NOVEMBER 2022 MARKET UPDATE
Author: indianapolisareahomesforsale
You deserve an advocate in the home selling and buying process who will educate, guide with honesty & integrity your best interest at the core. You deserve to be represented by someone who knows the market, communicates promptly & is not afraid to negotiate. You deserve someone who will understand your expectations, advise throughout the process & market your home to achieve a top dollar offer.
It’s my honor & privilege to assist you. When you partner with me, I will provide the best customer care before, during & after the home sells. Using my extensive knowledge of the real estate industry & current markets, I will devote my time & efforts assisting you to make the best long term decision for your personal happiness & financial future.
You can depend on me to be well versed in the home selling and buying process & to share my network of professionals for your benefit.
My background is in banking, lending, sales and marketing. I'm dedicated to my Husband & two children; volunteering at church & helping my community is important to me. I'm tenacious, a strong communicator and achiever which has contributed to my professional success.
OCTOBER 2022 MARKET UPDATE
ONE LEVEL LIVING IN A FABULOUS, QUIET, ESTABLISHED NEIGHBORHOOD ON DESIREABLE CUL-DE-SAC.
REVIEW! The most thorough review I’ve ever received from a satisfied Seller – I’m blown away!
Highly likely to recommend
10/12/2022
Sold a Single Family home in 2022 in Indianapolis, IN.
Local knowledge: *****
Process expertise: *****
Responsiveness: *****
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.
Bottom Line
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.
Shawna O’Brien
F.C. Tucker Geist Fishers
shawna.obrien@talktotucker.com
317-506-0039
If You’re Thinking of Selling Your House This Fall, Hire a Pro
Today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house.
Here are five key reasons why working with a real estate professional makes sense today.
1. A Professional Follows the Latest Market Trends
With higher mortgage rates and moderating buyer demand, conditions are changing and staying on top of the latest market information is crucial when you sell.
Working with an expert real estate advisor helps ensure you can stay updated on what’s happening. They know your local area and follow national trends too. More importantly, they’ll know what this data means for you, and as the market shifts, they’ll be able to help you navigate it and make your best decision.
2. A Professional Helps Maximize Your Pool of Buyers
Your agent’s role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers. Investopedia explains why it’s risky to sell on your own without the network an agent provides:
“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home. A smaller pool of potential buyers means less demand for your property, which can translate into waiting longer to sell your home and possibly not getting as much money as your house is worth.”
3. A Professional Understands the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) explains it best, saying:
“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”
A real estate professional knows exactly what needs to happen, what all the fine print means, and how to work through it efficiently. They’ll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.
4. A Professional Is a Trained Negotiator
If you sell without a professional, you’ll also be solely responsible for all the negotiations. That means you’ll have to coordinate with:
- The buyer, who wants the best deal possible
- The buyer’s agent, who will use their expertise to advocate for the buyer
- The inspection company, which works for the buyer and will almost always find concerns with the house
- The appraiser, who assesses the property’s value to protect the lender
In today’s changing market, buyers are regaining some negotiation power as bidding wars ease. Instead of going toe-to-toe with all the above parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.
5. A Professional Knows How To Set the Right Price for Your House
If you sell your house on your own, you may be more likely to overshoot your asking price. That could mean your house will sit on the market because you priced it too high for where the market is now. Today, pricing a house requires even more expertise to ensure you get it right. NAR explains it like this:
“A great real estate agent will look at your home with an unbiased eye, providing you with the information you need to enhance marketability and maximize price.”
Real estate professionals know the ins and outs of how to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your home. These steps are key to making sure it’s set to move quickly while still getting you the highest possible final sale price.
Bottom Line
Whether it’s following local and national trends and guiding you through a shifting market or pricing your house right, a real estate agent has essential insights you’ll want to rely on throughout the transaction. Don’t go at it alone. If you plan to sell your house, let’s connect.
Shawna O’Brien
F.C. Tucker Geist Fishers
shawna.obrien@talktotucker.com
317-506-0039
Will My House Still Sell in Today’s Market?
If recent headlines about the housing market cooling and buyer demand moderating have you worried you’ve missed your chance to sell, here’s what you need to know. Buyer demand hasn’t disappeared, it’s just eased from the peak intensity we saw over the past two years.
Buyer Demand Then and Now
During the pandemic, mortgage rates hit record lows, and that spurred a significant rise in buyer demand. This year, as rates increased due to factors like rising inflation, buyer demand pulled back or softened as a result. The latest data from ShowingTime confirms this trend (see graph below):
The orange bars in the graph above represent the last few months of data and the clear cooldown in the volume of home showings the market has seen since mortgage rates started to rise. But context is important. To get the full picture of where today’s demand stands, let’s look at the July data for the past six years (see graph below):
This second visual makes it clear that, while moderating compared to the frenzy in 2020 and 2021, showing activity is still beating pre-pandemic levels – and those pre-pandemic years were great years for the housing market. That goes to show there’s still demand if you sell your house today.
What That Means for You When You Sell
The key to selling in a changing market is understanding where the housing market is now. It’s not the same market we had last year or even earlier this year, but that doesn’t mean the opportunity to sell has passed.
While things have cooled a bit, it’s still a sellers’ market. If you work with a trusted local expert to price your house at the current market value, the demand is still there, and it should sell quickly. According to a recent survey from realtor.com, 92% of homeowners who sold in August reported being satisfied with the outcome of their sale.
Bottom Line
Buyer demand hasn’t disappeared, it’s just moderated this year. If you’re ready to sell your house today, let’s connect so you have expert insights on how the market has shifted and how to plan accordingly for your sale.
Shawna O’Brien
F.C. Tucker Geist Fishers
shawna.obrien@talktotucker.com
317-506-0039
Indianapolis Area Homes for Sale 