason. With the record-high housing prices and decades-high mortgage interest rates, home affordability has been at the lowest level in a long time. With that said, inventory is still extremely low at 1.8 months for the Indy metro area and 1.3 months in Hamilton County. Mortgage interest rate relief is sorely needed and unlikely to come in the short-term. For people wanting to sell, demand is still there, but there are qualifications to this such as location, condition, and price point…all making a huge impact as to whether the house will sell quickly or sit on the market for several weeks. Bottom line, if you or someone you know is thinking of selling in the next year, give me a call-317-339-7698. I am happy to talk specifics about your unique situation so you can make an informed decision.
Here are the latest market stats for all of the MIBOR service area (17 counties) from August 2023 to September 2023:
Median Sales Price-$299,045-DOWN 0.3%
Closed Sales-2,482 units-DOWN 12.6%
New Listings-3,071 units-DOWN 9.3%
Pending Sales-2,427 units-DOWN 5.8%
Median Days on Market-14 days-UP 40.0%
Average Days on Market-38 days-UP 23.6%
Price per s.f.-$154-DOWN 0.6%
% of List Price Received-98.5%-DOWN 0.3%
Active Inventory-4,454 units-DOWN 0.3%
Months Supply of Inventory-1.8 months-UP 14.1%
As you can see, inventory is going up and so is days on market showing the market softening, but activity is down. Bottom line, we need more inventory!
We hope you enjoy this month’s edition of the fall newsletter where you will find:
Honest Fun
Helpful Tips For Traveling During The Holidays
Savory Pumpkin And Cranberry Chutney
November Roundup
Quick Tips For Smartphone Bliss
Creative Household Hacks
Exercise Boosts Heart Health Regardless Of Weight Loss
Book Club, Anyone?
Click here to read the November Newsletter. Enjoy!!
Happy Thanksgiving!
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Wednesday, October 04, 2023
October 2023 Newsletter
Welcome to October and Fall! Whether you love or hate pumpkin spice everything, Fall is filled with festivals, activities, beautiful colors and crisp air. We hope you will take some time to enjoy what Fall has to offer.
For our family, it means football and cheer!!! We have been big Notre Dame fans since birth, so we always follow our Irish, who are actually playing pretty well this year, except for that heartbreaking loss to Ohio State. We also have been attending some IU football games since Ana is a freshman at IU this year and have enjoyed those as well. coming from a tradition of only seeing a Notre Dame football game live, going to an IU football game is an entirely different experience! The tailgating is the main event, not the game itself, which is so foreign to us. They are still fun to watch and we love seeing Ana while we are there, if only for a brief while.
Speaking of Ana, she is doing very well in her first year at IU. She is getting accustomed to college life, classes, ‘adulting’, and of course the social scene. We are very proud of her and loved seeing her when she came home for the first time a couple of weeks ago.
Tali is doing great in 8th grade. Her school cheer season for football ends this week with their final home game. Her competition season for school ends at the end of October with State. Fingers crossed for a good finish! They finished 2nd last year and are hoping for 1st this year. Her ICE All-Star cheer team has been practicing all summer and fall and is gearing up for the start of their season at the beginning of November. We love traveling with the other families and getting away for a night.
Brigid is doing great at work and still travels to Philly about once/month for a few days for meetings. She still loves working from home and managing her team.
Jack and Mary Anne just finished a long, almost 3-week trip to see family in down south and are glad to be home. They have been able to see Tali cheer, which is great!
Kylie was off for about 2 1/2 weeks as she took care of her son Jackson who had back surgery. He is recovering well and is already back at school!! It is amazing how quickly kids heal!! We are so happy he is doing well and that Kylie is back with us again.
Thea is doing great with Parks and her husband Michael is enjoying paternity leave to spend time with him. Thea is able to work from home and spend quality time with him as well as help our buyer clients.
Thank you to Jeff Lazar with Lazar Insurance for sponsoring our September Happy Hour!!! We enjoyed seeing friends and clients and hope you will join us for the 2nd Thursday this month due to Fall Break the following week.
Please join us for Happy Hour on October 12th this month from 5-6:30pm at Matt The Miller’s. Note the date. Jonathan Walla with Walla Painting is sponsoring this month. He is our go-to painter for all of our clients and our personal needs.
Be on the lookout for our Save The Date card for our Thanksgiving Pie Pickup again this year, which will be on Tuesday, November 21st. Look for our annual Photos with Santa info on the post card as well. We hope to see you there!!!
The real estate market has been absolutely bonkers lately! As of this writing, 30-year mortgage interest rates hit 7.75%, which is the highest in decades. Homes prices have hit their highest ever recorded, making housing affordability the lowest ever. The bright side is that mortgage interest rates are tied to inflation. While it hasn’t continued to tick downward as quickly as we would like, we are optimistic it will continue downward and mortgage interest rates will follow. Keep a keen eye on this as interest rates go down, buyer activity will pick up and sellers will start putting their houses on the market. We are bracing for another circus in the real estate market when mortgage rates dip below 6%. The question is when??
Builders are making up for low inventory, which is sitting at 1.4 months right now in Indy. A balanced market is 6-months. This is keeping prices high. If you are thinking about buying, this would not be a bad time to do so as there isn’t as much competition and we are not expecting housing prices to retreat for the foreseeable future. The key is locking in your housing price now, so you can take advantage of the appreciation down the road and build wealth. There are some good tools out there such as 2/1 buy downs, that can make the mortgage payment more affordable and then you re-finance when rates go back down. Rates are not expected to go below 5% again in our lifetimes!
We have fielded LOTS of questions from clients, so feel free to call and we will happily share info so you can make an informed decision.
Below is an updated list of market stats from MIBOR and its 17-county service area from July 2023 to August 2023:
Median Sales Price-$300,000-no change
Closed Sales-2,790 units-UP 0.8%
New Listings-3,354 units-UP 5.7%
Pending Sales-2,789 units-UP 3.7%
Median Days on Market-10 days-UP 11.1%
Average Days on Market-30 days-DOWN 4.8%
Price per s.f.-$155-no change
% of List Price Received-98.8%-DOWN 0.3%
Active Inventory-3,976 units-DOWN 2.1%
Months Supply of Inventory-1.4 months-DOWN 2.9%
We hope you have a wonderful Fall!! Enjoy this month’s edition of the newsletter, which includes some fun stories including an elephant on a rope, some funny jokes, computer stretches, and a doorbell for a fish!
Enjoy!! Click here to read our October newsletter.
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
For our family, it means football and cheer!!! We have been big Notre Dame fans since birth, so we always follow our Irish, who are actually playing pretty well this year, except for that heartbreaking loss to Ohio State. We also have been attending some IU football games since Ana is a freshman at IU this year and have enjoyed those as well. coming from a tradition of only seeing a Notre Dame football game live, going to an IU football game is an entirely different experience! The tailgating is the main event, not the game itself, which is so foreign to us. They are still fun to watch and we love seeing Ana while we are there, if only for a brief while.
Speaking of Ana, she is doing very well in her first year at IU. She is getting accustomed to college life, classes, ‘adulting’, and of course the social scene. We are very proud of her and loved seeing her when she came home for the first time a couple of weeks ago.
Tali is doing great in 8th grade. Her school cheer season for football ends this week with their final home game. Her competition season for school ends at the end of October with State. Fingers crossed for a good finish! They finished 2nd last year and are hoping for 1st this year. Her ICE All-Star cheer team has been practicing all summer and fall and is gearing up for the start of their season at the beginning of November. We love traveling with the other families and getting away for a night.
Brigid is doing great at work and still travels to Philly about once/month for a few days for meetings. She still loves working from home and managing her team.
Jack and Mary Anne just finished a long, almost 3-week trip to see family in down south and are glad to be home. They have been able to see Tali cheer, which is great!
Kylie was off for about 2 1/2 weeks as she took care of her son Jackson who had back surgery. He is recovering well and is already back at school!! It is amazing how quickly kids heal!! We are so happy he is doing well and that Kylie is back with us again.
Thea is doing great with Parks and her husband Michael is enjoying paternity leave to spend time with him. Thea is able to work from home and spend quality time with him as well as help our buyer clients.
Thank you to Jeff Lazar with Lazar Insurance for sponsoring our September Happy Hour!!! We enjoyed seeing friends and clients and hope you will join us for the 2nd Thursday this month due to Fall Break the following week.
Please join us for Happy Hour on October 12th this month from 5-6:30pm at Matt The Miller’s. Note the date. Jonathan Walla with Walla Painting is sponsoring this month. He is our go-to painter for all of our clients and our personal needs.
Be on the lookout for our Save The Date card for our Thanksgiving Pie Pickup again this year, which will be on Tuesday, November 21st. Look for our annual Photos with Santa info on the post card as well. We hope to see you there!!!
The real estate market has been absolutely bonkers lately! As of this writing, 30-year mortgage interest rates hit 7.75%, which is the highest in decades. Homes prices have hit their highest ever recorded, making housing affordability the lowest ever. The bright side is that mortgage interest rates are tied to inflation. While it hasn’t continued to tick downward as quickly as we would like, we are optimistic it will continue downward and mortgage interest rates will follow. Keep a keen eye on this as interest rates go down, buyer activity will pick up and sellers will start putting their houses on the market. We are bracing for another circus in the real estate market when mortgage rates dip below 6%. The question is when??
Builders are making up for low inventory, which is sitting at 1.4 months right now in Indy. A balanced market is 6-months. This is keeping prices high. If you are thinking about buying, this would not be a bad time to do so as there isn’t as much competition and we are not expecting housing prices to retreat for the foreseeable future. The key is locking in your housing price now, so you can take advantage of the appreciation down the road and build wealth. There are some good tools out there such as 2/1 buy downs, that can make the mortgage payment more affordable and then you re-finance when rates go back down. Rates are not expected to go below 5% again in our lifetimes!
We have fielded LOTS of questions from clients, so feel free to call and we will happily share info so you can make an informed decision.
Below is an updated list of market stats from MIBOR and its 17-county service area from July 2023 to August 2023:
Median Sales Price-$300,000-no change
Closed Sales-2,790 units-UP 0.8%
New Listings-3,354 units-UP 5.7%
Pending Sales-2,789 units-UP 3.7%
Median Days on Market-10 days-UP 11.1%
Average Days on Market-30 days-DOWN 4.8%
Price per s.f.-$155-no change
% of List Price Received-98.8%-DOWN 0.3%
Active Inventory-3,976 units-DOWN 2.1%
Months Supply of Inventory-1.4 months-DOWN 2.9%
We hope you have a wonderful Fall!! Enjoy this month’s edition of the newsletter, which includes some fun stories including an elephant on a rope, some funny jokes, computer stretches, and a doorbell for a fish!
