January 2018 Mortgage Market Share Report

February 14, 2018

Despite the continuing acute home inventory shortage, the Monroe County 2018 purchase market is off to a good start. Through February 12^th, our property records data base shows 189 recorded transactions so far this year. This compares favorably to the same period in 2017 when there were 183 transactions. The numbers of new contracts upon which we?ve received title orders show a similar comparison. Although it?s too early in the year to be one hundred percent confident about the market, indications are pointing to another great year!

The State of Indiana Department of Local Government Finance approved Monroe County?s 2017 pay in 2018 real estate tax budget on February 9^th. Next, the county must publish the rates three times and make the new tax amounts available to us. Then they will be official and can be used for tax pro-rations. Most likely this will occur in the next four to six weeks. If you?re interested in the new tax rates, here?s a link: http://www.in.gov/dlgf/files/Monroe%20County%202018%20Certified%20Budget%20Order.pdf

Effective with all closings in our office on or after March 19^th, 2018 we will be applying a twenty-five dollar increase to our search, examination and clearance fee for owner?s and refinance loan policies. We are preparing new rate sheets for dissemination to our clients that will be forwarded within the next week or so.

Our important team metrics continued to be good in January. And the seasonal slowdown allowed us to make real headway on a few important projects, as well. Our closing team produced seller side closings statements in two or more days prior to closing in 100% of our transactions. Our average title commitment production time for Monroe County orders was 3.7 days. And we helped 206 people buy, sell or refinance their properties.

~ John Bethell