RE/MAX Leads Rebound in Kokomo Real Estate Market

Homes sold up 25 percent over same period last year

KOKOMO, IN – June 6, 2011 – (RealEstateRama) — RE/MAX of Indiana reported strong home sales in Kokomo the first four months of this year, despite the sharp decline experienced by the overall market. The number of homes sold by RE/MAX Realty One in Kokomo from January to April 2011 was up 25 percent over the same period the previous year.

This is in contrast to sales numbers reported by other real estate agents in Kokomo overall who reported selling 19 percent fewer homes during the first quarter of 2011, compared to the same period in 2010. That’s a 44-percent gap between RE/MAX and other local agencies, which is being partially attributed to the solid selling reputation of RE/MAX in Howard County.

“We have a trusted name in the market,” said Penny Irwin, broker of RE/MAX Realty One. “From the services we offer, both online and from our full-time staff in the office, people in Kokomo know that nobody sells more real estate than RE/MAX.”

The recent positive economic news coming out of Kokomo gives reason to be optimistic. In addition to Chrysler’s $1.1 billion investment in its transmissions plant and other new business growth, Kokomo is teaming up with Marion to create the Midwest Automotive Loop. The new partnership between the two cities will work to attract additional manufacturing technology investment to the region. And that means putting more residents of Kokomo back to work.

“Consumers are feeling more secure about their future in the area,” said Irwin. “I know the office is busy with an increase in interested home buyers. And when you consider the new jobs being created in the area, we anticipate seeing even stronger sales as we get further into 2011.”

Market readjustment after last year’s surge in home sales, due to the First-Time Homebuyer Tax Credit, is what many agents are saying caused the drop in home sales numbers so far in 2011. RE/MAX sales however, remained strong even without government incentives.

“What RE/MAX is seeing is a good sign for the entire real estate market in Howard County,” added Irwin. “It shows that the market can still grow despite no tax incentives being offered.”

Additionally, with the adjustment to the absence of government incentives, average home sales prices are on the rise. From January to April 2011, average home sales prices increased nearly 3 percent, compared to the same period in 2010.

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CONTACTS:

Penny Irwin
Broker/Owner

RE/MAX Realty One
(ph) 765.454.7300
Leslie Payne, RE/MAX of Indiana
Director of Communications
(p) 317.845.2005 x 209 (c) 317.370.3129
lpayne (at) remax-indiana (dot) com

Source: REALTORS® Assoc. of Central Indiana Broker Listing Cooperative for the dates of: 1/1/2010 – 04/30/2010 and 1/1/2011 – 04/30/2011.

About RE/MAX of Indiana: RE/MAX of Indiana is affiliated with RE/MAX, LLC. Since its inception in 1987, RE/MAX of Indiana has grown to over 80 offices with more than 1,200 sales associates throughout Indiana, providing residential and commercial real estate, as well as relocation and referral services. For more information, visit www.remax-indiana.com. Follow us on Facebook at www.facebook.com/remaxofindiana and on Twitter at www.twitter.com/remaxofindiana.

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Based in Denver, Colo., RE/MAX International oversees a network of nearly 100,000 Sales Associates in more than 75 countries, an international presence greater than any of its competitors.  Nobody in the world sells more real estate than RE/MAX.

RE/MAX has been honored as the leading real estate franchise in the "2009 Franchise Times Top 200," and has been the leading real estate organization in Entrepreneur magazine's "Franchise 500 Survey" for nine of the last 11 years.

Contact:

Allie Musso

Phone: 303-796-3662

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