12411 N Pennsylvania Street Suite 300 | Carmel, IN 46032 Each office is independently owned and operated.
REAL ESTATE MARKET REPORT
REBECCA GLAZIER
AUGUST/SEPTEMBER 2020
FOUNDING MEMBER BROKER ASSOCIATE NEIGHBOR
317.289.6601 rebecca.glazier@encoresir.com www.LiveJacksonsGrant.com
Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2020
COMPARING 2020ARETO 2008 THEY DIFFERENT? COVID-19 has had a large effect on the economy – so much so that you might have heard talks of our country entering another recession. Due to the severity of the 2008 financial crisis and the ensuing recession, the term stirs up a lot of emotions for many, especially when it comes to the real estate market. INVENTORY AND APPRECIATION
ANNUAL HOME PRICE APPRECIATION
In the years leading up to the housing market crash, home price appreciation (the increase in value of houses) was out of control. Homes simply became too expensive for buyers to afford, which became a contributing factor to the crash. The price of homes is still high today, but it’s risen at a more stable level. Inventory is at a low in most markets, causing a surge in demand.
Then...
Source: Freddie Mac
12.5%
Source: Black Knight
11.4%
8.5% 8.7%
8.6% 6.5%
4.4%
5.2% 5.5%
6.4% 4.8% 4.7%
The 6 Years Leading up to The Housing Crash
The Last 6 Years
2000 2001 2002 2003 2004 2005
2014 2015 2016 2017 2018 2019
USE OF HOME EQUITY
TOTAL HOME EQUITY CASHED OUT by Refinance in Billions
LIVE JACKSON’S GRANT
Now...
Year
Dollars
Year
Dollars
2005
$263B
2017
$71B
2006
$321B
2018
$87B
2007
$240B
2019
$89B
Total
$824B
Total
$247B
Prior to the housing crisis, many homeowners were using cash-out refinances to supplement their cash flow, meaning they were tapping into their home’s equity as soon as it built up enough rather than letting it grow and build their overall wealth. This put many homeowners in a negative equity position when the housing bubble burst; they owed more on their home than it was actually worth.
Prepared Especially for
JONATHAN-THOMAS AND ANGELA-MARIE WILLIAMS Presented by REBECCA
GLAZIER
Broker Associate | Neighbor JONATHAN-THOMAS AND ANGELA-MARIE, Now is a great time to sell your home! Interest rates are still extremely low, and I employ a number of ways to keep the selling process safe. If you’re ready to talk about these unique opportunities, call me today at 317.289.6601. Source: www.watersongmortgage.com
Visit www.LiveJacksonsGrant.com for current listings, community information, and more.
LIVEJACKSONSGRANT.COM
J A C K S O N’S G R A N T 4
Homes Currently Listed
MARKET ACTIVITY AUG/SEP • 2020
3
Beds Range: 3–6 Baths Range: 4–5 Sq. Ft. Range: 4,209–6,353 Price Range: $750,000–$1,299,000
9
Home Currently Pending
Homes Sold in the Last 6 Months
HOMES SOLD IN THE LAST 6 MONTHS THIRD QUARTER
REAL ESTATE TRENDS Home Prices are Holding Up
Despite the sharp downturn in the economy, bidding wars are common, as eager buyers compete for limited inventory.
Paperless Mortgage Process
The industry has moved to a completely digital process with breathtaking speed. More loans are likely to close quickly.
Millennials are Starting to Buy
Millennials want to buy homes and are poised to jump into the market. Some foresee a boom in home buying in the coming years.
Low Rates are Here to Stay
Shopping for Homes is Viral
Virtual tours allow homes to be sold despite buyers never setting foot in the home. More Realtors are investing in technology.
Many economists expect rates to remain low and possibly trend lower. This increases buyer’s purchasing power and drives up prices.
Migration to the Suburbs
Strong buyer interest has shifted to suburban neighborhoods. Densely populated city centers are reporting tepid activity.
STATUS
ADDRESS
BEDS
BATHS
SQ. FT.
LIST PRICE
SOLD PRICE
CLOSED DATE
Sold
503 Dylan Drive
5
4
4,553
$899,900
$895,000
08/19/20
Sold
12315 Jackson Grant Boulevard
4
5
5,063
$879,000
$855,000
07/24/20
Sold
482 Simon Drive
2
3
2,483
$722,000
$720,000
07/13/20
Sold
1262 Frenzel Parkway
6
6
6,024
$1,195,000
$1,140,000
06/25/20
Sold
12224 Hobby Horse Drive
4
3
2,761
$980,244
$980,244
06/01/20
Sold
12099 Sigillary Way
3
4
3,211
$791,500
$791,500
05/29/20
Sold
496 Bridgemont Lane
5
4
4,609
$885,000
$850,000
04/03/20
Sold
536 Terhune Lane
4
4
3,751
$679,000
$670,000
03/12/20
Sold
12038 Hobby Horse Drive
4
4
4,312
$789,000
$780,000
03/09/20
Rebecca Glazier and Encore Sotheby’s International Realty are not in any way affiliated with Jackson’s Grant Owners Association, nor is this in any way an official advertisement or publication of Jackson’s Grant. © 2020 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the MIBOR MLS between February 24th, 2020 through August 24th, 2020. Listings and sales may not be those of Encore Sotheby’s International Realty. The MIBOR MLS does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship.
GET INSTANT ACCESS TO JACKSON’S GRANT HOMES V I S I T T O D AY AT:
LiveJacksonsGrant.com • CURRENT PROPERTY LISTINGS • MARKET ACTIVITY • COMMUNITY LINKS
JONATHAN-THOMAS AND ANGELA-MARIE,
Now is the time to take advantage of the unique market! Call me today at 615-300-4695.
• H O M E VA LU E A S S E S S M E N T