What is going on in Columbus Indiana Real Estate?

We are excited about the prospect of Selling Homes in Columbus Indiana. Columbus Indiana Real Estate is experiencing a change in supply and demand with definitely greater demand. Our Real Estate Agents are showing homes in greater numbers than in the recent past. Several homes this week have actually sold in less than one week – a very rare occurrence during 2009 and 2010. This is the good part!

Here is the not so good: The appraisal process has become a problem in many transactions. While buyers want to buy, feeling more confident than before, and sellers want to sell, the appraisal process has been an issue. The appraisal is based on historical data – a comparison of homes now selling in an improved market in Columbus to properties sold in the past when the market was not nearly as good. With the improved present market being compared to the unimproved past, appraisals keep prices from soaring no matter what the demand.

Economically speaking, Columbus is decidedly better off than many other areas of the country and even the State of Indiana. In fact, Indiana is considered a depressed market and a problem frequently occurs when Indiana appraisers from outside this area are asked to appraise within this area.

While the real estate market will improve, there are many factors to be considered for its total recovery.