WEBVTT

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>>GERRY: HELLO AND WELCOME TOINSIDE INDIANA BUSINESS.I'M GERRY DICK.SPRING IS THE BUSIEST TIME OF

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THE YEAR FOR THE RESIDENTIALREAL ESTATE MARKET.FROM BUYERS AND SELLERS TORENTERS AND FLIPPERS... EVERYONE

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WANTS A PIECE OF THE REAL ESTATEPIE AND FOR THE NEXT HOUR, WE'LLEXPLORE THE INDIANA TRENDS,CHALLENGES AND OPPORTUNITIES IN

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THIS SOMETIMES VOLATILEINDUSTRY.NEARLY A DECADE AFTER THEHOUSING CRISIS OF 2008, HOME

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PRICES ARE UP, FORECLOSURES AREDOWN, HOUSE FLIPPERS ARE IN ANDMILLENNIALS ARE MOVING OUT OFTHEIR PARENTS' BASEMENTS AND

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INTO THE MARKET.AND FOR MORE ON THE HIGHS ANDLOWS OF THE HOUSING MARKET ANDWHERE WE STAND IN INDIANA...I'M

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PLEASED TO BE JOINED BYBERKSHIRE HATHAWAY HOMESERVICESINDIANA REALTY MANAGER GREGCOOPER.

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AS I WAS WELCOME TO THE PROGRAM.>> GREAT TO BE HERE.>> TALK ABOUT SOME GOOD NEWSLET'S START WITH THE BAD, A

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DECADE AGO THE HOUSING BUBBLEBURST AND 2008 AND NINE, HOW BADDID IT GET?>> AT THE END OF 2008 WE

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NOTICED SOMETHING STRANGE WAS AFOOT AND IT WAS AWFUL.SO MANY PEOPLE LOSING THEIRHOUSES AND IN DESPERATE SPRITES

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TO KEEP THEIR HOUSES, A TOUGHTIME.>> FORECLOSURES IN INDIANAVERY TOUGH.

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>> WE WERE AT THE TOP OF THELIST FOR SOMETIME.>> FAST-FORWARD TO TODAY, HOWWOULD YOU DESCRIBE THE HOUSING

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MARKET?IT'S A VERY ACTIVE.>> IT'S CHANGED IN THE LAST 24HOOKUP 46 MONTHS.

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NEW HOME CHOICES FOR CONSUMERSAND A LOT OF PROPERTIES HAVEBEEN DATED AND SOMEWHAT OBSOLETEARE GETTING FLIPPED AND REDONE

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AND RE- ENTERING THEMARKETPLACE.>> WHERE THEIR LESSONS LEARNEDFROM THE CRASH 10 YEARS AGO?

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>> THERE WERE LESSONS LEARNEDAND I'M NOT SURE HOW CLOSELY WEARE ADHERING TO IT, BUT THEMARKET IS NOT THE SAME AS IT WAS

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THE LAST CRASH.>> LET'S LOOK AT SOME TRENDSYOU ARE SEEING IN THE MARKET.HOME FLIPPING.

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A BIG ISSUE.>> IT USED TO BE WHEN WESTARTED WALKING OUT OF THE CRASHIT WAS 70,000, 90,000, 140,000

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OTHER HOMES AND NOW YOU SEE ITACROSS ALMOST EVERY PRICE POINT.10 YEARS FURTHER ALONG FROM THEBUILDING BOOM OF THE EARLY

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2000'S AND A LOT OF THOSE HOMESLOOK DATED SO NOW THE NEWERKITCHEN STYLES AND BATHROOMSTALLS HAVE BEEN PUT IN AND THEY

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ARE BEING REPURPOSED AND THEYHAVE BEEN RESOLD FOR HIGH-VALUEUS.>> IN TERMS OF AMENITIES YOU

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SEE THOSE TRENDS IN MASTERBEDROOMS, BATHROOMS ANDKITCHENS.>> THE KITCHEN WAS EVERYTHING

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AND IT'S STILL IMPORTANT, BUTTHE MASTER SUITE AND KITCHENBECAUSE OF THE HIGH QUALITYAVAILABLE THEY ARE RUNNING AT AN

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EVEN PARALLEL.>> WE'VE TALKED ABOUT ANINVENTORY ISSUE AND HOW WOULDYOU DESCRIBE THE MARKET?

