Episode #85 'We Talk Real Estate' every week, discussing the challenges of buying and selling."

Guest this week Mayor Scott Fadness of Fishers, Indiana. It's great to have you here to discuss the housing issues in your city.

I understand that the low inventory in the housing market is driving up list prices on homes and leading to bidding wars. This is a common issue across many cities in the US, and it can make it challenging for prospective buyers to find affordable housing.

Additionally, I see that interest rates are currently in the range of 6.875% to 7.250% for 30-year fixed-rate mortgages. This is a relatively high rate, and the possibility of the Fed increasing rates further could add to the challenges for potential buyers.

In light of these circumstances, what is the city of Fishers doing to address the housing issue and make it easier for residents to find affordable homes? Moreover, with Fisher's being part of the Indy Metro market, how is Hamilton County faring compared to other areas in terms of the housing market? Thanks to this week panel realtors Shelly Walters FC.Tucker and Justin Griffith keller Williams and to FC.Tucker Carmel Office for there media conference room and staff.

Tony Cardenas | Podcast Host | 317-376-8001

www.indypodcast.media | email: [email protected]

Welcome to our Indy Real Estate Market Update! This week, we'll discuss two major concerns impacting homeowners in the area: underinsured properties and the reluctance to sell homes due to high interest rates. We'll dive into why these issues are occurring and how they're affecting the real estate market, including inventory levels and home prices.

The Dangers of Underinsured Properties

1.1: Understanding the risks of underinsurance

1.2: Factors contributing to underinsurance

1.3: Tips for homeowners to ensure adequate coverage

Section 2: High Interest Rates and Reluctance to Sell

2.1: The impact of high interest rates on homeowners

2.2: Consequences of low inventory in the market

2.3: Strategies for navigating the current market conditions

Conclusion:

In conclusion, underinsured properties and the reluctance to sell due to high interest rates are two pressing concerns in the Indy real estate market. Both issues contribute to low inventory and inflated home prices, putting added pressure on buyers and sellers alike. It's crucial for homeowners to regularly review their insurance policies and stay up-to-date on market trends to navigate these challenges successfully.

Due to the current housing shortage in the Indianapolis metro markets, including Hamilton County, buyers are facing challenges. With no inventory available, buyers are likely to pay almost list price, if not over list price, for the perfect home. Interest rates have risen to over 7%, negatively impacting purchase application data for three consecutive weeks. However, there was a good run in purchase applications from November 2022 until February, which is now reflecting in home sales. Sellers should be prepared to sell their homes and have them ready for market. It is recommended to use a mortgage discount broker for mortgages, as big banks typically have higher rates. Lastly, it is advised not to pay points on mortgage applications, as the cost will not be recovered when rates come down in the near future.

Thank you to this week's team Shelly Walters FC.Tucker, Kyle Morris FC.Tucker and Justin Griffith Keller Williams Indy Metro NE & tony Cardenas Host.

This week's guests on the show are Patty Thornberry from Security Home Inspections and Real Estate Agent Brenda Cook from FC. Tucker. As always, we highly recommend getting a home inspection before finalizing a purchase. A professional inspector can help identify potential issues with the property and save you from costly repairs and unexpected expenses in the future. It can also give you leverage to negotiate a lower purchase price or request that the seller fix any issues before closing. For a reliable and thorough assessment of your property, contact Patty Thornberry with Security Home Inspection here in the Indy market at 317-848-1744. The current real estate market is experiencing low inventories and rising home prices, with some homes receiving over-list offers due to high demand. Interest rates are in the mid-6.5% to 7% range, subject to lender, credit score requirements, loan-to-value percentage, and a down payment of 20%. 

In the latest episode of the Indy Real Estate Market weekly podcast, the hosts tackled the hottest topic in Indianapolis - the low inventory in the real estate market. With expert insights from industry professionals including Special Guest Stacy Barry from Century 21 Sheets, along with Shelly Walters from FC. Tucker, Kyle Morris from FC.Tucker, and host Tony Cardenas, the podcast is a must-listen for anyone looking to buy or sell property in the city.

The hosts discussed how the low inventory is driving competition among buyers, leading to over-asking price offers for certain homes. However, they also pointed out that local builders are stepping up with incentives to help potential buyers navigate the difficult market conditions.

