Locality

There is a saying in real estate that all markets are local. This is brought home to me frequently these days as we deal with the unrelenting media coverage of the "housing crisis" and all other things dire. I am working with a great couple that were interested in buying a ranch home on the NW side of Indianapolis. We looked at acoupld the first day we went out, and while both were nice, one of the homes had an outstandingly landscaped back yard. My clients wanted to digest what they had seen and meet with their lender again before making any decisions.We talked and I told them that since the home showed really well, I didn't think it would stay on the market long but since the media has drilled it into everyones that it is a "buyer's market" and nothing is selling, I think my clients thought I was exaggerating. We called a couple of days later to schedule a second showing and surprise, the home was under contract. We scheduled showings on six more homes a couple of days later and made an offer on one. It got two other offers the same weekend! We made an offer on their next choice and they got it, for 97% of list.
There are many great properties available now and there are motivated sellers as well as REO and distressed properties but buyers should be aware that depending on the neighborhood and the condition of the home, they are selling.