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An Optimistic Approach to the Real Estate Market!

Posted by kim carpenter on February 26, 2009
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I attended a “State of the Indianapolis Market” presentation sponsored by Centex Homes yesterday!  It was nice to see an optimistic approach to our market instead of the doom and gloom the media spills out on a daily basis!!  The following is what I took out of the presentation:

  • With today’s rates, you can purchase a home in the $200K range for what you could buy a $150-$175K home in 2006
  • Lawrence Yun – Chief Economist for the National Association of Realtors feels that the new legislation will bring 300,000 additional first time buyer’s to the market and for every first time buyer purchase, two homeowner’s move up, creating an additional 600,000 purchasers for a total of 900,000 additional buyer’s in 2009.  If Indianapolis could capture just 1% of those buyer’s that would be an addtional 9,000 buyers.
  • There is mortgage money available!!  You will need at least a credit score of 620.
  • The spec inventory for home builders is dropping, so the market is begininng to stabilize.
  • The speaker’s opinion is that our market has bottomed and will begin on the upswing in Mid 2009.
  • For every 1000 homeowners that save $100 saves a month by refinancing, puts $1.2 million dollars back into the local economy
  • For additional market conditions, go to www.mgresearch.net
  • Get a good Credit Improvement Company:  Verocity 1-866-518-2190 or Eddie Johansen of Credit Security Group 1-214-295-4459

If we take nothing more out of this than optimism, then I say “Go For It”  It is a good time to buy!!

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Kim Carpenter “Kimsellsindy.com” – Geist/Indianapolis Real Estate Agent
Keller Williams Realty Indy Metro NE
Geist/Indianapolis IN Real Estate Website
317-509-4000

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