Enjoy!! Click here to read our October newsletter.
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Sunday, August 20, 2023
September 2023 Newsletter
Welcome to September!! We hope you had a great summer and were able to create some fun summer memories. It is hard to believe kids are back in school and football is back in action. If you are local, were you able to make it to Colts Camp at Grand Park in Westfield? If not, you are missing out. It is absolutely FREE and there are so many fun games and events in Colts City as well as watching practice and getting autographs from your favorite players.
Some big news for our team is that Thea is back with us and we couldn’t be more excited!!! She enjoyed her maternity leave with Parks and has hit the ground running to help our buyers finish the year strong. She would love to hear from you, so give her a call/text at 440-862-1118. Parks and Thea are both doing great and Thea’s husband Michael is able to take several weeks of paternity leave to spend with Parks now.
Our oldest Ana is now at IU Bloomington as a Direct Admit to Kelley School of Business. We dropped her off for her Freshman year on August 13th and got her all moved into her dorm (Spruce, for those familiar with campus). That was not easy. While we have worked hard to teach her the skills she needs to know in order to be successful, you never stop wondering if it is enough. We are excited to see what the future holds for her!!
Tali, our youngest misses her big sister, however they talk/snap every day and that makes us happy. Tali has started her 8th grade year at Westfield Middle School and is cheering at the football games. Competition season for school cheer starts soon and she has been practicing for that quite as bit as she is on the sideline cheer team as well as the competition cheer team. She also cheers for ICE gym where she is defending her team’s world championship last year. She has also been asked to be on a 2nd ICE cheer team to help them. To say she is busy, would be an understatement!!!
Brigid and I celebrated our birthdays at the beginning of August and our 20th Wedding Anniversary on August 16th. We decided to check off a box that has been on our bucket list for many years and take an Alaskan cruise at the end of August. We are so excited and can’t wait to see the amazing scenery!!
Kylie’s kids are both back in school and her oldest is learning to drive. That is always nerve-wracking!! He is also helping his dad with some construction projects and learning the trades, which is awesome!!
Thank you to everyone who attended our Seller Workshop and Buyer Workshop last month!! If you know of someone thinking about buying or selling, encourage them to jump on our Zoom call. We will go over everything they need to know and answer all of their questions so they feel more comfortable about the process and what to expect. The next Seller Workshop is on September 12th at 5:30pm and the next Buyer Workshop is on September 27th at 5:30pm. Register for either by e-mailing Kylie@Welcome2Indy.com. Thank you to everyone who attended our August Happy Hour at Matt The Miller’s!! We had a great time and enjoyed seeing everyone. Please join us for our September Happy Hour from 5-6:30pm on Thursday, September 21st at Matt The Miller’s. E-mail kylie@Welcome2Indy.com to register.
Our real estate market has been very strange lately. We still have select houses that are selling in hours WAY above asking price with multiple offers while other houses sit for weeks with limited activity. Location, condition, and price point dictate which bucket these houses fall into.
Mortgage interest rates have continued to climb, but are expected to fall to around 6% or under by end of this year or beginning of next. What does this mean for you or someone you care about looking to get into the real estate market? While no one can predict with certainty what the future holds, most economists are pretty confident that as soon as rates get below 6%, a slew of sellers will put their houses on the market and even more buyers will enter the market making for a crazy spring 2024 market. If you or someone you know is considering getting into the real estate market, give us a call about timing. There are pros and cons for waiting.
Check out the market stats courtesy of MIBOR and their 16 county members comparing July 2023 to June 2023:
Median Sales Price-$300,000-no change
Closed Sales-2,731 units-DOWN 9.9%
New Listings-3,153 units-DOWN 13.3%
Pending Sales-2,857 units-DOWN 1.1%
Median Days on Market-9 days-UP 28.6%
Average Days on Market-32 days-UP 0.4%
Price per s.f.-$155-no change
% of List Price Received-99.2%-DOWN 0.3%
Active Inventory-3,652 units-DOWN 7.6%
Months Supply of Inventory-1.3 months-no change
As you can see, lack of inventory continues to plague the real estate market and we need inventory badly. New construction is helping and is double the historical percentage of the overall market at 30%! Call me today at 317-573-1880 to discuss how these stats impact your real estate plans and what strategy makes the most sense to make your dreams a reality!!
We hope you enjoy the September newsletter. Some fun articles include: the benefits of B12, watermelon pizza, the water-salt-potassium connection, and lighter hair naturally for summer.
Click here for the September newsletter
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Some big news for our team is that Thea is back with us and we couldn’t be more excited!!! She enjoyed her maternity leave with Parks and has hit the ground running to help our buyers finish the year strong. She would love to hear from you, so give her a call/text at 440-862-1118. Parks and Thea are both doing great and Thea’s husband Michael is able to take several weeks of paternity leave to spend with Parks now.
Our oldest Ana is now at IU Bloomington as a Direct Admit to Kelley School of Business. We dropped her off for her Freshman year on August 13th and got her all moved into her dorm (Spruce, for those familiar with campus). That was not easy. While we have worked hard to teach her the skills she needs to know in order to be successful, you never stop wondering if it is enough. We are excited to see what the future holds for her!!
Tali, our youngest misses her big sister, however they talk/snap every day and that makes us happy. Tali has started her 8th grade year at Westfield Middle School and is cheering at the football games. Competition season for school cheer starts soon and she has been practicing for that quite as bit as she is on the sideline cheer team as well as the competition cheer team. She also cheers for ICE gym where she is defending her team’s world championship last year. She has also been asked to be on a 2nd ICE cheer team to help them. To say she is busy, would be an understatement!!!
Brigid and I celebrated our birthdays at the beginning of August and our 20th Wedding Anniversary on August 16th. We decided to check off a box that has been on our bucket list for many years and take an Alaskan cruise at the end of August. We are so excited and can’t wait to see the amazing scenery!!
Kylie’s kids are both back in school and her oldest is learning to drive. That is always nerve-wracking!! He is also helping his dad with some construction projects and learning the trades, which is awesome!!
Thank you to everyone who attended our Seller Workshop and Buyer Workshop last month!! If you know of someone thinking about buying or selling, encourage them to jump on our Zoom call. We will go over everything they need to know and answer all of their questions so they feel more comfortable about the process and what to expect. The next Seller Workshop is on September 12th at 5:30pm and the next Buyer Workshop is on September 27th at 5:30pm. Register for either by e-mailing Kylie@Welcome2Indy.com. Thank you to everyone who attended our August Happy Hour at Matt The Miller’s!! We had a great time and enjoyed seeing everyone. Please join us for our September Happy Hour from 5-6:30pm on Thursday, September 21st at Matt The Miller’s. E-mail kylie@Welcome2Indy.com to register.
Our real estate market has been very strange lately. We still have select houses that are selling in hours WAY above asking price with multiple offers while other houses sit for weeks with limited activity. Location, condition, and price point dictate which bucket these houses fall into.
Mortgage interest rates have continued to climb, but are expected to fall to around 6% or under by end of this year or beginning of next. What does this mean for you or someone you care about looking to get into the real estate market? While no one can predict with certainty what the future holds, most economists are pretty confident that as soon as rates get below 6%, a slew of sellers will put their houses on the market and even more buyers will enter the market making for a crazy spring 2024 market. If you or someone you know is considering getting into the real estate market, give us a call about timing. There are pros and cons for waiting.
Check out the market stats courtesy of MIBOR and their 16 county members comparing July 2023 to June 2023:
Median Sales Price-$300,000-no change
Closed Sales-2,731 units-DOWN 9.9%
New Listings-3,153 units-DOWN 13.3%
Pending Sales-2,857 units-DOWN 1.1%
Median Days on Market-9 days-UP 28.6%
Average Days on Market-32 days-UP 0.4%
Price per s.f.-$155-no change
% of List Price Received-99.2%-DOWN 0.3%
Active Inventory-3,652 units-DOWN 7.6%
Months Supply of Inventory-1.3 months-no change
As you can see, lack of inventory continues to plague the real estate market and we need inventory badly. New construction is helping and is double the historical percentage of the overall market at 30%! Call me today at 317-573-1880 to discuss how these stats impact your real estate plans and what strategy makes the most sense to make your dreams a reality!!
We hope you enjoy the September newsletter. Some fun articles include: the benefits of B12, watermelon pizza, the water-salt-potassium connection, and lighter hair naturally for summer.
Click here for the September newsletter
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Sunday, July 23, 2023
August 2023 Newsletter
Welcome to August! We hope your summer is going great and you are enjoying the warm weather and maybe some time away creating fun summer memories.
This month’s letter is very bittersweet for many reasons. Let me explain. First, THANK YOU to Helena for helping us while Thea was on maternity leave!! We have enjoyed having her as part of the team and helping with our buyers. We will miss her as she puts her license into referral status. WELCOME BACK to Thea!!! We have missed her while she and Michael have enjoyed some time with their new baby Parks born in May. Thea’s first official day back is July 24th and we are so excited for her return to the team. Parks is doing great!!
Our oldest daughter Ana heads off for her freshman year at IU Bloomington on August 13th. We are so excited for her and this next chapter in her life (and so is she!), but we are also very sad and nostalgic to not have her at home with us for the first time in 18 years. August 13th is going to be a rough day emotionally for Brigid and me. We are so proud of her and all of her hard work that has led her to this point and receiving a Direct Admission into the Kelley School of Business. We are excited she is only a 90-minute drive from us and we already purchased season tickets for IU Football and a parking pass for tailgating (which we are told is better than the football). These next 4 years will fly by!!! Fly high, Ana!!! We are so PROUD of you!!
Tali has had a great summer playing with friends and relaxing. She has gone to a couple cheer camps and starts her 8th grade school cheer season the first day of school with their first football game. Her club team ICE has been practicing all summer for their next season, which starts in November and will run through May. She is excited for this new year!
Brigid has had a couple of work trips to Philly for Merck, but mostly has been able to stay home and work from here. She really enjoys ‘summer hours’, which is from Memorial Day to Labor Day where she can work until noon on Fridays and take the rest of the day off.
