As we come to the end of 2011 I want to look forward to 2012 and make some predictions about the real estate market in Muncie and Delaware Co, IN.  2011 was a very difficult year and when the final tallies are in, we're probably going to see unit sales down about 10% from 2010 and average sale prices about equal to 2010.The good news is that most of the problems were in the first half of the year and that 5 of the last six months have been better than their 2010 counterparts. Looking ahead, I think 2012 will remain relatively flat with some improvements in the second half. There are more optomistic predictions beginning to appear in the media, but many of those predictions are based on improvements from very dismal prior years. If you look at the formerly "hotmarkets" like CA, NV and FL... 12/30/2011

The following article was posted by CNBC on Yahoo Finance last Fri. Those of you who read me regularly know that I usually ignore national market information because all real estate is local. This time, however, our Muncie-Delaware Co. market data seems to be reflecting many of the characteristics of the predicted recovery. Our unit sales have exceeded those for the same period in 2010 for the past 5 months. Average sale prices are also up. Here's the article. "After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound.In some metropolitan areas, the market has bottomed, with both sales and prices on the rise and foreclosures on the decline. This contrarian - and largely overlooked - thesis... 12/15/2011

The election is now only 10 days away and it will be a critical election for Muncie, IN residents. Running for re-election is an experienced mayor with a strong track record of accomplishment. She has not only operated within a very challenging budget but will finish her term with reserve funds for next year. She has saved taxpayers $500,000 by not having to borrow money to cover operating expenses while awaiting property tax distributions. She has also been effective in building international relationships and working with economic development people at all levels to bring new jobs to Muncie. Our parks have received long-delayed attention and have added greatly to our quality of life. Prairie Creek Park has become an income producer for the first time in history and will return a $90,0... 10/28/2011

It's probably too early to get excited, but the third quarter 2011 residential real estate results for Delaware Co. In are in and we may have turned the corner. Third quarter unit sales were up nearly 3% over the same quarter in 2010 and it was the first time in the past 4 quarters that units sold had exceeded the same period in the previous year. Year to date is still behind due to very low activity in the first 2 quarters of this year. It does look like the rest of 2011 has a good chance to exceed the fourth quarter of 2010 and the improvement should carry on into 2012. The number of reposessions has leveled off at around 25% of sales, down from over 33% at its highest level. Short Sales remain a non-factor, accounting for less than 3% of units sold.  Even better news is that average ... 10/10/2011

Why do some houses sell more quickly? People often ask me that and here's a tale of two homes, across the street from each other in Muncie, IN. that I think shows two of the reasons. Both houses are well kept and updated, yet one sold for full list price in 35 days and the other, while it's now "pending" has been on the market 256 days. This is the house that sold for full list. Its general appearance and especially the landscaping produces a terrific "curb appeal." Anyone looking at photos on-line or driving by the property can't help but be attracted. The flowers are abundant with tastefully matched colors. The window box of white Impatiens is eye-catching and the picket fence along the front walk gives a nice accent to the planting bed.  House #2 across the street is larger and has a... 10/06/2011

 Let's expand the RR quiet zone. There's a lot of controversy in the City Council about the proposal for creating a downtown "quiet zone" where passing trains would be prohibited from sounding their horns at crossings. Currently they must do so by federal law unless that is over ridden by local statutes. I live in Riverbend Commons near the intersection of Morrison Rd. and River Rd. Approx 1 mi. south of us are the CSX tracks and less than a mile north of us are the Norfolk-Western Tracks. Depending on the atmospheric conditions and the engineer at the time it almost feels like I could reach out and touch trains on either of those tracks. They are blowing non-stop and when there are trains on both tracks at the same time, it sounds like diesel horns in stereo. There are few ungarded cro... 09/27/2011

Good News: Our local Star-Press business columnist wrote a nice article for yesterday's paper quoting sales statistics from the IN Assoc. of REALTORS, stating that the housing market in Delaware Co. is improving. We don't often get postive headlines and articles in the press, so it was great to see both a positive headline and article. Bad News: The statistics quoted in the article were incorrect. I'm sorry to say that our market is not getting better. The Star-Press article claimed a 5.2% increase in sales, with 263 units closed June through August in 2011 vs 250 closed sales for the same period in 2010. In reality, we had 267 sales in 2011 vs 268 during the same period in 2010. The column also stated that median sale price had declined $84,750 in 2010 to $78,900 in 2011, whereas the a... 09/26/2011

