Home Sales Expected to Continue Increasing In 2020

Home Sales Expected to Continue Increasing In 2020

With a decline in interest rates as well as home price and wage appreciation, many are wondering what the predictions are for the remainder of 2019. Freddie Mac, Fannie Mae, and theMortgage Bankers Association are all projecting home sales will increase nicely in 2020. Below is a chart depicting the projections of each entity for 2019, as well as for 2020. If you’re a homeowner who has considered selling your house recently, now may be the best time to put it on the market. Here’s what some of the experts have to say: Ralph McLaughlin, Deputy Chief Economist for CoreLogic “We see the cooldown flattening or even reversing course in the coming months and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and inventory picks up, we can expect the U.S. housing market to further stabilize throughout the remainder of the year.” Lawrence Yun, Chief Economist at NAR “We expect the second half of year will be notably better than the first half in terms of home sales, mainly because of lower mortgage rates.” Freddie Mac “The drop in mortgage rates continues to stimulate the real estate market and the economy. Home purchase demand is up five percent from a year ago and has noticeably strengthened since the early summer months…The benefit of lower mortgage rates is not only shoring up home sales, but also providing support to homeowner balance sheets via higher monthly cash flow and steadily rising home equity.” In Summary The housing market will be...
‘Black Friday’ of Homebuying

‘Black Friday’ of Homebuying

“Every year, ‘Black Friday’ is a highly anticipated event for eager shoppers. Some people prepare for weeks, crafting and refining a strategic shopping agenda, determining exactly when to arrive at each store, and capturing a wish list of discounted must-have items to purchase. But what about buying a home? Is there a ‘Black Friday’ for the home-buying process? Believe it or not, there is. According to a new study from realtor.com, the week of September 22 is the best time of year to buy a home, making it ‘Black Friday’ for homebuyers. After evaluating housing data in 53 metros from 2016 to 2018, realtor.com determined that the first week of fall is when buyers “tend to find less competition, more inventory, and the biggest reductions on list price.” The report explains, “During the first week of fall, buyers tend to face 26% less competition from other buyers, and they are likely to see 6.1% more homes available on the market compared to other weeks of the year…nearly 6% of homes on the market will also see price reductions, averaging 2.4% less than their peak.” What’s so different about the first week of fall? George Ratiu, Senior Economist with realtor.com says, “As summer winds down and kids return to school, many families hit pause on their home search and wait until the next season to start again…as seasonal inventory builds up and restores itself to more buyer-friendly levels, fall buyers will be in a better position to take advantage of today’s low mortgage rates and increased purchasing power.” Learn more about how prices, listings, and buyer competition stack up during the first week of fall in your metro area. Bottom Line If you...
Under Contract in a Matter of Days!

Under Contract in a Matter of Days!

Under Contract in a Matter of Days    When the market is hot & the home is priced right, there’s no telling how quickly it will sell!   Inventory is low, the market is on fire, therefore, it’s time to sell! We are definitely experiencing a seller’s market right now, especially in Lafayette/West Lafayette, and surrounding areas. Open houses have been busy and bustling from the moment the door unlocks and some of the homes listed below have had multiple offers with buyers willing to pay list price or MORE! BUYERS First of all, we are in the season of “bring your highest and best” so use a real estate agent who has YOUR best interests at heart. Furthermore, they should know the market, and understand the value of the home you are shopping for. – Bring your highest & best offer when given the opportunity. – Don’t get upset if you don’t get the first house you submit an offer on. – Get pre-approved & know EXACTLY how much you’re willing to spend. – Visit homes the DAY they hit the market so you don’t miss out. – Be patient with the process & your agent. SELLERS Looking to sell or even considering it? Make sure you talk to someone who knows the market, takes on new listings weekly, and knows how to price homes to sell. – Hire an agent who not only knows the value of your home AND homes in your area. – Since photos are so important, decluttered before the shoot. – Neutral colors help potential buyers see THEIR furniture in your home. As a result, you should probably paint that neon pink wall....
1-2+ Acre Lots Available in Bolivar Bluff, Bringhurst

