Real Estate Is Great In Indiana!
Real estate is still a good investment here in central Indiana! Our CENTURY 21 Company was #1 again in 2007 out of all the CENTURY 21 companies in the world! This is not just great news for our company, but for every agent serving here in Indiana. I went to a recent seminar where statistics were given about the "declining real estate market" and here is what they found: Remove just seven of the worst states from the list and the market has actually increased! I can't remember all of the states, but I do remember California, Florida, Michigan, Ohio and Indiana (yes, Indiana). These states were affected by either undue increase in property value or job loss which translates into foreclosure for a lot of people. I know a little bit about the Florida situation because my parents used to have a home there. About 10 years ago my parents sold their home for about $80,000 when they got ready to move away. My brother who still lives nearby said that 4 years later another house on the same street, same floor plan, and same builder as the one of my parent's sold for around $285,000! By the way, my parents house was like new when they sold it. What could happen in 4 years to increase the value that much? They were about a mile from the ocean; they were in a residential subdivision; and the area was already populated. I heard a similar story from another place on the east coast. I can't understand how the appraisers were able to justify this (assuming that an appraisal was done)! These are the stories that should be reported in the media! Before you get ready to buy, have your agent give you a Market Analysis to make sure you are not paying too much. It's okay to pay more on the property than the last owners, but $200,000 more in 4 years is a bit too much in an area that hasn't seen much activity! I believe 2008 is going to be another great year for a lot of people! Interest rates are still low and real estate is still available. Hurry up and get a piece of the pie before the media catches on!
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