Great article from Realtor Magazine. Right now, buyers in the Indy area are still pretty picky. They feel like there are quite a few houses to choose from, but the truth is that the inventory in MIBOR (Metropolitan Indianapolis Board of Realtors) is shrinking. As a matter of fact, inventory is down a whopping 33% from the peak in 2007.
What this means is that soon we will be seeing more and more multiple offer situations. Buyers will begin getting frustrated over the lack of quality homes on the market. They will start being less picky, and prices will continue to go up. Homes will sell more quickly. I am already seeing this in the Indy area, I have seen more than once buyers need some time to “think about the house” and when they are ready to write the offer, it has already sold.
If you are a BUYER— NOW is the time. Right now there are still plenty of homes on the market, prices are still low, and interest rates are incredibly low. But don’t wait, this will NOT last. Things are changing, so call me now to get the home buying process started.
SELLERS— Right now you need to stay positive. Things are changing quickly. Make your home show as beautifully as possible, and price it right. It will sell. Sales prices are up nationally and locally and they will continue to rise. There is no need to wait until the Spring, call me now to get your home on the market.