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Indiana housing market sets record

For those of us who have lived here for a while, we know Indiana is attractive for homebuyers. Between low prices, good schools, and a central location, Indiana has it going on!  Now it appears…the secret is out!  Named as the No. 1 state in the U.S. to create wealth from real estate investing, Indiana reached the top spot solely due to the booming real estate market in Indianapolis.

Despite a worldwide pandemic, the loss of jobs and a weaker economy, Indiana saw more and more people flocking to its cities and suburbs during the pandemic.  

The National Association of REALTORS® identified Indianapolis – Carmel – Anderson, Indiana as one of top 10 markets that have shown resilience during this pandemic period and that are expected to perform well in a post-COVID-19 environment. In identifying these markets, NAR considered a variety of indicators that it views to be influential to a metro area’s recovery and growth prospects in a post-pandemic environment in 2021-2022.

Because of the pandemic, workers from more expensive real estate markets around the country don’t have to go into the office anymore, which opens the possibility for trying to buy more affordable homes in the Hoosier State.

Indianapolis and Indiana have so much working in its favor right now: low interest rates, the desire for more spacious homes, not to mention a great buzz about Indiana.  Currently home to the NCAA Headquarters and host of the entire NCAA Basketball Tournament this month, the country is able to get a great view (albeit at a distance) of that Indiana hospitality.  So as the tournament heats up, so is the Indy real estate market.

As the Indianapolis area real estate market gets ready for its busy season, if you are in the market to buy or build a home, what first steps should you take?

  1. Connect with a real estate agent. Connecting with any agent will save you time and effort in navigating through an in-demand market, whether you are buying and existing home or building a home.

  2. Determine your budget and get pre-approved. A pre-approval letter from a mortgage lender will allow you to move quickly in a hot market.

  3. Know your “must haves” and your “nice to haves,” from neighborhoods to home features, this will allow you sort through options and look at homes that fit into your ideal home scenario as well as your budget.

  4. Your real estate agent is an expert negotiator - listen to his or her guidance.  Remember, in this market, you may not be the only one who makes an offer that very same day.  Make it a fair offer.

  5. Try to take the emotion out of it.  Again, another great reason to let your REALTOR® handle the process. He or she will help you make a home-purchasing decision that is good for both your feelings and finances.

If you or someone you know is thinking of buying or selling, CENTURY 21 Scheetz agents are #relentless in finding you the perfect home or helping you sell your home.  Serving Indianapolis, surrounding counties and Bloomington, contact your CENTURY 21 Scheetz agent today. Connect with us today.

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