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NEIN market states Sold by the Gold

Local Market Update June 2022

Local Market Update from Beth at SOLD BY THE GOLD 

Has the local housing market slowed down? Are home prices beginning to soften due to the rising interest rates? Both of these questions are usually asked of me at least once a day and my reply is simply, let’s compare the local market data with the national housing data.

Nationally, there are clear signs the housing market is slowing with increased mortgage interest rates and declining sales for the third consecutive month. The increasing price of entering home ownership has impacted first time buyers the most. Many economists predict home sales will continue to soften which in turn will provide a much-needed lift to housing supply.

As economists and real estate professionals across the country look to the typical year over year comparisons of housing data to predict expectations for the last half of 2022, one of the biggest challenges is to accept the unbelievable performance of the housing market in the last 2 years. Out of the ordinary circumstances such as all-time low mortgage rates, remote work, and a shortage of housing supply and building materials made 2020 and 2021 historical years for real estate. Therefore, drawing a comparison to them should be kept in perspective. With 17% of the entire country’s GDP attached to real estate, understanding where the real estate market is headed is vital information.

The local market data as of May 2022 showed an 18.4% increase in median sales price and a decrease of 31% of housing affordability in our region. The Housing Affordability is an index of the median household income necessary to qualify for the median-priced home under prevailing interest rates. Locally we have seen a decline in affordability for 12 consecutive months but the dramatic change in affordability will continue with rising interest rates and continued increase in the median sales price.

In summary, the local market pace is slowing slightly because affordability is making it very difficult for some buyers. However, those buyers are still eager to enter the housing market because rent prices have equally escalated. Since it will take several years to increase the housing supply, home prices will not be dipping anytime soon. If you need any real estate assistance, don’t hesitate to contact Beth at Sold by the Gold!

Storm Damage 2022

As you’re aware, many Windsor homes in Southwest Fort Wayne sustained some type of damage from Monday night’s storms and winds.  There are messages coming in asking about products, colors, installers, etc.  The intent of this memo is to let you know that we can be a resource if you need information regarding the products and selections of your home. If you need to turn anything into insurance, contact your own insurance agent and they will walk you through everything.

Here is a list of a few vendors that we used to build your Windsor Home:

Andersen Windows – Home Lumber – 260-493-4436

Certainteed Shingles – Reese Wholesale – 260-484-7759

Royal Vinyl Siding – Reese Wholesale – 260-484-7759

Gutters – Sublime Dezigns – 260-740-2660

Also, If you have any questions about your selections for colors, you can still access your portal on BuilderTrend. Visit https://www.mywindsorhome.com/ . The BuilderTrend access can be found at the top of our home page. Once you’re in the BT portal, you can find your custom selections under the FILES drop down menu, then click DOCUMENTS and then find the SELECTION SHEET folder.  If for some reason, your BT access has expired –  we still have your paper documents on file. You can email us at info@mywindsorhome.com and request a copy of your selection sheet. Remember to include your address, lot number and neighborhood in the email.

Please be patient with us and our vendors/ trades people, this will take some time to clean up. Jason Myers and Canyon Alexander will be around today to help clear debris. Together, we can all help get our neighborhood back up to par… or birdie (for you golf lovers).

Downtown_Fort_Wayne

April Club meeting info

Welcome to Fort Wayne, Club Members!

We’ve requested a Fort Wayne City Guide be sent to your home address.  We hope you’ve received it and are excited to see what Fort Wayne has to offer while you’re visiting.

Map and Directions to downtown Fort Wayne: Here

Places to Eat: Here

Here are some things to do around Fort Wayne:

snow ice

Ice Damming in Gutters

Message from our team:

Windsor Homes is aware of a couple cases of ice damming this year due to a few weeks of severe weather. We’ve protected your valleys and eaves with an ice and water membrane so there is not likely any internal damage. You should, however, inspect your gutters for damage as the weight of the ice/snow can pull them from the house.

Photo by Sindre Strøm from Pexels