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Homes Under $300,000: A Seller's Market?

by O'Neil & Company Realtors

If you are considering the sale of your home this is absolutely an excellent time if your home value falls in the price range of $300,000 or below.  There is heavy demand around this price point and in some cases it is truly a seller's market. In fact, some properties are receiving multiple offers.  This is due to low interest rates, attractive FHA financing available in this price range and the $8,000 tax credit for first time home buyers.

If the home you are considering selling falls within a price range higher than $300,000, it may be more difficult to sell.  In fact the higher the price range of your home, the harder it is going to be to sell right now.  There is a clear cut line between homes being in a buyers market or a sellers market and the price dividing line seems to be in the $300,000 area. Don't look for any change here soon. 

Hamilton County looks like this:

There are a number of factors that will dictate the future of our real estate market these are:

1.  The national and local economy

2.  Mortgage interest rates

3.  Inventories of bank owned or other distress sale properties

4.  Extention of the $8.000 1st time home buyer tax credit (ends Nov. 1)

I will do my best to keep you informed in the months ahead.  If you are considering selling a home, let us know if you have specific questions about your home, your neighborhood or your options.

 

Homes Under $300,000: A Seller's Market?

by O'Neil & Company Realtors

If you are considering the sale of your home this is absolutely an excellent time if your home value falls in the price range of $300,000 or below.  There is heavy demand around this price point and in some cases it is truly a seller's market. In fact, some properties are receiving multiple offers.  This is due to low interest rates, attractive FHA financing available in this price range and the $8,000 tax credit for first time home buyers.

If the home you are considering selling falls within a price range higher than $300,000, it may be more difficult to sell.  In fact the higher the price range of your home, the harder it is going to be to sell right now.  There is a clear cut line between homes being in a buyers market or a sellers market and the price dividing line seems to be in the $300,000 area. Don't look for any change here soon. 

Hamilton County looks like this:

There are a number of factors that will dictate the future of our real estate market these are:

1.  The national and local economy

2.  Mortgage interest rates

3.  Inventories of bank owned or other distress sale properties

4.  Extention of the $8.000 1st time home buyer tax credit (ends Nov. 1)

I will do my best to keep you informed in the months ahead.  If you are considering selling a home, let us know if you have specific questions about your home, your neighborhood or your options.

 

Monday Morning Update

by O'Neil & Company Realtors

Activity slowed a little bit this last week as Hamilton County saw 57 homes go under contract and Marion County saw 204 homes go under contract.

Will Congress pass a bill giving all home buyers a $15,000 tax credit?  Recent word is that this bill currently waiting for vote just may have a chance at passing.  We saw what the $8,000 first time buyer tax credit did for the lower end of our housing market.  This tax credit is responsible for much of the recent improvement in the housing industry nationally.  The question is will a $15,000 tax credit for all home buyers do the same for the entire housing industry, including new home and the upper end price ranges?  Our opinion is yes and we certainly urge everyone to make contact with their representatives and urge passage of this bill.  Remember, the housing industry lead us into the current economic slump and it will lead us out.  With unemplyment numbers continuing to climb, a spike in home sales would put thousands back to work.  Not a bad idea at this time.

Have a great week

Happy Labor Day

by O'Neil & Company Realtors

Great video from an Indianapolis based company:

 

Displaying blog entries 1-4 of 4

Contact Information

Photo of O'Neil & Company Real Estate
O'Neil & Company
Encore Sotheby's International Realty
12411 N Pennsylvania St., Suite 300
Carmel IN 46032
317.848.0008
Fax: 317.660.4574

 

 

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