Congratulations to Brigid’s parents on their 50th wedding anniversary! We celebrated it in Florida at the beginning of July and the entire family and friends went down there to enjoy a recommitment ceremony followed by dinner and dancing. It was a lot of fun! While we were there, we enjoyed 4 days of Disney where we visited all 4 of the parks. It was exhausting, but lots of fun!! I was finally able to experience Rise of The Resistance and it was absolutely fantastic!! Also, the new Tron and Guardians of The Galaxy coasters were so much fun!!!
Kylie is looking forward to presenting a class to our office on the benefits of Reiki. She is a practitioner and we have some clients she has been able to help by using it. If you ever want to learn more or schedule a FREE consult, she would be happy to talk-317-573-1818.
The real estate market has been nutty as usual these past 12-months. Inflation has come down dramatically and now sits around 3%. Mortgage rates have seen a bumpy ride over the past 12-months as well, causing lots of people to sit on the sidelines until rates come down and appreciation slows. This is very understandable. Rates ARE coming down and are expected to be below 6% by the end of 2023. Appreciation has also slowed and is hovering around 3.5-5% annually depending on location and price point. Most experts are predicting that as soon as interest rates drop below 6%, we will see a flood of sellers put their houses on the market and a flood of buyers looking for this increased inventory. This is predicted to result in faster price appreciation and more bidding wars again.
So, if you or someone you know is thinking of making a move in the next 12-months, here is my advice. Put your house on the market now. You will get a great price and one that is likely the highest you will ever have gotten. Prices will continue to rise, but that will also impact the other side of the sword, so to speak. Get into the market to buy ASAP. If getting a mortgage, get temporary financing such as a 2/1 buy down or ARM and then refinance next year when rates are lower into a more permanent financing product. Many lenders are offering streamlined re-fi programs cutting closing costs in half and closing times under 30-days. The reason it is important to buy sooner rather than later is as soon as the flood of buyers gets back into the market, as predicted by almost every expert out there, prices will go up fast and bidding wars will be commonplace again.
Thank you to everyone who attended our July Happy Hour sponsored by EcoBak. We had a great time and enjoyed meeting new people and reconnecting with old friends. Our next Happy Hour will be Thursday, August 17th from 5-6:30pm at Matt The Miller’s in Carmel. Please RSVP to Kylie@Welcome2Indy.com.
If you or someone you care about is thinking of selling in the next year or so, please register for our Seller Workshop on Tuesday, August 8th from 7-8:30pm via Zoom. We answer all of your questions, review what the market is doing and is predicted to do and how that will affect your decision. We also cover the Top 10 Dumb Mistakes Smart People Make When Listing Their House for Sale…and how to avoid them. These will put thousands of dollars back into your pocket! Register with Kylie@Welcome2Indy.com.
Thea will be hosting our next Buyer Workshop on Wednesday, August 23rd from 5:30-6:30pm via Zoom. This is a great opportunity to learn all of the changes in the home buying process and how you can best prepare to be an educated and prepared buyer to make your experience as smooth as possible. Thea will be teaching this workshop and answering any and all questions. RSVP to thea@Welcome2Indy.com
As always, here are the latest market stats from MIBOR covering the 16 counties it serves in Central Indiana comparing June 2023 to May 2023
Median Sales Price-$300,000-no change
Closed Sales-2,988 units-UP 1.2%
New Listings-3,599 units-UP 7.4%
Pending Sales-3,059 units-UP 7.1%
Median Days on Market-8 days-UP 14.3%
Price per s.f.-$155-UP 1.3%
% of List Price Received-99.5%-no change
Active Inventory-3,491 units-UP 1.0%
Months Supply of Inventory-1.2 months-no change
Bottom line, we are seeing more activity and we believe the Fall and Winter markets will be busier than usual setting up a robust spring 2023 season. If you or someone you know is thinking about buying, selling, building, or investing in real estate, give us a call-317-339-7698. We would be honored to talk and discuss your options so you can make an informed decision. We want to be your economist of choice for the real estate market.
We hope you enjoy this month’s newsletter full of fun and interesting articles including: how to get better sleep, improve core strength, how to get along with Gen Z, and many others!!! Let us know what you think!! Click here to read it!
Enjoy the rest of the summer and give us a call-317-339-7698! We would love to hear from you!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, Helena, and Mark
P.S. Please don’t keep us a secret!
This month’s letter is very bittersweet for many reasons. Let me explain. First, THANK YOU to Helena for helping us while Thea was on maternity leave!! We have enjoyed having her as part of the team and helping with our buyers. We will miss her as she puts her license into referral status. WELCOME BACK to Thea!!! We have missed her while she and Michael have enjoyed some time with their new baby Parks born in May. Thea’s first official day back is July 24th and we are so excited for her return to the team. Parks is doing great!!
Our oldest daughter Ana heads off for her freshman year at IU Bloomington on August 13th. We are so excited for her and this next chapter in her life (and so is she!), but we are also very sad and nostalgic to not have her at home with us for the first time in 18 years. August 13th is going to be a rough day emotionally for Brigid and me. We are so proud of her and all of her hard work that has led her to this point and receiving a Direct Admission into the Kelley School of Business. We are excited she is only a 90-minute drive from us and we already purchased season tickets for IU Football and a parking pass for tailgating (which we are told is better than the football). These next 4 years will fly by!!! Fly high, Ana!!! We are so PROUD of you!!
Tali has had a great summer playing with friends and relaxing. She has gone to a couple cheer camps and starts her 8th grade school cheer season the first day of school with their first football game. Her club team ICE has been practicing all summer for their next season, which starts in November and will run through May. She is excited for this new year!
Brigid has had a couple of work trips to Philly for Merck, but mostly has been able to stay home and work from here. She really enjoys ‘summer hours’, which is from Memorial Day to Labor Day where she can work until noon on Fridays and take the rest of the day off.
Congratulations to Brigid’s parents on their 50th wedding anniversary! We celebrated it in Florida at the beginning of July and the entire family and friends went down there to enjoy a recommitment ceremony followed by dinner and dancing. It was a lot of fun! While we were there, we enjoyed 4 days of Disney where we visited all 4 of the parks. It was exhausting, but lots of fun!! I was finally able to experience Rise of The Resistance and it was absolutely fantastic!! Also, the new Tron and Guardians of The Galaxy coasters were so much fun!!!
Kylie is looking forward to presenting a class to our office on the benefits of Reiki. She is a practitioner and we have some clients she has been able to help by using it. If you ever want to learn more or schedule a FREE consult, she would be happy to talk-317-573-1818.
The real estate market has been nutty as usual these past 12-months. Inflation has come down dramatically and now sits around 3%. Mortgage rates have seen a bumpy ride over the past 12-months as well, causing lots of people to sit on the sidelines until rates come down and appreciation slows. This is very understandable. Rates ARE coming down and are expected to be below 6% by the end of 2023. Appreciation has also slowed and is hovering around 3.5-5% annually depending on location and price point. Most experts are predicting that as soon as interest rates drop below 6%, we will see a flood of sellers put their houses on the market and a flood of buyers looking for this increased inventory. This is predicted to result in faster price appreciation and more bidding wars again.
So, if you or someone you know is thinking of making a move in the next 12-months, here is my advice. Put your house on the market now. You will get a great price and one that is likely the highest you will ever have gotten. Prices will continue to rise, but that will also impact the other side of the sword, so to speak. Get into the market to buy ASAP. If getting a mortgage, get temporary financing such as a 2/1 buy down or ARM and then refinance next year when rates are lower into a more permanent financing product. Many lenders are offering streamlined re-fi programs cutting closing costs in half and closing times under 30-days. The reason it is important to buy sooner rather than later is as soon as the flood of buyers gets back into the market, as predicted by almost every expert out there, prices will go up fast and bidding wars will be commonplace again.
Thank you to everyone who attended our July Happy Hour sponsored by EcoBak. We had a great time and enjoyed meeting new people and reconnecting with old friends. Our next Happy Hour will be Thursday, August 17th from 5-6:30pm at Matt The Miller’s in Carmel. Please RSVP to Kylie@Welcome2Indy.com.
If you or someone you care about is thinking of selling in the next year or so, please register for our Seller Workshop on Tuesday, August 8th from 7-8:30pm via Zoom. We answer all of your questions, review what the market is doing and is predicted to do and how that will affect your decision. We also cover the Top 10 Dumb Mistakes Smart People Make When Listing Their House for Sale…and how to avoid them. These will put thousands of dollars back into your pocket! Register with Kylie@Welcome2Indy.com.
Thea will be hosting our next Buyer Workshop on Wednesday, August 23rd from 5:30-6:30pm via Zoom. This is a great opportunity to learn all of the changes in the home buying process and how you can best prepare to be an educated and prepared buyer to make your experience as smooth as possible. Thea will be teaching this workshop and answering any and all questions. RSVP to thea@Welcome2Indy.com
As always, here are the latest market stats from MIBOR covering the 16 counties it serves in Central Indiana comparing June 2023 to May 2023
Median Sales Price-$300,000-no change
Closed Sales-2,988 units-UP 1.2%
New Listings-3,599 units-UP 7.4%
Pending Sales-3,059 units-UP 7.1%
Median Days on Market-8 days-UP 14.3%
Price per s.f.-$155-UP 1.3%
% of List Price Received-99.5%-no change
Active Inventory-3,491 units-UP 1.0%
Months Supply of Inventory-1.2 months-no change
Bottom line, we are seeing more activity and we believe the Fall and Winter markets will be busier than usual setting up a robust spring 2023 season. If you or someone you know is thinking about buying, selling, building, or investing in real estate, give us a call-317-339-7698. We would be honored to talk and discuss your options so you can make an informed decision. We want to be your economist of choice for the real estate market.
We hope you enjoy this month’s newsletter full of fun and interesting articles including: how to get better sleep, improve core strength, how to get along with Gen Z, and many others!!! Let us know what you think!! Click here to read it!
Enjoy the rest of the summer and give us a call-317-339-7698! We would love to hear from you!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, Helena, and Mark
P.S. Please don’t keep us a secret!
Sunday, June 25, 2023
July 2023 Newsletter & Update
Happy Fourth of July!!! It seems like summer just started and now we are almost at the halfway mark. Historically, July tends to be the month for vacations…and we certainly feel it in the real estate market! Activity generally goes down for about 4-6 weeks and then picks back up again until mid-November. We hope you have a fun, safe and enjoyable Fourth of July holiday whether you are staying home or traveling.
