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Third Quarter Report Reveals Vastly Different Foreclosure Market

 
 
INDUSTRY
INSIDER
   
Industry Insider is a publication distributed by MIBOR every other Friday to Managing Brokers. 


 
 
 
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Third Quarter Report Reveals Vastly Different Foreclosure Market

The Q3 2014 Foreclosure Report issued by MIBOR reveals that foreclosed homes made up only 8.9 percent of all central Indiana closed sales in the 3rd quarter of 2014. This is down from the 15.1 percent market share in the same quarter of 2013 and 20.9 percent in 2012. Foreclosure listings dropped as well, now representing 7.8 percent of all listings in the third quarter. The majority of foreclosure inventory continues to hover in the $120,000 and below price range.

The median foreclosure sales price was up 12.5 percent to $74,450. In third quarter, foreclosures yielded an average of 88.9 percent of list price while traditional sales yielded 93.6 percent. The last page of the report includes a breakdown of foreclosure inventory, closed sales and median sales prices by county. Click here for full report. Archived reports can be found in the market data section of mibor.com. Click here to access. 


 
 
 
 
 
 
 
 
 
 
 
 
     
  TECH TIP   
  Matrix™ Presentation Style Training Registration Begins  
  The presentation style training options for Matrix™ training have been scheduled for early December and registration is open now. Due to seat capacity at each session, it is necessary to register for a specific session. Members are also asked to bring their SentriLock card to any training session to facilitate electronic sign-in. Click here to register online. 
         
  QUICK STAT  
  Link directly to any school district info from Indiana Department of Education’s Compass report through the School District Interactive Map on The Stats House® database Data Tools page.  
         
  OTHER NEWS      
  Board of Directors Approve Dues Change  
  The 2015 MIBOR budget was presented to the Board of Directors during their October Board of Director meeting held Wednesday, Oct. 22. Staff presented the 2015 organizational plans and budget implications. Prior to the Board meeting, the full budget was reviewed and debated among the member-led Finance Committee. The Finance Committee advanced the budget presented to them with a recommendation to increase REALTOR® dues by $15 in 2015 (see rationale). Following the budget presentation by staff, the Board voted to accept the Finance Committee’s recommendation which includes the $15 increase noting that it is the first increase since 2010. The increase will appear on the dues statement sent in May 2015. MORE  
     
  MIBOR Officers Elected  
  At the October Board of Director meeting held Wednesday, Oct. 22, new officers were elected to lead the Board in 2015. Kathy Hall, Berkshire Hathaway Home Services Indiana Realty Group will move from President-Elect to President. Jason O’Neil of Encore Sotheby’s International advances from Secretary/Treasurer-Elect to Secretary/Treasurer. Newly elected are Roger Lundy, Keller Williams Indy Metro North as President-Elect and Lynn Wheeler of F.C. Tucker Company as Secretary/Treasurer-Elect. All the positions are one-year appointments which begin January 2015. Congratulations to all the newly elected officers.
 
 
     
     
  CALENDAR      
  All Month: For information on MIBOR Division meetings MORE  
  All Month: Free BLC® Training MORE  
  November 10-14: REALTOR® Appreciation Week MORE  
  November 18: Krav Maga Self-Defense Class MORE  
  January 17: MIBOR Ball is Better than Ever! MORE  
  Ongoing: Online Calendar of Events MORE  
 
 
2014 Metropolitan Indianapolis Board of REALTORS®
1912 N. Meridian St., Indianapolis, IN 46202
317­-956­-1912 
www.mibor.com
 
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