Mooresville 2009 Real Estate Forecast for July

Real Estate Report by m.s.Woods Real Estate, LLC. –  When Heartland Crossing developed a few years ago, the scenery for shopping and housing opportunities in Mooresville homes changed. While still close enough to Indianapolis to commute to a job, Mooresville is a great location to live just outside the Indianapolis real estate market. How is the Mooresville real estate market compared to the rest of Morgan County? Is the impact of today’s economy in the United States still being felt in Indiana or have we taken a turn upward?

It’s no secret that the real estate market has taken a hit over the last few years. While there are still numerous Indianapolis homes for sale, the government is aware of this struggle and is offering incentives to buyers such as the $8000 First-time Homebuyer Tax Credit. Research is also being conducted to study where we are as a nation in terms of home sales. On Indiana Is Home a report is presented revealing our state’s sales activity from July, 2008 to July, 2009. This report conducted by the Indiana Association of REALTORS® uncovered that home sales are slipping, as they have been in recent years, but at a reduced rate.

With a statewide decline of approximately 7%, that was averaged from a 98% representation of Indiana counties, Morgan County is not faring well. From comparing the two July months in ’08 and ’09, Morgan County saw a 19.8% decrease in the sale of homes having 81 homes close in ’08 and 65 close in ’09. A 10.6% drop in median prices for the sale of homes was felt too dropping to $111,600 from $124,900. Great news, however for Mooresville homes as the town of Mooresville itself saw virtually no decrease in home sales from ’08 to ’09, with 26 and 24 homes selling respectively. You will find approximately 180 Mooresville homes for sale right now, with a healthy span to peruse starting from $30,000 to $750,000.

Approxmately 13%, or one out of every eight homes, will sell in the Mooresville market today. With a fairly healthy market in which to list Mooresville homes, you may be thinking about hiring a REALTOR® to help you out. The following are some reasons to consider working with a Mooresville REALTOR®:

They will know how to price your home. Pricing a home correctly from the first day is very important. Showing requests will be the most plentiful during the first few weeks your home is on the market. Because active REALTORS® have their finger on the pulse of how homes are selling, they will be able to come up with the best game plan when pricing your home.

They have access to the BLC (Broker Listing Cooperative). In simple terms, REALTORS® have access to all the homes currently listed through the BLC, which also houses endless data for recent home sales in the area. They can pull comparative properties and average this information for you into reports that will be helpful when buying or selling a home.

They can update you instantly. Also through the BLC, REALTORS® can set you up to be notified when a home hits the market in any given community. On the buyer side this is valuable as you will know the minute a home is listed in case you want to see it and on the seller side, you will know who is your competition.

As Indianapolis continues to grow and attract events such as the 2012 Super Bowl, its inevitable that this growth will branch out into the suburbs. Mooresville will likely continue to feel this expansion as well.