Indianapolis, Indiana is in the pits with a buyer's market, but what is one driver's disadvantage is another's opportunity. Local Realtors say now is the time to buy.
"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."
She 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.
- Get your full loan approval before going home shopping. This way you won't get as disappointed.
- 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!"
Mills suggests, "My best advice 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.
- Be flexible."
Says Realtor Sharilee Gray, "Located in Central Indiana, Indianapolis offers the best in "Hoosier Hospitality." The Circle City has a variety of off beat 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."
Gray says, "Mortgage interest rates are still low, and home sales are up at a record pace. The cost of living remains below the national average. Many homeowners are putting their homes up for sale and many are purchasing homes to take advantage of the low interest rates. The supply of homes in the marketplace for purchasers to consider is excellent. The average days on market remains about 90 to 120 days. The number of pending sales is up from this time last year."
Click here to view current Market Conditions in your location.
Published: August 13, 2003
Use of this article without permission is a violation of federal copyright laws.