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IS IT A SELLERS MARKET?>> YES, AND IF YOU HEAR THISON YOU THINK I ONLY HAD A COUPLEOF SHOWINGS WHAT'S THE DEAL.

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IT'S NOT UNIVERSAL, BUT BY ANDLARGE THE TREND IS SELLERS WHOHAVE A GREAT HOME THAT ISUPDATED YOU WILL HAVE AN

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EXCELLENT OPPORTUNITY TO DEMANDTOP VALUE.>> ARE THERE CERTAIN PRICERANGES WHEN DETERMINING WHETHER

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THIS A SELLERS MARKET ARE NOT.>> DEPENDING ON YOUR GEOGRAPHYAND THE STATE AND REGION AS YOUGO THROUGH 20,400,000-DOLLAR

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RANGE INCREDIBLY ACTIVE BEYOND AHALF MILLION IT'S A LITTLE LESSSIGNIFICANT IN TERMS OF EACHAREA HAS ITS OWN LEVEL OF

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DEMAND.>> WHAT ABOUT FINANCING, IS ITEASIER TO GET FINANCING NOW?>> UNFORTUNATELY AND I'M NOT

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SUPPOSED TO SAY THAT, BUT THEREALITY IS THAT WE HAVE REALLYGONE BACK TO A LOT OF LOANS THATARE SOMEONE EASY TO GET AND THAT

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ALWAYS WORRIES US A LITTLE BITAFTER WHAT WE'VE BEEN THROUGH.>> SO ON ONE HAND GOOD NEWSFROM THOSE WANTING TO BUY AND

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GET FINANCING, BUT THAT GOT USINTO THE PROBLEMS A DECADE AGO.>> A LOT OF THINGS CONTRIBUTEDTO THE PROBLEM A DECADE AGO EASY

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FINANCING WAS ONE AND I DON'TTHINK IT'S CRITICAL MASS YETWITH THE MANNER IN THEFINANCING, BUT IT'S SOMETHING WE

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HAVE TO WATCH.>> HERE'S SOMETHING THAT'S ASURPRISE TO ME AND YOU SEE IS ABIG ISSUE RIGHT NOW IN CLOSINGS

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AND REAL ESTATE TRANSACTIONS,WHILE YOU'RE FRAUD.>> PEOPLE DON'T UNDERSTAND BADGUYS CAN GET IN FRONT OF YOUR

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MONEY AND A LOT OF DIFFERENTWAYS AND HERE'S HOW IT'SHAPPENING.BAD GUYS WATCH FOR E-MAILS THAT

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CONTAIN REAL ESTATE ANDSETTLEMENT STATEMENTS ANDCLOSINGS AND ESCROWS AND WHYYOUR AMOUNTS AND THEY HACK INTO

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THESE ACCOUNTS AND GO SO SIMPLEAS TO CHANGE ROUTING ACCOUNTNUMBERS.WE'D HAD INSTANCES WHERE MONIES

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COMING FROM TITLE COMPANIES INSOME CASES THE ACTUALINFORMATION WAS CHANGED AND GOTWIRED TO AN OFFSHORE ACCOUNT.

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WE WERE ABLE TO STOP SOME OFTHOSE.>> THIS IS A SERIOUS ISSUE.>> WHEN YOU THINK ABOUT ALL

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THE PROCEEDS FROM THE HOME YOUARE IN AT YOUR CLOSINGPOTENTIALLY VANISHING INTO THINAIR, IT'S A HUGE DEAL.

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>> THAT'S ONE TO KEEP AN EYEON.WIRE FRAUD GOING FORWARD.FINAL QUESTION, 2017, THE

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OUTLOOK GOING FORWARD, YOU AREPAINTING A POSITIVE PICTURERIGHT NOW, BUT WHAT ABOUT THEREST OF 2017?

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>> A SLOW ESCALATION IN HOMEMORTGAGE RATES AND THAT MAY NOTBE A TERRIBLE THING IN THERESPECT THAT WE WILL GO FROM A

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HARDCORE SELLERS MARKET IN MANYCASES TO PERHAPS BUYERS ANDSELLERS ARE DOING AT A LITTLEMORE OUT OF NECESSITY INSTEAD OF

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SIMPLY THERE'S AN OPPORTUNITY.>> GREAT PERSPECTIVE.