Living In Pike.com

A Real Estate Resource/Blog for Pike Township, Marion County Indiana

As Of 8/11/2010 In Pike Township There Are:

660 Houses/Condos For Sale With An Average Time On The Market Of 117 Days
122 Houses/Condos That Are Now Pending - Average Days On Market 88
9 Houses/Condos Sold Month To Date (August 2010) Avg Days On Market - 54
623 Houses/Condos Sold Year To Date (2010) Average Days On Market - 82
(Down 6.3 percent from 2009 YTD)
665 Houses/Condos Sold Year To Date (2009) Average Days On Market - 92
1143 Houses/Condos Were Sold In Pike Township In 2009 - Unaudited

Numbers Taken From MIBOR's BLC.
Information Is Deemed Reliable But Not Guaranteed.

Pike Township Foreclosure Study's

Pike Foreclosure Study 2006 (30 Pages In PDF Format)
Pike Foreclosure Study 2007 (47 Pages In PDF Format)
Pike Foreclosure Study 2008 (45 Pages In PDF Format)

April 16, 2006

Closings

by Tim @ 7:23 pm. Filed under Buyers, Sellers

The end of the month is the most popular time for houses to close. The number one reason being the buyer does not have to pay interest on their loan. If you close in the middle of the month, the buyer has to pay interest (no principle) on their loan from the time they close until the end of the month. This can be several hundred dollars.

On average it takes about a month from the time you have an accepted contract. This also can vary. FHA loans take longer because it requires an FHA inspection. You are at their mercy. Other reasons include regular home inspections, the time that it takes to get a loan and the wishes of the seller to name a few. The buyer gets to pick the closing date in the Purchase Agreement. The seller has the right to accept that date or negotiate.

Top reasons that closings don’t happen; the buyer can’t get the loan, the inspection report turns up major defect that the seller will not repair, the buyer can’t get insurance for the new home or the buyer refuses to live with the Covanents, Conditions and Restrictions of the Home Owners Association (This rarely happens but is in the Purchase Agreement and consequently can be a reason for not closing.)

I have seen the time it takes from an accepted offer to closing as short as a weekend and as long as 2 months.