Next year, the city of Muncie will be negotiating labor contracts with both the police and fire unions. In addition, the federal grant that paid to bring back 25 laid off firefighters will expire. In light of the federal government's budget reduction programs it seems unlikely to be renewed. Over 80% of the city's budget is spent on public safety, mostly wages and benefits for the police and fire departments. Property tax caps and declining property values have limited the total amout of revenue that can be obtained from property taxes. Two candidates for the upcoming city election are directly tied to the fire department. The Democrat candidate for mayor is a retired fireman who retains strong ties to the fire union and one of the Democrat candidates for City Council at Large is the wi... 09/22/2011

Three new listings of homes for sale in the Storer neighborhood appeared in the past week and two previously pending homes sold and closed. The inventory of active lisitngs remains about where it was. Looks like Constitution Day at Storer was a success and there was a nice article with picture in the Star-Press. Here's a link to Storer's web site for upcoming activities in Sept. http://www.muncie.k12.in.us/storerweb/aboutus/eventscalendar Bev & I enjoyed the Ball Sate game on Sat. and it was great to see the Cards come back and win. Maybe they should give the Colts a few tips. Sun. we went to the Johnny Appleseed Festival in Ft. Wayne. Great food, lots of stuff to buy, interesting re-enactors and an all around good time.   09/19/2011

Even though it's still summer for 5 more days, fall is in the air and it's my favorite time of year. Last weekend, Bev and I went to the Covered Bridge Festival in Matthews and this weekend we're going to hit both the Old Washington St. Festival in Muncie and the Johnny Appleseed in Ft. Wayne. I'm giving up trying to loose weight until the last elephant ear is gone. Ball State opens it's home season tomorrow night and we're going to that as well. I've been very impressed by the new attitude in the BSU football program and I'm looking forward to cheering their success. Basketball season isn't far off either and it will be a pleasure watching Nick Osborne (neighbor's son) complete a terrific high school career at Central. All this and I haven't even mentioned the fall foliage. What a grea... 09/16/2011

Real estate activity in the Storer School Distric pretty well reflects the overall Muncie-Delaware County market. Through the first 8 1/2 months of 2011 there have been 80 homes sold averaging just over $90,000. Original asking price average for these homes was $99,530 and it's taking just about 126 days from list to close. There are currently 75 for sale withg an average asking price of $106,430. Real estate is very, very localized however so if you want specifics for your home, please contact me. Looking at Del. Co. as a whole, the average selling price has been under $90,000 and the average list to close time is around 140 days. I'll have more specific information to report in about a month when the third quarter data is available. If anyone has any neighborhood news or events they'd... 09/14/2011

Grandparents Day is this Thurs.9/15 at Storer Elementary. Here's a link to the Storer web site for complete details. http://www.muncie.k12.in.us/storerweb It's great to visit and to support both the children and the educators. 09/13/2011

Muncie received about 12.8" of snow by Wednesday mid-morning!    The local news is reporting that is the most since 1950! It seems amazing to me how we can receive that much snow and just like that, everything is plowed out and business is operating as normal once again.  I think the Muncie street dept. did a great job! I have always been facinated with snow and am really enjoying it.  I suggest everyone take advantage of the snow this weekend and head to McCullough Park and do some sledding down the hills.  It's been a couple years since I last went there but it was a lot of fun and FREE! Keep warm and enjoy the snow, spring is just around the corner. 01/29/2009

Hello all!  It's been awhile since my last post.   I just wanted to wish everyone a Happy Thanksgiving and remind everyone no matter what you are hearing on the media, NOW IS A GREAT TIME TO BUY A NEW HOME ONLY 3% DOWN PAYMENT IS REQUIRED!   Just yesterday we received news that the rates have dropped again.  In addition to the rates being at an all time low, there are plenty of homes to consider.    If you are considering a move in the Delaware County Area please feel free to give me a call 765-744-9500 or email Ryan@ORRHomes.com anytime!   Best Regards, Ryan 11/26/2008