A WORD FROM STEVE! The interest rates and home prices are beginning to move, not much, but they are moving upward! The rates are still at a historical low and home prices are still low but things are going to start changing more, which also means the economy is improving! Sellers be aware that the inventory of homes are low, making the demand high! I had listings that I sold in a day and had multiple offers! This is a great time to put your home on the market since most of the repo's and short sale listings are gone. I need your listing because I have many buyers wanting to buy but we can't find the right home. Please contact me if you're interested in buying or selling! Also, we have teamed up with a credit repair company that's very agressive and could get your credit "right" in as litte as 30 days! Call or email me if you need their service and if you sign up we'll pay more than half of your initial fee! Thank you, and as always, happy home hunting!
Hello and welcome to my website! As you might notice, I have developed some short cuts to some of the popular locations in and around Indianapolis and all you need to do is click on the link of the area or areas you desire! Also, please note these are some of those listings, not all, if you wish to see all the listings in different price ranges and other areas, you will need to perform an advance search on this website. I have been a full time full service Realtor for over 33 years! I grew up on the east side of Indianapolis and attend Indianapolis Public School #69, Broad Ripple High School and Indiana University. I presently live and work in Lawrence Township and live within the city limits of Lawrence Indiana in the area of 79th & Sunnyside Rd. in the Bay Ridge sub-division. I attend St. Simon Catholic Church and sit on the Professional Standards Committee of MIBOR Realtors Association. Thank you for visiting and please visit often and I can help in all your real estate needs in Indianapolis, Fishers, Carmel, Noblesville, McCordsville and the surrounding areas. I am always available to you via phone, email, text or in person, just let me know what I need to do to make your real estate sale or purchase smooth and "trauma free"!
Posted on 23 Apr 2019
by Michael Hyman, Research Data Specialist
NAR released a summary of existing-home sales data showing that housing market activity this March, fell 4.9 percent from February 2019. Despite February’s gains, sales of existing-homes dropped 5.4 percent from March 2018. March’s existing-home sales reached a 5.21 million seasonally adjusted annual rate.
The national median existing-home price for all housing types was $259,400 in March, up 3.8 percent from a year ago. This marks the 85th consecutive month of year-over-year gains.
Regionally, all four regions showed growth in prices from a year ago. The Midwest had largest gain of 4.6 percent followed by the West with a gain of 3.1 percent. The Northeast had an increase of 2.5 percent followed by the South with an incline of 2.4 from March 2018.
March’s inventory figures are up from last month 3.1 percent to 1.68 million homes for sale. Compared with March of 2018, there was a 3.2 percent increase in inventory levels. It will take 3.9 months to move the current level of inventory at the current sales pace. It takes approximately 36 days for a home to go from listing to a contract in the current housing market, up from 30 days a year ago.
From February 2019, all four regions showed declines in sales. The West had the biggest dip in sales at 7.9 percent followed by the West with a decline of 6.0 percent. The South fell 3.4 percent followed by the Northeast with the smallest drop of 2.9 percent.
All four regions showed declines in sales from a year ago. The West had the biggest drop in sales of 10.7 percent followed by the Midwest with a decline of 8.6 percent. The South fell 2.1 percent followed by the Northeast dip of 1.5 percent. The South led all regions in percentage of national sales, accounting for 43.8 percent of the total, while the Northeast had the smallest share at 12.9 percent.
In March, single-family sales were down 4.9 percent and condominiums sales were down 5.3 to last month. Single-family home sales fell 4.7 percent and condominium sales were down 11.5 compared to a year ago. Single-family homes had an increase in price up 3.8 percent at $261,100 and condominiums rose 3.6 percent at $244,400 from March 2018.
The Silent Generation, buyers aged 73 to 93 years, made up the smallest share of buyers by age at only seven percent of all home buyers in 2018. The median age for this group was 76 years old and they were born between 1925 and 1945. They tended to have the smallest families; 96 percent of these buyers had no children living at home under the age of 18 years and they made up the same share of single female buyers as Younger Boomers at 25 percent. Of the generations, buyers 73 to 93 years bought fewer multi-generational home at 13 percent. For those that purchased a multi-generational home, the reason was for the health and caretaking of aging relatives at 13 percent.
The Silent Generation had the smallest share of first-time home buyers at only four percent, which was expected for their age group. Correspondingly, they made up the largest share to move directly from a home that they owned at 82 percent. They also had the lowest median household income at $69,600, likely living off retirement funds. They managed their finances accordingly and bought homes with the secondlowest median home price at $243,000. They also purchased some of the newest homes last year with a median year of 1996.