First and foremost, you read in our newsletter last month that Thea and Michael had their first baby in May. They are all doing great and loving being parents. While we sure do miss Thea, we know her most important job is being a mom to Parks. She is enjoying spending lots of time with him and is scheduled to come back to work around July 24th at this point.
Helena has been helping us and filling in for Thea while she is on maternity leave. She has been a huge help with our buyers! She just returned from a 2-week trip to Australia and loved every minute of it!!! That is one of many places on our bucket list. Have you ever been?? If so, drop me an e-mail or call as I would love to hear your travel advice.
Kylie and her family are enjoying the summer sun and spending time at the pool. She is teaching a class at our office on Reiki and how it works and the benefits people can realize from it. She loves teaching about it and our team has seen some real health benefits from it.
The end of June and beginning of July are busy weeks for our family. Ana has new student orientation at IU at the end of June, Tali is with all 7 cheer gyms from ICE up in Michigan for a camp from July 1-3 and then we leave on July 4th to Florida to celebrate Brigid’s parents’ 50th wedding anniversary. Family is flying in from all over the country for their re-commitment ceremony and then we spend a few days at Disney before returning home.
Thank you to everyone who attended our June Happy Hour sponsored by CREW Property Improvement Specialists! They are the company we recommend for any handyman items. They do a great job, guarantee their work and are licensed and bonded. Give me a call if you want their info. Hope you have down on your calendars to join us for our July Happy Hour on Thursday, July 20th from 5-6:30pm at Matt The Miller’s in Carmel. This month is sponsored by EcoBak Restoration. They handle all of our restoration needs, including water, fire and mold. Great, locally-owned company! Come and say hello!
The next Home Seller Workshop will be on Tuesday, July 11th from 7-8:30pm via Zoom only. E-mail kylie@Welcome2Indy.com if you or someone you care about would like to register. This is a low-key, interactive workshop showing you the Top 10 Mistakes to Avoid When Listing Your House…these can literally cost you thousands of $$$.
Our next Home Buyer Workshop is come back upon Thea’s return and is tentatively scheduled for July. More info will be coming out soon!
Be on the lookout for your Football calendar magnet from us later this summer. Snap a photo of it on your fridge or wherever you like to keep it and post it to your Facebook and Instagram page and tag us and we will enter you to win a $100 gift card to a restaurant of your choosing!
The real estate market has been strange lately. Inventory is still extremely low and interest rates have come down a bit and are projected to continue to fall to maybe the mid 5% range sometime this fall. We are expecting a very busy fall as a result, which is welcome for many people as the spring market was not nearly as robust as usual due to low inventory, high home prices and high mortgage interest rates (relatively speaking, of course).
Until interest rates come down below the 6% range, the gap between the rate homeowners have now and what the current rates are is keeping many sellers on the sidelines further suppressing inventory and keeping housing prices high. Builders are extremely optimistic right now and are building more inventory than they have since before the recession. That will help, but won’t be anywhere remotely close enough to bridge the supply gap we have at 1 month right now.
Here are some stats from MIBOR comparing April 2023 to May 2023 in the 16 counties they service:
Median Sales Price UP 3.4% to $300,000
Closed Sales UP 17.2% to 2,901 units
New Listings UP 13.0% to 3,319 units
Pending Sales UP 8.1% to 3,035 units
Average Days on Market UP 62.0% to 81 days
Median Days on Market NO CHANGE at 7 days
Price per s.f. UP 2.0% to $156
% of Asking Price Received UP 0.6% to 99.5%
Active Inventory DOWN 5.6% to 3,026 units
Absorption Rate DOWN 23.1% to 1.0 months
You can see that these numbers are all trending in the right direction. We just need more inventory. So, if you know someone thinking about selling, please give us a call. We would love to talk with them about their options and show them how our listings sell, on average for 7.9% MORE than the average real estate agent gets. For a $300,000 house, that is $23,700 back in their pocket! Of course, we would love to help with any buying or building needs as well. Give us a call today-317-339-7698!
Happy Independence Day!! We hope you enjoy our July newsletter! Click here to read it.
Your Friends in Real Estate,
Steve, Kylie, Thea, Helena, and Mark
P.S. Please don’t keep us a secret!
First and foremost, you read in our newsletter last month that Thea and Michael had their first baby in May. They are all doing great and loving being parents. While we sure do miss Thea, we know her most important job is being a mom to Parks. She is enjoying spending lots of time with him and is scheduled to come back to work around July 24th at this point.
Helena has been helping us and filling in for Thea while she is on maternity leave. She has been a huge help with our buyers! She just returned from a 2-week trip to Australia and loved every minute of it!!! That is one of many places on our bucket list. Have you ever been?? If so, drop me an e-mail or call as I would love to hear your travel advice.
Kylie and her family are enjoying the summer sun and spending time at the pool. She is teaching a class at our office on Reiki and how it works and the benefits people can realize from it. She loves teaching about it and our team has seen some real health benefits from it.
The end of June and beginning of July are busy weeks for our family. Ana has new student orientation at IU at the end of June, Tali is with all 7 cheer gyms from ICE up in Michigan for a camp from July 1-3 and then we leave on July 4th to Florida to celebrate Brigid’s parents’ 50th wedding anniversary. Family is flying in from all over the country for their re-commitment ceremony and then we spend a few days at Disney before returning home.
Thank you to everyone who attended our June Happy Hour sponsored by CREW Property Improvement Specialists! They are the company we recommend for any handyman items. They do a great job, guarantee their work and are licensed and bonded. Give me a call if you want their info. Hope you have down on your calendars to join us for our July Happy Hour on Thursday, July 20th from 5-6:30pm at Matt The Miller’s in Carmel. This month is sponsored by EcoBak Restoration. They handle all of our restoration needs, including water, fire and mold. Great, locally-owned company! Come and say hello!
The next Home Seller Workshop will be on Tuesday, July 11th from 7-8:30pm via Zoom only. E-mail kylie@Welcome2Indy.com if you or someone you care about would like to register. This is a low-key, interactive workshop showing you the Top 10 Mistakes to Avoid When Listing Your House…these can literally cost you thousands of $$$.
Our next Home Buyer Workshop is come back upon Thea’s return and is tentatively scheduled for July. More info will be coming out soon!
Be on the lookout for your Football calendar magnet from us later this summer. Snap a photo of it on your fridge or wherever you like to keep it and post it to your Facebook and Instagram page and tag us and we will enter you to win a $100 gift card to a restaurant of your choosing!
The real estate market has been strange lately. Inventory is still extremely low and interest rates have come down a bit and are projected to continue to fall to maybe the mid 5% range sometime this fall. We are expecting a very busy fall as a result, which is welcome for many people as the spring market was not nearly as robust as usual due to low inventory, high home prices and high mortgage interest rates (relatively speaking, of course).
Until interest rates come down below the 6% range, the gap between the rate homeowners have now and what the current rates are is keeping many sellers on the sidelines further suppressing inventory and keeping housing prices high. Builders are extremely optimistic right now and are building more inventory than they have since before the recession. That will help, but won’t be anywhere remotely close enough to bridge the supply gap we have at 1 month right now.
Here are some stats from MIBOR comparing April 2023 to May 2023 in the 16 counties they service:
Median Sales Price UP 3.4% to $300,000
Closed Sales UP 17.2% to 2,901 units
New Listings UP 13.0% to 3,319 units
Pending Sales UP 8.1% to 3,035 units
Average Days on Market UP 62.0% to 81 days
Median Days on Market NO CHANGE at 7 days
Price per s.f. UP 2.0% to $156
% of Asking Price Received UP 0.6% to 99.5%
Active Inventory DOWN 5.6% to 3,026 units
Absorption Rate DOWN 23.1% to 1.0 months
You can see that these numbers are all trending in the right direction. We just need more inventory. So, if you know someone thinking about selling, please give us a call. We would love to talk with them about their options and show them how our listings sell, on average for 7.9% MORE than the average real estate agent gets. For a $300,000 house, that is $23,700 back in their pocket! Of course, we would love to help with any buying or building needs as well. Give us a call today-317-339-7698!
Happy Independence Day!! We hope you enjoy our July newsletter! Click here to read it.
Your Friends in Real Estate,
Steve, Kylie, Thea, Helena, and Mark
P.S. Please don’t keep us a secret!
Sunday, May 28, 2023
June 2023 Newsletter
Welcome to the unofficial start of summer!! School is out and grad and pool parties abound. Speaking of those, we are hosting a grad party for our daughter Ana next week. She graduated from Guerin Catholic and will be attending IU Kelley School of Business in the Fall. While she is excited to start a new chapter, we sure will miss having her here with us. We have absolutely loved watching her grow up from a little girl to a beautiful, confident, smart young woman with so many opportunities ahead of her. We are looking forward to heading down to B-Town for football tailgating, basketball games, and just to take her to dinner. If you have kids who have already gone down this road, you know both how excited we are as well as heartbroken.
The other HUGE news we have to share is that Thea and Michael welcomed Parks Jordan into this world on May 11th. They are all home and getting used to the new life they have together. We have seen photos of Parks and he is such a handsome baby with lots of hair. Thea and Michael are really enjoying being parents. Thea plans to return to the team mid-July. We have an agent from our office who was gracious enough to fill in for Thea while she is on maternity leave. Helena Hoen has been so helpful in working with Thea’s clients to ensure we don’t miss a step.
Tali finished her competition cheer season with a #10 and #2 in the world finishes at All-Star Worlds in Orlando last month. We are so proud of both teams as they worked so hard this year. They already have their new teams and have started practicing for 2024 Worlds!! It never stops!
Kylie is excited for the summer as her kids are out of school and the pool is open. Kylie loves her sun and soaking up all of that Vitamin D. She has been so amazing at helping Helena get acclimated to the team while Thea is out. She does a great job of keeping us all in line!
The spring real estate market has been unusually slower than in past years, especially recently. This is due to several factors, but chief among them is higher mortgage interest rates and record-high home prices. Along with those, low inventory is making it hard for buyers to find homes and sellers to feel comfortable putting theirs on the market. We do expect to see mortgage interest rates start tracking down and get to around a 5.5% rate by Fall. Every economist I have read and heard has said don’t expect to see mortgage interest rates dip below 5% again in our lifetimes.
With the low supply, we aren’t going to see home values decline here in Indy. Did you know that 2/3 of all people who purchased homes in the past 3-years have buyer’s remorse due to buying too quickly, paying too much and making too many concessions? Frankly, if you wanted to buy a home over the past 3-years, you had to be okay with all of those. Once we see mortgage rates tick below 6%, we expect to see more inventory become available. We will also see more buyers enter the market.
