Hey there!

I wanted to send my brief market update to keep you up to date and empowered with knowledge!

On to the update...

 Market Trends I'm taking note of: 

• We all are aware that home prices are surging upwards. But is this just regular old inflation?
• Not so much: Wages aren't rising nearly as fast as housing costs.
• A Zillow study showed that in 1970, first time home buyers were spending an average of 1.7x their annual income on a home. By 2013, first time home buyers were spending 2.6x their annual income on their first residence.
• After the recent surge in home prices (pretty much doubling in most areas of the United States), this number is likely much worse: By my estimation the average first time home buyer is spending 4-5x their annual income on their first home.
• What's all of this data saying? We have a major housing affordability crisis right now.
• EMERGING TREND: The concept of "co-living" or "rent by the room" is going to gain increasing popularity as the cost for a home increases.
• Check out LiveHomeroom.com for an example of a company providing this kind of service. (I work as their Indy agent so I'm thrilled and excited for what they're doing to help affordable housing! The average Homeroom room costs $450, in a nice suburban area.)

 Buying + Selling Quick Tip for the month:

• SELLERS: If you already have a home, you can purchase a home BEFORE selling your own home with the use of a new innovation in lending -- the "BRIDGE LOAN". The bridge loan allows homeowners to tap into their current equity in order to generate a much higher preapproval and lock in a home FIRST, before having to sell their own home.
• If you want to be put in touch with a company that offers "Bridge Loans," just shoot me a message and I can recommend my favorite local lender that offers this.

 Random things I wanted to tell you:

• With all of the changes in the housing market, how's the renter market outlook? Not good: Rents are up 14% nation-wide according to the Indianapolis Business Journal.
• In other news, Chalet, a European ski themed bar and coffee shop, just opened their doors to Indy patrons this week. The space is an eclectic, warm cozy vibe reminiscent of a ski tavern near the slopes of the Alps. Their location in the Meridian-Kessler neighborhood of Indianapolis occupies an old abandoned firehouse.
• Check this ultra random tid bit out:
• "Without much fuss and even less public attention, the nation’s egg producers are in the midst of a multibillion-dollar shift to cage-free eggs that is dramatically changing the lives of millions of hens in response to new laws and demands from restaurant chains." (Source: IBJ)
• Cage-Free eggs (the brown ones...) are CRUSHING IT! Love to see it.

Chalet is located on Illinois St near the Safeway and Graeter's.

Thanks for reading!

If you ever have any questions or need help in the real estate space, I'd love to chat with you! Even if you aren't ready for a move. 

Here's the link to my Calendly to set up a call.

Have a wonderful February,

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