Buyers aged 73 to 93 years also bought new homes at 14 percent and wanted the amenities of new home construction communities (23 percent). These buyers were the most likely to purchase a duplex, apartment, or condominium at nine percent, or a townhouse at 10 percent. They were also the most likely to buy a home in senior-related housing at 29 percent. These buyers wanted a home convenient to friends and family (47 percent) and for the convenience to shopping (34 percent). They were the least likely to buy homes in an area for the quality of the school district, convenience to schools, or for the convenience to a job. They were also the least likely to compromise on the condition of the home (16 percent). The Silent Generation also bought frequently in a rural area at 23 percent.
The age group of buyers 73 to 93 years were the highest share among the generations to purchase for the desire to be closer to friends and family (27 percent) and for a smaller home (17 percent). They had an expected tenure in the home at a median of 10 years. They were the most likely to move due to a household member’s health and least likely to want a larger home.
Posted on 17 Apr 2019
by Scholastica (Gay) Cororaton, Research Economist
International clients are an important niche market for residential and commercial REALTORS® alike. In the latest 2019 Commercial Real Estate International Business Trends, NAR reported that foreign buyers purchased $4.8 billion of U.S. commercial real estate in 2018. The median value for a buyer-side transaction was $600,000, while the median value for a seller-side transaction was $1 million. The dollar volume of foreign buyer purchases of U.S. commercial property declined in 2018 compared to the $6.7 billion in 2017 and $7.9 billion in 2016 as the economic expansion slowed in Asia (e.g., China, Japan), Canada, Europe (e.g. United Kingdom, Germany, France, Italy, and Spain), and Latin America.
Major Buyers of Commercial Property
Asia was the largest source of U.S. commercial property buyers, accounting for about a third (34 percent; 28 percent in 2017) followed by the Canada and Latin America (29 percent; 25 percent in 2017), Europe (20 percent; 29 percent in 2017), Middle East (10 percent; 12 percent in 2017), Oceania (2 percent; 1 percent in 2017), and from other countries that were not identified by respondents (3 percent; 6 percent in 2017).
The top foreign buyers of commercial property were China (21 percent), Canada (7 percent), Mexico (6 percent), Germany (5 percent), India (5 percent), Israel (5 percent), United Kingdom (5 percent), Venezuela (5 percent), Vietnam (5 percent), and Italy (4 percent).
Major Destinations of Buyers of Commercial Property
Florida was top choice among foreign buyers of U.S. commercial property (20 percent) followed by Illinois (13 percent), Texas (11 percent), and California (9 percent). Other top destinations were Georgia, New York, Virginia, Hawaii, Maryland, Massachusetts, Nevada, New Jersey, and Oklahoma.
Financing and Types of Property Purchased
About half of commercial foreign buyers, 52 percent, made an all-cash purchase (70 percent in 2017), and 25 percent obtained financing from a U.S. source.
International commercial buyers purchased across a variety of property types, but apartment was the most preferred, at apartment (19 percent), followed by retail (16 percent), land (12 percent), industrial (11 percent), office (9 percent), hotel (9 percent), and other types.
The bulk of foreign buyers of commercial property purchased the property as an investment to be rented out (39 percent in 2017), and 33 percent purchased the property for a business they participate in (34 percent in 2017). The Other category, which accounted for 22 percent (16 percent in 2017), includes a purchase of the property for residential and business-related uses.
Reasons Foreign Client Decided Not to Purchase U.S. Commercial Real Estate
One in five international clients decided not to purchase U.S. commercial properties in 2018 (17 percent in 2017). Understandably, the primary reason deterring a purchase is cost and exchange rate changes (36 percent of clients who decided not to purchase; 30 percent in 2017).Other major reasons are the buyer “could not find a property” (31 percent of clients who decided not to purchase), difficulty moving money out of the country (22 percent; 17 percent in 2017), tax-related issues (22 percent; 17 percent in 2017), immigration/visa (9 percent), and difficulty obtaining financing (9 percent).
Shobe & Boards, REALTORS 317-695-2308 Email Me
Dear Steve ,
We appreciate everything you've done to help our buying transaction went so smoothly and especially the septic issue! 😊
Thank you for being such a thoughtful ,kind and experienced agent that we totally relied on . We will keep you in mind if any of our friends wants to sell or buy a house .
Have a wonderful day .
Gary & June Cole
Dear Steve: We are so excited to be settling in next week. Thank you for all of your work and muddling through the aggravation. We will certainly give your contact info to anyone we come across in need of a realtor. We think our new home was a great deal, too! I hope that you celebrate a long awaited payday in a special way! God Bless you, Steve!!Your Friends, Mick and Melissa