Here are some stats from MIBOR for the Greater Indianapolis area and its 16-county service area comparing April 2023 to March 2023:
Median Sales Price-$290,000 UP 5.5%
Closed Sales-2,447 units DOWN 8.3%
New Listings-2,919 units DOWN 1.9%
Pending Sales-2,997 units UP 4.6%
Days on Market-51 days UP 6.3%
Price per s.f.-$153 UP 2.0%
% of Ask Received-98.9% UP 0.8%
Active Inventory-2,778 units DOWN 15.7%
Absorption Rate-1.1 months DOWN 8.3%
We are seeing some of the spring seasonality come into play here, although not as strong as usual. We do expect to see a busy summer and fall if mortgage interest rates continue to fall.
There is a LOT of misinformation out there. If you or someone you care about are thinking of buying, selling, building or investing in real estate, please give us a call-317-573-1880. We would be happy to share relevant, factual, and accurate information about the housing market that is specific to you/them.
We hope you will join us for our June Happy Hour from 5-6:30pm on Thursday, June 15th at Matt The Miller’s in Carmel. We will likely be out on the patio if the weather cooperates. Please RSVP to kylie@Welcome2Indy.com
Also, my Seller Workshop is from 7-8:30pm on Tuesday, June 13th via Zoom. Please e-mail steve@Welcome2Indy.com for a link. This is GREAT for anyone thinking about selling in the next year or so. No pressure or selling, just good info as you prepare to get your house on the market.
We hope you enjoy reading this month's newsletter!!! Click here.
Happy Summer!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, Mark and Helena
P.S. Please don’t keep us a secret!
The other HUGE news we have to share is that Thea and Michael welcomed Parks Jordan into this world on May 11th. They are all home and getting used to the new life they have together. We have seen photos of Parks and he is such a handsome baby with lots of hair. Thea and Michael are really enjoying being parents. Thea plans to return to the team mid-July. We have an agent from our office who was gracious enough to fill in for Thea while she is on maternity leave. Helena Hoen has been so helpful in working with Thea’s clients to ensure we don’t miss a step.
Tali finished her competition cheer season with a #10 and #2 in the world finishes at All-Star Worlds in Orlando last month. We are so proud of both teams as they worked so hard this year. They already have their new teams and have started practicing for 2024 Worlds!! It never stops!
Kylie is excited for the summer as her kids are out of school and the pool is open. Kylie loves her sun and soaking up all of that Vitamin D. She has been so amazing at helping Helena get acclimated to the team while Thea is out. She does a great job of keeping us all in line!
The spring real estate market has been unusually slower than in past years, especially recently. This is due to several factors, but chief among them is higher mortgage interest rates and record-high home prices. Along with those, low inventory is making it hard for buyers to find homes and sellers to feel comfortable putting theirs on the market. We do expect to see mortgage interest rates start tracking down and get to around a 5.5% rate by Fall. Every economist I have read and heard has said don’t expect to see mortgage interest rates dip below 5% again in our lifetimes.
With the low supply, we aren’t going to see home values decline here in Indy. Did you know that 2/3 of all people who purchased homes in the past 3-years have buyer’s remorse due to buying too quickly, paying too much and making too many concessions? Frankly, if you wanted to buy a home over the past 3-years, you had to be okay with all of those. Once we see mortgage rates tick below 6%, we expect to see more inventory become available. We will also see more buyers enter the market.
Here are some stats from MIBOR for the Greater Indianapolis area and its 16-county service area comparing April 2023 to March 2023:
Median Sales Price-$290,000 UP 5.5%
Closed Sales-2,447 units DOWN 8.3%
New Listings-2,919 units DOWN 1.9%
Pending Sales-2,997 units UP 4.6%
Days on Market-51 days UP 6.3%
Price per s.f.-$153 UP 2.0%
% of Ask Received-98.9% UP 0.8%
Active Inventory-2,778 units DOWN 15.7%
Absorption Rate-1.1 months DOWN 8.3%
We are seeing some of the spring seasonality come into play here, although not as strong as usual. We do expect to see a busy summer and fall if mortgage interest rates continue to fall.
There is a LOT of misinformation out there. If you or someone you care about are thinking of buying, selling, building or investing in real estate, please give us a call-317-573-1880. We would be happy to share relevant, factual, and accurate information about the housing market that is specific to you/them.
We hope you will join us for our June Happy Hour from 5-6:30pm on Thursday, June 15th at Matt The Miller’s in Carmel. We will likely be out on the patio if the weather cooperates. Please RSVP to kylie@Welcome2Indy.com
Also, my Seller Workshop is from 7-8:30pm on Tuesday, June 13th via Zoom. Please e-mail steve@Welcome2Indy.com for a link. This is GREAT for anyone thinking about selling in the next year or so. No pressure or selling, just good info as you prepare to get your house on the market.
We hope you enjoy reading this month's newsletter!!! Click here.
Happy Summer!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, Mark and Helena
P.S. Please don’t keep us a secret!
Tuesday, April 25, 2023
May 2023 Newsletter
Welcome to May!! May is my favorite month of the year. School is almost out, temperatures are getting warmer, the flowers and trees are blooming, the days are getting longer, the real estate season is HOT, and everyone is looking forward to a fun summer! And, the Indy 500!!! We hope you are looking forward to some fun summer plans as well.
Baby update!! Thea is due May 11th and by the time you read this, she may be close to delivering. We are so excited for Thea and Michael and can’t wait to see their new baby. Hopefully, next newsletter, we will have some BIG news to share!!! Thea is planning on taking 2 months maternity leave and then plans to return to helping our clients. During her leave, Helena Hoen will be filling in for Thea. Helena is a great agent and person and we know you will love working with her while Thea is away. Thank you to Helena for stepping in to help out our client family!!
If you were in attendance at Casino Night on April 21st, you had a great time!!! We absolutely LOVED seeing everyone and hearing all of the cheering and laughing all night. We expect to be able to invite ALL of our clients next year and hope you will join us. It was so much fun!!!
We also hosted our first 2023 Shred and Recycling Day on Earth Day. Hopefully, you were able to swing by and take part. If not, we hope to have another one later this year.
We also had our April Happy Hour on the 20th. It was fun to see so many friends and clients and hang out. Please join us for our May Happy Hour on Thursday, May 18th from 5-6:30pm at Matt The Miller’s in Carmel. FREE drinks and appetizers!
Don’t miss our next Seller Workshop on Tuesday, May 9th from 7-8:30pm. E-mail kylie@Welcome2Indy.com to register. If you know anyone thinking of selling this year, invite them to hop on. It is low-key, informative, and fun! All of your questions will be answered.
Thea’s next Buyer Workshop will be held likely in July after she returns from maternity leave. If you know anyone who is thinking of buying or building this year, have them get in contact with me: Steve@Welcome2Indy.com. I would be happy to conduct a personal buyer workshop and answer all of their questions.
Thank you to Butler University for hosting us in April for our Home Buyer and Seller Workshop. We had a great turnout and loved being back on campus. We look forward to being back again next year for another brand new workshop.
Exciting news for our family is that Tali is competing on 2 competitive cheer teams with ICE Cheer in Orlando for Worlds! One of her teams is ranked 1st in the nation and they are going to defend their title. We are so excited! Please send some good vibes our way from May 4-7.
Ana is winding down her senior year at Guerin and our spare bedroom is the stock room for dorm furnishings. She already has her orientation weekend set with her roommate. Graduation party is set and invites are about to go out. Things are getting real!!!
Kylie has been dealing with terrible allergies and sick kiddos. No fun!!! She is getting through and is looking forward to allergies dying down.
The real estate market has been up and down all year with the number of transactions much lower than last year. We are down about 17.8% from last year YTD. Here are some numbers comparing March 2023 to February 2023 courtesy of MIBOR:
Median Sales Price-No change-$275,000
Closed Sales-UP 39.9% to 2,631 units
New Listings-UP 34.4% to 2,971 units
Pending Sales-UP 29.4% to 3,046 units
Days on Market-DOWN 9.3% to 49 days
Price per s.f.-UP 2.7% to $150
% of Ask Received-UP 0.6% to 98.1%
Active Inventory-DOWN 14.3% to 2,764 units
Absorption Rate-DOWN 35.3% 1.1 months
Circle May 10th on your calendars. The annual inflation report is released then. It will show significant easing in inflation and mortgage rates will drop. We expect them to be in the mid-5% this summer. Trust me, things are going to get crazy again, so if you or someone you care about are remotely thinking of making a move this year, do it now, before things get nuts again (they already are in some price points). You can always refinance later and many lenders, in anticipation of this are already marketing streamlined refinances. Call me to learn more-317-339-7698.
We hope you have an amazing May!!! Thank you for being such great clients and referral partners. We truly appreciate you and everything you do for our families. Who is the next person you know who needs our help with buying, selling, building, or investing in real estate? We would love to talk with them!
Your friends in real estate,
Steve, Kylie, Thea, Mark and Helena
P.S. Please don’t keep us a secret!!
Click here to read our May newsletter full of fun articles for spring and some interesting trivia.
Baby update!! Thea is due May 11th and by the time you read this, she may be close to delivering. We are so excited for Thea and Michael and can’t wait to see their new baby. Hopefully, next newsletter, we will have some BIG news to share!!! Thea is planning on taking 2 months maternity leave and then plans to return to helping our clients. During her leave, Helena Hoen will be filling in for Thea. Helena is a great agent and person and we know you will love working with her while Thea is away. Thank you to Helena for stepping in to help out our client family!!
If you were in attendance at Casino Night on April 21st, you had a great time!!! We absolutely LOVED seeing everyone and hearing all of the cheering and laughing all night. We expect to be able to invite ALL of our clients next year and hope you will join us. It was so much fun!!!
We also hosted our first 2023 Shred and Recycling Day on Earth Day. Hopefully, you were able to swing by and take part. If not, we hope to have another one later this year.
We also had our April Happy Hour on the 20th. It was fun to see so many friends and clients and hang out. Please join us for our May Happy Hour on Thursday, May 18th from 5-6:30pm at Matt The Miller’s in Carmel. FREE drinks and appetizers!
Don’t miss our next Seller Workshop on Tuesday, May 9th from 7-8:30pm. E-mail kylie@Welcome2Indy.com to register. If you know anyone thinking of selling this year, invite them to hop on. It is low-key, informative, and fun! All of your questions will be answered.
