IndyStar column by Laura Musall: Interest rates are up; waiting to move may not be best for your wallet

When interest rates started to climb a year ago, some buyers said they were going to wait out the market, thinking prices were going to plummet. That didn’t happen. Prices are up, and we still have a supply issue.

Here’s what’s happening in the market now:

· Home sales are down this year compared to the same time in 2022. Sales are down about 12% in Carmel; 18.5% in Fishers and 12% in Washington Township on Indy’s northside.

· Average home prices are up, about 5% in both Washington Township and Fishers and 2.5% in Carmel. Average home prices increased in the double digits from 2021 to 2022.

· Homes are still selling. In fact, the average sales price is about 99% of the list price; it was 100% a year ago.

· Buyers are out there, but there aren’t enough houses to meet demand in lots of areas of metro Indianapolis. Now is a good time to sell a house.

But is it a great time to buy a house? Yes!

Real EstateLaura MusallNovember 17, 2023Home Building, Interest rates, Mortgage, Home selling, realtor, Indianapolois realtor

Selling your home? Know what you must disclose (hint: ghosts are death are included included)

Indianapolis Star column by Laura Musall

When serial Herbert Baumeister’s home was listed for sale in Westfield, there was no mention that human remains were found on the property, or that investigators suspect Baumeister killed at least 25 people and buried them on the northside property in the 1990s.

The property has been listed for sale several times over the past decade, and each touted the 18 acres of wooded, rolling grounds, the five-car detached garage, horse stables and an indoor pool. There’s no mention that one man escaped from inside that pool, telling investigators Baumeister tried to kill him there.

According to Indiana real estate laws, the owner of the estate isn’t required to disclose the history of the property.

Replace cabinet hardware, no bathroom carpet!

Most buyers – regardless of age – don’t want to do a bunch of updates after buying a house. They’d rather you update the flooring than offer them a credit for new floors. They don’t want to go shopping for appliances, and they definitely do not want to remove wallpaper. They are willing to pay more for a home where they can move in and begin enjoying their new digs. Here are tips that will help you increase the value of your home. Plus, making updates also can bring you additional joy at home.

Laura's Insights