(La Porte, IN) - There’s no end in sight to the real estate bull market. That’s according to La Porte City Councilwoman Laura Konieczny.
Konieczny, who is also a realtor, says the housing market is as hot in La Porte as everywhere else. "It's across the board," she says. "To watch these trends over the last twelve to twenty-four months, I keep saying this can't go on forever, but I've elected to stop saying that now, because there doesn't seem to be an end in sight".
According to Konieczny, houses in La Porte routinely sell in a matter of days, if not hours. She says when escrow agents ask her how long a property was on the market, she usually replies zero, one, or two days. Konieczny attributes the situation to a strong economy, high consumer confidence, low interest rates, and the dynamics of supply and demand.
According to the National Association of Realtors, the median price of single-family homes across the country is up 20 percent from last year. Nationwide, average time on the market is a record seventeen days.
Konieczny advises buyers to be patient and stand their ground. She says antsy buyers sometimes want to rush important steps, like home inspections. "Folks have gone down the road of waiving inspections altogether," she says. "To me, that's a little risky."
Konieczny says she’s in favor of Mayor Tom Dermody’s plan to grow La Porte, not only to meet demand, but also to grow the city’s tax base.