Real Estate Monthly, Vol. 1, Iss. 6

REAL ESTATE MONTHLY

VOLUME 1, ISSUE 6
JUNE 3, 2016

LISTINGS NEEDED!

The Elkhart County market is a strong seller’s market right now because the inventory is low. Low interest rates are a huge contributing factor because it increases the buyer pool for homes. More houses need to enter the market in order to relieve the supply/demand market pressure and normalize home prices. The values of homes have increased tremendously over the last couple of years and home values are above the pre-bubble burst in 2006-2008. The prices are increasing faster than traditionally expected. That will stop. Eventually market values may hold steady or decline for a few years before regaining normal appreciation. Increased listings now allow people to more easily find suitable housing. It will help people change their life’s adventures and see things from new perspectives. It will also help slow the tremendous appreciation currently in the market and help stop it from stagnating in the (near?) future.


Kosciusko County Market


April


Closings:
91 ⇧ 49% Y:Y


Median Closing Price:
$139,000 ⇧ 3% Y:Y


Median Days on Market:
81 ⇧ 113% Y:Y


New Listings:
131 ⇩ 20% Y:Y


Inventory: 
555 ⇩ 10% Y:Y


Sales / List Price:
95% ⇩ 2% Y:Y


Neutral Market

Elkhart County Market


April


Closings:
168 ⇧ 5% Y:Y


Median Closing Price:
$128,800 — Y:Y


Median Days on Market:
26 ⇩ 32% Y:Y


New Listings:
215 ⇩ 9% Y:Y


Inventory: 
717 ⇩ 11% Y:Y 


Sales / List Price:
97% — Y:Y


Sellers’ Market


The market update is the most current available due to data reporting and analytics by the state reporting board.


It’s the Right Time to FSBO

In a strong market a seller can “make out like a bandit” if they forego a REALTOR®. With some homes reaching double digit appreciation over the past year sellers who avoid the service fee charged by REALTORS® can increase their proceeds by nearly 20%. Too good to be true, right?

Traditionally only 9% of For Sale by Owner (FSBO) listings are actually sold by the owner. The remaining FSBOs end up listing with a REALTOR®. With a low housing inventory FSBOs may have more success and be able to command more revenue from their sale.

The increased revenue needs to be weighed against the seller’s marketing dollars spent, time commitment, and time on market. Often FSBOs sell lower than they think is a fair price. They try to attract buyer will a “discount” price since they are not paying a REALTORS® service fee (commission). Although they will probably pay the buyer’s agent’s fee.

When all is said and done the FSBO seller may come out ahead in the current market. It’s just a matter of how much their time is worth and whether expert advice would actually increase their bottom line. Selling a home is a stressful; it is not for the weak or faint of heart. In the end, when the dust settles, if the seller is satisfied with the transaction it was successful.



Did You Know?

Charles “Pretty Boy” Floyd was a Great Depression era gangster who was viewed positively by the general public.

When he robbed banks he would destroy mortgage documents which freed many citizens of their debt.



Before you buy your dad another power drill for Father’s Day, decide what type of DIYer he is. Then let that — and our gift suggestions — be your guide.

LISA KAPLAN GORDON | HOUSE LOGIC

There’s a tool for every dad, but not every dad is right for every tool. So before you hunt for a Father’s Day gift for Mr. Fixit (real or imagined), figure out your dad’s tool type. Then, take a look at these gift ideas that will fit him like a glove — a Mechanix Original glove ($25), to be exact.

Renaissance Dad

Your dad can do it all, and so can the versatile Micro-Max 19-in-1 Series ($10-$15) multi-tool — an itty-bitty 2-inch wonder that Dad can easily slip into his pocket. Armed with this little sidekick, he’ll be able to tighten, loosen, wire, drill, cut, file, and measure to his heart’s content. Included are: 2 hex wrenches, 6 screwdrivers, pliers, wire cutter, wire stripper, wire crimper, hand drill, file, bottle opener, 2 rulers, and 2 ruler extensions.

Show-off Dad

If your dad likes to look the part of a handyman (more than actually do the work), he’ll love Occidental Leather’s Adjust-to-fit Pro Framer Tool Belt ($258-$264) made from grain leather with copper rivets. It’s adjustable — from 32 to 41 inches — and sports 21 pockets and tool holders. Encourage Dad to strap on that bad boy, fill the holsters and pouches with every tool he owns, then parade around as if he knows what he’s doing. After that, time for a Father’s Day nap.

Hi-Tech Dad

Techno-savvy dads that love high-tech toys to help them around the house will adore DeWalt’s Self-Leveling Line Laser ($160). This smart tool will help Dad hang cabinets, install crown moulding, and mount picture frames so everything’s absolutely plumb and level. It features a magnetic bracket so it mounts easily on metal, and it’s a one-button operation.

Green Dad

Your enviro-friendly dad will love the RazarSharp Organic Shredder ($350) that reduces yard waste, turning small branches, weeds, and even kitchen scraps into mulch that your compost pile can easily digest and your garden beds will happily host. It’s electric, so no messing around with gasoline and pull cords. Come fall, the shredder will mulch your leaves, which Dad can spread on garden beds and let decompose during winter.

Disorganized Dad

For the dad who has every tool known to man (but nary a clue what he did with them), the Craftsman 26” Wide 5-Drawer Quiet Glide Bottom Chest ($240) is the perfect gift. Five generous drawers store all kinds of tools. The chest sits on casters for mobility and has a lock for security.

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