February 5, 2012
Greetings Friends! I struggle with where to start in trying to sum up last year and give you my thoughts on real estate in 2012. There are so many issues that could be addressed at length, but I’ll try to keep this as short as possible. Central Indiana real estate has not been impacted as severely as many other areas of the country, but we certainly feel the same pressures including high unemployment, pay cuts, bank foreclosures, short sales, low appraisals, mortgage approval difficulties and lack of confidence in government… and the list goes on. People are concerned, scared, and cautious. On the positive side, homes are selling in our marketplace. In fact, homes that are priced properly and in good condition with appropriate updates, are selling rather quickly. Those houses that are overpriced and in need of repairs or updating are lingering on the market, but this is true even in a strong economy. Enclosed is a 2010 vs. 2011 market update prepared by the Metropolitan Indianapolis Board of Realtors comparing our major marketing areas. Generally speaking, in most of the categories measured, the markets remained reasonably consistent. Days on the market, however, increased in most areas last year. Based on all that I hear and read from the “experts”, I don’t expect to see much change in the market this year. Foreclosures and short sales will increase, thus preventing property values from increasing. The Fed intends to keep interest rates low, probably staying in the 3.25% – 4.25% range. The Bottom Line: This is still a very good time to buy a house! If we haven’t bottomed out, we are close to it. A word of warning though -‐ in tough times like this it is even more important than ever, whether you are buying or selling, to have an agent you trust, with years of successful experience, on your side. There is too much that can go wrong in today’s world to rely on an unseasoned agent. With that being said, please don’t forget about me when you hear of friends or family in need of real estate services. If they have any questions about the process, have them call and I’ll help in any way possible. If you would like to review my Marketing System for Results or Buyer System for Results, please let me know. With Andee and Sheila as invaluable assistants, and Cheryl as a tremendous resource for marketing, we are ready to tackle any real estate issue. I appreciate the trust and confidence that you have placed in my team and me. For those of you who referred buyers or sellers to me, I can’t thank you enough. You are the lifeblood of my business and I could not enjoy the success I’ve had without your help and support. Wishing you all a happy, healthy and prosperous 2012!! Regards, Roger If you closed on a property in 2011, I have enclosed a copy of your HUD, just in case you misplaced the copy you received at closing.
Published on Feb 15, 2012
Letter summarizing the state of Indianapolis real estate, as well as predications for 2012. Included is a market update comparing 2010 to 2...