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How Much Have Prices Really Declined?

Sunday, October 04, 2009

by O'Neil & Company Realtors

Good Monday Morning! Our Fall weather seems to have arrived as the leaves are starting to change and the mornings are becoming increasingly more brisk. Sales are up substantially over what we've seen in the past few weeks: Hamilton County had 78 homes go under contract and Marion County saw 218 homes go under contract for the week ending 9/25.

The Metropolitan Indianapolis Board of Realtors has released the August numbers and on the surface they they don't look too good, but we are trending in the right direction. The numbers that are often released are exceptionally broad in measure. When valuing real estate trends it is critical to look locally as all real estate is local in nature. The chart below breaks down the numbers by city as well as county. For an accurate valuation of your home, please CLICK HERE.

Still no word on extending the $8,000 home buyer tax credit. If you know someone looking to get this credit, I urge you to act now. The system will get log jammed at the end of November if measures are not taken to extend the credit. A delay in closing could be very costly.

Have a great week!

Indianapolis is One of the Strongest Housing Markets in the Country

Monday, January 19, 2009

Forbes Magazine recently named the Indianapolis Metropoloitan area as one of the 25 strongest housing markets in the country.

Quoting Forbes:
To compile this list, we asked Moody's Economy.com to compile a list of the country's real estate markets that are nearest to recovery. Moody's looked at the country's Census-defined metro areas--including metropolitan and micropolitan statistical areas--with populations over 500,000, and prepared forecasts through 2011. They then compared them to prices in the second quarter of 2008, which are the latest figures available, to calculate how far prices will likely fall before reaching bottom.

This is fantastic for the area and a welcome piece of good news in time of generally not so good news. These types of accolades reaffirm what those of us who live and work in the Indianapolis metropolitan area already know: we live in a great city!

You can view the entire article here:

http://www.forbes.com/2009/01/07/housing-cities-realestate-forbeslife-cx_do_0107realestatestrong.html

Carmel Zionsville Real Estate Hamilton County O'Neil