Spring 2014 - A Great Time to Jump into the Market!

Spring 2014 poses to be a strong real estate market in South Central Indiana.  There is currently good demand for housing with many available jobs especially in the Seymour and Columbus marketplaces.  Interest rates continue to hover in the high 4% range making it very affordable to live.  The property tax rates in Jackson and Bartholomew counties are quite reasonable when compared to counties like Hamilton or other areas of the country.  The supply level makes it a very good time to sell as most sellers will experience increased values, this past year our area experienced approximately a 11-12% increase in home values compared to the prior year.  The latest reported unemployment rate in Jackson County is 5.7% and for Bartholomew county 5.1%.  The current state rate is 7%.  Jackson County is experiencing lower unemployment than any of its surrounding counties with the exception of Bartholomew. 

Of course, this is an election year and interest rates are anticipated to move into the 5% range by mid-year.  If you are remotely thinking of selling or buying, you should seriously consider jumping into the market.   For additional information, please contact Rob Millman.

If you are a seller thinking of moving, now is the best timeframe for you to capitalize on the highest values based upon where our market is in the cycle.  This window of opportunity will only be available for a limited time, so take advantage of this moment now.  If you are a builder, now is the time to build to create inventory.  I welcome the opportunity to help you understand where we are in the market and the opportunity available for this spring.  Please call me for a no obligation market valuation at 812-528-3028.

Market Update

The Jackson County Real Estate Market is quite robust at this time as noted by the number of active listings in the Seymour City marketplace.   This affects the number of months of supply

in the market; there are currently 52 pending sales in Jackson County,  of which 25 of these homes are located in Seymour.  The velocity of our market would increase with more inventory

as there are many buyers seeking home ownership opportunities.  The Seymour market is approximately 110 houses short of an in-balance inventory.  The combination of low interest rates, local employment levels and lack of new construction has contributed to this situation. The latest posted unemployment rate for Jackson County is 7.2% which is lower than the current

state and national rates.  

If you are a seller thinking of moving, now is the best timeframe for you to capitalize on the highest values based upon where our market is in the cycle.  This window of opportunity will only be available for a limited time, so take advantage of this moment now.  If you are a builder, now is the time to build to create inventory.  I welcome the opportunity to help you understand where we are in the market and the opportunity available for this spring.

IBJ News Release

October Market Update

The Jackson County Real Estate Market continues the accelerated pace with 73 pending transactions as of today, and 67 residential closings reported in the past 90 days in our market.  The Average Days on Market is 71 Days.  Our market is still experiencing a shortage of available listings as noted in the number months of supply available.  Now is a great time to enter the market to take advantage of the low interest rates and local lenders are definitely loaning money.

For more information in regard to the dynamics of our local market, the real estate cycle and general market questions, please contact me at rmillman@prudentialindiana.com or (812) 528-3028.

Have a Super Day!

Local Interest Rates – October 1, 2012

Financial Institution	30 Year Fixed Rate (Zero Points)	15 Year Fixed Rate (Zero Points)
Bloomfield State Bank	3.125%	2.375%
Centra Credit Union	3.125%	2.875%
Dupont State Bank	3.375%	2.750%
First Financial Bank	3.375%	2.875%
Jackson County Bank	3.125%	2.875%
Main Source Bank	3.500%	2.875%
Old National Bank	3.250%	2.750%

Who should I choose to be my Realtor?

Whom should I choose as my Realtor?  This is a great question, and you will find my comments today among the thousands of articles and posts written about this subject.  The answer to this question is actually very simplistic.  The best Realtors are generally those who continually strive to improve themselves seeking new designations like GRI, CRS, ABR and CCIM.  Why is that important?  Generally it is because it means they are serious.  The second criteria is to choose someone who is familiar with the market place; maybe this actually should be number one on the list.  You need someone who truly has your best interests at heart, you know they have your back!  Many Realtors suggest this is their ‘M-O’, however it is good to ask for references which include the name, phone number and email address of past clients so you may verify their experiences. 

Also, my personal belief is to choose a Realtor who is able to communicate with you the way you desire to be communicated with.  If you are a texter, make sure the broker is willing to text; if you like email, make sure your broker is willing to email and keep you abreast of the market; and if you prefer a phone call and one-on-one communication, then by all means choose that broker. 

The market is continually moving, interest rates, inventory, financing programs are constantly changing.  It is imperative you work with a broker who is cutting edge to handle keeping abreast of the latest trends to help you.

As a final note, seek someone you feel comfortable with and be sure to conduct your own due diligence rather than just depend upon the recommendation of one individual of whom you may or may not really know.  For more tips and advice, contact Rob Millman at (812) 528-3028.

Late Fall 2012 Market Notes

Local bank interest rates remain amazingly attractive as the 30 year fixed rate hovers between 3.10-3.50% depending on which lender you call.  Now is a great time to consider re-financing or making that move to your dream house.  The greatest challenge is the inventory in our area is very tight and new buyers are entering the market every day.  This makes the demand for property high.  Of course, if you are selling, take note of the axiom (price, condition and location).  Every property has a price based upon the value a buyer is willing to attribute to your property.  It is important to have your home in showing condition which means clean and updated floor coverings, fresh paint, and attention given to deferred maintenance issues; and obviously, a given is to deep clean your home.  If you are thinking of entering the market and would like a market evaluation for your home, or perhaps a list of available properties, please contact Rob Millman at (812) 528-3028.