Krazeehorse
Tuesday, April 13, 2021 8:00:06 AM
Just wondering what the collective thoughts are on my scenario. I have a (step)son that is relocating his family from Savannah to Indianapolis. They have owned their home in Savannah for about 5 years so he is going to walk away with appreciation equity. But I fear a correction is coming (sooner than later) when all the free money causes inflation and interest rates go up and real estate stagnates or goes backwards. You really don't want to be upside down in real estate. What would your strategy be if you had to relocate this summer?
BuckyB93
Tuesday, April 13, 2021 8:12:38 AM
Live in a van down by the river but don't tell Z
deadeyedick
Tuesday, April 13, 2021 8:21:46 AM
Not sure about Indi real estate but in general it has always been a stable investment over time. Yes, there are down times like 2008 but that was an exception and though the market is hot right now it is not due to speculation.
DrMaddVibe
Tuesday, April 13, 2021 9:01:24 AM
What about the possibility of renting out his current home instead of selling it?
Gene363
Tuesday, April 13, 2021 9:34:55 AM
Is the new location permeant or temporary? If permanent, I'd find a good location and buy, but I always recommend renting to become familiar with he location. When I worked for Bechtel, they used relocation consultants that could tell you everything you need to know before making a move, home market trends, the good and especially the bad.

Google: "relocation consultants Indianapolis"

Krazeehorse
Tuesday, April 13, 2021 10:26:00 AM
I think selling is best Dr. They will clean up on that sale. Gene, I am not sure if it's permanent. I think they THINK it is but I am under the impression they thought Savannah was too. I want them to have some flexibility if they want to pull up stakes in another 5 years.
Sunoverbeach
Tuesday, April 13, 2021 10:42:21 AM
I would vote for selling. We were landlords for a few years after the housing market crashed and I wouldn't want to try dealing with that from out of state
Speyside
Tuesday, April 13, 2021 10:54:10 AM
Sell, sell, sell. This is absolutly a sellers market. List it for higher than it's worth. There are literally bidding wars going on. Also with concerns about the economy many corporations are buying property and homes.

Do not buy. Rent or lease. Perhaps a lease to own.

frankj1
Tuesday, April 13, 2021 11:24:45 AM
shortage of listings.

abundance of buyers.

low low low interest rates...

sell now. worry about five years from now in five years.

If still strong, sell again.

If the market weakens, rent is an option until R.E. values rise again.

delta1
Tuesday, April 13, 2021 2:35:00 PM
agreed...sell and buy a house in a good location close to work...

like DED said, anybody remember a housing crash other than the one that was artificially created in 2008?

but there are local concerns about buying in a depressed area...think Flint, MI ...Atlantic City, NJ...Las Vegas, NV

don't think Indianapolis is one of those but do some research of economic conditions there

rfenst
Tuesday, April 13, 2021 2:58:39 PM

Sell, sell, sell. This is absolutly a sellers market. List it for higher than it's worth. There are literally bidding wars going on. Also with concerns about the economy many corporations are buying property and homes.

Do not buy. Rent or lease. Perhaps a lease to own.

Speyside wrote:

x10

Ideally, sell now to realize great appreciation before there is a recession or higher interest rates, which will drive down the value of their existing house. Rent to get used to the area and wait the market downfall to buy. Condos aren't doing well in Orlando and if that is the case renting one won't be too expensive. Renting out a house while living out of town is a recipe for disaster. FYI:

https://digitaledition.orlandosentinel.com/html5/desktop/production/default.aspx?edid=172909c9-2d88-4614-8539-3ee746c86f6b 

Dg west deptford
Tuesday, April 13, 2021 4:56:46 PM
Or buy & hold.

Or buy, flip, repeat & hold the special ones.

Especially farm/ranch/ orchard acreage with good water source.

Forrest's for harvestable lumber

Fortified communities with bunkers

Shh don't tell anyone but Israel understands diluting citizenship would destroy the nation.

Soon a bag of bread will buy a bag of gold

delta1
Tuesday, April 13, 2021 5:14:31 PM
a quick look at the Indianapolis market;

https://learn.roofstock.com/blog/indianapolis-housing-market 

if your son plans to live and work in Indianapolis for a long while, prolly a good idea to buy, since the housing market there is projected to go up some more...

Jsnyder147
Tuesday, April 13, 2021 5:37:08 PM
Indianapolis home market has been insane for the last two years. We gained 40% on our previous home after 4 years. If your soon is looking, I highly recommend Fishers or Fortville. The homes are just going to keep going up in value as space is running out to build new homes. If you’re in the area let me know! It’s a wonderful city.
Sunoverbeach
Tuesday, April 13, 2021 6:38:46 PM
I heard there were some unsavory characters in the Fishers area
delta1
Thursday, April 15, 2021 8:03:11 PM
one last point...interest rates for 30 year mortgages aren't gonna be this low (2.75%ish) for much longer...
Jsnyder147
Thursday, April 15, 2021 8:07:36 PM

I heard there were some unsavory characters in the Fishers area

Sunoverbeach wrote:

This is very true. You’d fit right in down here.

Sunoverbeach
Thursday, April 15, 2021 9:51:17 PM
😂 Touche
delta1
Friday, April 16, 2021 9:34:46 PM
uh oh............3 mass shootings in Indianapolis this year....
izonfire
Friday, April 16, 2021 9:37:36 PM

uh oh............3 mass shootings in Indianapolis this year....

delta1 wrote:

And you happened to be "visiting" around the time of each incident... 🤔

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