region-news
Flash is not supported on this device. If you wish to listen to this audio, you must download and play an mp3 using an mp3 player on your device. CLICK HERE

Press the play button to hear the latest news from THE REGION.


Region-News-Team-Black-Logo

Region Real Estate Values Going Up

Share this post

People in surrounding states seeking property bargains are finding them but usually not in their own state.  Instead, people are moving to the Hoosier state, especially the Region.  Peter Novak, Chief Executive Officer of GNIAR, Greater Northwest Indiana Association of Realtors, says "Indiana has a big advantage over some of our neighboring states."  Novak says that for the most part, the state has pretty low property taxes, "capped by state property tax caps."  So, compared to Illinois, Novak says there is a pretty big difference with Indiana right now.  On Top of that, Novak says that locally there has been 16-months of increased sales and that that is "a very good sign for us locally."  GNIAR partnered with the South Shore Convention and Visitor's Authority's new website to is easy for transplant to relocate to the Region, just by visiting the new website, http://www.southshorecva.com.

 

While it has been a basically a buyer's market for the past four to five years, an upward trend in real estate values in the Region is tempting homeowners to sell.  However, Novak says something else is driving the upward trend,  a lot of "pent up demand," that is a huge number of buyers "who put their life on hold for three or four years."  These people want to move for a number of reasons but realized that it was not a great time to be a seller, as a result delaying their decision.  But Novak says with the low interest rates and the fact that consumer confidence is increasing and the housing market is showing signs of new life, regular buyers are returning to the market.

 

Novak made those comments at Wednesday's unveiling of the new website for the South Shore Convention and Visitors Authority at the Indiana Welcome Center in Indiana.

Peter Novak GNIAR

 

 

 

 

 

 

 

 

 

Peter Novak, Chief Operating Officer, GINAR, (Greater Northwest Indiana Association of Realtors) at the Indiana Welcome Center in Hammond.

(photo courtesy of jstevens )

 

#     #     #

 

 


Meet-The-Team

Laura-WAKE Scott-WAKE Brent-WAKE
LAURA WALUSZKO
Region News Team
SCOTT ROSENBERG
Region News Team
BRENT BROWN
Region News Team
Jay-WAKE Karl-WAKE Annie-WAKE
JAY STEVENS
Region News Team
KARL BERNER
Region News Team
ANNIE FOX
Region News Team

Recent-Newscast

Flash is not supported on this device. If you wish to listen to this audio, you must download and play an mp3 using an mp3 player on your device. CLICK HERE