The Indiana Housing Market in 2015

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Today, we’ll discuss Indiana’s housing market this year. Good news: we’re back on track!

Indiana University recently released a 32-page report on this year’s housing market. The research shows overall home sales were up more than six percent compared to last year. In June, Hoosiers purchased 9,080 existing homes. That makes this June the state’s second-largest sales tally in a month within the last dozen years. 

Particularly, Bloomington experienced a nine percent improvement in sales. According to our data source in Monroe County, homeowners purchased 240 homes in June 2015. 

The recent data also shows that foreclosures are at their lowest level since 2001. Indiana has moved from the ninth-highest foreclosure rate in the nation to the seventeenth. Furthermore, Indiana had the eleventh highest home ownership rate in 2014. 

Indiana’s existing home sales have risen this year. As of mid 2015, the state registered 78,440 existing home sales. This is Indiana’s largest four quarter total since 2007.

Researchers found that Indiana’s average median price for existing home sales rose more than three percent over the last year and nearly fifteen percent above the low point in 2009.

According to the Federal Housing Finance Agency’s Price Index, our state had the fortieth fastest price appreciation rate in the country. 

We have been feeling a demand for housing in Bloomington with a low inventory. If you’ve been thinking about making a move, it’s a good time to act. Feel free to contact me about a free real estate consultation. I'm always available to help!

How to Avoid Issues With Your Foundation

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Today I'm with Joe Walton of KAT Home Repair. Joe is his company's foundation expert and he's going to be discussing what you can do to avoid issues with your home's foundation. The foundation is extremely important, and Joe recently had to do some work on a home that had foundation problems detected during a buyer's home inspection.

Joe says that issues most often arise as a result of deferred maintenance. Most issues aren't obvious to the naked eye, such as a missing sump pump in a crawl space.

In order to keep your foundation healthy, Joe recommends that you pay attention to your down spouts. Make sure that they are at least 15 feet away from your home. If you have grading issues, then 15 feet may not be enough. 

It's also important to maintain a positive grade around your home. For example, you don't want a home with a moat around it. You want the dirt to slope downward away from your property if possible. 

The third thing you must do is keep your gutters clean and free of debris. This is probably the most simple thing that you can do to protect your foundation.

If you'd like to reach out to Joe, you can call 317-408-0997. He can assist you with any foundation issues that you may be experiencing.

As always, please refer to me as your resource for real estate in Bloomington!