Happy Spring!!! We hope this newsletter finds you excited that we are now officially in spring and looking forward to all of the activities that brings. The kids are counting down the days until the end of school and for those of us with school-aged kids, spring break is here. Summer break follows shortly thereafter. Lots of memories to be created!
Speaking of memories created, we are celebrating our team since we are all moving forward to exciting times with our lives. Thea is looking forward to spending more time with her son, however she will still be working with a few clients this year. Kylie is looking forward to helping our office in an administrative role while she continues working on launching her healthcare company. Mark who is our virtual assistant will take a bit of a break and then work with other real estate clients to help them like he did with us. Mark was a whiz at editing our intro video and newsletter. You will see some changes starting next month as we transition over to our new team and communications. I will still record my video, but the paper newsletters will go away and you will be receiving an electronic version. We hope you like the new one!!!
We had a great time at our March Happy Hour!!! Loved seeing everyone and so many new faces!!! Don’t worry, we will be continuing the Happy Hours so you can look forward to attending those and if you haven’t been to one yet, come on out as our next one will be on Thursday, April 18th from 5-6:30pm at Matt The Miller’s. Hope to see you there!!! FYI-I will be in Orlando at All-Star Worlds Cheerleading competition with Brigid and Tali as Tali defends their world champion title. Will let you know how she does. Lots more teams are competing so the competition will be fierce!
Lots of talk about the commission settlement! I talk about this in my video, so hope you will take some time to watch it. Bottom line, starting July 1st, it is law that before a buyer’s agent can show you a house, you must have an Exclusive Buyer Agency Agreement approved. This is a huge change. Also, buyers are responsible for paying their agent now, however they can ask the seller to cover this cost in an offer. I suspect many sellers will still see the benefit in offering compensation to a buyer’s agent and will still do so, but it will be done slightly differently. Contrary to what President Biden said, this will have ZERO impact to real estate prices. Those are continuing to go up and will do so for the foreseeable future. Interest rates are not projected to be below 6.4% now vs. 5.8% as predicted earlier this year. Lots of changes and LOTS of misinformation. If you have questions about any of this, please call me-317-339-7698. Happy to get into more details and answer any questions you have.
As for me, again I am not retiring!!! Please call me with any real estate needs. I still have a great team to help you or anyone you care about. I will also be doing some coaching and training and am very excited about that. If you know of an agent struggling with all of these changes, send them my way. Would love to help them navigate these new rules and become more successful!
Here are some stats from MIBOR on the 17 counties is tracks comparing February 2024 to January 2024:
Median Sales Price-$280,000-no change
Closed Sales-1,883 units-UP 17.8%
New Listings-2,450 units-UP 18.8%
Pending Sales-2,436 units-UP 10.7%
Median Days on Market-16 days-DOWN 46.7%
Average Days on Market-48 days-DOWN 15.4%
Price per s.f.-$151-UP 2.0%
% of List Price Received-97.4%-UP 0.2%
Active Inventory-3,247 units-DOWN 13.7%
Months Supply of Inventory-1.7 months-DOWN 26.7%
These numbers are all trending toward an even tighter seller’s market and I expect it will only get worse as spring continues. Call me if you or someone you care about needs help navigating these turbulent real estate waters!!!
Click here to read our April newsletter.
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!!
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