Month: October 2022
REVIEW! The most thorough review I’ve ever received from a satisfied Seller – I’m blown away!
Highly likely to recommend
Sold a Single Family home in 2022 in Indianapolis, IN.
Local knowledge: *****
Process expertise: *****
Negotiation skills: *****
“Hello Future Home Buyers and Sellers, I do not often write reviews because unfortunately, today, there are not many (individuals/businesses) of whom in my humble opinion warrant one. I’m hoping this will change.
Now, with that being said I would like to express my experience with the very impressive, Shawna O’Brien, who more than deserves a 5-star rating. Originally, I was going to list my home as “For Sale by Owner.” However, long story short I stumbled upon Shawna’s business card and decided to give her a call. This by far was the best decision I made during the entire home selling process.
Examples: * From our initial phone call, Shawna’s 20 years of experience was evident in her communication skills in addition to her knowledge and expertise. Very impressive! * I cannot say enough about Shawna’s responsiveness. No matter what time of day she was quick to respond in whatever manner you requested. Text, E-mail, and phone. Or, all three! * I’m going to add another rating: ‘Tenacity’ = 5-Star Shawna’s ability to go after what is necessary for her client is exemplary. >
I was having difficulty with my Home Warranty company due to the contractor sent to my house regarding plumbing issues. Well, before I knew it…Shawna had contacted the Home Warranty company in addition to the contractor expressing concern and the importance of this being resolved as soon as possible as a closing date had been scheduled. Unfortunately, the contractor was not cooperating and thanks to Shawna, she provided the names of a few plumbing contractors and the Home Warranty company agreed to pay the full cost in addition to reimbursing my co-pay. >
After my home inspection, it was discovered I needed a new roof. Time was running out and yes, Shawna once again came through with a couple of companies to choose from. The company I selected had my old roof removed and replaced within 6 days. These are just a couple of examples in which Shawna played a key role that went above and beyond anything I expected.
There are many other instances; however, not enough space to write it. (I must add Shawna also offered to assist me in packing or anything else to get the house ready for market if needed.) My listing with went live on 08.13.22 and had an offer for the asking price less than 24 hours later.
I was able to close less than 30 days later on 09.09.22. Well done Shawna and thank you! In closing, I would like to add I have already discussed a couple more sales with Shawna and could not think of anyone else I would want to represent me.
I highly recommend anyone who is looking to sell or purchase a home, look no further than Shawna O’Brien…you will not be disappointed. (Plus, Shawna has a multitude of contacts with more than one option should you get into a pinch.) Respectfully, An Extremely Satisfied Client”
SEPTEMBER 2022 MARKET UPDATE
Following the trend of the past few months, September home sales in central Indiana once again decreased, while average sale prices and available inventory continued to increase. Monthly real estate statistics from F.C. Tucker Company found that central Indiana year-to-date home sale prices increased 13.2 percent, and available inventory also continued to increase, up 55.5 percent, compared to September 2021. Pended home sales decreased by 19.4 percent.
SEPTEMBER 2022 MARKET UPDATE
The True Strength of Homeowners Today
The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are homeowners throughout the country? Mortgage debt grew beyond 10 trillion dollars over the past year, and many called that a troubling sign when it happened for the first time in history.
Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said:
“U.S. households own $41 trillion in owner-occupied real estate, just over $12 trillion in debt, and the remaining ~$29 trillion in equity. The national “LTV” in Q2 2022 was 29.5%, the lowest since 1983.”
She continued on to say:
“Homeowners had an average of $320,000 in inflation-adjusted equity in their homes in Q2 2022, an all-time high.”
What Is LTV?
The term LTV refers to loan to value ratio. For more context, here’s how the Mortgage Reports defines it:
“Your ‘loan to value ratio’ (LTV) compares the size of your mortgage loan to the value of the home. For example: If your home is worth $200,000, and you have a mortgage for $180,000, your LTV ratio is 90% — because the loan makes up 90% of the total price.
You can also think about LTV in terms of your down payment. If you put 20% down, that means you’re borrowing 80% of the home’s value. So your LTV ratio is 80%.”
Why Is This Important?
This is yet another reason we won’t see the housing market crash. Home equity allows homeowners to be in control. For example, if someone did need to sell their home, they likely have the equity they need to be able to sell it and still put money in their pocket. This was not the case back in 2008, when many owed more on their homes than they were worth.
Homeowners today have more financial strength than they have had since 1983. This is a combination of how homeowners have handled equity since the crash and rising home prices of the last two years. And this is yet another reason homeownership in any market makes sense.
F.C. Tucker Geist Fishers