LaGrange and Noble Counties Combined
Market and Sales Data Year to Date- End of July 2010
All Residential 2009 2010 Change
AvG Sales Price YTD 95,131 100,681 +5.8%
Homes Sold YTD 216 272 +25.9%
AvG Days on Market 162 180 +11.1%
There are 701 homes listed for sale and at the average sold per month so far, it will take 21.2 months to sell them all (months of supply). That is almost 2 years! Homes sold for 91.9% of the price they were listed at prior to sale.
Year to Date-End of July 2010 Lake Properties
Lake Properties 2009 2010 Change
Avg Sales Price YTD 162,776 154,975 -4.8%
Homes Sold YTD 51 58 +13.7%
Avg Days on Market 160 203 +26.9%
There are 270 homes listed for sale and at the average sold per month so far, it will take 24.5 months to sell them all (months of supply). That is 2 years! Homes sold for 91.4% of the price they were listed at prior to sale.
LaGrange County Habitat for Humanity is holding our annual auction this Friday in Shipshewana. Stop in for lunch or dinner and bid on a few auction items. We are raising funds to build our 21st home in LaGrange County!
Here are links to the calendars for the new school year. You can also visit my Noble County Schools page for links to all of the schools to find open houses, registration schedules, and school supply lists.
Central Noble School Corporation 2010-2011 Calendar
Students Return August 18th
East Noble School Corporation 2010-2011 Calendar
Students Return August 19th
West Noble School Corporation 2010-2011 Calendar
I just got my postcard for the back to school open house in August which means it's time to start shopping for school supplies and getting the kids to bed earlier. Here are the 2010-2011 calendars for our local school corporations. You can also visit my LaGrange County Schools page for links to all of the schools for registration times, open houses, and school supply lists.
Lakeland School Corporation 2010-2011 Calendar
Students Return August 26th
Prairie Heights School Corporation 2010-2011 Calendar
Students Return August 24th
Westview School Corporation 2010-2011 Calendar
Students Return August 17th
These figures are taken from our local MLS (NEI) and include those sold by all agent and firms who are members. Our office is located in LaGrange County, two blocks from the county line which separates us from Noble County. The town of Wolcottville is in both counties. We work with clients and customers in both counties and combine the data to get a better ideal of what is happening in our local market. The number of sales and listings is relatively small for each county and having more data helps us track trends more accurately because a single sale won't skew the averages quite so much.
We are also located in a lake community, so we pull out the lake property numbers to track statistics and trends for that too. They are listed below the monthly data for all properties. As of June 30th, RE/MAX Results had sold over 4 times as many lake properties as our closest competitor this year!
When you are making a decision to buy or sell, home appreciation isn't the only thing to consider. You should also consider that mortgage interest rates are historically very low right now. In addition to what you can save in interest cost, you can get more house for the same payment amount. If you are currently a renter, that is a payment every month that will never offer a return on your investment.
Home ownership is not just about investing for potential future profit. It is about investing in the security, stability, and comfort that a home provides for your family. It is about that feeling of pride and sense of accomplishment you feel when you become a homeowner.
I offer these statistics to give you a general idea of what is going on locally so you can make informed decisions about the sale or purchase of a home. For market analysis of a specific neighborhood or home you would like to buy or sell, contact me and I would be happy to run the numbers for you.
Market and Sales Data Year to Date- End of June 2010
AVG Sales Price YTD 91,229 97,759 +7.2%
Homes Sold 175 239 +36.6%
AVG Days on Market 168 184 +9.5%
There are 689 homes listed for sale and at the average sold per month so far, it will take 13.5 months to sell them all (months of supply). Homes sold for 91.9% of the price they were listed at prior to sale.
Year to Date-End of June 2010 Lake Properties
Avg Sales Price YTD 154,626 151,289 -2.2%
Homes Sold YTD 38 47 +23.7%
Avg Days on Market 156 217 +39.1%
There are 262 homes listed for sale and at the average sold per month so far, it will take 23.8 months to sell them all (months of supply). Homes sold for 91.2% of the price they were listed at prior to sale.
more housing statistics and historical data
Stop in Sunday evening for hot air balloon rides! As long as the wind stays calm, we will be offering free balloon rides. Don't forget to bring your camera!
LaGrange County 4H Fair Hot Air Balloon Rides
have been rescheduled for Wednesday evening
due to wind conditions on Sunday.
RE/MAX Results Angola Balloon Event in Steuben County
If you love to watch hot air balloons or would like to take a ride, be sure to attend one of our local events planned this weekend. This evening is the start of the first annual Angola Balloons Aloft at the Tri-State Steuben County Airport. Stop in for the mass launch competition flight and the balloon illumination. The fun continues on Saturday with another competition, helicopter and airplane rides, skydivers and more.
