Is it any wonder that the average home buyer has no idea which way home prices are trending? They don’t know who to believe. 
If you are reading or listening to the mainstream media these days, you are probably as confused as anyone. I know I am after reading today’s local paper. On page 25, there is a headline which reads “Home Prices Up“. Turn the page to 26 and the headline reads “Home Prices Decline“.
Can you believe that? I can’t make stuff like this up!
The story behind the stories is that home prices are based on local market conditions, sometimes down to an area the size of a subdivision, and the press likes to comment on large markets such as Chicago, New York, Washington DC, etc. and the US in general.
In the first article I quoted, it seems home prices are up 5% across Indiana compared to January of last year. The second article states that prices are hitting new depths in most major US cities. It goes on to say that these are areas tracked by Standard & Poor’s Case-Shiller index, which looked at the price activity from October through December of 2010. A lot has happened since then.
Still confused? That’s OK. the important thing is that now is a very good time to buy your home if you are planning to live there more than just a couple years. Prices are reasonable and interest rates are still low, but fees and other costs of a loan will be rising in April, so if you are sitting on the fence, now is the time to make your move.
Ready to start looking? Give me a call at 219-695-0369 and let’s get you preapproved so I can send you out with one of my top notch Realtor partners. We use the team approach to make your home buying experience the best it can be!
Scott
Your Indiana mortgage expert specializing in FHA, VA, and USDA Rural Development loans.
Need cash to buy or refinance a home and make repairs or improvements? Ask about our FHA 203(k) Rehab loans.