Thea’s next Buyer Workshop will be held likely in July after she returns from maternity leave. If you know anyone who is thinking of buying or building this year, have them get in contact with me: Steve@Welcome2Indy.com. I would be happy to conduct a personal buyer workshop and answer all of their questions.
Thank you to Butler University for hosting us in April for our Home Buyer and Seller Workshop. We had a great turnout and loved being back on campus. We look forward to being back again next year for another brand new workshop.
Exciting news for our family is that Tali is competing on 2 competitive cheer teams with ICE Cheer in Orlando for Worlds! One of her teams is ranked 1st in the nation and they are going to defend their title. We are so excited! Please send some good vibes our way from May 4-7.
Ana is winding down her senior year at Guerin and our spare bedroom is the stock room for dorm furnishings. She already has her orientation weekend set with her roommate. Graduation party is set and invites are about to go out. Things are getting real!!!
Kylie has been dealing with terrible allergies and sick kiddos. No fun!!! She is getting through and is looking forward to allergies dying down.
The real estate market has been up and down all year with the number of transactions much lower than last year. We are down about 17.8% from last year YTD. Here are some numbers comparing March 2023 to February 2023 courtesy of MIBOR:
Median Sales Price-No change-$275,000
Closed Sales-UP 39.9% to 2,631 units
New Listings-UP 34.4% to 2,971 units
Pending Sales-UP 29.4% to 3,046 units
Days on Market-DOWN 9.3% to 49 days
Price per s.f.-UP 2.7% to $150
% of Ask Received-UP 0.6% to 98.1%
Active Inventory-DOWN 14.3% to 2,764 units
Absorption Rate-DOWN 35.3% 1.1 months
Circle May 10th on your calendars. The annual inflation report is released then. It will show significant easing in inflation and mortgage rates will drop. We expect them to be in the mid-5% this summer. Trust me, things are going to get crazy again, so if you or someone you care about are remotely thinking of making a move this year, do it now, before things get nuts again (they already are in some price points). You can always refinance later and many lenders, in anticipation of this are already marketing streamlined refinances. Call me to learn more-317-339-7698.
We hope you have an amazing May!!! Thank you for being such great clients and referral partners. We truly appreciate you and everything you do for our families. Who is the next person you know who needs our help with buying, selling, building, or investing in real estate? We would love to talk with them!
Your friends in real estate,
Steve, Kylie, Thea, Mark and Helena
P.S. Please don’t keep us a secret!!
Click here to read our May newsletter full of fun articles for spring and some interesting trivia.
Tuesday, March 28, 2023
April 2023 Newsletter
Hoo-hoo-Hoosiers!!! We have a new Hoosier in the house now! That’s right, our daughter Ana has officially committed to IU Bloomington for the Fall. She is a Direct Admit to the Kelley School of Business to study marketing and Brigid and I couldn’t be any prouder! We visited this past weekend for Direct Admit Day and were so impressed with the program, curriculum, support and, of course the campus, which is ranked as one of the most beautiful in the US. The Kelley School of Business is ranked #8 in the US as well. A LOT is about to change and, frankly I, for one, am not ready for Ana to leave home. I really don’t know how you all did it when your kids left for college. We will deeply miss Ana later this year, but know this is her next step in her journey and we support her 100%. Now, looks like I need to buy some IU gear as I have absolutely nada.
Ana and Brigid are in Anna Maria Island as I write this on Ana’s senior year spring break with a bunch of her friends. Sounds like they are having a great time! Tali and I leave on Saturday to Whistler, Canada to go skiing. Brigid will be flying up to join us (not ski, but rather knit in the lodge) while Ana stays home with our dog Duke and goes to school. This will be the first time I have skied in over 30-years, so wish me luck!!! Tali will be learning how to ski as this will be her first time on skis.
Speaking of Tali, we are so proud of her and her competitive cheer team as they ended up #1 in the Nation and won the Golden Buzzer at their last competition. This means they have earned a fully-paid bid to Nationals in Orlando in May. She and her teammates have worked so hard for this and we can’t wait to see how they do against some really stiff competition from all over the US.
The other super-exciting news is that Thea is just a few weeks away from her due date of May 11th!!! She and baby are doing great and she can’t wait to meet him/her. We are excited for her and Michael and can’t wait to see little baby Snelly!! While Thea is on maternity leave, an agent in our office Helena Hoen will be helping us with our buyers. Thea has been working closely with Helena so she will be ready to help when Thea is out. We are so excited Helena is on the team and has fit right in!
Thank you to Butler University for inviting me back to speak to your faculty and staff after a COVID break. If you work at Butler, I hope you will join me on Wednesday, April 11th from 12-1pm where I will be teaching a brand new workshop entitled the Top 7 Dumb Mistakes Smart People Make in Today’s Real Estate Market.
If you or someone you care about would like to learn some of these and don’t work at Butler join me from 7-8:30pm on Zoom that night where I will be hosting another workshop titled The Top 10 Dumb Mistakes Smart People Make When Selling Their House. E-mail me at steve@Welcome2Indy.com to register.
If you or someone you care about are thinking of buying a house this year, you can’t miss Thea’s Buyer Workshop on Wednesday, April 26th from 5-6:30pm where she will walk you through the buying process and common mistakes to avoid in this crazy real estate market. E-mail thea@Welcome2Indy.com to register.
Don’t miss our Happy Hour on Thursday, April 20th from 5-6:30pm at Matt The Miller’s in Carmel for some fun conversation, meet new friends and enjoy some cold drinks and hot appetizers on me! E-mail kylie@Welcome2Indy.com to register.
The housing market continues to be front page of the news. The market is absolutely heating back up again and we are seeing many houses (not all) receiving multiple offers above asking price. Interest rates are slowly coming back down and should continue to do so throughout the year. Housing appreciation has cooled, but is NOT contracting. Inventory, while still stubbornly low, has risen a bit, but but is far from being where we need it. That will take years to get back to where we need it to be. Indiana is 30,000 housing units short of current demand and the US is over 1.7 million housing units short of demand. The gap continues to grow.
See below stats from MIBOR comparing February 2023 to January 2023:
Median Sales Price-UP 0.7% to $275,000
Closed Sales-UP 20.1% to 1,850 units
New Listings-UP 7.6% to 2,202 units
Pending Sales-UP 9.7% to 2,502 units
Days on Market-DOWN 13.1% to 53 days
Price per s.f.-DOWN 6.4% to $146
% of Asking Price Received-UP 0.6% to 97.5%
Active Inventory-DOWN 18.9% to 2,883 units
Absorption Rate-DOWN 30.4% to 1.6 months (this is UP 128.6% from 2/2022 when it was 0.7 months)
We hope you are enjoying the first weeks of spring and the longer daylight in the evenings. We also hope that you have a wonderful Easter.
Please enjoy this month’s newsletter and let us know what you think about it. We really try to find fun and entertaining articles and stories that are a quick read. How did we do? Click here to read our April newsletter.
Happy Spring!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Ana and Brigid are in Anna Maria Island as I write this on Ana’s senior year spring break with a bunch of her friends. Sounds like they are having a great time! Tali and I leave on Saturday to Whistler, Canada to go skiing. Brigid will be flying up to join us (not ski, but rather knit in the lodge) while Ana stays home with our dog Duke and goes to school. This will be the first time I have skied in over 30-years, so wish me luck!!! Tali will be learning how to ski as this will be her first time on skis.
Speaking of Tali, we are so proud of her and her competitive cheer team as they ended up #1 in the Nation and won the Golden Buzzer at their last competition. This means they have earned a fully-paid bid to Nationals in Orlando in May. She and her teammates have worked so hard for this and we can’t wait to see how they do against some really stiff competition from all over the US.
The other super-exciting news is that Thea is just a few weeks away from her due date of May 11th!!! She and baby are doing great and she can’t wait to meet him/her. We are excited for her and Michael and can’t wait to see little baby Snelly!! While Thea is on maternity leave, an agent in our office Helena Hoen will be helping us with our buyers. Thea has been working closely with Helena so she will be ready to help when Thea is out. We are so excited Helena is on the team and has fit right in!
Thank you to Butler University for inviting me back to speak to your faculty and staff after a COVID break. If you work at Butler, I hope you will join me on Wednesday, April 11th from 12-1pm where I will be teaching a brand new workshop entitled the Top 7 Dumb Mistakes Smart People Make in Today’s Real Estate Market.
If you or someone you care about would like to learn some of these and don’t work at Butler join me from 7-8:30pm on Zoom that night where I will be hosting another workshop titled The Top 10 Dumb Mistakes Smart People Make When Selling Their House. E-mail me at steve@Welcome2Indy.com to register.
If you or someone you care about are thinking of buying a house this year, you can’t miss Thea’s Buyer Workshop on Wednesday, April 26th from 5-6:30pm where she will walk you through the buying process and common mistakes to avoid in this crazy real estate market. E-mail thea@Welcome2Indy.com to register.
Don’t miss our Happy Hour on Thursday, April 20th from 5-6:30pm at Matt The Miller’s in Carmel for some fun conversation, meet new friends and enjoy some cold drinks and hot appetizers on me! E-mail kylie@Welcome2Indy.com to register.
The housing market continues to be front page of the news. The market is absolutely heating back up again and we are seeing many houses (not all) receiving multiple offers above asking price. Interest rates are slowly coming back down and should continue to do so throughout the year. Housing appreciation has cooled, but is NOT contracting. Inventory, while still stubbornly low, has risen a bit, but but is far from being where we need it. That will take years to get back to where we need it to be. Indiana is 30,000 housing units short of current demand and the US is over 1.7 million housing units short of demand. The gap continues to grow.
See below stats from MIBOR comparing February 2023 to January 2023:
Median Sales Price-UP 0.7% to $275,000
Closed Sales-UP 20.1% to 1,850 units
New Listings-UP 7.6% to 2,202 units
Pending Sales-UP 9.7% to 2,502 units
Days on Market-DOWN 13.1% to 53 days
Price per s.f.-DOWN 6.4% to $146
% of Asking Price Received-UP 0.6% to 97.5%
Active Inventory-DOWN 18.9% to 2,883 units
Absorption Rate-DOWN 30.4% to 1.6 months (this is UP 128.6% from 2/2022 when it was 0.7 months)
We hope you are enjoying the first weeks of spring and the longer daylight in the evenings. We also hope that you have a wonderful Easter.
