Real Estate Market Report for
Indiana 2014-2013 - a study of weather related seasonality on
IN) – Brett Martin (http://www.appraisers.in)
- Indianapolis appraiser and Indianapolis real estate agent:
By now you have undoubtedly received these latest statistics
from a local real estate agent:
The Indiana Real
Estate Markets Report today released by the state's REALTORS® shows
that statewide, when comparing January 2014 to January 2013, the following
number of closed home sales decreased 9.1 percent to 3,839,
median sale price of those homes increased 2.3 percent to $110,500,
average sale price increased 4.8 percent to $135,618,
percent or original list price received increased 1.7 percent to 91.4 percent,
number of pending home sales decreased 19.8 percent to 4,122, and
number of new listings decreased 20.7 percent to 6,916.
If you are considering selling this season, do not
fear!Seasonality and weather have long
affected sales in a negative way over the short term.Arguably the most comprehensive paper written
for further reading on weathers affects on sales is from the Federal Reserve
and available for reading here: http://www.federalreserve.gov/pubs/feds/2000/200008/200008pap.pdf
Kevin Eastridge, 2014 President of the Indiana Association
of REALTORS® (http://www.indianarealtors.com/)
stated "Last month we reported the fundamentals of most housing markets
across the state strong. But local housing markets were no match for Mother
Nature who gave us one of the snowiest, coldest Januarys on record, and delayed
closings and prevented showings all over Indiana," "Dangerous weather
conditions didn't stop with January's end, so we expect year-over-year
comparisons to lag for at least the next couple of months. The good news is
that home values held their own and the pent-up demand could make the spring
and summer very busy if and only if the inventory is present. Opportunity
is knocking loudly on the doors of potential sellers," concluded Eastridge.
Weather is not only chilling real estate activity.Diane Swonk, chief economist at Mesirow
Financial said in a recent CNBC article (http://www.cnbc.com/id/101389853) "We
already saw it in auto sales, it literally freezes the economic activity, and
you don't get the activity to resume until we get a thaw."
Weather has been cited as a factor behind a series of
squishy economic reports, including December's surprisingly weak jobs number
and the ISM manufacturing survey this week.
This winter will end and buyers will return.Our Indianapolis
appraisal products and marketing plans are ready when you are…rain or shine or
snow or…just call 317-345-4382.
Written by a Local Indiana Real Estate Expert
You Can Trust
"$ Thousands of Reasons to trust the Professionals in Home Appraisals…"
"Indianapolis Appraisal Associates has served thousands of clients for many years.
Often this has resulted in homeowners saving on their Property Taxes or getting
what they wanted when Buying or Selling their home."
"My house had erroneously been assessed..."
"I needed to have my property tax assessment lowered by about 30%...The home appraisal report home value gave me the ammunition"
L. Pisciotta , Indianapolis, IN
"Measurements have been wrong, I think, since I have owned this house --35 years or so..."
"I went to Washington Twp. Assessor's Office today and showed the county assessor your home appraisal. She brought their assessment down to your appraised home value and gave me back my senior exemption which had been taken away for 2007. I also was able to appeal (in a 2nd appeal initiated today) the sq. ft. measurements on my second floor and basement; the tax appeal will cover the three past years--the most that it can cover. You have helped me tremendously!"
A. M. , Indianapolis, IN
"People are really used to non-compliance and cutting corners and one's word and signature and professional credentials being sold down the river..."
"I appreciate your thoroughness and understanding of the spirit of the law behind protecting health & habitation, and I stand for that"
Tim Wilson, Winterwood Mortgage, Greenwood, IN
"I have interacted with many appraisers and appraisal management firms..."
"As President of Winterwood Mortgage Group, an active "agency" based lender in the central Indiana area that has originated over two billion dollars in residential mortgage loans,
I would have no difficulty in saying that Brett Martin is in the top of his profession
in both knowledge and performance. I do not offer these comments lightly but with all
Jim Landwerlen, President, Winterwood Mortgage Group, Greenwood, IN
"Your appraisal report is perfect and has been sent to the client!!"
"You did a great job..thanks also for the quick service…"
Timothy Pierce, Ball State Federal Credit Union, Muncie, IN
"Post Revisions: We have had none on your files..."
"Your reports are extremely well written..."
Quality Control, AMC , Indianapolis, IN
"I did not know where to start, but I wanted to become a homeowner..."
"After reading the book you gave me, "An Insider's Guide to Home Buying", I knew I needed expert help. Thank you for helping me avoid the pitfalls of buying a home by myself. I avoided paying more than I had to and now enjoy the benefits of homeownership."
Jennifer Martinache , Knoxville, IA
Indiana Homeowners - Clients
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