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.