Please enjoy this month’s newsletter and let us know what you think about it. We really try to find fun and entertaining articles and stories that are a quick read. How did we do? Click here to read our April newsletter.
Happy Spring!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Thursday, February 23, 2023
March 2023 newsletter
Happy almost spring!!! By the time our next newsletter comes out, it WILL be spring, at least officially on the calendar, and longer daylight due to Daylight Saving Time. Whether you like DST or not, it IS nice to have more daylight at the end of the day so if you have kiddos they can play longer after school and even later throughout the summer. Not sure why this winter has seemed so long, but I am ready for it to be over and get on with spring. So, here’s to spring!!!
Steve’s family has kept busy this spring on a lot of different fronts. The spring market is picking up and keeping me extremely busy, which is good. More on the market later…Ana is taking, likely her last finals of her high school career and is so excited! If she keeps A’s in all of her classes last trimester senior year, she doesn’t have to take finals. Whoo hoo!!! She also starts her internship with The Westfield Chamber of Commerce helping with marketing and communications. This should be an incredible opportunity to learn more about the business world as well as marketing, which is what she intends to study at IU. She leaves tomorrow with 2 of her good friends for St. Pete, FL to stay with Brigid’s parents for a few days and get some sun before the last trimester starts.
Tali is still neck-deep into competitive cheer. Next competition is this weekend downtown at the Convention Center. Then, a couple of weeks later, we head to Chicago and then a few weeks after that, we finish at Grand Park in Westfield. Finally, is Nationals in Orlando in May. We are still chasing a bid for her two teams she is on and expect to get them at one of these competitions.
Spring Break is next month and after Ana heads to Anna Maria Island with a significant part of her senior class (Brigid is going with her along with parents of her friends and they are all staying in a big house together for the week), then Brigid flies to Whistler, Canada to meet up with Tali and me to ski for our spring break for the week. So, from sun and sand to snow! I haven’t skied in over 25-years and Tali and Brigid haven’t ever skied, so this will be interesting. Send us good thoughts for no broken bones!!
Brigid just returned from Charlotte with Merck for a meeting for the week. She always enjoys spending time with her team, but also enjoys coming home!
Thea is doing great with her pregnancy and her due date of May 11th is rapidly approaching! We are excited for her and Michael and have made arrangements with an agent in our office to fill in for Thea while she is on maternity leave. She anticipates being out for 2 months. We welcome Helena Hoen to our team to help us with buyers while Thea is out. Helena comes from a background of data analytics in the corporate world. She will fit in well with our team and we hope you will get a chance to meet her.
Kylie has had her hands full with lots of work to catch up on as well as juggling kids, planning team events and her side hustle of Reiki. I was unfamiliar with Reiki until I met Kylie. It is starting to be taught alongside traditional medicine as its benefits are well-documented. She has worked on our team as well as several of our clients who swear by it. Feel free to call Kylie and she would be happy to tell you more and see if it is a good fit for you.
As usual, we have lots of upcoming events and we hope you can join us for all or some of them.
Happy Hour-Thursday, March 16th from 5-6:30pm at Matt The Miller’s in Carmel. Day before St. Patrick’s Day, so come in your green and party a day early!! We had a nice group at the February Happy Hour and would love to see YOU in March. RSVP to Kylie@Welcome2Indy.com.
Tuesday, March 14th from 10:30-4:30 is our next Vacation Giveaway!!! All you have to do is call in that day to 317-975-1511 between the hours above and we will register you to win a $5,000 vacation gift card. You can use that money however you like and it doesn’t even have to be for a vacation. Who doesn’t like FREE money??? For every referral you give us, we will put 3 additional entries in the drawing. Drawing will be shortly after 5pm on Facebook Live.
Now, onto the real estate market. There has been a LOT of coverage in the news and social media about it for awhile now. Please understand that all real estate is local. What you hear on the national news is NOT what is happening in the Indy area. Bottom line, Indy was ranked as the most affordable city again this year as well as one of the best places to live…again. We fully expect interest rates to continue to fall (it won’t be a straight-line drop), to around 5% by June. There is a LOT that can happen between now and then, but the inflation data is fully supporting this so far. That will flood the market with buyers…and sellers. Our market is NOT depreciating either. We are seeing modest appreciation in the 3-5% range. Inventory is still woefully short of demand and we are at 2.2 months of supply. A balanced market is 6-months. In Indiana, we are short over 30,000 housing units to meet demand. This number is growing every month as homeowners are not putting their houses on the market to the extent needed and builders aren’t able to build enough product. FHA and VA just reduced their funding fees as well. FHA reduced theirs by 30 bps. For a $400,000 house, that means a $100/month savings. Contact us for more info.
Check out the stats below courtesy of MIBOR comparing January 2023 to December 2022:
Median Sales Price-$272,000-DOWN 2.9%
Closed Sales-1,519 units-DOWN 37.3%
New Listings-2,037 units-UP 20.2%
Pending Sales-2,399 units-UP 52.5%
Days on Market-59 days-UP 18.0%
Price per s.f.-$156-DOWN 2.5%
% of Ask Received-96.8%-DOWN 0.9%
Active Inventory-3,388 units-DOWN 8.7%
Absorption Rate-2.2 months-UP 46.7%
You will notice that this is starting to be much more buyer-friendly. If you or someone you care about has been sitting on the sidelines to buy, this would be an excellent time to have a conversation with us about the pros and cons of taking action sooner rather than later.
We hope you have a great start to spring and enjoy the longer daylight hours in the evening. Please know how thankful we are for you and those you introduce to us to help. Please contact steve@Welcome2Indy.com if your plans for 2023 involve buying, selling, or investing in real estate. Also, keep in mind that we have a huge referral network of the Top 5% of agents in the US and if you or someone you care about are thinking of moving out of the Indy area, give us a call and we will match you with a perfect agent who is one of the best in their field.
Click here to read our March newsletter
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret. The best way to introduce us to someone you care about is e-mail or call Steve at steve@Welcome2Indy.com or 317-573-1880. Thank you!
Steve’s family has kept busy this spring on a lot of different fronts. The spring market is picking up and keeping me extremely busy, which is good. More on the market later…Ana is taking, likely her last finals of her high school career and is so excited! If she keeps A’s in all of her classes last trimester senior year, she doesn’t have to take finals. Whoo hoo!!! She also starts her internship with The Westfield Chamber of Commerce helping with marketing and communications. This should be an incredible opportunity to learn more about the business world as well as marketing, which is what she intends to study at IU. She leaves tomorrow with 2 of her good friends for St. Pete, FL to stay with Brigid’s parents for a few days and get some sun before the last trimester starts.
Tali is still neck-deep into competitive cheer. Next competition is this weekend downtown at the Convention Center. Then, a couple of weeks later, we head to Chicago and then a few weeks after that, we finish at Grand Park in Westfield. Finally, is Nationals in Orlando in May. We are still chasing a bid for her two teams she is on and expect to get them at one of these competitions.
Spring Break is next month and after Ana heads to Anna Maria Island with a significant part of her senior class (Brigid is going with her along with parents of her friends and they are all staying in a big house together for the week), then Brigid flies to Whistler, Canada to meet up with Tali and me to ski for our spring break for the week. So, from sun and sand to snow! I haven’t skied in over 25-years and Tali and Brigid haven’t ever skied, so this will be interesting. Send us good thoughts for no broken bones!!
Brigid just returned from Charlotte with Merck for a meeting for the week. She always enjoys spending time with her team, but also enjoys coming home!
Thea is doing great with her pregnancy and her due date of May 11th is rapidly approaching! We are excited for her and Michael and have made arrangements with an agent in our office to fill in for Thea while she is on maternity leave. She anticipates being out for 2 months. We welcome Helena Hoen to our team to help us with buyers while Thea is out. Helena comes from a background of data analytics in the corporate world. She will fit in well with our team and we hope you will get a chance to meet her.
Kylie has had her hands full with lots of work to catch up on as well as juggling kids, planning team events and her side hustle of Reiki. I was unfamiliar with Reiki until I met Kylie. It is starting to be taught alongside traditional medicine as its benefits are well-documented. She has worked on our team as well as several of our clients who swear by it. Feel free to call Kylie and she would be happy to tell you more and see if it is a good fit for you.
As usual, we have lots of upcoming events and we hope you can join us for all or some of them.
Happy Hour-Thursday, March 16th from 5-6:30pm at Matt The Miller’s in Carmel. Day before St. Patrick’s Day, so come in your green and party a day early!! We had a nice group at the February Happy Hour and would love to see YOU in March. RSVP to Kylie@Welcome2Indy.com.
Tuesday, March 14th from 10:30-4:30 is our next Vacation Giveaway!!! All you have to do is call in that day to 317-975-1511 between the hours above and we will register you to win a $5,000 vacation gift card. You can use that money however you like and it doesn’t even have to be for a vacation. Who doesn’t like FREE money??? For every referral you give us, we will put 3 additional entries in the drawing. Drawing will be shortly after 5pm on Facebook Live.
Now, onto the real estate market. There has been a LOT of coverage in the news and social media about it for awhile now. Please understand that all real estate is local. What you hear on the national news is NOT what is happening in the Indy area. Bottom line, Indy was ranked as the most affordable city again this year as well as one of the best places to live…again. We fully expect interest rates to continue to fall (it won’t be a straight-line drop), to around 5% by June. There is a LOT that can happen between now and then, but the inflation data is fully supporting this so far. That will flood the market with buyers…and sellers. Our market is NOT depreciating either. We are seeing modest appreciation in the 3-5% range. Inventory is still woefully short of demand and we are at 2.2 months of supply. A balanced market is 6-months. In Indiana, we are short over 30,000 housing units to meet demand. This number is growing every month as homeowners are not putting their houses on the market to the extent needed and builders aren’t able to build enough product. FHA and VA just reduced their funding fees as well. FHA reduced theirs by 30 bps. For a $400,000 house, that means a $100/month savings. Contact us for more info.
Check out the stats below courtesy of MIBOR comparing January 2023 to December 2022:
Median Sales Price-$272,000-DOWN 2.9%
Closed Sales-1,519 units-DOWN 37.3%
New Listings-2,037 units-UP 20.2%
Pending Sales-2,399 units-UP 52.5%
Days on Market-59 days-UP 18.0%
Price per s.f.-$156-DOWN 2.5%
% of Ask Received-96.8%-DOWN 0.9%
Active Inventory-3,388 units-DOWN 8.7%
Absorption Rate-2.2 months-UP 46.7%
You will notice that this is starting to be much more buyer-friendly. If you or someone you care about has been sitting on the sidelines to buy, this would be an excellent time to have a conversation with us about the pros and cons of taking action sooner rather than later.
