The global economy took a big hit over the past year, but the residential real estate market has been very strong in the United States. Some of the hottest markets are here in Indiana.
According to Realtor.com’s latest rankings, Cour d’Alene and Lafayette-West Lafayette are among the top 20 hottest housing markets in the nation. The rankings are based on two factors: market demand (as measured by searches on the company’s website) and number of days homes remain on the market (as based on the number of days they are listed on the company’s website).
According to Realtor.com, affordability may be the single greatest factor behind the strength of these markets. Nearly all are in so-called spillover areas near big urban centers. As buyers are priced out of the cities and inner suburbs, they look to these markets.
Still, the prices in these areas are not exactly cheap. In Cour d’Alene, the median home price was $872,000. In the Lafayette-West Lafayette market, the median price was $288,000.
Real estate law
A purchase of a home is a profound investment in terms of finances, time and emotional attachment. For many people, the purchase of a home represents the single greatest financial investment they will ever make.
But the purchase or sale of real estate is also fundamentally a legal transaction. It is a way of transferring the rights of property ownership from one party to another.
Real estate lawyers can help buyers, sellers, developers and others in a variety of ways. They help with title issues, financing, planning and resolving any disputes that come up in the course of a transaction.