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During 2009, our company held 840  Open Houses in all sorts of locations and price ranges.    In our South Central Indiana location, Open Houses are an effective way for Sellers to gain increased exposure and advertising.  Open Houses also serve the purpose of  allowing potential Buyers an opportunity to screen homes, better define their housing requirements and priorities and meet agents. 

The establishment of a relationship between Agent and Buyer is really important.  Finding someone who  understands the timing, financing, physical appearance and space demands, color and style preferences is extremely important.    When the message is not clearly understood by the Agent who continues to find  properties that never quite fit, the Buyer eventually becomes frustrated, sometimes believing that the perfect house doesn’t exist or perhaps their expectations are unrealistic.  A real danger of the Buyer settling for that “WILL DO” property is very sad for it typically translates into another move, earlier than intended. 

Of course, another problem that happens in the situation where Agent can’t find a property or understand the Buyer’s preferences is that the Buyer becomes frustrated and puts off purchasing for an extended period.   The obvious problem created by this miss is the loss of tax benefit, appreciation, maybe , a favorable interest rate and possibly missing  the window of opportunity for the Tax Credit.

After years of selling residential real estate and thoroughly enjoying it, I believe every Buyer has the right to feel excitement about the purchase of a first home, a new home, or just a different home.  Despite the price range, the decision to move forward with larger, newer, wooded, country is great.  Change is great.  So often, I have witnessed people  “stuck” with same old house, same old furniture, same old landscaping decide to take the “plunge”.  What I have then observed is a new excitement/interest in life.  With the purchase of new furniture, interest in fixing up, planting trees -all of a sudden, life is fun!

The special thing I experienced as a real estate agent was a satisfaction and fulfillment in playing a role in such a happy experience.

Our Ladybug is Smiling

Stop by and see our Happy Ladybug.    Enjoying her New Home at 7th & Washington, she can be viewed when even driving down the street.

Church Steeple

Upon returning from a long-weekend vacation in Quebec City (some pictures of Quebec City are included), I glanced at the stack of newspapers that had accumulated from the 5-day trip.  As I was attempting to read the local newspapers (The Republic -  http://www.TheRepublic.com) that had accumulated during our absence, I was struck by the fact that my mood was so improved by some optimistic headlines that had appeared regarding Cummins Engine Company jobs, the start of the construction for the long awaited Commons in downtown Columbus and the plan under consideration to build a new condominium project also located in downtown Columbus.

Statue on the Square

The national news media has been focused on signs that the recession could be ending.  Locally, we are seeing signs that the economy is improving; we are seeing more traffic on our websites, more inquiries

Sidewalk Cafe on the Square

on our listings and agent showing activity has definitely increased!  As the interest rates remain appealing, it is our hope that the pent-up demand that we have been waiting for may in fact be surfacing.

As a real estate company, we have been sensitive to the frustration of sellers who need to sell quickly when “selling quickly” hasn’t been the reality.  We have talked about positioning a property to distinguish it from the others within a price range to make it stand out, increasing the appeal to possible buyers.  

We are continuing to work tirelessly to create the programs, increase the marketing efforts to attract the buyers for this is truly an excellent time to buy.  We are educating on the up to $8,000 1st Time HomeBuyer Tax Credit and the need to act now to take advantage of the program requiring closing on the property before December 1, 2009.

Gorgeous scenery

This weekend -
                         Saturday, August 21   1-3pm
                         Sunday, August 22     1-3pm & 3:30-5pm

we are holding 33 Open Houses.  With a variety of price ranges, locations and features, our open house weekends have been well attended.  While many potential buyers have typically attended these events, it also allows those just beginning the ”buying process” an opportunity to gather facts and discover their preferences.  Often before a real decision is made to proceed seriously and contact a real estate agent, the chance to “meander” through a home without the obligation for a decision is non-threatening.

Super Open House Weekend

Super Open House Weekend at Century 21

 As the national news media has begun to speculate that our economic woes could be coming to an end in the near future, we believe that those who might have purchased homes earlier this year could in fact begin to shop again.  This event presents an excellent way for some of those with possible interest to get acquainted with the inventory available in Columbus, Indiana.

There is no question that demand for homes in Columbus Indiana  has been drastically reduced.    Of course, this is true in Indiana real estate as well as homes sales across the country.

The number of sales of homes for 2009 year-to-date thru 7-31-09 as compared with the same period in 2008 in Columbus was reduced by 33.5%.   When comparing 2009 to the same period in 2007, the number of sales was reduced by 44.5%.    This is an enormous difference. 

It is obvious that the Columbus real estate market has suffered during 2009 beyond all expectations.  The lower interest rates and buyer incentives have created some demand but have not stimulated the market locally or nationally as hoped. 

Likely,  a long term reduction in the pool of buyers will be the consequence of of the increases made in required credit scores raising the score necessary higher for mortgage loans.  Also, there have been changes in minimum down payment so that no down payment loans and seller participation in the down payment programs are no longer available.  

Thus pessimism, joblessness, high credit scores and greater down payment have all played a huge part in a greatly reduced number of sales for 2009.   Some of these changes will have long-term effects on real estate in Columbus, Indiana certainly.

I have heard many reminesce about prices in high-demand areas in years past in Columbus, Indiana.   Frequently, they recall the missed opportunity to purchase at lower prices in these high-demand areas at unbelievably low prices (by today’s standards).   One of these discussions often involve lake lots at Grandview Lake.   

Although I am unsure of these facts, it is said that at one point in time years ago, lake lots were available for $8,000 – obviously a fraction of the lot cost in Columbus now.  A question usually follows such as, “Why didn’t you buy several lots when they were so affordable”?

Sometimes I wonder if this could be another time in our history of residential real estate in Columbus Indiana when homebuyers in the future will remark that extraordinary opportunity existed in 2009.

• While homes are not selling at a fraction of their former value in Columbus, appreciation has certainly been halted.  In some price ranges, there is an oversupply and the lack of demand plus strong seller motivation to sell has resulted in reduced prices.  
• “Thinking outside the box” is certainly playing a role in Columbus home sales for trade-ins, buy-down of interest rates and other seller incentives certainly exist.
• “Thinking outside the box” is a philosophy now being used by our Century 21 Breeden real estate team as each agent tries to position the listed property to create interest in the eyes of buyers.

With very appealing interest rates, a great inventory in all price ranges and the creativity of incentives being used by those with a strong desire to sell NOW, the 3rd quarter of 2009 appears to  be a fine time to do real estate business in Columbus.

South Central Indiana

Sometimes known as the Center of the Golden Triangle, Columbus has the advantage of being in the middle of the triangle created by
       Indianapolis – North -  1 hour
       Louisville – South -  75 minutes
       Cincinnati – East – 90 minutes 

It is 4 hours from Chicago on Interstate 65. 

We invite you to watch a video on Columbus created by theColumbus Visitors Center

Columbus Visitors Center Video