The end of another summer and the start of another school year. Why does it seem like the older we get, the shorter time seems to be? Ana is in her senior year at Guerin Catholic and we are finishing up applications for colleges. Clemson is still her #1 choice, by far. She is making the most of her senior year by being involved in a lot around school from Deca to school choir to managing the varsity women’s soccer team, to attending football games on Friday nights. Time is going so fast and before we know it, we will be posting move-in photos for college next year!!
Natalia is in 7th grade at Westfield Middle School and is heavily involved in competitive cheer. She is still cheering at ICE, which is her All-Star cheer team as well as her school sideline cheer team for football games and her school competition team. The school cheer teams are new for her and so far she really enjoys them. Many of her ICE teammates are also on the school team, so she knows many of them already.
Brigid is still rocking it at Merck and is taking on more and more responsibility as they roll up a division under her. She is much busier than she was as a field rep, but loves every minute of it. So very proud of her!!!
My biggest news is that I turned 50 a couple of weeks ago! While it is just a number and another day, it IS quite the milestone and the alternative isn’t too appealing! Brigid threw me a nice party (it wasn’t a surprise party) and it was so nice to see so many friends and neighbors.
Thea has been enjoying this shifting market and having more than 5-minutes in order to see and write an offer on houses for her buyers!! She has been keeping busy with not only quite a few buyers, but also working at Greekfest and she is the Council Chairwoman for the Westfield Young Professionals who are organizing an amazing Young Professionals Leadership Conference on September 8th. We are also a sponsor. If you or someone you know is under the age of 40, we would LOVE to have you attend and there are a few tickets still remaining. E-mail Thea at thea@Welcome2Indy.com and she will get you registered.
Kylie has been focused on getting her kiddos back in school over the past couple of weeks. Trey is a freshman at Carmel High School. That is always a significant transition from elementary school, but he is doing well. Jax is starting kindergarten this year, which is also a huge transition and he has been so excited!! On top of this, Kylie organized our first Broker Progressive Open House for a builder we represent, Olthof Homes and she just knocked it out of the park!
We hope you were able to make our Party in The Park a couple of weeks ago. We had a great time with some amazing live music courtesy of The Beatless, Kona Ice truck, photo booth, caricature artist, magician, and games, food, and drink. If you missed it, we hope to see you at an upcoming event soon!!
Speaking of upcoming events, join us for our Happy Hours! They are always the 3rd Thursday of each month from 5-6:30pm at Matt The Miller’s in Carmel. Food and drinks are always on us! Thank you to our sponsor last month Jonathan Walla with Walla Painting. They are our go-to painter for not only all of our clients, but also personally. They do an amazing job, are trustworthy and very competitive on price. If you are considering a painting job soon, give Jonathan a call at 317-999-8124. Tell him I sent you. Join us for our next Happy Hour on Thursday, September 15th. RSVP to events@Welcome2Indy.com by September 13th.
Thea and I are hosting virtual Buyer and Seller Workshops monthly. If you or someone you know is thinking of buying, selling, or building in the next year, please join us. We will be talking about what the process looks like, the most common mistakes we see people make and how to avoid them and answer any questions you have. This is a laid-back, conversational hour of learning. Steve’s next Seller Workshop is at 7pm on September 13th and Thea’s next Buyer Workshop is at 5:30pm on September 28th. RSVP via the Eventbrite link you should have received or just e-mail us and we will get you signed up. steve@Welcome2Indy.com or thea@Welcome2Indy.com
Based on the feedback, we know you want an all-expense paid vacation!!! Our next $5,000 vacation giveaway is coming up in 2-weeks!! Call us from 11:30AM-5:30pm on Tuesday, September 13th and we will get you registered for the $5,000. If you give us a referral, we will add 5 entries PER REFERRAL! The phone number to call is 317-975-1511. We hope to hear from you!
There has been a LOT of talk lately about the economy and especially real estate. Interest rates have gone up for the moment, but are still below the 40-year average of 8%. Also, housing inventory is creeping back up again and that is a welcome change from the 2-week inventory we have had for the past year! We are still only at 1-month of supply and we should be around 6 months +/-.
We are expecting mortgage interest rates to fall starting Q4 of this year as we have entered an official recession and history has shown us that interest rates have fallen in every one of the past 6 recessions. None of the economists or industry leaders I have heard believe this will be a long or deep recession and we should pull out of it by summer 2023. Time will tell if they are correct or not.
Is our market overvalued?? Recent news stories would have you believe so, however consider this-the average appreciation rate for the US over the past 40-years is ~4%. If you set a trend line of 4% over those 40-years and extend it to today, we are right where we should be! This takes into account The Great Recession as well as our recent boom. Will some markets around the US depreciate slightly?? Most likely yes. I do not believe Indianapolis will be one of them and neither do any of the economists with whom I have spoken.
This is still a great time to buy or sell. You have never been able to get as high of a price for your house as you will today. If you are a buyer, you DO have more time and inventory from which to choose. As the adage goes, Marry the house and date the rate! Want more info or info specific to YOUR situation, please e-mail me at Steve@Welcome2Indy.com.
Below are some market stats courtesy of MIBOR comparing July 2022 to June 2022:
Median Sales Price-DOWN 1.8% to $294,500
Closed Sales-DOWN 9.8% to 3,404 units
New Listings-DOWN 17.8% to 4,087 units
Pending Sales-DOWN 0.7% to 3,585 units
Days on Market-UP 28.6% to 18 days
Price per s.f.-DOWN 0.6% to $168
% of Ask Received-DOWN 1.2% to 100.7%
Active Inventory-UP 12.8% to 3,866 units
Absorption Rate-UP 22.2% to 1.1 months
Have a great Fall and we hope to see you at some of our upcoming events!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
Click here to read our September newsletter
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