Recent real estate reports addressing the state of Indianapolis real estate and beyond have been conflicting. While the state of our United States economy continues to fluctuate, so probably will the reports we receive.
While the atmosphere of real estate around Indianapolis and the rest of Indiana appears to be continuing to decline according to some reports, nationwide, experts are beginning to be more optimistic. Residents are working with their Indianapolis REALTORS® trying to decide if the right time is now to compete with other Indianapolis homes for sale.
One question sellers specifically have is should they even try to sell their homes in the winter, or wait until the spring when you hear buyers are more active. Buyers, on the other hand and for the same reason, are wondering if the best deals to find will be this winter.
Trying to sell winter real estate has always posed more of a challenge than selling during the summer. Buyers are just more likely to be active about looking for new homes when it’s warm and the scenery is more lush. For example, it’s easier to sell your house when the tree line behind you is full of greenery rather than stark during leafless cold months. How close your neighbor’s house is to yours is much more obvious when selling winter real estate.
Experts are predicting that the state of winter real estate around the nation could be tough. They attribute this to several factors like the expectation of increasing mortgage rates. Although we witnessed some great interest rates during the summer, the anticipation is that we will see an end, or slowing down, to that trend this winter.
Another factor in the market getting tougher this winter is the likelihood that we will see the end of the $8000 First-time Home Buyer Tax Credit. Although lobbying is currently taking place in Congress for the extension of the tax credit, for now it seems we will see the end of a credit for a while when the current one expires at the end of November, 2009.
Along with these factors, projected loss of jobs, continued foreclosures and the typical decrease in prices you witness during winter months are expected to affect a decrease in our state of real estate across the nation.