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.

The Market is Heating Up!

The local market is really heated up with the announcement of many new jobs, low interest rates and a positive vibe which is prevelant throughout the community.  Now is a great time to consider making a move and taking advantage of rates.  The prevailing thought in the markets is interest rates will rise within in the next twelve months as our economy continues to strengthen.  This is why it is a good time to consider moving to increase the overall amount of buying power you may have.  For more information, please contact Rob Millman at (812) 528-3028.

Spring Market Update!

Seymour and the Jackson County Community should be very proud this year with the announcement of over 729 new direct jobs in our community.  These new jobs will cause our community to grow as there will also be many new indirect jobs created due to the primary employment provided by these industries.  We are very fortunate to be able to experience this growth, and now is the time to position the real estate community to prepare for this growth with additional housing.  Note the new jobs and promised investment to our community. 

Aisin	114 New Jobs	$22 Million Promised Investment
Cummins Engine	290 New Jobs	$219 Million Promised Investment
Pet Supplies Plus	135 New Jobs	$10 Million Promised Investment
Valeo-Sylvania	190 New Jobs	$37.7 Million Promised Investment
Total Announcements	729 New Jobs	$288.7 Million Promised Investment

This year our real estate market is experiencing an undersupply of inventory which has placed us in our seller’s market.  A seller’s market is indicative of low inventory levels, home values generally rising with ease, and there are considerable signals of strength in the market.  It does not indicate a seller can demand any price they wish, however if price, condition and location are complimentary, a home has a greater likelihood to sell. 

Our marketplace, especially in Seymour needs additional housing to fulfill the upcoming needs with the promised new employment.  Currently, the Seymour market is about 85 -90 homes short of a balanced inventory with the demand for an additional 90 more homes needed by 2016.  For additional information about these projected and specific needs, please contact me.

Local Interest Rates – April 27^th, 2012

Financial Institution	30 Year Fixed Rate (Zero Points)	15 Year Fixed Rate (Zero Points)
Bloomfield State Bank	3.500%	2.875%
Centra Credit Union	3.875%	3.125%
Dupont State Bank	4.000%	3.375%
First Financial Bank	4.000%	3.250%
Indiana Bank & Trust	3.875%	3.250%
Jackson County Bank	4.000%	3.250%