We hope you have a great start to spring and enjoy the longer daylight hours in the evening. Please know how thankful we are for you and those you introduce to us to help. Please contact steve@Welcome2Indy.com if your plans for 2023 involve buying, selling, or investing in real estate. Also, keep in mind that we have a huge referral network of the Top 5% of agents in the US and if you or someone you care about are thinking of moving out of the Indy area, give us a call and we will match you with a perfect agent who is one of the best in their field.
Click here to read our March newsletter
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret. The best way to introduce us to someone you care about is e-mail or call Steve at steve@Welcome2Indy.com or 317-573-1880. Thank you!
Wednesday, February 08, 2023
February 2023 Newsletter
Happy Valentine’s Day! We hope your year is off to a great start and if you have a significant other, that you are able to do something special for Valentine’s Day. Now that the holidays are over and interest rates are coming down, we are seeing a resurgence in the real estate market. More on that below.
We enjoyed our first Happy Hour of the year last month and loved seeing many of our clients and friends. We hope to see you at an upcoming Happy Hour. They are usually the 3rd Thursday of the month from 5-6:30pm at Matt The Miller’s. The next one is Thursday, February 16th. RSVP to kylie@Welcome2Indy.com
Four lucky clients won a Valentine’s Day dinner reservation at Season’s 52 with a bottle of wine on us! Whatever you do for Valentine’s Day, we hope you can do something special.
Workshops! Are you or someone you care about thinking about selling or buying a home this year? If so, jump on a quick Zoom workshop with us and we will cover all of your questions, including what is the current state of the real estate market and what do we project happening this year and how will that affect you? Steve walks his clients through the entire home selling process starting from 1-year out to putting your house on the market and covers the Top Ten Dumb Mistakes Smart People Make When Selling Their House. Thea walks buyers through the Top Ten Things to Know before Buying Your Next Home as well as the process. Steve’s next Seller Workshop is on March 14th from 7-8:30pm. E-mail steve@Welcome2Indy.com to register. Thea’s next buyer workshop is February 22nd from 5:30-6:30pm. E-mail thea@Welcome2Indy.com to register. Both are via Zoom only.
Ready for some warm weather? Wanna get away? Wanna have someone else pay for it?? Look for more information on our next $5,000 Vacation Giveaway on March 14th. All you have to do is call in to register. More info is coming soon…
Big news for Steve’s family!!! Ana who is a senior at Guerin Catholic just accepted a direct admit to The Kelly School of Business at IU Bloomington in the Fall!!! She applied to a lot of great universities all over the country and had many acceptance letters and chose IU. Brigid and I couldn’t be happier!!! She will be close, attending the 8th-ranked Business School in the nation and can we say in-state tuition?? Score!!!
Tali is in the middle of competitive cheer season. Earlier this month she was in French Lick competing and both teams for which she cheers came in first place! We are still looking to win a bid to Nationals in May and have 3 more competitions left this season to earn one. Fingers crossed!!
Kylie is continuing to grow her Reiki business. If you are familiar with Reiki (or even if you aren’t), feel free to give Kylie a call at 317-573-1818. She does a phenomenal job and already has several regular clients.
Thea is working hard to keep up with the spring market that has already started. She celebrated a big birthday on February 7th and we were excited to celebrate with her!!! Her pregnancy is going great so far and we are getting closer and closer to her due date in May. Don’t worry, if you are working with Thea, we have a transition plan in place so we don’t miss a beat helping you or someone you referred to us find the perfect home. We will be excited to welcome Thea back after a couple of months of maternity leave.
The market…what is going on with it? After many months of sluggish activity, things have picked up already and we are expecting a busy spring market. Interest rates are coming down and have dropped already around 1% from their highs just a couple of months ago. They are projected to keep dropping to around the 5% mark by summer, which is awesome news! As a result, buyers and sellers who were on the sidelines the past several months are entering the market. Mortgage applications are up 28% already and new listings are down, keeping for a tight market, which is pushing the median sales price up to $280,000. We still only have 1.6 months supply of inventory and with a healthy level at 6-months, you can see why we don’t expect to see this changing anytime soon. We are seeing multiple offers on houses again, although not nearly as many as last spring and only in certain areas and price points.
See some numbers below courtesy of MIBOR comparing December 2022 to November 2022:
Median Sales Price-UP 0.8% to $280,000
Closed Sales-DOWN 4.3% to 2,414 units
New Listings-DOWN 27.2% to 1,706 units
Pending Sales-DOWN 10.3% to 1,878 units
Days on Market-UP 31.4% to 46 days
Price per s.f.-no change-$160
% of Ask Received-DOWN 0.1% to 97.7%
Active Inventory-DOWN 12.3% to 3,816 units
Absorption Rate-DOWN 5.9% to 1.6 months
While these numbers can look pretty ugly, keep in mind this is during the holidays, which is the slowest month for real estate sales and also some of the highest interest rates we have seen in years. Things are getting better. In fact, if you are a buyer, jumping in the market right now will be to your benefit as we expect a lot of competition again this spring, and as stated above, we are already seeing it.
We hope to see you at some of our upcoming events. As always, THANK YOU for keeping us in mind for all of your real estate needs AND for introducing us to people you care about who are thinking about buying, selling, or building a new home. We will treat them like family!! This is how we stay in business.
Finally, if you or someone you know is moving out of the area, CALL US. We have a vetted referral network of the TOP 5% of real estate agents nationwide. We would be happy to connect you or someone you care about to ensure you get the absolute BEST agent to help with your next home.
Click here to read our February newsletter.
Happy Valentine’s Day!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
Please don’t keep us a secret!
We enjoyed our first Happy Hour of the year last month and loved seeing many of our clients and friends. We hope to see you at an upcoming Happy Hour. They are usually the 3rd Thursday of the month from 5-6:30pm at Matt The Miller’s. The next one is Thursday, February 16th. RSVP to kylie@Welcome2Indy.com
Four lucky clients won a Valentine’s Day dinner reservation at Season’s 52 with a bottle of wine on us! Whatever you do for Valentine’s Day, we hope you can do something special.
Workshops! Are you or someone you care about thinking about selling or buying a home this year? If so, jump on a quick Zoom workshop with us and we will cover all of your questions, including what is the current state of the real estate market and what do we project happening this year and how will that affect you? Steve walks his clients through the entire home selling process starting from 1-year out to putting your house on the market and covers the Top Ten Dumb Mistakes Smart People Make When Selling Their House. Thea walks buyers through the Top Ten Things to Know before Buying Your Next Home as well as the process. Steve’s next Seller Workshop is on March 14th from 7-8:30pm. E-mail steve@Welcome2Indy.com to register. Thea’s next buyer workshop is February 22nd from 5:30-6:30pm. E-mail thea@Welcome2Indy.com to register. Both are via Zoom only.
Ready for some warm weather? Wanna get away? Wanna have someone else pay for it?? Look for more information on our next $5,000 Vacation Giveaway on March 14th. All you have to do is call in to register. More info is coming soon…
Big news for Steve’s family!!! Ana who is a senior at Guerin Catholic just accepted a direct admit to The Kelly School of Business at IU Bloomington in the Fall!!! She applied to a lot of great universities all over the country and had many acceptance letters and chose IU. Brigid and I couldn’t be happier!!! She will be close, attending the 8th-ranked Business School in the nation and can we say in-state tuition?? Score!!!
Tali is in the middle of competitive cheer season. Earlier this month she was in French Lick competing and both teams for which she cheers came in first place! We are still looking to win a bid to Nationals in May and have 3 more competitions left this season to earn one. Fingers crossed!!
Kylie is continuing to grow her Reiki business. If you are familiar with Reiki (or even if you aren’t), feel free to give Kylie a call at 317-573-1818. She does a phenomenal job and already has several regular clients.
Thea is working hard to keep up with the spring market that has already started. She celebrated a big birthday on February 7th and we were excited to celebrate with her!!! Her pregnancy is going great so far and we are getting closer and closer to her due date in May. Don’t worry, if you are working with Thea, we have a transition plan in place so we don’t miss a beat helping you or someone you referred to us find the perfect home. We will be excited to welcome Thea back after a couple of months of maternity leave.
The market…what is going on with it? After many months of sluggish activity, things have picked up already and we are expecting a busy spring market. Interest rates are coming down and have dropped already around 1% from their highs just a couple of months ago. They are projected to keep dropping to around the 5% mark by summer, which is awesome news! As a result, buyers and sellers who were on the sidelines the past several months are entering the market. Mortgage applications are up 28% already and new listings are down, keeping for a tight market, which is pushing the median sales price up to $280,000. We still only have 1.6 months supply of inventory and with a healthy level at 6-months, you can see why we don’t expect to see this changing anytime soon. We are seeing multiple offers on houses again, although not nearly as many as last spring and only in certain areas and price points.
See some numbers below courtesy of MIBOR comparing December 2022 to November 2022:
Median Sales Price-UP 0.8% to $280,000
Closed Sales-DOWN 4.3% to 2,414 units
New Listings-DOWN 27.2% to 1,706 units
Pending Sales-DOWN 10.3% to 1,878 units
Days on Market-UP 31.4% to 46 days
Price per s.f.-no change-$160
% of Ask Received-DOWN 0.1% to 97.7%
Active Inventory-DOWN 12.3% to 3,816 units
Absorption Rate-DOWN 5.9% to 1.6 months
While these numbers can look pretty ugly, keep in mind this is during the holidays, which is the slowest month for real estate sales and also some of the highest interest rates we have seen in years. Things are getting better. In fact, if you are a buyer, jumping in the market right now will be to your benefit as we expect a lot of competition again this spring, and as stated above, we are already seeing it.
We hope to see you at some of our upcoming events. As always, THANK YOU for keeping us in mind for all of your real estate needs AND for introducing us to people you care about who are thinking about buying, selling, or building a new home. We will treat them like family!! This is how we stay in business.
Finally, if you or someone you know is moving out of the area, CALL US. We have a vetted referral network of the TOP 5% of real estate agents nationwide. We would be happy to connect you or someone you care about to ensure you get the absolute BEST agent to help with your next home.
Click here to read our February newsletter.
Happy Valentine’s Day!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
Please don’t keep us a secret!
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