RE/MAX Results Wolcottville
Balloon Event in LaGrange County
If you want to see what it's like to ride in a hot air balloon, join us for tethered rides during RE/MAX Results Day this Sunday at the LaGrange County 4H Fair. Last year this event was so much fun. "Children" of all ages were thrilled to have their first chance for take-0ff in a hot air balloon. We will have a booth set up at 1:00 so stop by for balloons, tattoos, and to sign up for the free "Basket of Summer Fun" prize drawing. The balloon rides are scheduled to start around 5:30. For safety reasons, the pilot will determine start time based on the weather. Minors must be accompanied by a parent or guardian so plan ahead. If you can't make it to the fair this Sunday, RE/MAX Results will be at the Noble County Fair in Kendallville on Sunday July 18th.
Homebuyer's Tax Credit and Flood Insurance Extension
The homebuyer tax credit has been a source of confusion for many of my buyers since it was started years ago. Deadlines, credit amounts, who qualifies, and even the names of the credit itself have undergone so many changes it is difficult to keep up with. Every time is about to end, there are days of "chicken little proclamations" with everyone insisting the market will crash if it ends. With prices and interest rates as low as they are, you don't need a credit to get a "great deal" in this market.
Once again, there is a change. And once again, the news media, bloggers, real estate agents, lenders, etc. have been telling us for days it has been extended. And they are wrong. Apparently many of us have forgotten the process we learned in high school or on early morning Saturday television from Schoolhouse Rock.
The current extension passed in the House on Tuesday and was just passed in the Senate late last night. And as of right now, it must still be signed by the President. He is expected to do so, but until he does it has not been extended! Update: This bill was signed on Friday July 2nd and is NOW a law.
Once it is signed and becomes a law, this extension does not apply to any buyers who were not already under contract to purchase a home by April 30th. It is really just a three month extension to give those buyers who were already under contract by the April 30th deadline, three more months to get their transaction closed. There are exceptions to this deadline for active military and some federal employees who qualify and have another year to qualify.
The National Flood Insurance Program expired in June which prevented potential homeowners from closing on purchases that required a policy to be in place. The program will be temporarily extended, once again, to the end of September. This affects many of our lake buyers in the area.
I don't have a single buyer who stopped looking at homes because the credit expired. They know that finding the right home is more important than rushing to get a credit in this market. And all of my buyers who were under contract had closed prior to the June 30th deadline. I just wanted to share the facts with my readers to keep them informed.
With the holiday weekend approaching, many folks are making plans to attend our local small town celebrations and settle in for some spectacular fireworks! Here are a few places to celebrate and their schedules for this year. Some of our towns are celebrating on different days, so you can find something to do all weekend! One of my favorite things about our area is how easy it is to find a glimpse into the way holidays used to be celebrated. Traditions are important and giving my kids an "old fashioned experience" creates memories that I treasure dearly.
Angola will have a parade, live music, games, and fireworks on the 4th of July.
Kendallville celebrates the holiday with activities for the kids, live music and fireworks on July 4th.
Topeka's celebration starts with a Road Run, Fun Walk and Basketball Tournament at 8:00 am. There are kids games, big wheel and pedal car races, cloggers, a parade, buggy and tractor pulls, a free concert and fireworks. Their celebration is on July 5th.
Fun on Sylvan returns to Rome City on July 3rd with many activities and the largest fireworks display in the area.
The town of Wolcottville will celebrate the holiday on July 4th starting with the Johnson Township Fire Department's pancake and sausage breakfast from 7-11 followed by the Wolcottville Police Department's BBQ Chicken. Entertainment at Taylor Park starts at 5:00 which includes live music and a DJ. Fireworks at approximately 10:00 pm.
Rome City may be a small town in Northeast Indiana, but they celebrate the 4th of July in a big way starting with the Legion Breakfast at 8:00 am and ending with the areas best fireworks display over Sylvan Lake. There are food vendors and rides all day, a baseball tournament, duck race, and live music.
(rain date for fireworks is July 4th)
8:00-10:00 am Legion Breakfast
11:00 am Ice Cream Eating Contest
2:30 pm Sylvan Lake Boat Parade
4:00-8:00 pm Car Show
6:00 Tribute to the Troops
The complete schedule is available at the Rome City Chamber of Commerce or you can pick up a brochure at local businesses.
Adams Lake Wolcottville
Lake Front Open House
Sunday June 27 2-4
Adams Lake is an all sports (ski lake) in a great small town lakecommunity that includes seasonal cottages and year round homes. Adams Lake is great for fishing year round.
Sandy shallow swimming beach and great views of the lake! The Adams Lake Pub is located within walking distance or boat right up to the dock.
Residential Report
Year to Date- End of May 2010
AVG Sales Price 85,888 97,938 +14.0%
Homes Sold 139 188 +35.3%
Days on Market 169 181 +7.1%
There are 692 homes listed for sale and at the average sold per month so far, it will take 11.3 months to sell them all (months of supply). Homes sold for 91.4% of the price they were listed at prior to sale.