But that's not all. The hosts also highlighted a little-known secret that many buyers are unaware of - they can use a real estate agent for free when buying from a builder. Builders typically cover the agent's fees, and this provides buyers with valuable professional guidance throughout the complicated building process, which can often be highly stressful.

In a city where the real estate market is fiercely competitive, the Indy Real Estate Market podcast is a valuable resource for those looking to make informed decisions. With expert insights, data-driven analysis, and insider tips, the podcast is a must-listen for anyone looking to buy or sell property in Indianapolis.

Thank You to Stacy Barry Century 21

Shelly Walters FC.Tucker, Kyle Morris FC.Tucker and the data from MIBOR.

Tony Cardenas Host of Indy Real Estate Market - Weekly Podcast 

Will mortgage rates slow housing down again?

February 13, 2023, 12:55 pm By Logan Mohtashami

The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher.Here is a quick rundown from last week:Purchase application data had a 3% week-to-week increase. The start of 2023 has been good, considering mortgage rates have stayed above 6% most of the time.

All information is not guaranteed and subject to change without notice. 

Tony Cardenas Host | www.indypodcast.media 

This week we are getting back get back on track with this weeks team of realtors.  Listen to this weeks podcast.

'm sorry, as an AI language model, I don't have access to real-time data. However, I can provide some general information regarding the real estate market in Indianapolis, Indiana and Hamilton County.

Low inventory levels in the housing market can lead to increased competition among buyers, which can drive up prices. Higher mortgage rates can also make homes less affordable for buyers, potentially slowing demand and leading to slower price appreciation.

The federal funds rate increase last week by the Federal Reserve is likely to lead to an increase in mortgage rates, as mortgage rates are closely tied to long-term interest rates. This can make it more expensive for buyers to finance their home purchase, potentially slowing demand for homes and leading to slower price appreciation.

It's important to note that real estate markets can vary greatly based on local economic conditions, and that the housing market in Indianapolis and Hamilton County may not be directly impacted by changes in the federal funds rate. For a more specific and up-to-date analysis of the real estate market in Indianapolis and Hamilton County, I would recommend consulting with a local real estate agent or market analyst. Information can change with US.Markets and cancellation of real estate pending sales. 

WWW.INDYPODCAST.MEDIA 

This week Jeff Mathey FC. Tucker, Kyle Morris , FC.Tucker, Shelly Walters FC.Tucker and Justin Griffith with Keller Williams is out on a real estate closing. If you are in the market to buy a home we are talking inventory this week along with mortgage rates. Next week new projects and we talk broad ripple and meridian kessler and downtown indy markets. Spring is around the corner listen to our next podcast on preparing your home. Plus justin Griffith will update us on the home show this year! 

Tony Cardenas | Host | IndyPodcast.media 

317-376-8001  | Contact us for current mortgage rates we have have a mortgage expert contact immediately so you get up to date rates and information. 

All information is subject to change without notice. 

This week we have opinions on the market when it comes to inventory for buyers and sellers better be ready.  Housing inventory is in short supply along with dips and bumps in the mortgage rates. But FEDS will be increasing the mortgage rates again says the Wall Street Journal. Thanks to this week's team for the information. Shelly Walters is know with FC.Tucker and back from vacation.  Thank you to the team this week!  All information is subject to change with local markets. 

Tony Cardenas | Host

www.indypodcast.media #317-376-8001

This week on the podcast we discuss local Indy Metro Markets with Kyle Morris FC.Tucker, Greg Cooper Compass Real Estate, Justin Griffith Keller Williams and Shelly Walters FC.Tucker. Shelly is enjoying a much earned vacation this week in the tropics in the hot sun and sandy beaches. 

I have spoken to  a few local real estate title companies and I have been told business is up to fifty percent off by winter market and the fear of Feds interest rates. Greg Cooper with Compass Real Estate thinks different with his company. We talk stats with this weeks realtors. Mortgage rates are lower compared to week prior. Fixed rate have declined. Home equity loans are at a high cost of interest starting around mid 6.000% ranges subject to term and credit fico scores and loan to value on your first and second mortgage and or heloc amount. 

Tony Cardenas | [email protected]

Indy Real Estate Market (weekly podcast) Website: IndyPodcast.media | 317-376-8001

All information is subject to change with out notice subject to cancellation and U.S. Market changes.