Real Estate Monthly, Vol. 1, Iss. 9

REAL ESTATE MONTHLY

VOLUME 1, ISSUE 9
SEPTEMBER 2, 2016

WELCOME TO ELKHART COUNTY

elkco-courthouseIt’s an exciting time to be a seller in Elkhart County. The county is experiencing a housing shortage. There may be a very good reason. The Goshen / Elkhart area is recognized as the number 10 American city adding the most jobs over the last four years. Goshen / Elkhart is the only Indiana metro in the top 10. Indianapolis / Carmel / Anderson was 17 and South Bend / Mishawaka 42. Seven Indiana metros were in the top 50. With SB / Mishawaka and Goshen / Elkhart being fast growing communities it is time for sellers to capitalize in this sellers’ market. It’s no longer time to sit on the fence, it’s time to make a bold move.


Kosciusko County Market


July


Closings:
91 ⇧ 1% Y:Y


Median Closing Price:
$155,000 ⇩ 10% Y:Y


Median Days on Market:
48 ⇩ 23% Y:Y


New Listings:
123 ⇩ 23% Y:Y


Inventory: 
599 ⇩ 15% Y:Y


Sales / List Price:
96% — Y:Y


Neutral Market

Elkhart County Market


July


Closings:
240 ⇩ 2% Y:Y


Median Closing Price:
$139,250 ⇧ 11% Y:Y


Median Days on Market:
18 ⇩ 33% Y:Y


New Listings:
240 ⇩ 2% Y:Y


Inventory: 
748 ⇩ 18% 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.


Will the Market Slow Down This Fall?

The real estate market will once again fall into its dormant state this autumn – or so goes conventional thought. If less house sales are closed this fall it will have more to do with the low inventory than buyer interest. With the median closing prices increasing and the median days a house is on the market decreasing, it points to high buyer demand. Both Kosciusko and Elkhart Counties have low inventories. Elkhart Counties inventory is slowly starting to have a net increase but not enough to get the overall market into a neutral market. Kosciusko’s market is currently neutral. However, market conditions change based on price range and location.

Although some sellers like the idea of selling their house on their own – using a REALTOR® that knows the market conditions specific to the type of house, price and location will maximize the overall transaction. The market will slow as the fall approaches but with on-line shopping and more savvy buyers the fall-off is nowhere like it used to be. It’s still a great time to put your house on the market.



Did You Know?

In New York, it is a legal requirement for a seller to disclose if a property under inspection is believed to be haunted by ghosts.



Fall is Here, Time to Get Ready for Winter

From Good Housekeeing

You probably give your home a deep clean in the spring, but you should also show it some love at the beginning of fall. Here’s where to start:

house-scrub1. Perform a pantry audit.

First, remove all the cans and boxes from the shelves, and vacuum away any lingering dust or crumbs (a lot can build up in just a few months!). Then, inspect each item before putting it back in its place, tossing anything that is expired or past its prime. Consult our shelf-life chart as a helpful guide.

2. Test and clean your smoke detectors.

You already know to put fresh batteries in your smoke alarms and carbon monoxide detectors (doing it on the days you change the clocks for Daylight Saving Time is an easy way to remember). But you also need to clean your units, since dust that accumulates can cause them to underperform. Using your vacuum cleaner’s soft brush attachment, clean in and around the dectectors’ openings. If any are more than 10 years old, replace them.

3. Flip your mattress.

When you turn back your clocks, turn your mattress over, too. If you can’t flip it because it has a pillowtop, rotate it 180 degrees to prevent body impressions form causing certain spots to slump. Sprinkle the mattress with baking soda to neutralize odors, and then vacuum it up.

4. Shampoo your carpet.

Get a jump on holiday party season by giving your carpeting a good scrub. We recommend getting a professional cleaning once a year, but you can also do a good job by renting a carpet cleaner and using some other DIY tricks.

5. Vacuum all upholstered surfaces.

You think your couch is clean untill you plop on it, and a haze of dust appears around you. Give sofas and chairs a good vacuuming, making sure to hit both sides of the cushions, the back, sides, arms, and even the platform underneath the cushions.




eho-mls If your property is currently listed for sale or lease, this is not intended as a solicitation of that listing.

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