Indianapolis, Indiana is rounding the curves of a buyer's market which local Realtors hope will be helped by low interest rates.
"Located in Central Indiana, Indianapolis offers the best in "Hoosier Hospitality," says Says Realtor Sharilee Gray. "The Circle City has a variety of offbeat and exciting things to do and places to go. It doesn't matter if you're interested in basketball, history or high octane excitement, Indianapolis can provide friendliness and fun that is recognized far and wide.
"Mortgage interest rates are at an all time low, and home sales are up at a record pace," says Gray. "The cost of living and unemployment rates remain below the national average. Many home owners are putting their homes up for sale, anticipating a brisk spring market. The supply of homes in the marketplace for purchasers to consider is excellent. The average days on market remains about 90 days. The number of pending sales is up from this time last year."
"Right now in Central Indiana it is currently an awesome buyer's market with many of the homes needing a longer marketing period to sale," says Realtor Shari Mills, "The average buyer has the opportunity to tour an average of 10-12 homes before making a decision, and then negotiating the best price and terms.
Mills advises, "As a buyer there are three things you can do to ensure you get the home you really want. First, know what you need in a home. Second, get your full loan approval before going home shopping. This way you won't get as disappointed. And third, get the market value comparables from your agent then offer what it is worth, you do not want to lose your dream home because you wanted to deal!
"My best advise to sellers is set your price competitively the first time. Then review it every 30 days till it has an offer to purchase. Get rid of clutter. Offer to assist with closing costs up front. Create the best curb appeal that you can. Let the natural light in. Focus on your walls.And be flexible."
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Published: May 23, 2003
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