1-2+ Acre Lots Available in Bolivar Bluff, Bringhurst

Break Ground in Bolivar Bluff! With 4 lots to choose from and many build options you are bound to find the property and look you desire in this tight-knit community located in Carroll County! This is a beautiful rural neighborhood with executive style homes on a hillside setting. Enjoy the community’s private stocked pond or walk a short distance to the historic Adams Mill, covered bridge, canoe launch or recreational area on the Wildcat Creek. Lot 1: 1.03 acres – Corner lot Lot 29: 2.14 acres – Corner Lot Lot 30: 1.98 acres – Cul-de-sac lot Lot 31: 1.33 acres – Corner Lot Bolivar Bluff is located about half way between Lafayette and Kokomo, roughly 25 miles in either direction. You will never be too far from large shopping centers and retails stores, while still able to enjoy the privacy and acreage that comes with rural living! Association By-Laws, Building Restrictions, and Plat Map available upon request. Contact The Romanski Group for more information (765) 293.9300 or click below: For up-to-date information on YOUR Indiana area neighborhood or a FREE Seller Consultation – call The Romanski Group at (765) 293.9100.  Using an experienced team is the way to get your home ‪SOLD‬! You deserve the BEST Realtor in the Lafayette Indiana area! Learn more about our Guaranteed Home Sale...
3 Reasons To Sell in 2017!

3 Reasons To Sell in 2017!

Get Moving!  Real estate experts predict that 2017 is set to be the year of the home seller.   HERE ARE 3 REASONS TO SELL NOW: 1.  Low Supply | High Demand Lower inventory and greater demand have pushed up home prices.  We have seen and experienced in Tippecanoe County that a shortage of inventory tends to keep home prices strong and has resulted in multiple offers and bidding wars.  Tight inventory is a main reason the ball is still in the sellers’ court. The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country.  These buyers are ready, willing and able to purchase… and are in the market right now!  Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market soon. Let’s Take a Closer Look at What’s Happening in Tippecanoe County: ONLY 321 residential homes on the market for sale (down from 478 at this time in 2016) 162 homes pending awaiting closing (down from 190 at this time in 2016) (per IRMLS Residential – January 2017)   2.  Anticipated Rise in Interest Rates: Mortgage rates have been rising since mid-October to around 4%.  Interest rates are projected to increase moderately over the next 12 months nearing 5%.  Even a small increase in rate will have a big impact on your housing cost.  While mortgage rates remain low, experts predict more buyers will enter the market in the coming months due to anticipated rising interest rates.  This could prompt buyers to start their house hunt...
Property Tax Exemption Deadline

Property Tax Exemption Deadline

The Property Tax Exemption Deadline in Indiana is Approaching! Are You Entitled to a Property Tax Exemption? Did you buy a home or refinance your mortgage this year?  If so, The Romanski Group of Keller Williams Realty wants to remind you to file your property tax exemptions by the end of the year!  If exemptions aren’t filed or confirmed by December 31 your taxes could go up substantially.  There are two main property tax exemptions that most homeowners may qualify for:  Homestead & Mortgage.  There are several other property tax exemptions that may be available to you as well. 1 – Homestead Exemption The homestead exemption simply means you are living in the home as your primary residence and it is not a rental house, vacation house, etc.  This is by far the most valuable deduction and can save you up to 50% on your property tax bill.  The homestead deduction is now filed for you in most counties at closing through the sales disclosure, but this is a great time to verify that it is indeed recorded. 2 – Mortgage Exemption The second common deduction is the mortgage exemption.  This deduction is available to homeowners who have a mortgage attached to their property.   Nobody likes paying a dime extra in taxes. Yet when it comes to property tax bills, some homeowners pay too much simply because they aren’t aware they qualify for an exemption.  Deductions are not given automatically, you must apply for them in the Auditor’s office. Tippecanoe County Auditor: (765) 423-9207 White County Auditor: (574) 583-5761 Carroll County Auditor: (765) 564-3172 Clinton County Auditor: (765) 659-6330 Howard...