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!
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