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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!

INDIANAPOLIS HOMES UNDER $100,000!

HAMILTON COUNTY HOMES UNDER $200,000!

MULTI-FAMILY HOMES UNDER $100,000 IN MARION, HAMILTON & HANCOCK COUNTIES!

INDIANAPOLIS HOMES PRICED $100,000-$200,000!

HANCOCK COUNTY HOMES UNDER $200,000! 

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"!

Real Estate News!!!

Latest Realty News from NAR

How Many Active Listings Can you Afford to Buy in the 100 Largest Metro Areas?

Find out how many of the homes which are currently listed for sale you can afford to buy based on your income.

A typical household earning about $51,000[1] can afford to buy 36% of homes for sales in the United States, according to the REALTORS® Affordability Distribution Curve and Score (RADCS). The tool below, updated with August 2018 data, lets you find out what share of homes, which are currently listed for sale, you can afford to buy in the 100 largest metro areas based on your income.

Select a range that best describes the income that you earn. Hover over the map to see the percentage of homes which are currently listed for sale that you can afford to buy.

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The NAR Research Group and REALTOR.COM have partnered to conduct an analysis of affordability at different income levels for all active inventory on the market. The result of this analysis, the RADCS, shows that a household needs to earn at least $65,000 to afford more than half of the active housing inventory. Currently, the typical household, earning $51,000 can afford to buy 36 percent of homes for sale. Compared to a year earlier, housing affordability across the United States declined in August. The main reason for the decline is that housing inventory remains very low, causing affordability to weaken in most areas of the country.

Among the 100 largest metro areas, Los Angeles-Long Beach et al., CA was the least affordable metro area in August followed by San Diego-Carlsbad, CA and Oxnard-Thousand Oaks-Ventura, CA. In these metro areas, a household earning about $100,000 can barely afford to buy on average 12 percent of homes currently listed for sale. In contrast, the same household can afford to buy on average more than 90 percent of the housing inventory in Youngstown-Warren et al., OH-PA, Dayton, OH and Toledo, OH.

For more information, view the Realtors® Affordability Distribution Curve and Score data page.


[1] Based on Nielsen’s income distribution data

July 2018 Housing Affordability Index

At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates rose to 4.75 percent this July, up 14.7 percent compared to 4.14 percent a year ago.

  • Housing affordability declined from a year ago in July moving the index down 8.2 percent from 151.2 to 138.8. The median sales price for a single family home sold in July in the US was $272,300 up 5.2 percent from a year ago.
  • Nationally, mortgage rates were up 61 basis point from one year ago (one percentage point equals 100 basis points).

  • Regionally, the Northeast recorded the biggest increase in home prices at 7.0 percent. The West had an increase of 5.3 percent while the South had a gain of 3.1 percent. The Midwest had the smallest growth in price of 2.5 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The Northeast had the biggest drop in affordability of 10.3 percent. The West had a decline of 8.3 percent followed by the South that fell 6.8 percent. The Midwest had the smallest drop of 2.2 percent.
  • On a monthly basis, affordability is up from last month in three of the four regions. The Midwest had biggest gain of 7.9 percent. The West had an incline of 2.6 percent followed by the South with an increase of 2.1 percent. The Northeast had the only dip in affordability of 1.1 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 183.6. The least affordable region remained the West where the index was 101.2. For comparison, the index was 143.0 in the South, and 142.2 in the Northeast.

  • Mortgage applications are currently down 1.8 percent and mortgage rates are continuing to rise. Credit availability has declined which is a sign that there is constriction on lending standards. Job creation is up as well as new homes sales. As inventory increases, more buyers are likely to come into the housing market. Home prices are up 4.6 percent while median family incomes are only growing 3.2 percent.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

 

 

 

Homes Typically Sold in 27 Days in July 2018

Amid strong demand compared to homes for sale, REALTORS® reported that properties were typically on the market for 27 days, a shorter time compared to one year ago (30 days) and about the same level during the prior month (26 days), according to the  July 2018 REALTORS® Confidence Index Survey.[1]

During the May–July 2018, properties typically sold within one month in 32 states and in the District of Columbia, with properties selling most quickly in the D.C. metro area (17 days), Utah (19 days), Colorado, Idaho, Michigan, Ohio, South Dakota, and Washington (20 days).

Another indicator of how quickly properties are selling is the days on market on Realtor.com.[2]

In 381 out of 500 metro areas tracked by Realtor.com (76 percent) typically stayed on the market for fewer days in July 2018 compared to their median listing time one year ago, including in high price areas such as Jose-Sunnyvale-Sta. Clara, CA; San Francisco-Oakland-Hayward, CA; Los Angeles-Long Beach Anaheim, CA; San Diego-Carlsbad, CA; Bridgeport-Stamford-Norwalk, CT ; and New York-Newark, Jersey City, NY-NJ-PA. The decline in days on market in many areas indicates that demand is still broadly strong, with demand outpacing homes for sale.

However, there were fewer metro areas that had year-over-year faster selling times compared to July 2017 (395 metros). Metros where properties typically stayed much longer on the market longer in July 2018 compared to one year ago include Vallejo-Fairfield, CA; Madera, CA; Kennewick-Richland, WA; and Bend-Redmond, OR.  

Scroll down the list of metro areas in the interactive table below or hover over the map to view the median number days properties were listed on Realtor.com in July 2018 and one year ago.

Fastest-Selling Markets July 2018

 

[1] In generating the median days on market at the state level, NAR uses data for the last three surveys to have close to 30 observations. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and D.C., may have fewer than 30 observations.

[2] To access Realtor.com data, go to https://www.realtor.com/research/data/.

 

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Steve Shobe
Shobe & Boards, REALTORS

317-695-2308
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Testimonials

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
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