Year to Date-End of May 2010 Lake Properties
AVG Sales Price 158,529 152,664 -3.7%
Homes Sold 28 36 +28.6%
AVG Days on Market 156 204 +30.8%
There are 256 homes listed for sale and at the average sold per month so far, it will take 31.7 months to sell them all (months of supply). Homes sold for 91.2% of the price they were listed at prior to sale.
Stop in Sunday and take a look at this lakefront cottage on Adams Lake in Wolcottville.
Sandy Swimming Beach
All Sports-Ski Lake
Covered Porch
Lakefront Deck
Start making lakehouse memories with family and friends this Summer! More information and directions.
As a licensed real estate agent, I can show you any home listed by any agent or any company in the state of Indiana. Because I live and work in Northeast Indiana, I limit the area I cover to the our local MLS territory. Some agents will travel out of their area, but I don't think it is possible to represent a buyer or a seller in an area where you don't know the housing market, neighborhoods, or community. I always refer these buyers and sellers to agents who live and work in the area of the home sale or home search.
Most companies in our area belong to the local multiple listing service which covers LaGrange, Noble, Steuben, and DeKalb Counties. This is a database where we all provide listing information to each other. We allow other agents to show our homes to give them maximum exposure to more buyers. Most of the time, when a house sells, one agent represents the seller (listing broker) and another agent represents the buyer (selling broker). In most cases, when a home is sold, the commission is paid by the seller and split between the listing and selling brokers.
The agent listed on the sign has a contract with the seller and ONLY represents the seller. The listings agent's loyalty is to the seller. To them, a buyer is a customer and they only have to tell you about known property conditions and other disclosures affecting the value of the home as required by law. They must treat you honestly and not give you false information. Everything else must be held in confidence for the seller, especially if it would give you an advantage over the seller. And this is in direct conflict with some questions you may want answered. Would the seller take less than the list price? What price should I offer? Why are they selling? How soon do they need to close?
As your buyer's agent, I can get some of these questions answered. I can let you know if the list price is supported by a market analysis of similar properties, and help you determine an offer price. I can check for past sales of the home. I can help you find lenders and home inspectors. Some buyers think the listing agent will know more about the property. In some cases, this may be true. But, if you have questions I don't know the answer to about the property, I will find out from the listing agent, because the agent is REQUIRED to answer all questions about the property truthfully. Then I can help you construct an offer that is to your advantage without considering the impact on the seller. I represent you. My loyalty is to you. My goal is to get you the house you want on your terms and at your price.
Most buyers don't know this. They call the agent on the sign, get to the house, and in their excitement, start sharing information about themselves and how much they like the house. Because of this, Indiana State law requires listing agents to explain this to you prior to you revealing any confidential information about your finances, reason for buying, what you want to spend, etc. If you meet an agent at an open house or while looking at one of their listings, you should never reveal this type of information. Because once it's out it can't be taken back and it could be used later to the seller's advantage. The agent is required to tell the seller EVERYTHING you shared. I have shown homes to buyers who have already looked with other agents and WERE NEVER TOLD THIS so be careful!
The only exception to this is if you have a written agreement with an agent for limited agency. In this case, the agent is required to treat the buyer and seller exactly the same and can't tell either party anything that could give the other an advantage unless they have been given permission to do so in writing. Neither can be told if the other would pay more or accept less. Neither can be told why the other wants to buy or sell. In the best case scenario, everyone is happy with this arrangement. In the worst, someone feels cheated and it becomes a source of litigation. Some states won't even allow an agent to work both sides of a transaction. A common statement explaining why this isn't permitted is that neither side is being represented to the BEST OF AN AGENT'S ABILITIES. It would be like an attorney representing both sides. I once had a continuing education (code of ethics) instructor tell us that if a buyer agrees to limited agency, you must not have explained it right.
In the state of Indiana, it is a matter of choice, but it should be an informed choice. The most important thing is that you know the facts to make a choice before you meet with a listing agent. Some people are comfortable sharing an agent with the seller. If you're not, you need an agent who only represents you. This is a buyer's agent. If the property you want to see is one of my listings, I would be happy to refer you to a qualified buyer's agent to represent YOU in the purchase of the home.
LaGrange County Lakes Council
Spring Seminar June 5 10:00-12:00
Pine Knob County Park is 3 miles east of Howe on SR 120
Join us Saturday for a free educational seminar. We will start with a presentation by JFNew on lakescaping (improving our shorelines with native plants). This will include techniques that enhance water quality and limit the growth of invasive species.
The second presentation will be from Scott Banfield of Aquatic Enhancement & Survey, Inc. He will tell us about the water quality monitoring program that he established for the Steuben County Lakes Council and what the program could do for the lakes in LaGrange County.
Country Living
Fishing Lake
Could be 3 bedrooms again
Witmer Lake is a ski lake on the Indian Lakes Chain
3 bedrooms 2 baths
Start making lake house memories this summer!
RE/MAX Results Wolcottville Indiana
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Opinions expressed here are my own personal opinions.
They do not reflect the opinions of my employer, the brokerage.
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