NW Indiana real estate market (Gary, Valparaiso: houses, buy, subdivision)

[cd771]

Anyone have any idea how the NW Indiana real estate market is doing? We are about to close on a house in Valparaiso and recently found out my husband is expected to lose his job early next year so we will probably be putting the house on the market early spring. I expect we will lose some money but hoping it won't be too much. How long do houses typically stay on the market in this area? Also does acreage help or hurt? We are debating if we could afford to hold onto it for another year in hopes the market improves.

***this is posted on the real estate board also, wasn't sure which one would be better for a question like this***

Also, if we do have to sell right away, whats the best realty company in the area to get a home sold?

Thank you for your help.

[domergurl]

Originally Posted by cd771

Anyone have any idea how the NW Indiana real estate market is doing? We are about to close on a house in Valparaiso and recently found out my husband is expected to lose his job early next year so we will probably be putting the house on the market early spring. I expect we will lose some money but hoping it won't be too much. How long do houses typically stay on the market in this area? Also does acreage help or hurt? We are debating if we could afford to hold onto it for another year in hopes the market improves.

***this is posted on the real estate board also, wasn't sure which one would be better for a question like this***

Also, if we do have to sell right away, whats the best realty company in the area to get a home sold?

Thank you for your help.

My god!!! I am so sorry ... we've been with you this entire time and I wasn't expecting to hear such bad news.

I'm going to pm you the realtor we used when we sold our house in 4 days in Valpo.

Best wishes to you!

[cd771]

domergurl:
Thanks for your help again. I got your pm and printed it out. It's stressful but I'm trying to be optimistic. I'm still happy to get to know Valpo, even though it will probably be for a much shorter time then I'd like.

Thanks again.

[Chuckity]

Things are selling ... but slowly.

I think it really depends where you are price-wise - under $200 and if it shows well will still sell fairly quickly. (My last two listings that sold quickly were both priced between $150-160K, fairly updated and showed well, both sold with multiple full price offers in less than a week.)

Acreage is really individual - some people want it, some would rather be in a subdivision.

IMHO, no one company will help or hurt (as long as they participate in the MLS) ... the agent (not the company) is the key.

BTW, did you come down for Popcorn Fest?

[cd771]

Thanks Chuckity. We did not make it to the popcorn fest but I would love to go. If things work out and we are still around next year I will definitely attend. Thank you again for your help.

[Capt. Dan]

I think this goes along with this thread.
If a person had the cash, I think they could buy tons of property in Gary right now very cheaply. Hoping that things will improve enough to make a handsome profit down the road. If things dont turn around there you could always sell it cheap like you bought it. It may be worth the effort.